What Are Required Documents to Set up Limited Liability Company in Vietnam?

  When doing business in Vietnam, the business people find benefits to set up company as a separate legal entity for various purposes i.e. to have an entity to sign contract, open bank account, hire personnel and pay them properly, and to deduct expenses for tax optimization. The most popular form is to set up limited liability company in Vietnam (LLC).

Dossiers to Set up Limited Liability Company in Vietnam

-Application for business registration according to a uniform form prescribed by the competent business registration agency.

-Draft of Company’s charter

-List of members and accompanying documents below:

• For individual members: copy of ID card, passport or other legal personal identification
• For members that are organizations: copy of the Establishment Decision, Business Registration Certificate or other equivalent documents of the organization; Authorization document, ID card, passport or other legal personal identification of the authorized representative.
• For members that are foreign organizations, a copy of the Business Registration Certificate must be authenticated by the agency where the organization was registered no more than three months before the date of submitting the business registration application.

-Document certifying legal capital from a competent agency or organization for companies conducting business in industries and professions that according to the law must have legal capital.

-Practicing certificate of the Director or General Director and other individuals for companies conducting business in lines and professions that, according to the law, must have a practicing certificate.

Procedures to Set up Limited Liability Company in Vietnam

1. The business founders submit a complete business registration application according to the provisions of law at the competent business registration agency and must be responsible for the truthfulness and accuracy of the content of the business registration application.

2. The business registration agency is responsible for reviewing business registration documents.

3. If the application is complete, a business registration certificate will be issued within 10 working days from the date of receipt. If the authority refuses to issue a Business Registration Certificate, it must notify the applicants in writing. The refusal notice must clearly state the reason for refusal and points that need to be amended and supplemented.

The business registration agency reviews and is responsible for the validity of the documents when issuing the Business Registration Certificate; The founder may not be required to submit additional documents not prescribed by this law.

The deadline for granting a Business Registration Certificate associated with a specific investment project shall comply with the provisions of law.

How Lawyers in Vietnam Could Help Business People to Set up Limited Liability Company in Vietnam? In the company’s internal regulations.

Setting up a limited liability company (LLC) in Vietnam is a pivotal step for entrepreneurs seeking to establish a robust legal presence in the country’s dynamic business landscape. While the process might seem straightforward, engaging experienced lawyers in Vietnam brings significant value, ensuring a seamless and legally compliant establishment. Here’s a detailed exploration of the value-added services that lawyers provide in assisting business people to set up limited liability company in Vietnam.

1. Expertise in Vietnamese Legal Landscape

Vietnam lawyers possess in-depth knowledge of Vietnam’s legal framework, ensuring that the establishment process adheres to the latest laws and regulations. Navigating the intricacies of Vietnamese corporate law can be challenging for those unfamiliar with the local legal landscape. Lawyers provide clarity and guide entrepreneurs through the legal requirements, minimizing risks associated with regulatory non-compliance.

2. Tailored Legal Advice

Every business is unique, and Vietnam lawyers understand the importance of providing tailored legal advice. They assess the specific needs and objectives of the business, offering guidance on the most suitable corporate structure, drafting the company’s charter, and ensuring that the legal framework aligns with the business’s long-term goals.

3. Document Drafting and Review

The process set up limited liability company in Vietnam involves drafting essential documents such as the company’s charter. Vietnam lawyers play a crucial role in meticulously drafting and reviewing these documents to ensure they are legally sound and align with the client’s intentions. Thorough document preparation contributes to the smooth registration process and establishes a solid legal foundation for the company.

4. Compliance Assurance

Compliance with local regulations is paramount to the success of any business. Vietnam lawyers actively engage in ensuring that all legal requirements for business registration are met, from submitting the correct application forms to validating the legal capital requirement. Their expertise in compliance matters safeguards the business from potential legal issues and penalties.

5. Handling Business Registration Application

Vietnam lawyers take charge of preparing and submitting the business registration application, a critical step in the process to set up limited liability company in Vietnam. They navigate the bureaucracy efficiently, ensuring that the application is complete and accurate. This proactive approach accelerates the registration process and minimizes delays.

6. Resolving Legal Hurdles

Unexpected legal challenges can arise during the registration process to set up limited liability company in Vietnam. Vietnam lawyers are equipped to address and resolve these hurdles, be it discrepancies in documentation or unforeseen legal requirements. Their ability to navigate legal obstacles contributes to a more efficient and stress-free registration experience for the business owner.

