The Government Continues to Exempt Visas for Western European Countries

It has been announced on May 3rd, 2018 that visa exemption policy for 5 Western European countries has been extended as part of the Vietnam immigration policy to attract tourists to Vietnam. At the same time, the Government has decided to increase the exemption period from one year to three years. Accordingly, the Government has a high consensus and the Prime Minister has decided to continue the visa exemption for five Western European...

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Preferential Policies When Investing in DaNang Hi-Tech Park

Danang has been growing to become attractive destination for investment due to favourable conditions offered by the city administration to bring foreign investor investing into hi-tech park. Danang is one of the five large cities of Vietnam and is the key economic hub of Central Vietnam. The location of Danang is one of the important gateway to the sea of the Central Highlands and Laos, Cambodia and Thailand to the Northeast Asia countries...

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The Purposes of Using Criminal Record Card

Under Clause 1, Article 2 of the Law on Criminal Record 2009, criminal record card is the records on the previous convictions of a person that is sentenced under valid court judgments or decisions, and banning individual from holding position, establishing or managing enterprises and cooperatives in cases where the enterprises or cooperatives are declared bankrupt by the court. Article 7 – The Law on Criminal Record 2009 regulates...

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Equity of PPP investors must make up 20% of total investment

Investors involved in projects under the public-private partnership (PPP) must have equity accounting for at least 20% of total investment capital, according to a recently released decree of the Government. Decree 63/2018 issued early this month to replace Decree 15/2015 will come into force on June 19, 2018, with some radical revisions, one of which is an equity requirement of 20% instead of 15%. However, this rule only applies to...

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Scope of works of Mergers and Acquisition Lawyers

Due to the globalization of markets, intensification of competition in the business world, beginning of mass privatization, intensive development of private and mixed forms of companies, Mergers and acquisitions have become quite common. These days, companies agree to Mergers and acquisitions to make changes in their business operations, both quantitatively and qualitatively within a short period of time. But, the bitter truth is that most of the M...

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How Confidentiality Agreements Important In Mergers & Acquisitions Transactions

These days, Mergers and acquisitions are highly popular in the business world. Previously, M&A transactions were mainly an instrument for a company expansion and one of the most desired kinds of investments in developed countries, but M&A transactions are being held continuously all across the world. The purpose of a merger or acquisition transaction can be both a strategic expansion of business (market share, technology, geography, etc,),...

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What is the process of setting up a business by a foreigner in Vietnam?

Vietnam government passed the new law on Investment No. 67/2014/QH13 (New LOI) in 2014, and the new law on Enterprises No. 68/2014/QH13 (New LOE), which replace the previous laws as from July 1, 2015. Certain notable provisions of the new laws are asbelow. ● Requirements Capital: There is no requirements on foreign investment amount and registered capital in Vietnam. But registered capital can not less than 30% of total investment amount....

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Is Vietnam's government stable enough to smoothly set-up a foreign start-up business?

Vietnam became the 150th member of the World Trade Organisation (WHO) in 2007. This opened the entranceway for foreigners to get and operate businesses in Vietnam. Individuals and organisations are permitted to choose their area of investment, the structure of their business and the technique where capital is raised, so long as their choices are in compliance with Vietnamese law, international treaties and commitments. Before starting a business...

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New foreign investment approvals in Jan-Apr drop sharply

A view of downtown HCMC. The real estate sector recorded the second largest foreign investment in January-April. HCMC – Total foreign investments pledged in the year’s first four months fell by a sharp 23.9% to US$8.06 billion, according to the Foreign Investment Agency. Of the fresh foreign investment approvals in the period, pledges by existing and new projects declined significantly. In particular, 883 new projects...

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Policies on labour and trade coming into force from the middle of April, 2018

03 policies on labour and trade coming into force from the middle of April, 2018 (April 11 – 20, 2018). 1. Employment litigation involving sending of workers abroad This is the most noticeable content of the Decree No. 24/2018/ND-CP on settlement of complaints and denunciations in the fields of labour, vocational education, sending of Vietnamese employees to work abroad under labour contracts, employment, occupational safety and hygiene. According...

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