Decree 101, effective August 1, 2024, outlines new regulations for land registration, LURCs, and land-attached assets in Vietnam. Key changes include clearer timelines for registration, new LURC issuance requirements, unique LURC codes, and improved access to land information. These updates aim to streamline the land registration process and enhance transparency for land users in Vietnam.

Decree 52 on non-cash payments significantly overhauls Vietnam's non-cash payment landscape. With a sharper focus on e-money and international payments, it aims to boost efficiency, transparency, and security. Key changes include a clear definition of e-money, stricter regulations for payment intermediaries, and new rules for public postal service providers.

Social Enterprises Vietnam article explores the legal framework for social enterprises in Vietnam, businesses that prioritize social and environmental goals alongside profit. It outlines the rights and obligations of these enterprises, the process for obtaining social enterprise status, and the challenges they face in the current landscape. Despite regulatory hurdles and limited public awareness, social enterprises in Vietnam are making a tangible impact, as exemplified by Mai Handicraft, Tò He, and The Zó Project. The article concludes with recommendations to strengthen the social enterprise sector, including clearer guidelines, enhanced public support, and increased awareness campaigns.

In the latest edition of our newsletter, read about the new Law on Housing (effective from January 1, 2025) which is expected to create many favorable conditions for apartment owners and mini apartments. Among other things, this new law introduces stricter conditions for investors of commercial housing projects, as well as regulations on removing residency conditions for social housing buyers to move and attract labor between regions and localities and to suit the practical situation in each period.

Law on Real Estate Business No. 29/2023/QH15 has been issued and will take effect in 2025. Law on Real Estate Business provides stricter regulations on brokerage activities, receiving remunerations, and commissions and requires public disclosure of real estate information before putting it into business. With important amendments linked to practice, Law on Real Estate Business will contribute to market transparency and best protect the interests of real estate buyers, renters, and lease-purchasers.

Decree No. 75/2023/ND-CP (Decree 75) has just been issued and took effect from December 2023. Decree 75 is said to have groundbreaking regulations, creating many favorable conditions for insurance participants such as the expansion of eligible subjects for health insurance support as well as increasing the level of health insurance benefits from 80% to 100% for medical examination and treatment costs covered by health insurance for some target groups to enhance the benefits of participants.

ACSV Legal is pleased to be the exclusive contributor for Vietnam in The Legal 500: Investing in Comparative Guide (1st Edition). This new Comparative Guide provides a pragmatic overview of the law and practice of investing in across a variety of jurisdictions, including discussions on governmental approvals and requirements, FDIs, and exit options.

The Government (GOV) has published Decree No. 78/2023/ND-CP aimed at creating a legal basis to ensure safety and efficiency for the operations of the Vietnam Development Bank as well as overcoming and removing obstacles in the process of practical application. Decree 78 regulates cases where credit exceeds the limit to help businesses borrow capital to invest in production and business key projects and also expands the legal framework more reasonably for clients and projects that need loans.

Recently, the new Law on E-Transactions has been issued that will enter into force on 1 July 2024. The new law covers areas such as the issuance of certificates for land use rights and ownership of real estate property, inheritance records, marriage certificates, and divorce decisions. It also introduces new provisions governing the use of open data from state agencies.

Recently a law to amend the existing law protecting consumer rights was adopted. The new law adds one chapter on the liabilities of business organisations and individuals towards consumers in specific transactions. It will enter into force on 1 July 2024.

In the recently updated edition of Chambers Global Practice Guides: Private Equity 2023, ACSV Legal contributed to the Vietnam chapter on Law & Practice and Trends & Developments. The guide provides the latest legal information relevant for PE and M&A such as the structure of transactions, terms of acquisition documentation, public-to-private takeovers, mandatory offer thresholds and hostile takeover offers.

Decree 19 implements the 2022 Law on Anti-money Laundering. It introduces a new definition of “complex transactions”, provides criteria to determine unusual or complex high-value transactions and beneficial owner. It also sets thresholds for when a customer due diligence needs to be conducted.