7. Risk Mitigation

Vietnam lawyers are adept at identifying potential risks associated with the process set up limited liability company in Vietnam. Through thorough legal analysis, they assess and mitigate risks, providing proactive solutions to potential legal challenges that may arise during or after the registration process. This risk management approach protects the business’s interests and enhances its resilience in the market.

8. Continuous Legal Support

Beyond the initial registration, Vietnam lawyers provide ongoing legal support after the process to set up limited liability company in Vietnam. This includes addressing any legal queries, assisting with compliance matters, and advising on legal aspects of business operations. Continuous legal support ensures that the company remains in compliance with evolving legal requirements.

In conclusion, the value that Vietnam lawyers bring to the table when helping business people set up limited liability company in Vietnam extends far beyond the basic legal requirements. Their expertise, tailored advice, meticulous document handling, and commitment to compliance and risk mitigation collectively contribute to a seamless and legally sound establishment process. Engaging legal professionals ensures that entrepreneurs can focus on growing their business while having confidence in the legal foundation supporting their endeavors in the Vietnamese market starting with the process to set up limited liability company in Vietnam.

About ANT Lawyers, a law firm in Vietnam

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers has lawyers in Ho Chi Minh city, Hanoi,  and Danang, and will help customers in doing business in Vietnam.

Source: https://antlawyers.vn/update/set-up-limited-liability-company-in-vietnam.html

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8 Ethical Considerations in Advocacy: Trial Lawyers in Vietnam Navigating Challenges in Vietnam

  Trial lawyers in Vietnam play a pivotal role in upholding justice, representing clients, and navigating the complexities of the legal system.

In this article, we delve into the ethical dilemmas and considerations faced by trial lawyers in Vietnam, exploring how they navigate these challenges to maintain professional integrity and uphold the rule of law.

Ethical Foundations of Trial Advocacy in Vietnam

Trial lawyers in Vietnam operate within a legal landscape shaped by cultural, historical, and legislative influences. Ethical considerations are at the core of their profession, guiding their conduct in and out of the courtroom. As agents of justice, trial lawyers in Vietnam are tasked with the responsibility of ensuring fair representation, upholding the rights of their clients, and contributing to the broader goals of the legal system.

The Balancing Act: Client Advocacy vs. Ethical Boundaries

One of the primary ethical dilemmas faced by trial lawyers in Vietnam involves striking a balance between zealous client advocacy and adherence to ethical boundaries. While dedicated representation is essential, lawyers must navigate the fine line between advancing their clients’ interests and ensuring ethical standards are not compromised.

In the pursuit of justice, trial lawyers in Vietnam may grapple with ethical challenges such as presenting misleading evidence, suppressing unfavorable information, or engaging in aggressive tactics that could undermine the integrity of the legal process. The pressure to win cases and secure favorable outcomes can test the ethical compass of trial lawyers in Vietnam.

Trial Lawyers in Vietnam Maintaining Professional Integrity in the Face of External Pressures

External pressures, whether from clients, peers, or societal expectations, can pose significant ethical challenges for trial lawyers in Vietnam. The desire to secure a positive outcome for a client may clash with ethical standards, particularly when faced with requests to bend or break the rules. Lawyers may confront dilemmas related to disclosing unfavorable evidence, dealing with uncooperative clients, or managing conflicts of interest.

The legal profession in Vietnam, like elsewhere, places a high premium on professional integrity. Trial lawyers in Vietnam are expected to uphold the principles of honesty, transparency, and fairness. Navigating external pressures while adhering to these principles requires a delicate balance and a commitment to ethical conduct.

Upholding the Rule of Law: Navigating Cultural and Legal Nuances

Vietnam’s legal system operates within a unique cultural context, and trial lawyers must navigate ethical considerations while respecting cultural nuances. The tension between traditional values and modern legal principles can manifest in various ways, impacting how lawyers approach issues such as confidentiality, attorney-client privilege, and the duty of candor.

Ensuring that legal proceedings adhere to the rule of law while respecting cultural sensitivities is a delicate task for trial lawyers. Striking the right balance requires a nuanced understanding of both legal principles and the cultural fabric in which they operate.

