ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

Thứ Năm, 29 tháng 9, 2022

What Important Step-by-Step Guide to Establish Company in Vietnam?

When foreign investors invest in Vietnam, they could establish company in Vietnam. Foreign investors have the right to choose the appropriate forms of enterprise such as a limited liability company, joint stock company, etc. with specific steps are as follows:



How to establish company in Vietnam?

Step 1: Register the investment project

Investors submit an investment project registration file to the Business Registration office of the province or city or the management board of an industrial zone, an export processing zone or a high-tech zone for the approval of an investment project during the period within 15 days (without time for clarification).

Step 2: Apply for Certificate of investment registration

After approval of the investment project, investors submit a valid record to the Department of Planning and Investment within 10 days to apply for a business registration certificate.

Step 3: Apply for the certificate of business registration

After obtaining the business registration certificate, the investor shall submit the application for enterprise registration certificate to the enterprise registration office within 3 days.

Step 4: Publish the content of the business registration

After being granted the certificate of enterprise registration, the investor shall disclose information about the enterprise on the national enterprise registration portal within 30 days, including the following information:

i, Business lines;

ii, List of founding shareholders and shareholders being foreign investors for joint-stock companies.

Step 5: Registered business stamp

The enterprise has the right to decide on the form, quantity and contents of the stamp of the enterprise. The content of the stamp must show the following information:

-Company’s name;

-Business code.

After receiving the legal entity stamp and before using the business stamp, the enterprise must send a notice on the stamp of the enterprise to the business registration office for publication in the National Information Portal on the business registration.

Step 6: Notice of use of stamp:

After having stamp made, investors submit notices on use of stamp forms to the Investment registration agency. After receiving the record, the Investment registration agency issues a receipt for the enterprise, publishes the notice of the enterprise on the National Business Information Portal and issues a notice of the posting, stamp samples of enterprises, branches and representative offices for enterprises.

Step 7: Open bank account:

Investors need to open two types of bank accounts, namely the investment capital account to receive the investment amount and the transaction account for conducting daily transaction in Vietnam.

Step 8: The post licensing procedures:

For the conditional business lines:

Investors investing in conditional businesses lines as regulated in Appendix 4 of the Investment Law 2014 must apply certificate of business qualification, practicing certificates, professional liability insurance, legal capital requirements, etc. before conducting business in Vietnam.

With highly professional staff and great experience in foreign investment, ANT Lawyers would like to support you in establishing company in Vietnam.

ANT Lawyers - a Law firm in Vietnam with international standard, local expertise and strong international network. We focus on customers’ needs and provide clients with a high quality legal advice and services. For advice or service request, please contact us via email ant@antlawyers.vn, or call us +84 24 730 86 529



Where is least expensive cities for working and living in Vietnam?

Where is least expensive cities for working and living in Vietnam?

The price indexes has always been on top of information list which investors look for when making investment into a new country. Beside various information i.e. GDP, Stock market, unemployment, producer price, interest rate, balance of trade, the investors also check the consumer price index and income to determine the attractiveness of market entry. There are many attractiveness factors including the low cost of living and low level of income in comparable with other neighboring countries, for making investment in setting up company in Vietnam for manufacturing purpose.


Where in Vietnam is cheapest city to live and work?

 According to statistics of 2021, taking Hanoi as the base indicator, the top 10 localities with the most expensive cost of living include: Hanoi (100%), Quang Ninh (99.5%), Ho Chi Minh City (98.98%), Da Nang (96.4%), Hai Phong (95.58%), Lao Cai (94.75%), Son La (94.58%), Lang Son (94.55%) %), Khanh Hoa (94.55%) and Dien Bien (94.41%).

How it has changed since 2015?

The top 10 provinces and cities with the most expensive cost of living in the country in 2015 include: Lai Chau (100.3%), Hanoi (100%), Son La (99.27%), Lao Cai (99.02%), Dien Bien (98.85%), Ho Chi Minh City City (97.39%), Ha Tinh (97.14%), Ha Giang (96.5%), Da Nang (96.44%) and Binh Phuoc (96.12%).

