Tiếng Việt
Dear Valued Clients, Incorporation is the first procedure to create a commercial entity to carry on business operations in an orderly and organized manner. To learn about the application files as well as the process and procedures for the establishment of an enterprise and, subsequently, post-licensing matters, investors may pay attention to our below guidance. 1. Application dossiers for enterprise incorporation[1] At first, investors (who are supposed to be the…
Dear Valued Clients, Besides the branch or the representative office, the business location is also one of the dependent units’ types of enterprises established in Vietnam. Depending on business purposes and needs, businesses can establish business locations to serve their plans. In order to understand clearly the definition, functions, activities, and established procedures of a business location in accordance with the laws, please refer to this article. Customers can also…
Dear Valued Clients, The Law on Insurance Business No. 08/2022/QH15 was passed and promulgated by the National Assembly on June 16, 2022 (“Law on Insurance Business 2022”). This is an important legal document and is expected to create a new development step for the insurance market of Vietnam in the upcoming time. The Law on Insurance Business 2022 takes effect from January 1, 2023. 1. Implementation of Vietnam’s international commitments…
Dear Valued Clients, Like an enterprise name or code, a corporate seal is also a form of distinguishing the difference between an enterprise and another. When executing transactions or agreements, the seal is considered a sign of the enterprise and represents the legal value of the documents being sealed. To catch up with regulations on the corporate seal of the Law on Enterprise No. 59/2020/QH14 of the National Assembly promulgated…
Subsequent to the participation of the International Labor Organization (“ILO”) through a variety of conventions, Vietnam’s Labor Code has undergone considerable debate and re-drafting with a view to standardizing certain regulations of domestic laws on employment to be consistent with the organization’s recommendations. Currently on the fourth iteration, the draft of this labor code (the “Draft”) has been the center of attention with many concurring and dissenting opinions regarding whether…
Dear Valued Clients, The branch is one of the multiple types of an enterprise’s dependent unit in Vietnam. Based on the purposes and needs, Vietnamese or foreign traders can choose to register to operate or establish a branch to facilitate their business activities. In order to understand clearly the definition, functions, activities, and established procedures of a Branch according to the law, Valued Clients can refer to our below legal…
Vietnam has continuously developed its legal environment to support and attract the business community and investors. As a result, the Law on Commercial Arbitration (the “LCA”) has been promulgated to create a flexible framework for individuals and organizations to resolve disputes by means of private arbitration, although some inadequacies still remain. Our Article thus aims at providing recommendations on the LCA’s legal aspect through (i) comparing its broadening scope of…
The unification of multiple laws under the Law on Enterprises 2005 along with the enactment of the Law on Investment within the same year represented a significant advancement for Vietnam in terms of establishing standardized legal regulations that apply to the business sector and showed Vietnam’s non-discriminatory treatments towards investors. However, regardless of such accomplishments, Vietnam’s incorporation of enterprises remained an untangled web of contradictions. As these inadequacies have caused…
Dear Valued Clients, In recent years, the situation of purchasing and disclosing personal data has been becoming more common in cyberspace, seriously affecting the freedom and privacy of users. Therefore, on April 17, 2023, the Government issued Decree No. 13/2023/ND-CP on the protection of personal data (“Decree 13”), effective from July 1, 2023. This Decree is considered the first comprehensive legal document regulating the protection of personal data in Vietnam….
Dear Valued Clients, With the goal of stimulating consumer demand, recovering and developing the economy after the Covid-19 pandemic, in 2022 the Government issued Decree No. 15/2022/ND-CP (“Decree 15”) dated January 28, 2022, providing tax exemption and reduction policies under Resolution No. 43/2022/QH15 of the National Assembly, with a strong focus on value-added tax (“VAT”) exemption and reduction. However, besides the results achieved, in the process of implementing Decree 15,…