Transparency and Accountability: Ethical Imperatives in Legal Practice

Transparency and accountability are cornerstones of ethical legal practice for trial lawyers in Vietnam. These principles extend beyond the courtroom and encompass interactions with clients, opposing counsel, and the judiciary. Maintaining open communication, providing honest assessments of legal matters, and avoiding conflicts of interest contribute to the ethical foundation of trial advocacy.

In Vietnam, as in many jurisdictions, the legal profession places a premium on self-regulation. Trial lawyers in Vietnam are expected to adhere to codes of conduct, ethical guidelines, and professional standards set by legal associations. This self-regulatory framework reinforces the commitment to ethical practice and ensures accountability within the legal community.

Ethical Challenges in the Age of Technology

The rapid advancement of technology poses additional ethical challenges for trial lawyers in Vietnam. Issues related to the handling of electronic evidence, and maintaining client confidentiality in a digital age demand a proactive approach to ethical considerations.

Cybersecurity concerns, data privacy regulations, and the ethical implications of emerging technologies require trial lawyers in Vietnam to stay abreast of evolving legal landscapes. Balancing technological advancements with ethical responsibilities is an ongoing challenge that shapes the ethical considerations in the practice of trial law in Vietnam.

The Role of Legal Education and Professional Development

Addressing ethical challenges in trial advocacy necessitates a strong foundation in legal education and ongoing professional development. Law schools and legal training programs in Vietnam play a vital role in instilling ethical principles in future trial lawyers. Emphasizing the importance of ethical considerations, imparting critical thinking skills, and fostering a commitment to justice contribute to the ethical fabric of the legal profession.

Professional development initiatives, including ethics training and continuing legal education, provide practicing trial lawyers with the tools and knowledge to navigate contemporary ethical challenges. Staying informed about evolving ethical standards and engaging in discussions about ethical considerations within the legal community foster a culture of ethical awareness and responsibility.

Striving for Ethical Excellence in Trial Advocacy

Trial lawyers in Vietnam face a myriad of ethical dilemmas in their pursuit of justice. From balancing zealous client advocacy with ethical boundaries to navigating cultural nuances and technological advancements, the ethical considerations are complex and multifaceted. Upholding professional integrity, transparency, and accountability are essential in ensuring that trial lawyers contribute positively to the rule of law and maintain the public’s trust in the legal system. As Vietnam’s legal landscape continues to evolve, trial lawyers must remain vigilant in addressing ethical challenges, fostering a legal culture that prioritizes ethical excellence in trial advocacy.

ANT Lawyers, law firm in Vietnam

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers has lawyers in Ho Chi Minh city, Hanoi,  and Danang, and will help customers in doing business in Vietnam.

Source: https://antlawyers.vn/update/trial-lawyers-in-vietnam-challenges.html

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Ensuring Compliance in Corporate Governance: The Vital Role of Legal Counsel in Vietnam

   

Legal counsel in Vietnam, solving legal problems for businesses

Corporate governance and compliance go hand in hand, forming the bedrock of a sustainable and ethical business environment. In the context of Vietnam’s dynamic economic landscape, the significance of robust compliance mechanisms cannot be overstated. Legal counsel in Vietnam plays a pivotal role in guiding businesses through the intricacies of regulatory frameworks, fostering adherence to laws, and promoting a culture of integrity within corporate governance

The Compliance Landscape in Vietnam

Vietnam has witnessed significant economic growth, attracting both domestic and foreign investment. As the business environment expands, so does the need for effective compliance practices. The Vietnamese government has been proactive in updating and strengthening regulations to align with international standards, creating a framework that encourages responsible business conduct.

Compliance in corporate governance encompasses a wide range of areas, including financial reporting, anti-corruption measures, data protection, and environmental sustainability. Legal counsel in Vietnam is instrumental in helping businesses navigate these complex regulatory landscapes, ensuring that they not only meet the minimum legal requirements but also adopt best practices to enhance their overall governance.

Legal Counsel’s Role in Ensuring Compliance

1. Understanding Regulatory Frameworks:
Legal counsel in Vietnam play a central role in interpreting and understanding the ever-evolving regulatory frameworks. They keep abreast of changes in laws and regulations relevant to corporate governance, ensuring that businesses are well-informed and proactive in adapting to new requirements.

2. Risk Assessment and Mitigation:
Compliance inherently involves risk management. Legal counsel in Vietnam conducts thorough risk assessments to identify potential areas of non-compliance. Subsequently, they develop and implement strategies to mitigate these risks, safeguarding the business from legal consequences and reputational damage.

