ENERGY & RESOURCES

Vietnam is known as a rich of natural resources country.  The energy industry of Vietnam has developed for a number of years but the lack of modern technology and capital, that makes Vietnam has still stalled in this potential field.  By the strength of resources, cheap labor, transport, Vietnam is attracting many foreign investors to invest in energy industry. Our energy and resources lawyers in Vietnam always monitor the legal environment...

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United States (US) businesses are expecting to pour investment capital and set up business in Ho Chi Minh City (HCMC) in the near future, when Vietnam and the US are members of the Trans-Pacific Partnership agreement (TPP). Statistics from the Department of Planning and Investment of HCMC showed that in 2015, the city has attracted 26 investment projects from the US with a total capital of approximately 135.4 million USD. In the first 2 months...

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MARITIME INSURANCE: COMPLEX AND DISPUTES

In the insurance sector, the insurance of goods transported by sea is much more complex and causes most disputes in the process of claim settlement. Marine  Insurance  is  the  insurance  operations  related  to  the  operation  of  the ship, the  human or the  goods are transported on the sea or the  insurance operation risks at sea, on land, in river relating to sea voyage The...

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LEGAL PROCEDURES THAT ENTERPRISE MUST PERFORM

After establishing a company, the leader has to perform many legal procedures. First, they have to declare the license tax. The tax declaration should be submitted to supervisory tax authorities. If the taxpayer has branch in the same province, the tax declarations of the branch should be submitted to the taxpayer’s supervisory tax authority. On the other hand, if the taxpayer has branch in another province, the tax declarations of the branch...

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REAL ESTATE LEGAL MATTERS IN VIETNAM

In general, it is not permitted to own land in Vietnam as a private entity because the land belongs to the people and the State of Vietnam thereby operates as the administrator. However an ownership of a right to use land is permitted according to Vietnamese Law.  This so-called Land Use Right (“LUR”) Certificate provides the means to lease land from the State for Vietnamese and foreign people.  This LUR Certificate entitles the land...

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JUDICIAL RECORD CARD IN VIETNAM

Judicial record card in Vietnam Procedures to obtain judicial record card (criminal record/ police check) in Vietnam is regulated in the Law no. 28/2009/QH12  of National Assembly of Vietnam on Judicial Record. Judicial record card means a card issued by an agency managing the judicial record database and valid to prove whether or not an individual has a previous criminal conviction, is banned from holding certain posts, establishing...

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REPORT THE DEMAND TO USE FOREIGN WORKERS IN VIETNAM

In order to manage the usage of foreign workers in Vietnam, the Vietnam state authority has requested employers to provide explanation for such need to use foreign workers. This will be the preliminary procedure before applying for work permit in Vietnam then temporary residence card in Vietnam for foreigners.  The report of demand to use of foreign workers has to meet the following requirements: Demand to use foreign...

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WHAT TRANS-PACIFIC PARTNERSHIP AGREEMENT IS ABOUT?

On Jul 31st, 2015 the Trans-Pacific Partnership (TPP) negotiation ended without a resolution although a great progress has been made. The sad thing is that “they finished the part of the agreement that would raise environmental standards in Vietnam, Malaysia and the other countries in the bloc” according to The Wall Street Journal. It is expected the deal will continue to be worked on in the upcoming future meeting. US, Japan, Vietnam...

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10 QUESTIONS TO ASK BEFORE SETTING-UP COMPANY IN VIETNAM

Foreigners are encouraged to make investment in Vietnam through direct investment by setting up company in Vietnam. However there are restrictions in some cases in regard to investment capital, investment area, special licenses required. The investor is suggested to consult with a law firm in Vietnam for advice and service offering. Before setting up business in Vietnam, ask yourself the following questions: 1. Which business should...

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BLOOMBERG: M&A IN 2016 IN VIETNAM WILL HIT RECORD

According to Bloomberg, the mergers and acquisitions activity (M&A) in Vietnam will hit record since the foreign investors are very interested in the consumer sector – which is developing very fast. The Institute of Mergers, Acquisitions and Alliances in Vietnam announced that the M&A activities related to Vietnam companies increased by 40% in 2015, reaching 4.3 billion USD and surpass the record of 4.2 billion USD in 2012. Meanwhile,...

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WHICH FORM OF INVESTMENT – BRANCH OR COMPANY?

Foreign entities can set-up company or branch offices in Vietnam to carry out business activities. There are several main different aspects between opening a branch office or establishing a foreign owned company in Vietnam. Conditions Permits for establishment of Vietnam-based branches of foreign enterprise shall each have a valid term of five years. Foreign enterprise must choose between establishing a 100% foreign capital...

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WHICH AUTHORITY APPROVES BUSINESS SETTING UP IN VIETNAM?

Investment projects in Vietnam could be evaluated and approved for business setting-up at top level of the government, at ministerial levels or at the provincial levels. The licensing authorities for business setting up in Vietnam has been divided to distribute workloads at different state agencies with aim to speed up the process and attract more quality investment projects in Vietnam. In practice, the process...

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