In 2021, Hanoi’s per capita income reaches more than 6 million VND/month.  Since 2016, Hanoi has always been in the top 3 localities with the highest income in the country.

In 2015, Da Nang ranked 9/63 with a price equal to 96.44% compared to Hanoi. By 2017, the city “jumped” to third place, up 6 places compared to 2015. In 2021, Da Nang’s cost of living is 96.4% of that of Hanoi and ranked 4th in the country in terms of expensiveness. In 2021, Da Nang has per capita income of more than 5.2 million VND/month, ranking 5th out of 63 provinces and cities. Previously, 2019 was the year the city had the highest income in the past 10 years with more than 6 million VND/person/month.

In 2021, Ho Chi Minh City reached 98.98% and ranked 3rd out of 63 provinces and cities in cost of living.   From 2002 to 2016, the city has always been the place with the highest income in the country. From 2018 to present, Ho Chi Minh City maintains the “runner-up” position (behind Binh Duong), in which, 2019 is the year with the highest income with 6.7 million VND/person/month.

Besides the three central cities that are constantly in the top of the most expensive localities in the country, Lao Cai is the only mountainous province.

In 2020, Lao Cai ranked 5th in terms of the expensive level in consumption, equal to 96.52% compared to Hanoi. Lao Cai is the most expensive province among 14 Northern Midlands and Mountainous Provinces (the cheapest is Phu Tho, equal to 91.07% compared to Hanoi, ranked 56th nationwide). By 2021, Lao Cai’s index drop to 94.75%, the lowest level of the place since 2015 until now. With this index, Lao Cai ranks 6th in the country in terms of the expensiveness of the cost of living.

In particular, although the cost of living is quite high, the income of people in Lao Cai is not high. The average income of people in this locality was only 1.8 million VND/person/month in 2016 and ranked 53rd in the country. In 2021, people in Lao Cai earn an average of 2.51 million VND, ranking 55th in the country.

The low level of income and least living cost make Vietnam a favourable destination for investment.  Many labour intensive manufacturers in garment, shoes, furniture… have long chosen Vietnam as a place for establishing company in manufacturing. There are growing number of companies in electronics also manufacture in Vietnam to take advantage of the comparable low wage workforce.

With highly professional staff and great experience in foreign investment, ANT Lawyers - law firm in Vietnam would like to support you to establish company in Vietnam.


Conditions of Setting up Import and Export Company in Vietnam

 Conditions of Setting up Import and Export Company in Vietnam

If a foreign-invested company wishes to apply for export/import or distribution rights, it has to submit the below listed documentation to the competent authorities:



1. Export/Import rights:

The foreign investors who invest to exercise right to export, right to import must follow procedures for grant of investment certificates; the foreign-invested enterprises in Vietnam which supplement the operational business activities for exercise of right to export, right to import must follow procedures for adjustment of investment certificates:

a. Dossier of verification for grant or adjustment of investment certificate as prescribed by law on investment;

b. A written explanation about the satisfaction of conditions in exercise of goods trading and directly related activities;

c. Documents proving the financial capability and experiences of investor in exercise of right to export and right to import;

d. Vouchers of tax agencies on performing the enterprise income tax liability within two consecutive years in the case the foreign-invested enterprises wish to supplement the exercise of right to export, right to import.

2. Trading activities/Distribution

The foreign investors with investment projects on exercise of goods trading and directly related activities in association with the setting up of enterprises must follow procedures for grant of investment certificates.

a. A dossier comprises:

i) Dossier of verification for grant of investment certificate as prescribed by law on investment;

ii) A written explanation about the satisfaction of conditions in exercise of goods trading and directly related activities according to the form MD-6 promulgated together with this Circular;

iii) Documents proving the financial capability and experiences of investor in exercise of business operation of goods trading and directly related activities.

b. After having acceptance opinion of the Ministry of Industry and Trade, the competent state agencies shall grant investment certificate. The investment certificate shall concurrently be business license.  Although not stipulated in the law, before granting an investment certificate with these business lines, the authorities usually consider application on case by case basis, taking into account market stability, population density in the area where the company is located and the consistency of the investment project with the master plan of the said area.

