Banking and Finance
ACSV Legal routinely advises high-net worth individuals, companies, banks, and other entities on cash flow-based lending, asset based lending, acquisition financing, exit financing, and other secured and unsecured financing. We also advise clients on creating security interests for different types of collateral including: inventory, equipment, accounts receivables, securities, real estate, and other to meet the various needs of our clients.
Our lawyers have extensive experience working on banking and finance matters within the Asia Pacific region including but not limited to: syndication, leveraged buyouts, asset finance derivatives, and project financing. We have an in-depth knowledge of the complexities of the local market, as well as our clients’ businesses, and use this expertise to assist our clients in achieving their objectives.
Corporate / M&A
ACSV Legal has one of the premier Corporate / M&A practices in Vietnam and its approach is to understand the legal, commercial and political dynamics of every matter. ACSV Legal has advised on various high profile complex cross-border M&A transactions which have been made possible by strategic and pre-emptive pre-deal restructuring. We advise on all types of commercial agreements, reviews contracts from both Vietnamese and foreign law perspectives.
ACSV Legal anticipates potential roadblocks and enhances deal certainty by providing sector specific advice on transactions, regulatory requirements and investment policy. We structure investments by combining legal and tax expertise with an intimate understanding of risk allocation and exit considerations.
ACSV Legal advises clients making direct investments into Vietnam. Clients must obtain the correct licenses from the competent authorities and comply with both Vietnamese and foreign legislation. Given that the local Vietnamese laws, regulations and procedures change constantly, are not transparent and complex, ACSV Legal supports its clients during the licensing process and it is essential that we keep our clients updated on these changes.
“This is a highly competent M&A/Corporate law firm able to operate to international standards. Technically very good. Extremely responsive. Good commercial advice. Able to rely upon them 100 %. Very fluent English. In the transaction I engaged them for, I could not fault them any aspect.”
ILFR1000 2019
Dispute Resolution
ACSV Legal offers preeminent
dispute resolution services with a special focus on international commercial arbitration. Our dispute
resolution practice group comprises high
calibre lawyers who have been trained in international arbitration in the US, France and Singapore. We have acted for clients in multi-million dollar cases arbitrated
by the SIAC and the ICC.
Energy
At ACSV Legal we support our clients across the entire energy value chain advising them on the use, taxation and extraction of energy sources covering all aspects, from sales to regulation, of non-renewable energy sources such as coal, oil and gas, but also renewable sources, such as wind, solar and hydro power.
Our Team understands the energy industry and can support you to operate within a national and international framework. Our Team has mainly acted for sponsors, lenders and corporates with regard to relevant agreements, such as power purchase agreements, offtake agreements, project and equity finance, EPC agreements, leasing, energy regulation, joint development agreements, collaboration and consortium agreements. corporate structuring and tax advice, licensing and technology transfer. We also have provided our clients with environmental, construction, employment, government and regulatory, as well as operational advice.
We also collaborate
with the Hanoi-based law firm Venture North Law in providing legal counsel to
our clients in large energy projects.
Insolvency and Restructuring
ACSV Legal has advised some of the biggest names in many industries in Vietnam, including health and fitness, retail, food and beverage and hospitality on various high profile complex cross-border M&A transactions which have been made possible by strategic and pre-emptive pre-deal restructuring.
Our lawyers provide an innovative and practical approach to structuring investments into Vietnam by combining legal and tax expertise with an intimate understanding of risk allocation and exit considerations.
Apart from advising investors entering into Vietnam’s market through M&A, we also represent clients in insolvency and winding-up proceedings to restructure the company’s debt and asset portfolios and negotiate with employees and creditors in order to rehabilitate the company’s operation. Together with our dispute resolution practice team, our lawyers can provide you with highly creative strategies and optimal solutions to survive an involuntary winding-up.
Labour and Employment Law
ACSV Legal regularly advises clients on hiring and disciplinary practices, compensation structures, internal labour regulations, restrictions on post-employment termination. Our team has in-depth legal knowledge with focused, practical experience to help managers make real-world judgments while minimizing potential exposure.
We have also actively collaborated with SH Law led by Huynh Van Nong, a Vietnam qualified lawyer, in various employment related disputes such as harassment, wrongful discharge claims, employment contract and employee benefit claims and wage and hour disputes. Mr Huynh has extensive experience in investigations and litigations, routinely representing both employers and employees in employment disputes.
Private Equity
ACSV Legal has experience in advising clients on strategic investments, divestments, debt and security transactions, design and review of loan contracts, as well as capital contributions. We have extensive experience in private equity transactions with a focus on a strong commercial approach. This gives us a comprehensive understanding of the hurdles our clients may face.
Our experience allows us also to anticipate potential roadblocks and to enhance deal certainty by providing sector specific advice on transactions, regulatory requirements and investment policy. ACSV Legal’s lawyers also facilitate the private equity process by assisting our clients with draft application dossiers, reviewing existing and proposed corporate structure and liaising with the local authorities during the licensing process.
