The first is the decree guiding the law of real estate business (Decree No. 76/2015/ND-CP dated 10 September 2015). Some of the key guidelines include:
- confirmation that (except for a few exceptions) the minimum capital to set up a real estate business is 20 billion VND (approximately US 1 million).
- issuance of model contracts for key real estate transactions (for parties to...
LEGAL UPDATE: Did you know that foreign investors may now purchase non-performing/bad loans (NPLs) from Vietnam Asset Management Company (VAMC) under a new circular issued by the State Bank of Vietnam (SBV) just last week which will become valid on 15 OctSeptember 3, 2015
1. What is VAMC?
VAMC is a 100% State-owned company, established by the SBV in July 2013.
VAMC's role is to take NPLs off the balance sheets of banks and in exchange the banks will receive special interest-free VAMC bonds with tenors of up to 5 years with a face value equal to the book value of the NPLs. These bonds, although interest-free, can be placed temporarily with the SBV...
LEGAL UPDATE: Did you know that the Vietnamese Government has recently issued a resolution setting out deadlines requiring the relevant ministries to issue guidelines to facilitate the implementation of the new Enterprise Law and Investment Law?September 1, 2015
Although both of these key pieces of legislation became valid on 1 July of this year, actual implementation has been delayed, as the guiding laws have not yet been issued.
The Government resolution sets out clear deadlines (discussed below) for when such guidelines should be issued with a view to assist investors in setting up and carrying out their business.
Here are some of the...
LEGAL UPDATE: Did you know that the Ministry of Finance just issued a circular to guide foreign investment in Vietnam's securities market?August 25, 2015
The circular will become valid on 1 October of this year.
You will recall our last update on the removal of the foreign ownership cap on public companies (listed or unlisted). This circular provides guidance on how this is to be carried out.
The circular governs all investments by foreign investors in Vietnam's securities market (including investments in securities company and...
Congratulate Hamon on winning Best Luxury Condo Development award and Novaland Group on winning Best Developer award in the ceremony of Vietnam Property Awards 2015August 20, 2015
How awesome that two of our favourite clients were big winners last week: Best Developer and Best Luxury Condo Development (HCMC) and Best Condo Development. So privileged to be working with the best on all aspects of their projects from development to financing. Congrats.