On May 15, 2024, the Vietnamese Government issued Decree No. 52/2024/ND-CP on cashless payments, effective from July 1, 2024. This decree replaces Decree No. 101/2012/ND-CP (as amended and supplemented). It represents a significant legal milestone in the field of Vietnam cashless payments, impacting various sectors, organizations, and individuals involved. The new decree establishes a fundamental …
Letting go of an employee should be a clean break. But in Vietnam, one wrong move can cost your business more than just money. It can cost your reputation, your operating license, and even your ability to hire again. Some foreign companies believe they can handle things the same way they do at their home …
It begins softly. A friendly request comes, framed as a favor, filled with urgency. You listen and agree. Money moves. Then the silence grows longer. The borrower turns avoid contacts, and a truth emerges: you may have walked into a loan scam in Vietnam. The private lending is part of daily life here, yet scammers …
You’re leaving Vietnam. But your property wants to stay! That is the tension. It’s not just an apartment or a house. It’s paperwork. Taxes. Buyers. Banks. Selling property in Vietnam may seem straightforward on paper. But for foreigners, it’s often a maze of legal hurdles, transaction risks, and money transfer headaches. Here’s the issue. When …
Occupational Health and Safety (OHS) compliance is a growing concern in Vietnam, where the labor force plays a pivotal role in economic growth. As Vietnam continues to develop into a manufacturing hub, investors have drawn more attention to adhering to the nation’s labor laws, particularly OHS regulations. The following aims to provide a guide to …
For foreign companies and individuals doing business in Vietnam, understanding corporate criminal liability is essential for operating ethically and successfully. As Vietnam’s economy continues to grow and integrate globally, the government has prioritized accountability in the corporate sector. Corporate criminal liability ensures enterprises are held responsible for misconduct conducted on their behalf, emphasizing the importance …
The Need for a Fintech Regulatory Sandbox in Vietnam The banking and financial sectors are undergoing a significant transformation as financial technology, or Fintech, reshapes traditional practices. In response, governments and regulatory bodies worldwide are exploring controlled environments to test new financial technologies. Vietnam does not want to be the outsider hence it is planning …
Starting an import-export business in a foreign country can be challenging, because the difference of cultures, business practice, lack of trusted partners, difficulties to hire. However, setting up an import export business in Vietnam offers exciting opportunities due to the country’s growing economy, strategic location, and booming trade sector. The following outlines nine powerful steps …
Vietnam has emerged as a preferred destination for foreign investors, driven by its dynamic economy, strategic location, and supportive government policies. Establishing a company in Vietnam offers opportunities amidst the global economic stagnation exacerbated by geopolitical tensions. With a young population, a growing middle-income working class, and abundant talent in information technology, Vietnam presents a …
Cryptocurrency has becoming a global phenomenon, but regulations on cryptocurrency exchange in Vietnam are still evolving. Unlike traditional currencies, issued by the State Bank of Vietnam (SBV), cryptocurrencies operate in a decentralized digital framework. However, the Vietnamese government has taken a strict stance on cryptocurrency in Vietnam, particularly regarding their exchange and use. In the …
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