Once a foreign investor wishes to invest in Vietnam, they not only need to be well-informed about investment environment, incentive, labor, State policies, but also need to know about CPC code. Each specific service is fixed with a provisional Central Product Classification (called CPC code) belonging to Central Product Classification of United Nations. In the … Read More
Legal Based: Law on Accounting 2015; Circular 297/2016/TT-BTC on granting, management and usage of certificates of eligible for providing accounting services. 1. Form of business a. An accounting firm may be established in the form as follows: A multi-member limited liability company; A partnership; A private enterprise. The accounting firm must not contribute capital to … Read More
Foreign entities can set up company or set up branch offices in Vietnam to carry out business activities. There are several main different aspects between opening a branch office or establishing a foreign owned company in Vietnam. 1.Conditions -Permits for establishment of Vietnam-based branches of foreign enterprise shall each have a valid term of five years. … Read More
To set up a business in Vietnam through foreign direct investment, foreign investors need to register the investment license from Vietnam Ministry of Planning and Investment (MPI). Depending on investment business lines, investment conditions, scale of the projects, where investment project is located, other Vietnam State authorities would be involved. MPI in Vietnam takes charge … Read More
Before Vietnam joined World Trading Organization (WTO), distribution and import, export activities conducted by foreign owned entities are strictly regulated by Vietnam government. As such, foreigners could only conduct the import of goods through the Vietnam agents. Since 2007, Vietnam has become an official member of WTO and it had to commit a route to open local market … Read More
Foreign investors setting up business in Vietnam have to comply with statistics report submissions according to Vietnam laws. To ensure compliance, corporate lawyers should be consulted to ensure compliance with reports applicable to foreign owned enterprises in Vietnam. As the current regulation, foreign owned enterprises are obliged to submit monthly, quarterly, six month and annual reports … Read More
Law on amendment and supplement to Article 6 and Annex 4 on the list of conditional business lines stipulated in the Law on Investment has been ratified by the 14th national assembly of the Socialist Republic of Vietnam at the second meeting session dated November 22nd, 2016. Accordingly, pursuant to the constitution of the Socialist Republic … Read More
With the increasing infrastructure demands, while the budget and ODA resources are limited, the call for private investment in infrastructure projects is seen as viable solution. Thus, the Government issued Decree 15/2015/ND-CP on February 14th 2015, provides for regulations on investment in the form of public-private partnerships (PPP) which will partially solve the real problems … Read More
Vietnam law recently has some new regulations on the procedure of marriage registration with foreign element in Vietnam. According to the Civil Status Law, the changes in the marriage registration with foreign element entered into force on January 1st 2016. The new Civil Status Law has strongly decentralized for local government with the provision that … Read More
Vietnam Investment Law 2014 taking effect from July 1st, 2015, replaces the Investment Law 2005 with notable improvements, especially the provisions on business registration in investment projects which foreign investors making investment in Vietnam or setting up business in Vietnam are welcome. The new Vietnam Investment Law in 2014 has brought up the concept of “business investments” to … Read More
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