..."the team is particularly knowledgeable on cross-border private equity structuring and transactions."
ILFR1000 2019
..."has reliable advisers possessing outstanding expertise in private equity and cross-border transactions, combined with strong negotiation skills."
Legal 500 Asia Pacific 2017
“Overall very satisfied with the work. Professional
and sound advice that is easy to understand. Presents risks, pros and
cons in a logical manner to enable decision making. Understands the
regulatory landscape well.
"
ILFR1000 2019
Real Estate
ACSV Legal provides advice on real estate and construction matters. We take a commercial approach while focussing on achieving our clients’ objectives.
Our team provides advice on every implementation phase of a real estate project, performs legal due diligence of the potential project partners, supports in obtaining the license for project implementation, in land acquisition, with landlord or tenant issues, advises on project financing as well as sale of land and real estate.
We have acted for entrepreneurs, high-net worth individuals, investors, landlords and tenants across commercial property transactions, development projects and high value residential sales and purchases.
Taxation
ACSV Legal lawyers are experts in both corporate and commercial Vietnamese law and can thus provide our clients with appropriate tax advice.
When our clients require advice on complex tax laws encompassing multiple jurisdictions we collaborate with team members from practice groups across the region to provide them with a more comprehensive solution.
Our sister company Domicile Corporate Services supports with ongoing corporate compliance post-company establishment such as accounting, tax payroll and human resources compliance. For more information see www.domicilecs.com
Wealth and Private Client
The lawyers who comprise our wealth and private client practice advise Vietnamese high-net worth individuals and families, family offices, closely held businesses on all matters affecting their business, personal and family wealth, as well as the institutions entrusted with effectively managing that wealth.
Wealthy families and their advisers require sophisticated legal services across multiple disciplines. Our experience encompasses the full range of issues, including tax planning, corporate and business law, mergers and acquisitions, estate planning, trusts and estates administration, business succession planning, wealth structuring and family asset protection.
More than just a legal service provider, we often become a trusted partner as committed to achieving the clients’ goals as they are – a legal counsel to be part of the family. This is essential as our Vietnamese clients require the highest level of trust and commitment from their advisors.
ACSV Legal offers a holistic service built around the unique needs of each individual and family, representing clients on a wide range of business activities across multiple countries. We make our clients’ lives easier by providing a single point of lawyer contact through which they can access our international network of specialists.
Our practice covers:
- Succession planning, wills and probate
- Wealth structuring and tax planning
- Family asset protection
- Family businesses and family office
- Corporate administration and compliance
MARK OAKLEY
Mark Oakley is the founder and managing partner of ACSV Legal and has been advising on foreign direct investments into Southeast Asia for more than a decade. Prior to establishing ACSV Legal Mark worked at large international firms in London, Singapore, the Middle East and Vietnam. Mark is a 2001 graduate of the College of Law and a 1999 graduate of the University of Surrey and was admitted as a Solicitor of the Senior Courts of England & Wales in 2003. Mark is a registered foreign lawyer in Vietnam.
Besides being a native English-speaker, Mark is fluent in German.
Mark has advised multinational clients on various international transactions involving large scale energy and infrastructure projects, banking, structured finance, M&A, joint ventures, acquisition finance and commercial agreements.
“Mark is a reliable adviser possessing outstanding expertise in private equity and cross-border transactions, combined with strong negotiation skills”
Legal 500 Asia Pacific 2018
Mark has been recognised as a leading expert for Corporate Law advice in Vietnam. He is nominated as the exclusively recommended Corporate Law expert in Vietnam by Advisory Excellence.
Mark is a recognised practitioner
Chambers & Partners Asia Pacific 2019 and 2020
"Mark and his team are perfect partners for us. I would not hesitate to recommend ACSV to any of my friends or colleagues. Mark’s team is particularly knowledgeable on cross-border private equity structuring and transactions.”
ILFR1000 2019
‘Mark Oakley has a long-time experience in Vietnam and has advised so many and diverse deals that we are happy we can source from his experience. Mark advises us on what is possible and what not, and how we can realise our plans. He can do this based on his long-term experience not only in Vietnam but also in other countries and (in Singapore, the UK and the Middle East) as well his thorough knowledge of our company.’
Legal 500 Asia Pacific 2021
Mark is a recognised lawyer for M&A.
Legal 500 Asia Pacific 2021
TIM DOBSON
Tim Dobson serves as an of counsel at ACSV Legal and heads the Energy Practice. He has over 35 years experience at major international law firms such as Linklaters, Deacons, Allen & Overy and DLA Piper in London, Hong Kong, Vietnam and Thailand.
Tim holds an LL.B (Hons) from the Faculty of Law of the Edinburgh University in Banking, Corporate, Finance, and Securities Law. Tim is a United Kingdom and Hong Kong qualified lawyer.
