SET UP AND INVEST
Starting a business in Vietnam
Plan the entity, licenses, funding and practical steps needed before launch.
Read the guideRetailing and Consumer Goods
Purchasing and exchanging goods are ancient activities emerging from human’s demand of foods, drinks and other daily needs. Retailing and consumer goods distribution in Vietnam have developed rapidly in Vietnam driven by the growing of young mid-income consumer group in Vietnam. The retailing index has been high according to A.T.Keraney – a famous US consulting …
New Vietnam Law on Bankruptcy No.51/2014/QH13
New Vietnam Law on Bankruptcy has been voted and approved by Vietnam National Assembly on Jul 19th, 2014 and is expected to make contribution to resolve the current problems about requirements of the enterprises, cooperatives which declare bankruptcy; to ensure equality in protecting the interests of the State, the legitimate rights and obligations of enterprises, …
Amendment on the Vietnam Law on Notarization
On 24th June 2014, the new Vietnam Law on Notarization has been promulgated. Along with the certifying the authenticity and validity of the contract, other civil transactions in writing, Clause 1, Article 2 of the amended Vietnam Law on Notarization stipulates: “Notaries have the authority to certify the accuracy, legitimacy, social ethics of the translation …
Economic Need Test for Second Retail Outlet for Foreign-Invested Companies
According to Decree 23/2007/ND-CP, a foreign-invested company wishes to open more than two retail outlets will need to pass an Economic Need Test (ENT) except in limited circumstances. However, there are not specific definitions on ENT, in which the investor could check it against their capility that could make foreign investors be hesitated on entering Vietnam …
ANT Lawyers to Attend International Law Conference in Doha 2014
Prae Legal will be organizing the 2nd meeting in Doha, Qatar on 14th and 15th of September 2014. This event will be supported by the State of Qatar. Prae Legal is one of the largest law firm networks of more than 15o law firm members globally. Last year, the 1st meeting of international law firms was organized in Istalbul, …
Ho Chi Minh City: foreigners’ work permit in Vietnam is no longer renewable
Ho Chi Minh City is not going to renew expired work permit in Vietnam for foreigners, noticed by Ho Chi Minh City Department of Labor, War Invalids and Social Affairs. Ho Chi Minh City Department of Labor, War Invalids and Social Affairs (DOLISA) issued Notice No.6107/SLDTBXH-VL on May 16th, 2014 guiding the implementation of Decree No.102/2013/ND-CP detailing …
Vietnam is going to open derivatives market in 2016
Vietnam Prime Minister Nguyen Tan Dzung has approved the project: “Building and developing derivatives market in Vietnam” by issuing Decision No.366/QD-TTg which approve derivatives market establishment and development in Vietnam. Pursuant to Decision No.366/QD-TTg, establishing and developing derivatives market, there are three phases from simple to complex. Phase 1: from 2013 to 2015, Vietnam needs …
The method to identify the customs value of imported and exported products
Customs valuation matters with particular reference in transfer pricing that attract attention in Vietnam recently. There are acceptable methods of reducing customs duty liabilities. In order to clarify for the method to identify the customs value of imported and exported products, the Ministry of Finance has issued the Circular 29/2014/TT-BTC guidinging identical imported products; license fees, and …
New procedure in marriage with foreign element
From February 17th 2014, the marriage between Vietnamese and foreigner belonging to one of following cases must be consulted, supported by the Center of Consulting, supporting marriage and family with foreign element: – A spouse is 20 years older than the other. – The foreigners get married the third time or have married and divorced …
Merry Christmas and Happy New Year
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