The Stock Trading Center of Vietnam ('STC'), located in Ho Chi Minh City, was officially inaugurated on 20 July 2000, and trading commenced on 28 July 2000. It is the smallest stock exchange in Southeast Asia. The Vietnam stock exchange is operated and regulated by the State Securities Commission.
Foreign ownership of shares in companies listed on the Ho Chi Minh City Stock Trading Center is limited to 49% of the company's issued share capital. For bonds, foreign investors can hold 100% ownership of a particular issuer's bonds.
Foreign investors who wish to purchase shares through the Ho Chi Minh City Stock Trading Center are required to register through a custodian licensed to hold securities on behalf of foreigners. Securities companies can play role of custodian unit to hold stocks for foreigners as well. Once registered, a Securities Transaction Code is issued to the foreign investor who may then open a Trading Account with one or more of the licensed Securities Companies.
For private investors, it is necessary to open a securities account and a bank account. Foreigners are able to transfer funds out of Vietnam after fulfill tax obligations. There is no time constrain.