For these business lines the competent authorities must obtain the approval of the Ministry of Industry and Trade before issuing the investment certificate.

3. License for setting up retail establishments

If a foreign-invested enterprise wishes to set up a retail establishment in addition to the first retail establishment, it must follow procedures for license for setting up retail establishment, a dossier comprises:

a. Dossier of verification for grant or adjustment of investment certificate as prescribed by law on investment;

b. Dossier of license for setting up retail establishments, comprising:

i) Application for license to set up retail establishment;

ii) A written explanation about the satisfaction of conditions of setting retail establishments as per the law;

iii) Document of provincial People’s Committee that approves the working result of the Council of checking the economic demand to consider the conformity of setting up of a retail establishment in addition to the first retail establishment.

iv) Report on exercise of goods trading and directly related activities of licensed projects;

v)Vouchers, which are issued by tax agencies, about exercise of enterprise income tax liability in two adjacent years.

After having acceptance of the Ministry of Industry and Trade, the competent state agency shall grant the license for the setting up of retail establishments.

Our lawyers of foreign investment practice at ANT Lawyers - a law firm in Vietnam would like to support you in setting up company in Vietnam.

Source ANTLawyers: https://antlawyers.vn/library/conditions-of-setting-up-import-and-export-company-in-vietnam.html

 

Thứ Ba, 27 tháng 9, 2022

Many “American eagles” expressed their desire to invest and expand into Vietnam

 Many “American eagles” expressed their desire to invest and expand into Vietnam

After the Covid-19 pandemic with unremitting efforts, Vietnam has affirmed its capacity in all aspects with other countries, especially the capability to fight against Covid and quick return focus to business. Therefore, Vietnam is becoming an attractive investment destination for global investors including American companies. With the stable political situation, young and abundant human resources and commitment to investment facilitation from the Vietnam Government, it has become a great motivation for American investors to choose Vietnam as a safe and effective investment destination to expand business and set up company in Vietnam.


On the occasion of Vietnam Prime Minister Pham Minh Chinh’s business trip to attend the Special Summit to celebrate the 45th anniversary of ASEAN- America relations, many big American enterprises such as Intel, Apple and Google have shared their desire to expand the supply chain, cooperate in technology and move production to Vietnam by coordinating with Vietnamese enterprises that have suitable capability to participate. This is also considered a great opportunity for Vietnam to interact with the world’s leading advanced economy to improve its labor capacity and is a potential market for workers to learn and demonstrate their abilities.

Specifically, Apple wants the Vietnamese Government to continue to have preferential policies to encourage high-tech American enterprises to develop business and invest in Vietnam. On the other hand, Apple also affirmed that it will actively consider the Prime Minister’s proposal on increasing the number of domestic suppliers and raising the rate of using domestic services and goods higher in Apple products in the near future.

In addition, Intel also showed its interest in the Vietnamese market by emphasizing the very important role of Vietnam and Vietnamese factories in Intel’s production chain. Moreover, Intel also highly appreciates Vietnam’s infrastructure and human resources as potential conditions for technology enterprises to continue to expand their operations. Especially in today’s volatile world, Intel’s expansion of investment in Vietnam is a strategic solution.

Currently, Microsoft is working with Vietnam’s Ministry of Information and Communications to deploy digital skills programs both private and public sector, and data science development in Vietnam. Accordingly, technology will help enhance transparency and trust, prevent and fight corruption. Vietnam has a young population, a dynamic country, ready to receive new technologies Microsoft wishes to strengthen cooperation with Vietnam in the fields of digital transformation, ensuring network security, helping Vietnam achieve the goal of reducing emissions to zero by 2050 and contribute to helping Vietnam build a green economy, digital economy, and sustainable development.

