Tiếng Việt
Dear Valued Clients, To have a commercial presence by investing in the form of establishing an economic organization in Vietnam, foreign investors need to carry out procedures to apply for an Investment Registration Certificate (“IRC”) for their project in Vietnam. The IRC is one of the essential legal documents that proves the rights of the investors to implement the project, in which records the information regarding the investment…
Dear Valued Clients, A business cooperation contract (“BCC Contract”) is one of the forms of direct investment and commercial presence of foreign investors in Vietnam. However, the characteristic of this model is that the parties cooperate and carry out joint business investment activities based only on a contract without establishing an enterprise. So what are the benefits and risks of investors in this contractual relationship and this form of investment?…
Dear Valued Clients, Over the past decade, policies to support and encourage businesses to invest abroad have been increasingly improved. This has created favorable conditions to expand investment and business activities, improve competitiveness and increase the rate of participation in the international integration process for domestic enterprises. However, for many different reasons, including internal problems within the project and pressure from external factors, many businesses have had to decide to…
Dear Valued Clients, On November 29, 2005, the National Assembly issued the Law on Electronic Transactions No. 51/2005/QH11 (“LET 2005”). However, after nearly 18 years of implementation, LET 2005 has clearly revealed shortcomings as many provisions are no longer consistent with development reality, and fail to respond to the needs of the 4.0 industrial revolution as well as digital transformation and building Vietnam’s digital economy in the coming period. Therefore,…
Dear Valued Clients, On September 18th 2023, the Government issued Decree 70/2023/ND-CP (“Decree 70”) amending and supplementing a number of articles of the Government’s Decree No. 152/2020/ND-CP dated December 30th, 2020 on foreign employees working in Vietnam, and recruitment and management of Vietnamese employees working for foreign employers in Vietnam (“Decree 152”). Decree 70 officially takes effect from the date of signing. In this Legal Update, we would like to…
Dear Valued Clients, Transfer of contributed capital in a limited liability company (“LLC”) with multiple members is an act of a company member transferring the ownership of the contributed capital in his/her company to another member or another individual or organization that is not a member, along with the rights and obligations of the owner arising from that contributed capital to that individual or organization. During the capital transfer process,…
Dear Valued Clients, Capital contribution is an important step when establishing an enterprise. To acknowledge more about the valid contributed assets as well as the process, methods, and valuation for contributing assets, investors may pay attention to our below guidance. According to the provisions of Law on Enterprises 2020, capital contribution means the contribution of assets to form the charter capital of the company, including capital contribution to establish a…
Dear Valued Clients, Decree 13/2023/ND-CP which took effect on July 1, 2023, provides more detailed regulations on data protection and cybersecurity obligations for personal data processing activities in order to strengthen the legal framework governing activities in cyberspace. Accordingly, in order to ensure the implementation of regulations on network security and personal data security, on May 31, 2023, the Ministry of Public Security published the third draft of the Decree…
Dear Valued Clients, On June 24, 2023, the National Assembly passed the Law amending and supplementing a number of articles of the Law on Entry and Exit of Vietnamese Citizens and the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam and it takes effect from August 15, 2023. Accordingly, the article will update Clients with the highlights related to visas in this new legal document. In general,…
Dear Valued Clients, The register of members in a multi-member limited liability company (hereinbelow referred to as “The Company”) is an important document that the company must prepare immediately after receiving the Enterprise Registration Certificate. Therefore, in the initial stage of company formation and throughout the operation process, the company needs to pay attention to legal issues related to the register of members for convenience during operation. To order to…