3. Policy Development and Implementation:
Crafting comprehensive compliance policies is a collaborative effort between legal counsel and corporate leadership. Legal counsel in Vietnam assists in developing policies that address specific compliance requirements, establishing clear guidelines for employees and management to follow.

4. Training and Education:
Legal counsel in Vietnam takes on an educational role within the organization, conducting training sessions to ensure that employees are aware of and understand compliance requirements. This proactive approach helps create a culture of compliance from within, reducing the likelihood of unintentional violations.

5. Monitoring and Auditing:
Continuous monitoring of compliance efforts is essential. Legal counsel in Vietnam sets up monitoring mechanisms and conducts regular audits to assess the effectiveness of existing compliance programs. This iterative process allows for adjustments and improvements as the regulatory landscape evolves.

6. Reporting and Transparency:
Legal counsel in Vietnam assists businesses in developing transparent reporting mechanisms. They ensure that relevant stakeholders, including shareholders and regulatory authorities, receive accurate and timely information regarding the company’s compliance efforts. This transparency builds trust and credibility.

7. Anti-Corruption Measures:
Combatting corruption is a crucial aspect of compliance. Legal counsel in Vietnam advises businesses on implementing effective anti-corruption measures, including the development of codes of conduct, whistleblower protection programs, and due diligence processes.

8. Data Protection and Privacy:
With the increasing importance of data in modern business operations, legal counsel in Vietnam guides businesses in complying with data protection and privacy laws. This involves implementing measures to secure sensitive information and ensuring compliance with relevant data protection regulations.

Challenges in Achieving Compliance in Vietnam

Despite the strides made in strengthening regulatory frameworks, challenges in achieving and maintaining compliance persist in Vietnam.

1. Complexity of Regulations:
The complexity and rapid evolution of regulations can be daunting for businesses. Legal counsel in Vietnam helps businesses navigate this complexity, translating legal requirements into practical strategies for compliance.

2. Cultural and Language Barriers:
Vietnam’s unique cultural and linguistic nuances can pose challenges for businesses, especially those unfamiliar with the local context. Legal counsel in Vietnam bridge these gaps, facilitating communication and understanding between businesses and regulatory authorities.

3. Resource Constraints:
Smaller businesses may face resource constraints when it comes to establishing robust compliance programs. Legal counsel in Vietnam assists in developing scalable and resource-efficient compliance solutions tailored to the specific needs of each business.

Future Directions: Enhancing Compliance in Corporate Governance

To further enhance compliance in corporate governance in Vietnam, legal counsel in Vietnam can take several proactive steps:

1. Advocacy for Regulatory Clarity:
Legal professionals can advocate for clearer and more consistent regulations. This includes engaging with regulatory bodies to provide feedback on existing regulations and participating in the development of new ones.

2. Technology Integration:
Embrace technological solutions to streamline compliance processes. Legal counsel can recommend and implement governance and compliance software that automates routine tasks, enabling businesses to focus on strategic aspects of compliance.

3. Collaboration and Information Sharing:
Legal counsel can facilitate collaboration among businesses, industry associations, and regulatory authorities. Information sharing on best practices and common challenges can contribute to a more robust compliance ecosystem.

4. Continuous Education:
The landscape of corporate governance and compliance is dynamic. Legal counsel should engage in continuous education to stay abreast of emerging trends, allowing them to provide timely and relevant advice to businesses.

In conclusion, compliance in corporate governance is a cornerstone of a well-functioning and ethical business environment in Vietnam. Legal counsel in Vietnam serves as a guide, helping businesses navigate the regulatory landscape, mitigate risks, and build a strong foundation for sustainable growth. As Vietnam continues to position itself as an attractive destination for investment, a commitment to compliance is not just a legal requirement but a strategic imperative for businesses aiming for long-term success.

ANT Lawyers, law firm in Vietnam

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers has lawyers in Ho Chi Minh city, Hanoi,  and Danang, and will help customers in doing business in Vietnam.

Source: https://antlawyers.vn/update/the-role-of-legal-counsel-in-vietnam.html

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Protecting Your Business: The Role of Dispute Solicitors in Vietnam

  In the dynamic business landscape of Vietnam, commercial disputes are an inevitable reality. Whether they stem from contractual disagreements, partnership disputes, or issues related to business transactions, these conflicts can pose significant challenges to the smooth operation of a company. In such situations, the expertise of dispute solicitors in Vietnam becomes invaluable, playing a crucial role in safeguarding the interests and reputation of businesses. This article explores the landscape of commercial disputes in Vietnam and sheds light on how dispute solicitors contribute to protecting businesses in the face of legal challenges.