In addition, in order to attract foreign investment, the Prime Minister emphasized that the “sincerity, trust and responsibility” stance, “harmonious benefits, shared risks” between big American and Vietnamese enterprises will help the relationship between the parties is stable and good. In addition, to implement the commitments it has joined, Vietnam is continuing to build and perfect institutions suitable to Vietnam’s conditions and circumstances. Moreover, the development of strategic infrastructure such as digital transformation infrastructure, transport infrastructure, energy infrastructure, healthcare infrastructure… will also be the focus of completion to attract foreign investors to establish company inVietnam.

Besides, Vietnam continues to improve the open and stable business environment, and effectively handle administrative procedures. In particular, digital transformation will help reduce direct transactions, fight negativity, trouble, corruption, save time and costs for people and businesses. Therefore, Vietnamese businesses need to innovate in both capacity and organization to capture this opportunity well.

With highly professional staff and great experience in business in Vietnam, ANT Lawyers – Law firm in Vietnam would like to support you to establish company in Vietnam.

What Decree 53/2022/ND-CP Detailing a Number of Articles of the Law on Cybersecurity 2018 Cover?

 

What Decree 53/2022/ND-CP Detailing a Number of Articles of the Law on Cybersecurity 2018 Cover?

Cybersecurity is one of the important issues for every country in the increasingly strong development of the internet. Although this development brings great benefits in many areas of life, it is accompanied by challenges to national security such as cybercriminals that appropriate and steal data of the user; taking advantage of the internet to spread false information against the state. Therefore, the promulgation of policies and laws on cybersecurity as a basis for management and optimal measures in order to protect national cybersecurity, eliminating illegal acts in cyberspace is extremely necessary. On August 15th, 2022, the Government issued Decree 53/2022/ND-CP detailing a number of articles of the Law on Cybersecurity 2018. The Decree will take effect from October 1st, 2022 with the following:

Cybersecurity Lawyers in Vietnam

Measures to protect network security: Request the removal of illegal or false information in cyberspace that infringes upon national security, social order and safety, and legitimate rights and benefits of agencies, organizations, and individuals

Requesting the removal of illegal or false information in cyberspace is one of the cybersecurity protection measures specified in the 2018 Law on Cybersecurity. Accordingly, Decree 53/2022/ND-CP has detailed regulations, listing specific cases where this measure can be applied as follows:

-When information in cyberspace is identified by competent agencies to have contents that infringe upon national security, disseminate information that sabotages the Socialist Republic of Vietnam, incite riots, and disrupt public security and order according to regulations of the law;

-When there are legal bases to determine that information in cyberspace has humiliating and slanderous contents; infringes upon the order of the economic management; fabricates and falsifies information, causing confusion among the people and severe damage to socio-economic activities to the extent that such information must be removed;

-When other information in cyberspace has contents including: Distortion of history, denial of revolutionary achievements, undermining national solidarity, blasphemy, discrimination by gender or race; Prostitution, vice, human trafficking; posting pornographic or criminal information; damaging Vietnam’s good traditions, social ethics or public health; Enticing, persuading or tempting others to commits crimes.

The information listed in the above cases are all illegal and false information, and the person who uses cyberspace to spread the above negative information is an act of violation strictly prohibited under the 2018 Cybersecurity Law. Once the above information is widely spread and publicized online, it will adversely affect the security, social order and safety of the country. Therefore, the regulation to apply the measure to request the deletion of the above information is practical for the above cases. The Director of the Department of Cyber ​​Security and Hi-tech Crime Prevention of the Ministry of Public Security of Vietnam and Directors of competent agencies of the Ministry of Information and Communications are the ones who have the authority to decide on the application of measures to remove these information.