Tim has an extensive experience in Southeast Asia and has been advising multi-internationals, local clients and small enterprises on a wide range of transactions from large complex cross-border deals to small investments in various sectors such as Energy, Business, Corporate, Commercial, Private Equity, Hospitality, Real Estate and Construction, and Banking and Finance.
Tim and his team have mainly acted for sponsors, lenders and corporates with regard to relevant agreements, such as power purchase agreements, offtake agreements, project and equity finance, EPC agreements, leasing, joint development agreements, and collaboration and consortium agreements. He also has advised clients on corporate and tax structuring, licensing and technology transfer.
HIEU PHAM
Hieu Pham joined the team in April 2014 and is a special counsel at ACSV Legal. Hieu earned his LLB at the University of Economics and Law in August 2012 and has been a qualified lawyer since August 2017. He was admitted as a member of the Ho Chi Minh City Bar Association in 2017.
Hieu is a native Vietnamese speaker and fluent in English.
Hieu works and focuses on a variety of cross-border mergers and acquisitions, private equity, joint ventures and all forms of foreign direct investments, assisting clients in various sectors including health and fitness, food and beverages, information technology and hospitality, finance industry, digital marketing companies.
Hieu has also been active in providing counsel to high-net-worth families and clients concerning all aspects of estate and tax planning and family asset holding structuring. In particular, Hieu helps clients transfer significant family wealth seamlessly while minimizing tax liability across different jurisdictions including the U.S., Singapore, Australia, Hong Kong, Malaysia. He represents high-net-worth clients to work with banks, trustees, local counsel, tax advisors across continents during the planning, structuring and executing exercise. Hieu regularly advises clients on pre-immigration tax planning, family asset holding structure, creation of family trusts and acquisition of overseas assets.
‘Hieu Pham has a good overview of our business and is well aware what the impact of a decision is. He has a good commercial view as well as legal eye for matters we worked on. He is very creative and comes up with solutions that we believe would not have been provided by other lawyers, not even at the big international law firms in Vietnam.’
Legal 500 Asia Pacific 2021
Hieu Pham is a recognised lawyer for tax (wealth and private client).
Legal 500 Asia Pacific 2021
VU NGUYEN
Vu Nguyen serves as of counsel at the Energy Practice of ACSV Legal andpis managing Partner at Venture North Law. He obtained an LL.B from the Hanoi Law University, and an LL.M from Nottingham University, United Kingdom. He is a member of the Hanoi Bar Association.
Vu has extensive experience in advising strategic investors, sponsors and lenders of large infrastructure projects, equitisation of large State-owned enterprises and corporate restructuring. He has advised either project developers or international financial institutions on BOT contracts, Government guarantees, and financing documents for various energy and power projects, including solar and wind. He has played a pivotal role advising clients in the three largest equitisations of State-owned enterprises to have successfully attracted foreign strategic investors.
Vu also advised major international insurance companies, financial institutions and investment funds on investment restructuring in Vietnam, including strategies for exiting or acquiring majority positions in their existing investments in Vietnamese companies.
“Vu is well regarded for his in-depth knowledge of corporate law in Vietnam.”
Chambers & Partners Asia Pacific 2020
DUNG HA
Dung Ha serves as of counsel at the Energy Practice at ACSV Legal and is partner at Venture North Law. She obtained an LL.B from the Hanoi University of Law and is a member of the Hanoi Bar Association.
Dung has 13 years of experience with local and foreign law firms inside and outside Vietnam, in particular she has 7 years of experience with VILAF, a leading local law firm and 4 years with Mori Hamada & Matsumoto in Tokyo, Japan, one of the Big Four Japanese law firms.
Dung speaks Vietnamese, English and Japanese.
Dung started in the banking, finance and capital market practices and diversified to the Corporate / M&A practice and she has advised major foreign companies in investments in Vietnam. She also has substantive experience in project finance and has acted for foreign sponsors on the corporate structure and financing of various BOT power projects in Vietnam including wind and solar, as well as advised foreign and local lenders on structure and financing of various projects related to mine or and port projects.
Dung is ranked as a notable practioner for Corporate / M&A.
AsiaLaw 2020
CHUNG LE
Chung Le serves as an of counsel at the Energy Practice of ACSV Legal and is the managing partner at Construction Law Vietnam Counsellors.
Chung is qualified to practice in Vietnam, New York and before the Supreme Court of the United States. Chung holds an LL.B degree from the Hanoi Law University, an LL.M degree from Duke University School of Law and an MBA degree from the French Vietnamese School of Management.
Chung is one of the few experienced international lawyers in projects, project finance, construction and dispute resolution in Vietnam. He has over 18 years of practicing experience. Chung has acted as a legal adviser in several highly significant country-changing infrastructure and energy projects such as an USD9 billion refinery and petrochemical project, one of the largest in South East Asia, several complex gas-to-power, LNG-to-power projects and a number of coal-fired power plants in Vietnam.