Understanding Commercial Disputes in Vietnam

Commercial disputes encompass a wide range of conflicts that arise in the business realm. Common scenarios include breach of contract, disagreements over business transactions, partnership disputes, intellectual property conflicts, and issues related to regulatory compliance. In Vietnam’s rapidly growing economy, businesses often find themselves navigating complex legal landscapes, making it essential to have a proactive approach to dispute resolution.

The Role of Dispute Solicitors:

1. Legal Expertise:
Dispute solicitors in Vietnam bring a wealth of legal knowledge to the table. They are well-versed in the intricacies of commercial law in Vietnam, including contract law, business regulations, and dispute resolution mechanisms. This expertise allows them to provide businesses with comprehensive and strategic legal advice.

2. Risk Mitigation:
One of the primary roles of dispute solicitors in Vietnam is to identify potential risks and liabilities associated with commercial disputes. They conduct thorough assessments to understand the legal implications of a dispute, enabling businesses to make informed decisions that mitigate risks and protect their interests.

3. Negotiation and Mediation:
Dispute solicitors in Vietnam often aim to resolve conflicts through negotiation and mediation before resorting to formal litigation. Skilled in alternative dispute resolution methods, they work towards reaching mutually beneficial settlements, saving businesses time and resources.

4. Contractual Guidance:
Many commercial disputes arise from contractual misunderstandings. Dispute solicitors in Vietnam play a proactive role in reviewing and drafting contracts, ensuring that they are clear, comprehensive, and legally sound. This preventative approach helps minimize the likelihood of disputes in the first place.

5. Litigation Advocacy:
When negotiations fail, dispute solicitors in Vietnam are prepared to advocate for their clients in court. They navigate the complexities of the legal system, presenting a compelling case on behalf of the business. This includes preparing legal documents, presenting evidence, and arguing persuasively in court.

6. Enforcement of Judgments:
Winning a legal dispute is only half the battle. Dispute solicitors in Vietnam also assist businesses in enforcing court judgments, ensuring that the agreed-upon resolutions are implemented. This involves navigating post-judgment processes and, if necessary, engaging with enforcement authorities.

7. Adaptation to Local Legal Dynamics:
Vietnam’s legal landscape is unique, and understanding local dynamics is crucial for effective dispute resolution. Dispute solicitors in Vietnam with local expertise are well-equipped to navigate the nuances of Vietnamese law, procedural requirements, and cultural considerations that may impact the resolution process.

Challenges in Commercial Dispute Resolution in Vietnam:

While the legal system in Vietnam is continually evolving, certain challenges persist in the realm of commercial dispute resolution.

1. Complexity and Length of Proceedings:
Legal proceedings can be intricate and time-consuming. Dispute solicitors in Vietnam must guide businesses through the complexities of the legal process while managing expectations regarding the duration of proceedings.

2. Language Barriers:
For international businesses operating in Vietnam, language barriers can pose challenges in effective communication. Dispute solicitors in Vietnam bridge these gaps, ensuring clear communication and understanding between all parties involved.

3. Cultural Sensitivity:
Cultural nuances can impact the dynamics of negotiations and legal proceedings. Dispute solicitors in Vietnam with an understanding of Vietnamese culture can navigate these sensitivities, fostering effective communication and resolution.

How Dispute Solicitors in Vietnam Protect Your Business in Vietnam?

1. Early Intervention:
Dispute solicitors advocate for early intervention in potential disputes. By addressing issues at the initial stages, they can often prevent conflicts from escalating, saving businesses time, resources, and potential damage to their reputation.

2. Tailored Strategies:
Recognizing that each commercial dispute is unique, dispute solicitors develop tailored strategies based on the specific circumstances of the case. This approach allows for a nuanced and effective resolution that aligns with the business’s objectives.

3. Preserving Relationships:
In many commercial disputes, preserving ongoing business relationships is crucial. Dispute solicitors work to find solutions that not only protect their client’s interests but also maintain positive relationships with other parties involved.