Measures to collect data related to acts of infringing upon national security, social order and safety, and legitimate rights and benefits of agencies, organizations, and individuals in cyberspace

The collection of data (data is information in the form of symbols, letters, numbers, images, sounds or equivalences) related to activities infringing upon national security, social order and safety, legitimate rights and interests of agencies, organizations and individuals in cyberspace shall comply with the provisions of law, and at the same time ensure the following requirements:

-Maintenance of the status of digital devices and data;

-The copying and recording of data shall be done according to correct procedures via recognized devices and software that are verifiable and can protect the integrity of data stored in such devices;

-The process of restoring data or search data shall be recorded via minutes, images, and videos. The process may be repeated if it is necessary for presentation at a court;

-Data collectors shall be specialized officials assigned to collect data.

The principles of copying and restoring data related to acts of infringing upon national security, social order and safety, and legitimate rights and benefits of organizations, organizations, and individuals in cyberspace shall follow: If the data is considered necessary to be copied or restored or there is a request to copy and restore the data for the purpose of proving the commission of a crime, the assigned person shall be authorized to copy and restore such data and acquire a decision on approval of competent authority according to regulations of the law. In addition, to make a record for the copying and recovery activities of the electronic evidence, the case may be invited to an independent third party, witness and certification of this process.

The Director of the Department of Cyber Security and Hi-tech Crime Prevention of the Ministry of Public Security of Vietnam shall decide to take this measure.

Internal computer networks have the storage and transmission of state secrets must be completely separated from the network of computers and devices and electronic devices connected to the internet

The decree clearly specifies that state agencies and the political organization at central and local levels must develop regulations on the use, management and security of internal computer networks and computer networks connected to the Internet. agencies or organizations they manage. This is an activity to protect network security in state agencies, central and local political organizations.

Regulations on the use and assurance of computer network security by state agencies and political organizations at central and local levels must include the following basic contents: Identify major information and information network systems to be prioritized for cybersecurity assurance. Elaborate on prohibitions and principles of management and use and ensure cybersecurity and internal computer networks that store or transmit state confidentiality shall have a complete physical separation from computer networks, devices, and electronic means with Internet connection, other cases shall ensure compliance with regulations of laws on state confidentiality protection. Have procedures for professional and technical management in operating, using, and ensuring cybersecurity of data and technical infrastructure. Such procedures shall satisfy basic requirements for information system safety assurance. Ensure the personnel conditions for network management and operation and security of cyber information security, information safety and handling of violations of regulations on assurance of network security.

Thus, to ensure confidentiality of the internal data of the state agency, the internal computer network shall have the state secrets which are required to separate completely from the computer network or the equipment and electronic devices connected to the internet. This is the regulation for managing agencies to control, minimize the risk of internal data that is spread out into the electronic environment, causing serious impact on national security issues.

Will  data must be stored in Vietnam ?

The decree has stipulated a separate chapter to clarify the storage of data and set the branch or representative office of foreign enterprises in Vietnam.

The following data must be stored in Vietnam:

-Data on personal information of service users in Vietnam;

-Data created by service users in Vietnam: account names, service use time, information on credit cards, emails, IP addresses of the last login or logout session, and registered phone numbers in association with accounts or data;

-Data on relationships of service users in Vietnam: friends and groups such users have connected or interacted with.

Domestic enterprises and foreign enterprises are the subjects that must store the above data. In particular, it only applies to foreign enterprises doing business in Vietnam in one of the following fields:

Telecommunication services in Vietnam;

-Storage and sharing of data in cyberspace;

-Provision of national or international domain names for service users in Vietnam;

-E-commerce; Online payment in Vietnam;

-Payment intermediaries; Services of connection and transportation in cyberspace in Vietnam;

-Social media and social communication in Vietnam;

-Online video games in Vietnam;

Services of provision, management, or operation other information in cyberspace in forms of messages, calls, video calls, emails, online chatting in Vietnam.

