Company: KNRX
Filing Date: 2025-09-22
Form Type: F-1/A
Source: 0001493152-25-014499
Chunk: 119

Company: KNOREX LTD.
Filing Date: 2025-09-22
Form: F-1/A
Chunk 119
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-residents, subject to the selling bank’s verification. Certain permitted transactions includes (i) payments and remittance in relation to import and export of goods and services; (ii) short-term commercial credit loans and bank loans; (iii) payments and remittance in relation to revenues from direct and indirect investment; (iv) remittance in relation to a reduction and subsequent repayment of direct investment capital; (v) payments for principal and interest under foreign loans; (vi) unilateral transfer; and/or (vii) other payments and transfers as prescribed by the State bank of Vietnam.

Foreign currency bank account

A resident foreign owned enterprise shall open a direct investment capital account (DICA) in foreign currency with an authorized bank in Vietnam for its direct investment in Vietnam for the following general purposes: (i) receipt of charter capital contributions; (ii) disbursement outside Vietnam of capital, profit, and other legal revenue of a foreign investor; and/or (iii) other revenue and disbursement transactions relating to direct foreign investment activities.

Repatriation of profit

There are no restrictions on the transfer abroad of the following so long as foreign investors have satisfied all financial obligations owed to the Government of Vietnam: (i) invested capital and proceeds from liquidation of investments; (ii) income derived from business investment activities; and/or (iii) other money and assets lawfully owned by the investor. Foreign investors are not permitted to remit profits if the investee company has accumulated losses.

Foreign Investment Laws

The principal statutes currently governing the incorporation and operation of a foreign owned enterprise in Vietnam are (i) Law No. 61/2020/QH14 on Investment and (ii) Law No. 59/2020/QH14 on Enterprises both of which have come into effect since January 1, 2021.

A foreign investor may invest in Vietnam by (i) setting up a new company; (ii) contributing capital to or buying shares in an existing company; or (iii) through a business cooperation contract (BCC) with domestic investors. The general licensing procedures will be comprised of: (i) obtaining capital acquisition approval (in certain cases of capital/share acquisition); and (ii) obtaining/amending an enterprise registration certificate and an investment registration certificate. Merger filing may also be required in certain cases of capital/share acquisition.

During the operation term, any changes to the contents of the investment registration contents or enterprise registration contents must be registered or notified with the licensing authorities. The amended investment registration certificate or enterprise registration certificate or