4. Transparent Communication:
Clear and transparent communication is a hallmark of effective dispute resolution. Dispute solicitors facilitate communication between parties, ensuring that all stakeholders are informed and engaged throughout the process.

5. Cost-Effective Solutions:
Dispute solicitors strive to provide cost-effective solutions. This includes exploring alternative dispute resolution methods, such as mediation and arbitration, which can be more time and cost-efficient than traditional litigation.

6. Compliance with Regulatory Requirements:
Ensuring compliance with Vietnamese regulatory requirements is essential. Dispute solicitors guide businesses in adhering to local laws and regulations, helping them avoid additional legal complications.

Looking Ahead: Improving Commercial Dispute Resolution in Vietnam

Enhancing the landscape of commercial dispute resolution in Vietnam requires collaborative efforts from legal professionals, businesses, and regulatory bodies. Here are some potential directions for improvement:

1. Mediation and Alternative Dispute Resolution (ADR) Promotion:
Encouraging the use of mediation and ADR mechanisms can expedite dispute resolution and reduce the burden on the court system. Legal counsel, including dispute solicitors in Vietnam, can actively promote and participate in these alternative methods.

2. Continuous Legal Education:
Continuous education for legal professionals ensures they stay updated on the latest legal developments, allowing them to provide the most relevant and effective advice to businesses.

3. Industry-Specific Expertise:
Developing industry-specific expertise within the legal community can enhance the understanding of unique challenges and dynamics in different business sectors, contributing to more effective dispute resolution.

4. Technological Integration:
Embracing technology can streamline dispute resolution processes. The use of digital platforms for case management, document sharing, and communication can improve efficiency and reduce administrative burdens.

Conclusion: Safeguarding Business Interests with Dispute Solicitors in Vietnam

In conclusion, the role of dispute solicitors in protecting businesses in Vietnam is multifaceted. From proactive risk management to skillful negotiation and, if necessary, litigation advocacy, dispute solicitors serve as guardians of their clients’ interests in the face of commercial disputes. As Vietnam continues to be a hub for economic activity and investment, businesses can navigate the complexities of the legal landscape with confidence, knowing that experienced dispute solicitors are ready to safeguard their interests and contribute to a fair and efficient resolution of disputes.

ANT Lawyers, law firm in Vietnam

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers has lawyers in Ho Chi Minh city, Hanoi,  and Danang, and will help customers in doing business in Vietnam.

Source: https://antlawyers.vn/update/dispute-solicitors-in-vietnam.html

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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.

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.

In the meantime, our dispute lawyers in Hanoi with fluent English also support clients in dispute resolution procedures, including pre-litigation, litigation process at courts at all levels; or alternative dispute resolution including mediation, arbitration at arbitration centers.  

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

Visit us at:

Hanoi Office: 5th Floor, Leadvisors Place Building, 41A Ly Thai To Str., Hoan Kiem Dist., Tel: (+84) 24 730 86 529

Ha Dong District Office: 5th Floor, HM01A-2, Hoang Thanh Villa Area, Mulberry Lane, Mo Lao Ward, Ha Dong District, Hanoi City., Tel: (+84) 24 730 86 529

Let ANT Lawyers help your business in Vietnam.

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

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What Foreign Investors Should Know When Setting up company in Vietnam in 2022?

  In the period of global economic integration, especially Post-Covid-19 era,  Vietnam – a developing country is considered one of the countries with potential markets that foreign investors choose to establish the business here taking advantage of the government policy to promote the economy i.e. “new normal” adaption living with Covid-19, quick opening of border allowing tourists to visit Vietnam since Apr 2022,  tax reduction, public investment increase…

Whom can set up business in Vietnam?

First, the objects allowed to establish and manage enterprises in Vietnam are all organizations and individuals who are not in the following cases: (i) Minors; people with limited legal capacity; incapacitated people; people having difficulties controlling their behaviors; organizations that are not juridical persons; (ii) People who are facing criminal prosecution, kept in temporary detention, serving an imprisonment sentence, serving an administrative penalty in a correctional institution or rehabilitation center, has limited legal capacity or is incapacitated, is not able to control his/her own behaviors, is banned by the court from holding certain positions or doing certain works; other cases prescribed by the Law on Bankruptcy and the Anti-corruption Law. At the same time, individuals with foreign nationality implementing business investment activities in Vietnam are considered foreign investors. The implementation of investment forms; the scope of operation as well as related procedures must meet the conditions under the Investment Law; related legal documents; other conditions of international treaties that Vietnam is a member.