However, not at all foreign enterprises is required to store data according to regulations. Decree 53/2022/ND-CP also sets conditions for the storage of data in Vietnam, specifically as follows: services provided by such foreign enterprises are used for violations of laws on cybersecurity, notified and requested for cooperation, prevention, investigation, and handling in writing by the Department of Cyber Security and Hi-tech Crime Prevention of the Ministry of Public Security of Vietnam but they fail to comply or incompletely comply with such documents or prevent, obstruct, disable, or nullify the effect of cybersecurity protection measures performed by cybersecurity protection forces;

In case of an exception to the conditions for force majeure circumstances, the foreign enterprise cannot comply with the requirements of the law on cyber security, the foreign enterprise shall notify the Cybersecurity Department and high-tech crime prevention and control under the Ministry of Public Security within 03 working days for inspection of the verification of such force majeure. In this case, the enterprise will have 30 days to adopt remedial methods.

For the form of data storage, Decree 53/2022/ND-CP does not provide any specific requirements, but allows businesses to decide for themselves how to store their data in Vietnam, whether domestic or foreign enterprises.

For the time duration for data storage: for domestic enterprises, it automatically stores data; for foreign enterprises starting when the enterprise receives the request to store data from the Minister of Public Security until the end of the request; Minimum storage period is 24 months.

The Decree stipulates more specifically and strictly on the order and procedures for applying measures to ensure network security as well as the rights and obligations of state agencies in data security, building a network security system management system to ensure internal network security at the agency. Companies operating in the internet business should take into consideration of the new regulations and ensure compliance. It is important to engage cybersecurity lawyers in Vietnam for legal advice and update.

Source ANTLawyers: https://antlawyers.vn/library/decree-53-2022-nd-cp-detailing-of-the-law-on-cybersecurity-2018.html


Thứ Tư, 21 tháng 9, 2022

Potential to attract investment when iPhone can be assembled in Vietnam

Potential to attract investment when iPhone can be assembled in Vietnam 

iPhone is the name of the smartphone line from Apple – a large American technology corporation. The iPhone is a high-end technology product and is used by many people around the world. Currently, Apple assembles the majority of iPhones in factories located in China, and components are manufactured in India, Thailand, the US and many other places. The setting up of iPhone manufacturing facilities in Vietnam will attract other investors to set up company in Vietnam.


Pegatron is one of three iPhone production partners for Apple that is under pressure to expand production outside of China. In addition, China’s application of Covid control measures has pushed the plan to expand production even more strongly. Accordingly, one of the expected locations to be selected is Vietnam.

Although in China the social distancing orders to control Covid-19 have been gradually removed, the labor shortage is still a serious problem. On the other hand, in the peak season, the demand for labor to increase production increases. Therefore, expanding production activities to other regions like Vietnam is a necessary solution to solve the labor shortage.

Besides, there are many different reasons for Pegatron to set up a factory in Vietnam. One of the reasons mentioned is that the stakeholders want to reduce the concentration of production in the current areas and limit the difficulty in recruiting personnel. Meanwhile, Vietnam has young and abundant human resources and production areas are planned and created more favorable conditions for foreign investors.

Moreover, Pegatron previously intended to expand the production line to Vietnam and Pegatron is building a factory in Hai Phong. In addition, many of Apple’s assembly partners also have factories in Vietnam, but no factories have yet assembled iPhones. Therefore, if iPhone is assembled in Vietnam, it will create a strong effect to attract foreign investors to invest in Vietnam and establish company in Vietnam. Accordingly, this will also be a great opportunity for the labor market in Vietnam and promote investment and development.

Currently, the Vietnamese market is gradually becoming an investment target of many large foreign investors. Therefore, besides the government’s open door policies, Vietnamese businesses and workers need to make more efforts to promote their capacity when participating in cooperation and working for large enterprises like Apple.

With highly professional staff and great experience in business, ANT Lawyers – Law firm in Vietnam would like to support you to establish company in Vietnam.