ELAINE CHEW
Elaine Chew is a senior associate of ACSV Legal and joined the team in 2014. Prior to joining ACSV Legal, Elaine worked at international law firms in Malaysia and Vietnam. Elaine is a 2007 graduate from the University of Reading and was admitted as Advocate and Solicitor of the High Court of Malaya in 2010. She is a registered foreign lawyer in Vietnam.
Elaine is fluent in English and Malay.
Elaine has been involved in a wide range of corporate real estate transactional matters. This experience covers mergers and acquisitions, joint venture arrangements, investment structures, management arrangements and private equity transactions. Elaine has also worked for local and international corporations in the private equity, hospitality and tourism, food and beverages, retail, education and healthcare sectors, covering a spectrum of projects ranging from commercial, high-end condominium and villa resort developments to retail development projects.
MINH NGUYEN
Minh Nguyen joined the team in 2019, and is a senior associate and head of the dispute resolution practice at ACSV Legal. Minh Nguyen joined the team in 2019 after having worked nearly ten years for some international law firms and corporations, including a Magic Circle firm. Prior to joining ACSV Legal, Minh worked as Legal Compliance Manager in the SEA&NZ Business Unit of the largest brewing company in the world. In this position, Minh was responsible for compliance of four different Vietnam-based entities with anti-bribery laws and anti-trust laws of the US, UK and Vietnam as well as other applicable laws. She also led a project related to the group restructuring in Vietnam, and a solar project to supply clean energy to two Vietnam-located breweries.
In addition to a strong corporate and compliance background, Minh also has an impressive track record in international arbitration. She obtained an LLM in International Arbitration from Pepperdine University with one of the highest-grade point averages in her graduation class. While studying in the United States, Minh was a research assistant for Professor Thomas Stipanowich, the Academic Director of the Straus Institute for Dispute Resolution - Pepperdine University, who is one of the four Companions (the highest honour) of the Chartered Institute of Arbitrators. As the Head of Dispute Resolution Practice of ACSV Legal, Minh has directly advised and represented clients in some multi-million-dollar cases arbitrated by the SIAC and the ICC.
She was admitted to the HCMC Bar Association in 2014.
In 2016 she was granted the prestigious Fulbright scholarship.
Minh has been a registered arbitrator at the Pacific International Arbitration Centre in Vietnam since 2018 and was appointed as arbitrator in two different arbitration cases. Minh is a member of various arbitration networks in the USA, Singapore, the United Kingdom and the Netherlands. In addition, she is an Adjunct Lecturer for a course in the Master of Civil Law Program – a joint program between the University of Economics and Law of Vietnam and the University of Paris 1 Pantheon-Sorbonne.
Minh is fluent in English and Vietnamese.
Minh has advised clients in arbitration and litigation, and has advised on a variety of cross-border mergers and acquisitions, and forms of foreign direct investments, has assisted clients in various sectors including food and beverages, hospitality, agriculture, education, banking, pharmaceutical, gaming, and apparel.
KEN Y. FUKUDA
Ken Y. Fukuda serves as Of Counsel for ACSV Legal Vietnam and is a partner at Homma & Partners in Tokyo, Japan. Ken has over twenty years of experience specialising in various areas of international business transactions. Ken earned a doctorate degree in 1996 from Suffolk University Law School in Boston. He is a member of Daini Tokyo Bar Association, New York State Bar Association, California State Bar Association, and Hawaii State Bar Association. Ken is a registered foreign lawyer in Vietnam.
Ken is fluent in English and Japanese.
Ken has extensive experience in corporate affairs, M&A, real estate and immigration, but also judicial, mediation and arbitration hearings.
LEIF SCHNEIDER
Leif Schneider joined the team in May 2021 as senior associate and heads the German Desk. After earning his legal credentials at Germany’s most
reputable law school (LMU) and the Higher Regional Court of Munich, he has been
advising his international clients in different roles as a member of the German
Bar Association since 2016. Before joining ACSV, he advised his clients in
corporate/M&A and IP matters across various jurisdictions (Germany, France,
Hong Kong, Thailand, and Vietnam) and industries such as healthcare & life
sciences, financial sector, energy/infrastructure projects, manufacturing,
trade.
He has been admitted to practice as a foreign-registered lawyer in Vietnam since 2018.
Leif is fluent in English, German and French.
Leif’s practice clusters around Corporate/M&A, foreign direct investment (FDI), international arbitration, intellectual property (IP) and data security. As Head of the German Desk, his special focus lies on German and other European investment into Vietnam. He regularly contributes to publications on current Vietnamese and regional developments and is thus well-equipped to successfully structure and implement your investment in Vietnam.
HUYEN PHAM
Huyen is a senior associate at ACSV Legal and heads the Japanese Desk. She joined the team in May 2019. Prior to joining ACSV Legal, Huyen worked at the largest Japanese law firm Nishimura & Asahi, and in various positions at Vietnamese subsidiaries of Japanese companies in Vietnam.
