There is ambiguity in Vietnam's foreign exchange regulations regarding whether a Vietnamese individual can provide a guarantee for the obligations of a non-resident (a "non-resident guarantee"). Some argue that such a guarantee is not subject to the foreign exchange regulations because it does not physically involve foreign exchange, while others believe it is subject to the regulations because it involves a non-resident party.
There are also practical issues that may arise if a non-resident party is the beneficiary of a non-resident guarantee provided by a Vietnamese individual, such as the inability to remit the guaranteed amount offshore through a bank.
It is advisable for Vietnamese individuals to seek legal advice before providing a non-resident guarantee.