How to invest and set up business in Vietnam?

Second, foreigners, foreign investors must explore legal forms of investment in Vietnam including: (i) Investing in establishing economic organizations; (ii) Invest in capital contribution, share purchase and purchase capital; (iii) Implementing investment project; (iv) Investment in the form of BCC contract; (v) Forms of investment and new economic organizations according to the Government’s regulations. They need to consider projects planning to invest in Vietnam in case of requesting approval of investment policy of 2020 Investment Law. The investment project of foreign investors is required to carry out procedures for granting investment registration certificates. If the case must be proposed to approve the investment policy, they must prepare dossiers and carry out procedures to request approval of investment policies. When completing the procedure, they will be granted a written decision on investment policy and investment registration certificates. If not falling in the case of approval of investment policy, foreign investors conduct procedures for applying for investment registration certificates.

What documents required to set up company in Vietnam?

Third, after being granted a certificate of foreign investment registration, foreign investors shall continue the procedures for enterprise registration. Vietnam laws do not have to limit the type of enterprise to foreign investors, hence investors can choose: One member limited liability Company; Two-member limited liability companies or more; Joint stock company; Partnerships. Each type of business has different advantages and disadvantages, and foreign investors should base on the purpose and investment scale to choose the type of suitable form of investment. In addition, the investment under the conditional business lines need to fully meet the conditions according to the provisions of law. Depending on the type of business, there will be the document requirements that need to register accordingly. And most importantly, foreign investors must prepare necessary conditions and sufficient conditions (validated documents for use in Vietnam, business name, head office address, business line, charter capital, legal representative,…) attached to the understanding and implementation of the order and procedures when they want to establish a certain type of enterprise in accordance with the Enterprise Law 2020.

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers have Attorneys in Hanoi, Attorneys in Ho Chi Minh and Attorneys in Danang. 

Source: https://antlawyers.vn/library/what-foreign-investors-should-know-when-setting-up-company-in-vietnam-in-2022.html

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How to Invest, Do Business and Reside in Vietnam in 2022?

  With economic opening policies, especially after the Covid-19 pandemic, Vietnam is an attractive destination for foreign investors. Accordingly, the number of foreign investors in Vietnam is constantly increasing. In order to create favorable conditions for individual investors with direct capital investment or representatives of foreign organizations investing in Vietnam to live, work, Vietnam has policies, suitable for each type of investor in being granted temporary residence cards in Vietnam.

Investors using visas, temporary residence cards under the investment category sponsored  by foreign investment companies and with the temporary residence card symbol DT, are divided into three types of temporary residence cards as follows: (i) DT1 – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam with a contributed capital of VND 100 billion (USD 4.5 mil) or more or investing in industries, professions eligible for investment incentives, geographical areas with investment incentives decided by the Government; (ii) DT2 – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam with a contributed capital of between VND 50 billion (USD 2.3 mil) and under VND 100 billion or investing in industries, trades to encourage development investment decided by the Government; (iii) DT3 – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam with capital contribution from VND 03 billion (USD 136k) to less than VND 50 billion. Temporary residence cards with a specific term for investors and representatives of foreign organizations investing in Vietnam are as follows: Temporary residence cards with symbol DT1 have a term of not more than 10 years; Temporary residence card with symbol DT2 is valid for no more than 05 years; Temporary residence card with symbol DT3 is valid for no more than 03 years. In case foreign investors and representatives of foreign organizations investing in Vietnam with a contributed capital of less than VND 03 billion, they will not be granted a temporary residence card, instead they will apply for a signed visa DT4 which is valid for no more than 12 months.

The application file for applying for a temporary residence card to a foreign investor must be documents proving the status of the sponsoring agency, organization, individual; documents proving the relationship between the investor and the sponsoring agency, organization or individual; information of the sponsored investor; relevant document information to determine the type of temporary residence card issued to investors; and declarations in accordance with the law.

If foreign investors and representatives of foreign organizations investing in Vietnam wishing to stay in Vietnam, they need to apply for a temporary residence card according to the conditions, documents, procedures of Vietnamese law.  It is important to consult with immigration law firm in Ho Chi Minh City, or in Hanoi, Da nang for effective solutions.

Source: https://antlawyers.vn/library/how-to-invest-do-business-and-reside-in-vietnam-in-2022.html

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