She has published articles in ILFR on Solar power regulations and Private-Public Partnerships in Vietnam.
Huyen obtained her LL.B from the HCMC University of Law in 2001 and is a member of the HCMC Bar since 2015.
Besides being a native Vietnamese-speaker, Huyen is fluent in Japanese and English.
Huyen has expertise in legal due diligence, drafting various types of contracts. She has also supported numerous companies to establish an entity in Vietnam and obtain the relevant licences.
PHUONG HUYNH
Phuong Huynh joined the team in April 2013 and is a senior associate at ACSV Legal. She earned her LLB at the Ho Chi Minh City University of Law in August 2013 and is a qualified lawyer since June 2017. Phuong was admitted to the Ho Chi Minh City Bar in 2018.
Phuong is fluent in English and Vietnamese.
Phuong has assisted on a wide range of legal matters and has particular expertise in lease-related matters. She also has experience in foreign direct investment in Vietnam, incorporation of offshore companies, intellectual property, franchising, and drafting of commercial contracts and other related documents in domestic and international transactions.
AN TRAN
An Tran joined the team in April 2014 and is a senior associate at ACSV Legal. He holds a Bachelor’s degree from the Ho Chi Minh City University of Law and obtained his Practising Certificate for Lawyers in 2019. An was admitted to the Ho Chi Minh City Bar Association in January 2020.
An specialises in legal matters relating to company set-ups, acquisitions, joint-venture and all forms of foreign direct investment. Some of the clients he has worked with include businesses in the field of health and fitness, insurance, food and beverages, e-commerce, quality testing and inspection, education, and repair & maintenance. An has established expertise in legal due diligence, drafting various types of commercial contracts, terms and conditions for clients/users in fitness, healthcare, and e-commerce sectors.
KATIE O'CONNELL
Katie O’Connell is an associate at ACSV Legal. She joined the team in June 2018. She is a member of the California Bar. Prior to coming to Vietnam, Katie worked as a law clerk in California, United States. She holds a Bachelor of Arts in History from the University of San Diego and a Juris Doctor from the California Western School of Law.
Katie is registered as a foreign lawyer.
Katie has worked on a variety of cross-border mergers and acquisitions, joint ventures and all forms of foreign direct investments, assisting clients in various sectors including health and fitness, food and beverages, information technology and hospitality.
THU NGUYEN
Thu Nguyen joined the team in December 2014 and is an associate at ACSV Legal. Thu graduated from the Ho Chi Minh University of Law in August 2014 and is a qualified lawyer since June 2019.
Thu has experience with the preparation of data rooms for domestic and offshore financing projects, and due diligence. She also advises on procedures and documents required for incorporation and operation of new companies in Vietnam and on licensing matters for foreign direct investment projects in Vietnam, and liaises with competent authorities on the same.
Thu has advised on matters for an emerging food and beverages group on the acquisition of various restaurant chains and acted for founders in the sale and issuance of shares in a confectionery manufacturing company. Thu supports ACSV Legal's client in the manufacturing industry.
TRANG PHAN
Trang Phan joined the team in July 2015 and is an associate at ACSV Legal. Trang graduated from the University of Economics and Law in August 2015. She is a qualified lawyer since June 2019.
Trang works on a variety of cross-border mergers and acquisitions, incorporation of offshore companies and other matters relating to business operations. Trang also has experience in licensing matters for foreign direct investment projects in Vietnam. She has also been involved in due diligence exercises and in performing legal research on a number of commercial issues in corporate, employment and retail matters. Trang also has extensive experience in supporting private clients in their estate planning and wealth management.
LINH NGUYEN
Linh Nguyen joined the team in April 2017 and is an associate at ACSV Legal. Linh graduated from the Ho Chi Minh City University of Law in August 2017.
Linh has experience with legal research on several issues in corporate, investment as well as commercial matters. Linh has also been involved in due diligence exercises and in preparation of application dossier for incorporation of domestic and foreign-invested enterprises.
LY NGUYEN
Ly Nguyen joined the team in April 2017 and is an associate at ACSV Legal. Ly’s first major is Financial Business Administration and in 2018 she graduated from the Ho Chi Minh University of Law for her second major.
Ly has experience in the preparation and submission of application dossiers for incorporation of domestic and foreign-owned enterprises as well as drafting of various commercial agreements. She also performs legal research on several commercial issues in corporate, tax, employment, construction and real estate.
NGUYET LE
Nguyet Le joined the team in July 2017 and is an associate at ACSV Legal. Prior to working at ACSV Legal, she worked at a large law firm in Vietnam. Nguyet graduated from the Ho Chi Minh City National University, Economics and Law Faculty, in August 2015. She is a qualified lawyer since June 2019.
Nguyet has been involved in matters in relation to licensing matters for foreign direct investment projects in Vietnam as well as incorporation of offshore companies and other matters relating to business operations. Nguyet has also been involved in due diligence exercises and in performing legal research on a number of commercial issues in corporate, employment and retail matters.