Benefits of Setting Up Company in Ho Chi Minh City

 

Ho Chi Minh City is considered as Vietnam’s economic hub. During the long history of foundation and development, the city’s economy is growing constantly and motivating the development of the country.


Setting up company in Vietnam

The city is therefore considered as a potential investment environment for domestic investors as well as foreign investors. The investment through establishing companies and conducting business activities in Ho Chi Minh city certainly promises to achieve multiple benefits. These benefits come from the following reasons.

First, Ho Chi Minh City has strategic location advantage in Vietnam. Southeast Asia Region, Ho Chi Minh City is 1,700 km south of Hanoi, 297 km east of Phnom Penh, Cambodia, 881 km east of Bangkok, Thailand.

Food, glass, textiles, paper products, plastics, chemicals, building materials and machinery are produced here. Ho Chi Minh City accounts for 20% of total gross domestic product (GDP), 30% of industrial production and 40% of export products of Vietnam. The city also accounts for 33% of the national budget and 60% of foreign investment flows into the region. In the past few years, the economy have been grown at a rate greater than 10% (6% to 8% nationally).

Second, Ho Chi Minh City is home of  well – qualified, abundant and young human resources.

With a population of more than 8 million, accounting for more than 10% of the total Vietnamese population, Ho Chi Minh City itself has potential employment market to make any business investment. The work force in Ho Chi Minh City was estimated to reach 4.7 million people in 2012, making up more than 50% of the total population of the city. The percentage of trained labor increased from 40% in 2005 to 55% in 2010 and was forecast to reach 70% in 2015. The percentage of labor source holding postgraduate degree is also increasing year by year and most of them tend to stay in the city after holding degrees. Ho Chi Minh City is also home to more than 80 universities and colleges, vocational schools with over 400,000 students providing an abundant trained work force.

With the above – mentioned abundant labor force, any companies set up in Ho Chi Minh City can easily recruit suitable employees in a short time..

Third, the city has modern and high infrastructure system. Namely, when setting up company in Vietnam, the owners will benefit from the modern and comprehensive infrastructure system.

Tan Son Nhat Airport is the largest airport in the country with the capacity to accommodate 20 million people a year. From Tan Son Nhat Airport, there are 50 routes to other countries all over the world such as China, Japan, Korea, Singapore, European countries, etc.

Saigon Port serves as a gateway to the Mekong River Delta, the South China Sea (83 km away from the sea) and the Asia continent. The port has a total area of 500,000 m2 with 5 terminals meeting the international standards, and it handles about 8.3 million tons of cargo annually. Throughout the history of foundation and development of Saigon, Saigon Port plays an important role in making Ho Chi Minh City a flourishing trading center. It accounts for a fifth of the nation’s Gross Domestic Product and almost a third of its industrial production.

Ho Chi Minh City is also home to industrial zones. According to the statistics of Cushman & Wakefield, the city has 18 industrial parks that are operating with a total area of 3635 ha. When investing in such industrial zones in Vietnam, enterprises can benefit from various incentive policies such as low rate tax or other incentive policies.

Telecommunication and information technology in the city is modern. The system of post and telecommunication in Ho Chi Minh meets international standard, providing fast, reliable and high quality services such as ADSL, rapid data transfer, wide broadband MAN. The Internet service in Ho Chi Minh city is also among the cheapest in the world.

Besides, the city is also considered the best working conditions. Enterprise will not be fear that it is not enough place for working. The city with the system of offices provide ideal working environment for all investors.

With highly professional staff and great experience in business in Vietnam, ANT Lawyers would like to support you in establish company in Vietnam.

 

Thứ Ba, 13 tháng 9, 2022

How Foreign Entity Could Set up a Branch Office in Vietnam

 How Foreign Entity Could Set up a Branch Office in Vietnam

A foreign business entity or a foreign trader is allowed to set up a branch office in Vietnam to conduct business activities.


How to Set up branch office in Vietnam?

