LEGAL UPDATE: Did you know that as of 1 September 2015, subject to certain conditions, the foreign ownership ratio in public companies (including listed companies) will no longer be subject to the 49% cap?August 14, 2015
This means that (except for certain cases discussed below) foreign individuals, foreign companies, Vietnamese companies in which foreign investors own more than 51% of the voting interest can invest in public listed or unlisted Vietnamese companies on an unrestricted basis without any cap on ownership.
This is set out in a decree (Decree 60) that the Government issued on 26 June of this...
LEGAL UPDATE: Did you know that the Ministry of Planning & Investment recently issued some guidelines to the licensing authorities in the cities and provinces regarding the implementation of the new 2014 Investment Law?August 6, 2015
The content of this guideline is a bit complicated and below is a 'simplified' explanation. This guideline is most relevant for those investors seeking to amend their licences and are caught between the old and new laws.
Official Correspondence 5122/BKDHT-PC was issued on 24 July 2015 and provides the following guidelines:
1. With respect to investment applications submitted before...
LEGAL UPDATE: Did you know that the US and Vietnam signed a Double Taxation Treaty (Treaty) on 7 July 2015 covering personal income tax and corporate income tax?July 24, 2015
The Treaty is the first comprehensive income tax treaty between the US and Vietnam. The Treaty also contains a provision on information exchange and administrative assistance. This allows both countries to exchange information on taxpayers.
The Treaty, however, will not take effect until after ratification by both jurisdictions.
On the US side, the US Senate has not ratified such a...
Good news!! Lawyers in Vietnam may be out of a job soon (at least for routine licensing matters).
The Government has just launched an online guide for investors on how to set up a business on Vietnam in 7 provinces including Hanoi and HCMC.
The online e-service provides a step-by-step guideline on where to go to submit documents; whom to meet; which documents to submit; fees...