HUONG VO
Huong Vo is an associate at ACSV Legal. She joined the team in May 2019. Huong graduated in 2017 from the HCMC University of Law with double majors, including Law and Business Administration.
Prior to working at ACSV Legal, she worked at another law firm and at the compliance department of the SEA&NZ Business Unit of the largest brewing company in the world and of a Japanese specialist shopping mall developer.
Huong has experience in drafting and reviewing contracts, supported with company compliance for four different Vietnam-based entities with anti-bribery laws and anti-trust laws of the US, UK and Vietnam as well as other applicable laws. She has also experience in compliance issues related to the healthcare industry.
DUC TRAN
Duc Tran is an associate at ACSV Legal and joined the team in August 2019.
Prior to working at ACSV Legal he worked at another international law firm in Vietnam as well as a local Vietnamese law firm. Duc has a bachelor from the University of Law and Economics in Ho Chi Minh City. Duc was admitted to the HCMC Bar Association in November 2019.
Duc has experience in conducting legal research, preparing advice on corporate matters, in drafting corporate documents. Duc also has experience in supporting foreign companies to set up a company in Vietnam and has participated in legal due diligence.
TRUONG LE
Truong Le is an associate at ACSV Legal and has joined the team in October 2019. Prior to joining ACSV he worked at international law firms in HCMC. Truong has an LL.B in Law of the International Law Faculty in HCMC, and an LL.M in International and European Business Law of the Jean Moulin University in Lyon, France. He took an advanced course in International Arbitration Law, at the Comité français de l’Arbitrage in Paris, France.
Truong is a selected mentee in the 2020-2021 Young International Council for Commercial Arbitration (ICCA) Mentoring Program to attend a young arbitration practitioner group for commercial arbitration led by Mr Chan Leng Sun – Senior Counsel of the Supreme Court of Singapore and Deputy Chairman of the Singapore International Arbitration Centre (SIAC).
Besides Vietnamese, Truong speaks English and French.
Truong has experience in conducting legal research, reviewing and revising contracts, drafting memorandums, contracts, legal advices for corporate clients.
PHUONG NGUYEN
Phuong Nguyen is a junior associate at ACSV Legal and joined the team in July 2019.
She has double bachelor’s degrees in Legal English and Vietnamese Law from the Ho Chi Minh University of Law. Prior to joining ACSV Legal, she worked at another Law firm in Vietnam for 2 years.
Phuong has experience in drafting and reviewing various corporate agreements, in drafting legal audit reports as well as in supporting foreign investors with setting up an entity in Vietnam. She also performs legal research on a number of commercial issues in corporate, employment, and construction.
CUONG TA
Cuong Ta is a junior associate at ACSV Legal and joined the team in July 2019.
Prior to joining ACSV Legal Cuong worked at an healthcare investment company for several years. He has a double bachelor’s degree in Legal English and Vietnamese Law from the Ho Chi Minh University of Law.
Cuong has experience in reviewing healthcare related investment contracts, has supported in healthcare M&As and has experience in banking & finance related matters.
PHUONG HONG NGUYEN
Phuong Hong Nguyen is a junior associate at ACSV Legal and joined the team in October 2020.
She has a bachelor’s degree in International Commercial Law
from the Ho Chi Minh University of Law. Phuong participated in various international student conferences in the USA, Philippines, South Korea and Thailand on topics such as international privacy, sustainable development goals and environmental law related issues.
Phuong has experience in drafting various legal documents and has experience in performing legal research on a number of commercial issues in corporate law including employment.
CHAU NGUYEN
Chau Nguyen joined ACSV Legal in October 2020 and is a junior associate.
Chau Nguyen has a bachelor in law of the University of economics and law in Ho Chi Minh City. She participated in moot court at Kobe University Summer School of Asia Law and Dispute Management in Japan.
Chau has experience in reviewing and drafting contracts and other legal documents and performing research on a variety of topics.
THIEN PHAM
Thien Pham joined the team in January 2021 and is a junior associate at ACSV Legal. Thien graduated from the Ho Chi Minh University of Law in July 2018. Thien obtained a LL.M with Distinction in International Trade and Economic Law from the University of the West of England.
Thien has experience in drafting of various commercial agreements. He also performs
legal research on several commercial issues in corporate, tax,
employment, construction and real estate. Thien also has experience in the preparation and submission of application
dossiers for incorporation of domestic and foreign-owned enterprises.
KIM NGUYEN
Kim Nguyen joined the team in January 2021 and is a junior associate at ACSV Legal. Kim graduated from the Ho Chi Minh University of Law in August 2020.
Kim holds an LL.B in Commercial and CIvil (International Advanced Program) of the Ho Chi Minh City University of Law.
Kim has experience as inhouse counsel and has supported with legal due dilligences, drafted commercial agreements and performed legal research in corporate, tax, employment, construction and real estate. She also has experience in the preparation and submission of application dossiers for incorporation of domestic and foreign-owned enterprises.
