Foreign investor may form joint venture or totally ownedforeign owned company | Form of establishment | insurance Management Authority | Ministerial Instruction on implmenting the Law on Insurance No. 539/MOF, dated 19 February 2014 | 31-12-9999 |
Joint venture between insurance company and insurance broker and foreign investor allowed | Form of establishment | Ministry of Finance | Insurance Law Amended No. 06/NA, dated 21 December 2011 | 31-12-9999 |
Requirement for a registered capital to operate as an insurance broker | Minimum capital requirements | Ministry of Finance | Insurance Law Amended No. 06/NA, dated 21 December 2011 | 31-12-9999 |
Requirement for application to be submitted to establish and operate an insurance company between a foreign insurance company and insurance broker | Licensing (based on experience, track record, technical requirements, and/or other) | Ministry of Finance | Insurance Law Amended No. 06/NA, dated 21 December 2011 | 31-12-9999 |
Requirement for domestic and foreign individuals and legal entities to have a license to operate an insurance business | Licensing (based on experience, track record, technical requirements, and/or other) | Ministry of Finance | Insurance Law Amended No. 06/NA, dated 21 December 2011 | 31-12-9999 |
Requirement for establishing an insurance business is the grant of a license based on technical requirements | Licensing (based on qualifications / education) | Ministry of Finance | Insurance Law Amended No. 06/NA, dated 21 December 2011 | 31-12-9999 |
Requirement for establishing an insurance business: a minimum capital | Minimum capital requirements | Ministry of Finance | Insurance Law Amended No. 06/NA, dated 21 December 2011 | 31-12-9999 |
Requirement for insurer to have registered capital and security deposit | Minimum capital requirements | insurance Management Authority | Ministerial Instruction on implmenting the Law on Insurance No. 539/MOF, dated 19 February 2014 | 31-12-9999 |
Requirement for insurers and insurance brokers to create a reserved fund | Minimum capital requirements | Ministry of Finance | Insurance Law Amended No. 06/NA, dated 21 December 2011 | 31-12-9999 |
Requirement for license fee to operate insurance business | Fee | Ministry of Finance | Insurance Law Amended No. 06/NA, dated 21 December 2011 | 31-12-9999 |
Requirement for license toinvest in insurance business | Licensing (based on experience, track record, technical requirements, and/or other) | insurance Management Authority | Ministerial Instruction on implmenting the Law on Insurance No. 539/MOF, dated 19 February 2014 | 31-12-9999 |
Requirement for professional liability insurance for insurance broker | Performance requirements (mandatory) | Ministry of Finance | Insurance Law Amended No. 06/NA, dated 21 December 2011 | 31-12-9999 |
Requirement for security deposit by insurance business operator | Minimum capital requirements | Ministry of Finance | Insurance Law Amended No. 06/NA, dated 21 December 2011 | 31-12-9999 |
Requirement of a license for the establishment of a representative office of a foreign insurance business | Licensing (based on experience, track record, technical requirements, and/or other) | Ministry of Finance | Insurance Law Amended No. 06/NA, dated 21 December 2011 | 31-12-9999 |
Requirement to be licensed to operate insurance broker business | Licensing (based on experience, track record, technical requirements, and/or other) | insurance Management Authority | Ministerial Instruction on implmenting the Law on Insurance No. 539/MOF, dated 19 February 2014 | 31-12-9999 |
Requirement to be licensed tooperate insurance broker business related to partnershpcontract | Licensing (based on experience, track record, technical requirements, and/or other) | insurance Management Authority | Ministerial Instruction on implmenting the Law on Insurance No. 539/MOF, dated 19 February 2014 | 31-12-9999 |
Requirement to have deposit security to operate insurance broker business | Minimum capital requirements | insurance Management Authority | Ministerial Instruction on implmenting the Law on Insurance No. 539/MOF, dated 19 February 2014 | 31-12-9999 |
Requirement to prohibit various practices by insurer and insurance broker | Numerical restrictions (other) | Ministry of Finance | Insurance Law Amended No. 06/NA, dated 21 December 2011 | 31-12-9999 |
Requirements for being insurance agent include nationality and residency | Nationality and Residency Requirements (for senior personnel) | Ministry of Finance | Insurance Law Amended No. 06/NA, dated 21 December 2011 | 31-12-9999 |
Requirements for registered capital and working capital | Minimum capital requirements | Ministry of Finance | Insurance Law Amended No. 06/NA, dated 21 December 2011 | 31-12-9999 |