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8 Key Highlights of the Amended Land Law
What Are Changes in Land Law? Land law serves as a fundamental pillar in the socio-economic structure of any nation, and Vietnam is no exception. As Vietnam continues to experience rapid industrialization and urbanization, the importance of a robust and adaptive Land Law becomes increasingly paramount. On the morning of January 18, at the closing session of the 5th extraordinary meeting of the 15th National Assembly, with 432 out of 477 delegates approving, the National Assembly passed the amended Land Law, which will come into effect from…
Plan to Simplify Regulations on Telecom, Gaming, Internet Service
In the process of economic integration and development, in order to create favorable conditions for business and service sectors under the management of the Ministry of Information and Communications, Vietnam has approved the plan to reduce and simplify regulations a number of regulations under its control. Accordingly, Decision No. 1994/QD-TTg agreed to reduce and simplify regulations related to business lines: Provision of pay radio and television services; Provide G1, G2, G3, G4 video games online; Newspapers; Telecommunications service bus…
How to Set-up Travel Services Business in Vietnam
Foreign investor could only set-up joint venture with Vietnam travel agency to set-up travel services business in Vietnam because transport of passenger belongs to investment areas with conditions applied to foreign investor in Vietnam. No one could deny that information technology has tremendously changed the way travel services business operates. The use of booking reservation system application on smartphone and internet are widespread that make travel has never been easier. Foreign investor would be interested to explore the travel servi…
How to Close a Business in Vietnam?
All corporations, companies, partnerships, branch offices, representative offices and other business entities are legal entities in Vietnam which can only be dissolved through formal procedures. The following will be discussing about how to close a business in Vietnam . What are the major challenges with closing a business in Vietnam? The main thing to remember throughout the process is that the dissolving company, a branch office or a representative office, one should pay close attention to the involvement of all key stakeholders, i.e. the…
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Establish Business in Vietnam and Obtain Business Registration Certificate
It is getting easier for the investor in doing business in Vietnam . In order for the investor to do business in Vietnam, the investor needs to establish business in Vietnam. Business registration certificate is considered a legal document of an organization, which is a paper or electronic document that records information related to business registration that the Business Registration Authority grants to an enterprise. What to prepare for submission to establish business in Vietnam? According to the provisions of the Law on Enterprises, to…
Money Laundering Regulations in Vietnam
Crime always be in existence in parallel with the development of the society. It is not possible to totally remove the crime from society but only to prevent such to happen. Together with the development of socio economy and technology, crime has become more complex to recognize. Especially crime of money laundering takes place in a much more sophisticated manner to make it difficult to control and detect. Money laundering not only affects all aspects of economic and political life but also threatens the national security. According to the pro…
What Are Conditions for E-commerce Business in Vietnam?
Offenders who have completely served their penalties shall be given conditions to do business, live honestly and integrate with the community, and when they meet all the conditions prescribed by law, their conviction may be expunged and their criminal records will be cleaned. A person whose criminal record is removed is considered as having not been convicted. There are three cases of conviction expungement, including: Automatic conviction expungement; Conviction expungement under a Court’s decision; Special cases of conviction expungement. …
How Bank Guarantee Letter Could Help Secure a Transaction and Risks Involved?
In the process of performing civil transactions, there is a need to bind the performance of obligations of the parties hence secured transaction is needed and guarantee is one of the commonly used methods to secure the performance of obligations in business and commercial activities. The party that provides guarantee is normally a commercial bank and bank guarantee is normally a loan service. In reality, there are potentially many risks involved in the guarantee transaction through issuing of bank guarantee letter which needs the attention…
How to Set up Foreign Owned Company in IT and Computer Related Service? | ANT Lawyers
Information technology and computer related service have played an extremely important role in life as well as in business activities on global scale. The industrial revolution 4.0 has comprised of many technologies and IT and computer service take a big part of such. The laws of Vietnam and the international commitments to which Vietnam is a party have no restrictions on foreign investors in terms of both the form of investment and the proportion of capital contribution in business in this field. Further, Vietnam prioritizes and encour…
How Foreigners Could Marry Vietnamese Wife? | ANT Lawyers
When a foreigner marrying a Vietnamese, this is cross cultural marriage with challenges and complexity in relationships which could be legally difficult. The Vietnam laws on Marriage and Family on marriage and family relations involving foreign elements provide legal grounds to avoid false marriages to gain citizenship or conduct human trafficking. The following should be taken into consideration when a foreigner marrying a Vietnamese. However due to the complexity, it is suggested family lawyers in Vietnam to be consulted to ensure the cor…
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Renewal of License for the Establishment of Branches Office in Vietnam | ANT Lawyers
How to extend branch license in Vietnam? The extension of the license for the establishment of a foreign trader’s branch in Vietnam shall be following the regulation of the commercial law and the relevant guiding decrees and circulars under Vietnam laws. Preparation of dossiers for extension of license for the establishment of branches includes: - Application for extension of license for the establishment of branches, made according to the form set by the Ministry of Industry and Trade, signed by a competent representative of the foreign tra…
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What Are Tax Obligations of a Representative Office in Vietnam? | ANT Lawyers
Vietnam-based representative office of a foreign trader means a dependent unit of the foreign trader, which is established under the provisions of Vietnamese law to conduct market survey and a number of commercial promotion activities permitted by Vietnamese law. Representative office of foreign trader in Vietnam has the rights and obligations in accordance with the law of Vietnam. Foreign trader is responsible before the law of Vietnam for all operations of its representative office in Vietnam. Accordingly, representative office in Vietnam is…
What Are Responsibilities of the Seller for Inadequate Delivery of Goods? | ANT Lawyers
Delivering and receiving goods are basic obligations of the parties when performing the Contract for purchase and sale of goods. Specifically, in accordance with the law, when buying and selling goods, the seller must deliver goods and relevant documents, as agreed in contracts on quantity, quality, packing and preservation modes and other contractual terms. In cases where there is no specific agreement, the seller is obliged to deliver goods and relevant documents according to the provisions of the Law on Commerce. At the same time, the Buyer…
What Has Changed in Vietnam Investment Law 2014? | ANT Lawyers
The new Investment Law 2014 announced by Vietnam Government on December 26th, 2014 has come into effect on July 1st, 2015. The new law introduces changes which include more opening policies for foreign investors to establish and set-up businesses in Vietnam . What makes foreign investors hesitate to invest and set-up business in Vietnam? The administrative problems and lack of transparency; the inconsistencies in implementing the principle of freedom to do business. Theoretically, the new Investment Law 2014 will resolve the above mentioned i…
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