MARIEKE VAN DER PIJL
Marieke van der Pijl is Practice Manager at ACSV Legal. She joined the team in June 2017. Marieke has worked as the Knowledge & Business Development Manager of the law firm Gide Loyrette Nouel, Vietnam. She is a member of the Executive Committee of the European Chamber of Commerce in Vietnam and a member of the Board of the Dutch Business Association (DBAV) in Vietnam and chairs the advocacy group within the DBAV. Marieke has been the Vice-Chair and Legal Consultant of the Food, Agri and Aqua Business Sector Committee of the European Chamber of Commerce in Vietnam, and Chair of the Agribusiness Working Group of the Vietnam Business Forum. Before moving to Vietnam in 2011, she held various legal positions in the Netherlands and Belgium.
Marieke holds an LL.M in European and International Law of the Radboud University, Netherlands. She has studied a year at the Law Faculty of the University of Poitiers, France.
She is the co-author of the article Corporate Governance in Vietnam – its significance and challenges as published in the International Journal of Corporate Governance, Vol. 7, No. 1, 2016 and author of the chapter on Food Safety and Agriculture in the Whitebook of the European Chamber of Commerce in Vietnam, edition 2015, 2016, 2017 and 2018.
Marieke speaks fluent Dutch, French, English, Italian and also Vietnamese, German and Spanish.
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After Brexit the UK negotiated an FTA with the Vietnamese government to be able to enjoy similiar or better trade conditions as it would have had under the EVFTA. In this update you can read some notable points. The UKVFTA will enter into force on 1 May 2021.
DECREE 31 GUIDING THE IMPLEMENTATION OF THE 2020 LAW ON INVESTMENT
Decree 31 provides details to implement the new Law on Investment. Note that there will be changes with regard to the approval of the investor and investment policy, investment guarantee, amendment of investment project, escrow deposit, market access and its conditions. In this update we will set out some points that changed compared to the draft decree which was issued last year.
DRAFT CIRCULAR GUIDING IMPLEMENTATION LAW ON TAX ADMINISTRATION
The Draft Circular provides guidance on the tax compliance procedure, tax refund, the tax audit process and other tax administration related subjects. The draft is in particular relevant for e-commerce activities and digital-based businesses.
GDPR-LIKE DRAFT DECREE ON DATA PROTECTION INTRODUCED
The draft Decree on Personal Data Protection was recently circulated for public discussion. Many of the draft provisions are similar to those in the European GDPR, addressing matters such as cross-border data transfer and appointment of data protection officers. Fines for non-compliance can reach up to 5% of annual turnover.
DECREES & CIRCULARS GUIDING THE IMPLEMENTATION OF 2019 LAW ON SECURITIES
Various decrees and circulars were issued to guide the implementation of the Law on Securities which entered into force on 1/1/2021, guidance can be found on derivatives and the derivatives market, conditions to provide securities lending services, stock offered at below par value price, public offerings, administrative penalties, and the supervision of securities trading.
NEW DECREE GUIDING THE IMPLEMENTATION OF THE 2020 LAW ON ENTERPRISES
Decree contains guidelines on a coordinating mechanism for enterprise registration, cooperation related to registration of securities companies and fund management companies, concurrent registration of various points related to the enterprise such as the form or legal rep and additional regulations relating to legal status of enterprises are introduced.
DRAFT DECREE: WILL PPP ATTRACT MORE INVESTMENTS?
The draft decree does address various points, however, there is still need for clarification with regard to for example the law governing PPP project contract, conditions related to equity transfer, disposal of collaterals, and restrictions on equity transfer as well as definition of policy enabling changes in developing a PPP project.
DECREE 152 PROVIDES GUIDANCE ON EMPLOYING FOREIGNERS
Decree 152 provides guidance on employement of foreigners following the entering into force of the new labour code per 1 January 2021. There are some changes related to exemptions as well as the requirements to be qualified as an expert or technical worker.
LNG-TO-POWER PROJECTS IN VIETNAM AND KEY LEGAL ISSUES
A short overview of the market landscape for the LNG-to-power projects as well as the key legal issues that would have to be taken into consideration, such as bankability, PPA, security assets, government guarantee and undertaking and equity contribution timeline.
DRAFT DECREE TO IMPLEMENT THE NEW LAW ON ENTERPRISES
The decree is expected to enter into force at the same time as the Law on Enterprises, being 1 January 2021. Some of the interesting changes are related to the enterprise registration, the suspension of it as well as the legal status of an enterprise.
DRAFT DECREE TO IMPLEMENT NEW LAW ON INVESTMENT
The Draft Decree provides details to implement the new Law on Investment. Note that there will be changes with regard to the approval of the investor and investment policy, investment guarantee, amendment of investment project, escrow deposit, market access and its conditions.
