important documents regulating bank guarantee

Important documents regulating bank guarantee

On 25 June 2015, the State Bank of Vietnam issued Circular No. 07/2015/TT-NHNN on bank guarantee which is considered as one of the most important documents regulating bank guarantee applied to domestic credit organizations, branches of foreign banks for foreign customers. The Circular is to replace the previous one, namely Circular No. 28/2012/TT-NHNN on 03 October 2012 issued by the State Bank of Vietnam on bank guarantee.
eyeing the pitfalls of arbitral awards

Eyeing the pitfalls of arbitral awards

Most legal jurisdictions recognise that employees within a company can sign a contract within the scope of their employment to bind the company to perform.
stricter rules and centralised regulator for multi level sales

Stricter rules and centralised regulator for multi-level sales

On May 14, the government issued Decree 42/2014/ND-CP regulating multi-level sales activities. Decree 42 took effect on July 1, 2014 and replaced Decree 110/2005/ND-CP. To detail certain provisions of Decree 42/2014/ND-CP, on July 30 the Ministry of Industry and Trade issued Circular 24/2014/TT-BCT, which will come into effect from September 15.
key considerations for the revised draft bankruptcy law

Key considerations for the revised draft bankruptcy law

As investor interest in Vietnam continues to grow amidst the government’s liberalisation of the country’s market, it has become crucial that its commercial laws have their bundles of red tape slashed, including procedures concerning insolvency and bankruptcy.
customs rapped over vague tax bills for fdi firms

Customs rapped over vague tax bills for FDI firms

Since early 2013, the General Department of Taxation has been inspecting foreign invested enterprises operating in Vietnam, especially processing and manufacturing enterprises operating in industrial zones. After each inspection, a majority of enterprises were told they owed outstanding tax arrears. The amount of tax imposed on each enterprise has reached up to hundreds of billions of Vietnam dong.
voting and attendance ratios under resolution

Voting and Attendance Ratios under Resolution

December does not simply signify the arrival of the Holiday season – it is also the time when companies inevitably begin to prepare for their annual meetings.
new rules on remittances of profits overseas

New rules on remittances of profits overseas

Regulations restricting remittances of profit overseas are of considerable concern to foreign investors. Which makes it surprising that no new regulations have been issued to govern this topic since the approval of the Law on Investment back in 2005 – leading to a situation of "new law, old guidance".
what is the solution for ma procedures of foreign investors in domestic companies

What is the solution for M&A procedures of foreign investors in domestic companies?

The Government has recently finalised its long-anticipated considerations to amending Decree No. 108/2006/ND-CP which was promulgated almost six years ago in September 2006 in a bid to further clarify provisions under the Law on Investment. Most of these amendments have already been submitted to the Government by the Ministry of Planning and Investment (“MPI”), with only three unconfirmed matters remaining, awaiting the scrutiny of the Government.
insuring the insurance market gets in order

Insuring the insurance market gets in order

On February 15, 2012, new regulations on insurance sector business activities came into effect under Decree No.123/2011/ND-CP (“Decree 123”) detailing the Law on Amendments to the Law on Insurance Business being effective from July 2011.
foreign distributors face hurdles

Foreign distributors face hurdles

On January 1, 2009, the restrictions on foreign investment in retail distribution were lifted pursuant to Viet Nam's commitments to the World Trade Organization. In reality, however, there remain a number of obstacles to foreigners seeking to invest in this sector.
intellectual property law in vietnam

Intellectual Property Law in Vietnam

Derived from the renowned multi-volume International Encyclopaedia of Laws, this monograph provides a survey and analysis of the rules concerning intellectual property rights in Vietnam.  
corporations and partnerships in vietnam

Corporations and Partnerships in Vietnam

Derived from the renowned multi-volume International Encyclopaedia of Laws, this practical analysis of the law of business formations in Vietnam provides quick and easy guidance on a variety of corporate and partnership considerations such as mergers, rights and duties of interested parties, stock exchange rules, labour laws, and takeovers.
vietnam structuring an appropriate transfer pricing policy

Vietnam Structuring an Appropriate Transfer Pricing Policy

Compared to other countries, the Vietnamese tax authorities do not have extensive experience on dealing with transfer pricing.