Having the right to conduct business activities and make profit are how a branch differs fromrepresentative office in Vietnam. A branch depends on the foreign business entity that set-up the branch while a foreign owned company set-up in Vietnam exists by itself. The Vietnam Department of Industry and Trade will be approving the establishment of a branch office in Vietnam while Vietnam Ministry of Planning and Investment will be the State agency that coordinate the setting up a company in Vietnam.

In particular, the branch of a foreign business entity in Vietnam (referred to as the “Branch”) means a subsidiary unit of the foreign business entity, established in accordance with the law of Vietnam in order to enter into contracts in Vietnam and conduct activities being the purchase and sale of goods and other commercial activities consistent with its licence for establishment in accordance with the law of Vietnam and any international treaty to which the Socialist Republic of Vietnam is a member.

The Branch will need to apply and obtain the establishment license; and have a seal bearing the name of the branch.

1. Rights of the Branch

-To rent offices and to lease or purchase the equipment and facilities necessary for the operation of the branch.

-To recruit Vietnamese and foreign employees to work for the branch in accordance with the law of Vietnam.

-To enter into contracts in Vietnam in accordance with the activities stated in the license for establishment of such branch and in accordance with the Vietnam Law.

-To open Vietnamese dong and foreign currency accounts at banks which are licensed to operate in Vietnam.

-To remit profits abroad in accordance with the law of Vietnam.

-To have a seal bearing the name of the branch in accordance with the law of Vietnam.

-To conduct activities being the purchase and sale of goods and other commercial activities consistent with its license for establishment in accordance with the law of Vietnam and any international treaty to which the Socialist Republic of Vietnam is a member.

2. Requested Conditions for Establishment the Branch Office in Vietnam

A foreign company which has effectiveness business activities will be allowed to open the branch office in Vietnam if this company has real demand to open the market in Vietnam and meet some conditions as below:

-Being a trader recognized by the law of the country where it has been lawfully established or made its business registration;

-Having been operating for at least five years after its lawful establishment or business registration certificate in Vietnam.

3. Issuance the Certificate of Branch:

The issuance of the Certificate of Branch will be implemented by the Department of Industry and Trade Department after the foreign company meets all of conditions as Vietnam legal requirements.

The issuing period will be within 20 working-days after the date of submitting the full valid documents as requested.

With highly professional staff and great experience in investment in Vietnam, ANT Lawyers – English speaking law firm in Vietnam would like to support you to set up the branch office in Vietnam

Source ANTLawyers: https://antlawyers.vn/legal-service/establishment-of-the-foreign-traders-branch-in-vietnam.html

Thứ Tư, 7 tháng 9, 2022

English Speaking Law Firm in Hanoi

ANT Lawyers, the English speaking law firm in Hanoi is located in the business center that provides convenient access to our clients.


English speaking law firm in Hanoi

ANT Lawyers works with corporate and individual clients from across the sectors and offers a true spectrum of legal expertise, both contentious and non-contentious. The range of our experience enables us to advise on various matters from the precedent-setting to the purely procedural.

The common thread in everything we do is our ability to combine both commercial and legal perspectives. This means our clients can rest assured that, whatever the case or transaction, our lawyers have the experience to deliver legal advice and service that works in a commercial context.

Our English speaking lawyers at Hanoi office offer client with particular services that guide clients throughout investment, commercial transaction, M&A, civil transaction, property sales and purchase, IP registration, and dispute resolution procedures.

Please contact us to book your time in advanced to let us provide our best service.

Call our office at +84 24 730 86 529, or talk to our partner directly at +84 912 817 823, send us email ant@antlawyers.vn or visit our English speaking law firm in Hanoi office at 5th Floor, Leadvisors Place, 41A Ly Thai To, Hoan Kiem District, Hanoi.

Let ANT Lawyers help your business in Vietnam.

Source ANTLawyers: https://antlawyers.vn/about-us/our-offices/law-firms-in-hanoi