DECISION ON FiT CRITICAL FOR WIND ENERGY DEVELOPMENT IN VIETNAM
In order for Vietnam to meet its energy demands it is important to increase the energy capacity. With the slow in investment and the impact of Covid-19 on foreign investments, it is important that a transparent and reasonable FiT scheme will be announced as soon as possible.
LAW ON COURT-ANNEXED MEDIATION AND DIALOGUE
This law intends to settle disputes under the umbrella of the courts and will be applicable to various types of disputes, such as disputes concerning civil transactions, commerce, labour, marriage and family as well as administrative disputes. This is broader than the currently applicable Decree 22 which only applies to commercial disputes.
DISTRESSED M&A IN VIETNAM: ISSUES TO TAKE NOTE OF
As a result of COVID-19 pandemic, business owners might be forced to sell their company or parts of it. If you would like to buy such a company there are various issues that you might need to consider. In this update we set out some of the most important issues you need to think of to minimise the risk, such as various approvals that could be required but also how to structure the deal.
EVFTA: IMPLEMENTING DOCUMENTS ISSUED
Finally, on 1 August 2020 the free trade agreement between the EU and Vietnam entered into force. This agreement is expected to increase trade between the EU and Vietnam. Various implementing documents have been issued recently. Important is the rule of origin determination to qualify for reduced tariffs.
LAW ON INVESTMENT 2020 APPROVED
The law changes the foreign ownership ratio for defining a Foreign Invested Entity. There are several changes with regard to incentives and business lines. Also more clarity is given on which law prevails in certain circumstances related to investment. An important point is also the change related to the requirement of obtaining an M&A approval.
LAW ON ENTERPRISES 2020 APPROVED
Some important changes are that a digital signature will have equal validity as an original seal and the rights of minority shareholders will be protected better. Other changes are related to corporate governance for JSCs. The amended law also will imply less administrative hassle.
WEBINAR: WHAT TO DO WHEN YOU RECEIVE A FORCE MAJEURE NOTICE?
If you could not join the webinar on 'What to do when you receive a Force Majeure Notice?' please read the slides presented by Minh Nguyen, Senior Associate and Head of Dispute Resolution Practice at the webinar organised by the Society of Construction Law as one of the four experts or watch the presentation.
DRAFT RESOLUTION TO SUPPORT BUSINESSES AFTER COVID-19 PANDEMIC
The draft resolution contains measures related to tax, loans, labour, import & export, incorporation and business promotion that will support businesses and individuals to cope with the negative impact of the Covid-19 pandemic. This further to measures that have already been taken, such as the ones set out in Decree 41.
RENT SUSPENSION CLAUSE AS SOLUTION TO LEASE ISSUES RESULTING FROM COVID-19
During the past weeks, businesses were forced to suspend their operation or could not use their offices, but they had to pay rent, nevertheless. In this update a solution to address lease issues will be introduced.
DECREE 35 PROVIDES GUIDANCE ON THE COMPETITION LAW
Decree 35 provides detailed guidance on, amongst other things, how to determine relevant market and market share, the specific threshold figures for economic concentration notification, the anti-competitive effects, and market dominance based on significant market power; and gives a definition of controlling or influence for merger control purposes.
DEFERRAL OF TAX AND LAND RENT PAYMENT TO SUPPORT BUSINESSES DURING COVID-19 EPIDEMIC
Decree 41 serves to support companies during the Covid-19 Epidemic. It sets out which taxes (VAT, CIT, PIT) and land rent can be deferred for how long and in which sectors. It is worthwhile to be aware that the tax authorities may not agree with deferral as requirements are not met and penalties might apply. Furthermore, if the fiscal year is not the same as a calendar year it is not clear if deferral will be possible.
BUSINESS CONDITIONS ON TRANSPORTATION SERVICES REDEFINED
The long-awaited Decree 10 sets out several business conditions applicable to a transportation business by vehicles. These businesses include the app-based taxi services provided by Grab and Be. The discussion that has been going on for a long time on the type of services they provide has probably come to an end.
IMPACT OF CORONAVIRUS OR 2019-NCOV EPIDEMIC
A substantial amount of information has been shared on the economic impact of the Corona virus, however, what does it mean for your business from a legal perspective. In this update we will set out some issues you might have to consider in light of the Labour Code as well as the Civil Code in connection with the steps taken by the Government.
FOCUS NEW LAW ON TAX ADMINISTRATION ON GOVERNANCE AND ENFORCEMENT
The law will also impact e-commerce activities of offshore entities; and introduces new definitions. Finally, legal reps need to be aware that they can be prevented from exiting Vietnam when the company has not paid due taxes. Please note that 6 months remain to take measures to remain compliant.
2019 LAW ON SECURITIES EXPECTED TO DEVELOP VIETNAM’S SECURITIES MARKET
The 2019 Law on Securities for the first time ever mentions foreign investors' participation on the securities market. The law also amends and adds definitions, and separates the initial and additional public offering. Furthermore, the conditions for both public and non-public offerings will be tightened, and the maximum fin