News

EASIER ENTRY INTO VIETNAM FOR FOREIGNERS AND OVERSEAS VIETNAMESE

After almost 2 years of limited access, it will become easier for foreigners with a business visa, visa exemption, temporary or permanent residence cards, overseas Vietnamese and their family members to enter Vietnam. Tourists are expected to be able to come to Vietnam later this year without having to join an organised tour.

20 Jan 2022

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.

27 Sep 2020

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.

30 Jun 2020

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.

30 Jun 2020

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.

27 May 2020

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.

25 May 2020

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.

15 May 2020

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.

30 Apr 2020

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.

10 Apr 2020

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.

30 Mar 2020

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.

20 Feb 2020

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.

30 Jan 2020

NEW LABOUR CODE MORE IN LINE WITH INTERNATIONAL LAWS

The new Labour Code includes substantial changes to recognise the evolution of labour relationships under the impact of the Industrial Revolution 4.0. Important is also that the draft for the first time contains a definition of sexual harassment, which is already prohibited under the current Labour Code.