Foreign Loan and Repayment Account (FLRA) is a demand account designed for the receipt and repayment of foreign loans, as well as the guaranty of foreign loans.
Introduction
Benefits
- Eligible customers:
- Non-FDI companies must open and use FLRA for transactions relating to foreign short/medium/long term loan(s), including receipts of disbursement, repayment of principal and interests.
- FDI companies open and use FLRA or DICA for transactions relating to foreign short term loan(s). For foreign medium/long term loan(s), FDI companies must open and use DICA.
- Product features:
- Account currency: VND, USD, EUR, JPY, KRW, CHF, GBP.
- Minimum balance: Not required.
- Applied interest rate: Non-term deposit interest rate in accordance with regulations of Wooribank Vietnam in each period.
- Non – cash transactions are allowed.
Required Documents
- Application for opening account cum deposit agreement.
- Proof Document about legally establishing and operating of entities (Business Registration Certificate/ Investment Registration Certificate….).
- Documents proving the legal representative status of the Account Holder or the authorized person, along with documents verifying their information; documents proving the status of the Chief Accountant, the person in charge of accounting, or the authorized person, along with the relevant information verification documents.
- Tax code certificate/ seal registration (if any).
- Other document related to opening account in accordance with the regulation of Woori Bank Vietnam in each period.
