CPC Code – Foreign Investors Need to Know in Vietnam

Once a foreign investor wishes to invest in Vietnam, they not only need to be well-informed about investment environment, incentive, labor, State policies, but also need to know about CPC code. Each specific service is fixed with a provisional Central Product Classification (called CPC code) belonging to Central Product Classification of United Nations. In the Schedule of Service Commitment under WTO Commitment, all services which Vietnam commits...

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Benefits of Representative Offices in Vietnam

Following the trend of international economic integration, foreigners have been attracted by the benefits of doing business in Vietnam through setting up representative office, setting up company, acquiring shares in Vietnam enterprise through M&A activity. At the initial stage, foreign entity would try to research market, undertake due diligence on its clients, buyers, clients, or other business partners therefore many will be interested in...

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How Could a Vietnamese Change the Name?

According to the civil laws in Vietnam, a citizen’s full name including first name, middle name and last name has been registered at birth in the birth certificate when properly issued. If a Vietnamese wishes to change the name, there must be a legitimate reasons and the process and procedure have to follow Vietnam Civil Code. Individuals may request competent state agencies to recognize the change of name in the following cases: a) At the request...

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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. I. 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...

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Vietnam Loosen Laws on Casino and Gaming Allowing Vietnamese to Try Luck

On 16 Jan 2017, Vietnam Prime Minister issued Decree 03/2017/ND-CP on casino including investment conditions and procedures of foreign investment in service, tourism, and entertainment with casino, including investment registration of foreign investors, business operation license eligibility, and notable three-year pilot plan that allow the Vietnamese playing in the casino. Vietnam has allowed investment in the field of casino business and that...

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How Foreigners Could Work in Vietnam Legally?

Foreigners working in business set-up in Vietnam are expatriates which are normally required work permit in Vietnam. As the Vietnam law’s restrictions to encourage employment of local employee over foreign employee, normally, the employment of an expatriate is limited to a managerial position or to a position which Vietnamese employee are not yet qualified. There are exemption of work permit in Vietnam as following cases: A capital contributing...

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Where Foreign Investors Obtain Investment License in Vietnam?

To set up a business in Vietnam through foreign direct investment, foreign investors need to register the investment license from Vietnam Ministry of Planning and Investment (MPI). Depending on investment business lines, investment conditions, scale of the projects, where investment project is located, other Vietnam State authorities would be involved.  MPI in Vietnam takes charge of developing legislation, guiding, consulting and coordinating...

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Conditional Investment Sectors and Investment Conditions in Vietnam

When setting up a trading company in Vietnam, beside other conditions, the foreign investors have to prove experience in trading area.  Areas such as banking, financial services, real estate, security services will require minimum investment.   Foreign investment lawyers should be consulted for advice on investment licensing matters. In general, foreign investors making investment in Vietnam are encouraged.  However, there are...

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List of Investment Sectors Banned in Vietnam

Although investment is encouraged in Vietnam, there are sectors banned to invest in Vietnam which foreign investors need to be advised and considered when setting up business in Vietnam. The list of investment sectors banned in Vietnam has been issued with Decree 108/2006/ND-CP dated September 22nd 2006 of the Government on guiding the implementation of some Articles in the Law on Investment. I. The projects which are detrimental to national...

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Cosmetic Advertising Registration Services in Vietnam

Cosmetic advertising in Vietnam is conducted on the mass media such as television, radio, electronic portal (Internet, Website), books, newspapers, magazines, flyers, posters, underwater objects or other means of advertising made by cosmetics business or sponsor, authorize other entities to perform. The businesses are only allowed to advertise when having the approval of advertising registration dossier as prescribed by law. Cosmetic advertising...

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Cosmetics Workshop, Event Organizing Registration Services

In addition to the cosmetics advertising on mass media such as television, radio, electronic portals (Internet, Website), books, newspapers, magazines, flyers, posters, underwater objects or other means of advertising, the cosmetics business can make or sponsor, authorize other entities to carry out workshop activities to introduce cosmetic products. The cosmetic businesses are only allowed to advertise, organize seminars and events to introduce...

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