vietnam

Digital Signatures In Signing Labour Contracts

Digital signatures can be used by businesses to sign labour contracts with their employees. This update discusseses the legal validity of digital signatures with employees.

Vietnam Updates From ADK - Vol. 35: Law amending and supplementing the Law on Investment, the Law on Enterprises

Bản Tin Pháp Luật Từ ADK - Số 35: Luật sửa đổi, bổ sung Luật Đầu tư, Luật Doanh nghiệp

In this update: 1) National Assembly issues Law No. 03/2022/QH15 amending and supplementing a number of articles of the Law on Investment, the Law on Enterprises, 2) Eliminating the requirement to have a certificate of full dose of COVID-19 vaccine or a certificate of recovery or negative test on domestic flights

Axie Infinity Redux

Vietnam’s startup darling Axie Infinity is in the news. Like the United States on the back of trillions of dollars of newly printed dollar bills, Axie Infinity is suffering from a classic economic problem: inflation.

New measures to control greenhouse gas emissions in Vietnam

In this January 2022, three new legal documents have been issued regarding the reduction of greenhouse gas emissions and protection of the ozone layer, including Decree 6 of the Government dated and effective from 7 January 2022 (Decree 6/2022). The legislation seems to a step to implement Vietnam’s commitment to achieve net-zero carbon emissions by 2050 in the COP26.

Structure for foreign lenders to take mortgage over Land Use Right held by Vietnamese borrowers

Under the Land Law of 2013, a foreign lender cannot take a mortgage over a land use right from a Vietnamese borrower. However, a foreign lender with the support of a Vietnamese bank may consider the some structures to allow a Vietnamese company borrower to use its land use right as security for a foreign lender.

“Seat of arbitration” and “venue of arbitration” – What do they mean under Vietnamese law?

In international arbitration, determining the “Seat Of Arbitration” is important since the law of the country where the seat of arbitration is located will usually govern the arbitration proceedings. In Vietnam, the Law on Commercial Arbitration 2010 does not have a clear definition of “seat of arbitration” and “venue of arbitration”.

Will the number of preference shareholders be taken into account in determining public company status in Vietnam?

The Securities Law 2019 is not clear whether the number of preference shareholders will be taken into account when determining whether a company is a public company.

Approved 2021-2030 Land Use Master Plan

On 13 November 2021, the National Assembly issued Resolution No. 39 to approve the land use master plan for the period 2021-2030 with a vision to 2045 and a land-use plan in 5 years from 2021 to 2025 (Land Use Master Plan).

Vietnam Weekly Update - 24 January 202

Cập Nhật Hàng Tuần Việt Nam - 24 Thang 01 2022

In this update: 1) Value added tax policy in merger and separation of companies, 2) Expenses deductible when calculating corporate income tax and personal income tax with the payment of unpaid leave days for employees, 3) The management of petroleum business, and 4) Calculating PIT for foreigners.

Credit Information in Vietnam

A summary of credit information services regulation in Vietnam.

Vietnam Updates From ADK - Vol. 34: The value-added tax rate is officially reduced from 10% to 8% in 2022

Bản Tin Pháp Luật Từ ADK - Số 34: Chính thức giảm thuế suất thuế giá trị gia tăng từ 10% xuống 8% trong năm 2022

In this update: 1. The value-added tax rate is reduced from 10% to 8% in 2022, 2. New regulations toward procedures for registration fee deferment for houses and land, 3. Road map to limit production and import of single-use plastic products, plastic packaging, and products and goods containing microplastics.

Vietnam Updates From ADK - Vol. 33: Credit institutions to buy corporate bonds when non-performing loan ratio is below 3%

Bản Tin Pháp Luật Từ ADK - Số 33: Tổ chức tín dụng chỉ được mua trái phiếu của doanh nghiệp khi có tỷ lệ nợ xấu dưới 3%

In this update: 1) Additional regulations on sanctioning for the case of making invoices lacking required information, 2) Credit institutions only allowed to buy corporate bonds when their non-performing loan ratio is below 3%, 3) Decree 08/2022/ND-CP takes effect from 10 January 2022.

Vietnam: Stop producing, importing single-use plastic products after December 31st, 2023

In this update: 1) According to Decree 08 2022 and guiding the Law on Environmental Protection 2020, the Government requires that after 2030, the production of single-use plastics should be stopped, and 2) Supplement the sources for receiving complaints in civil judgment enforcement.

E-Commerce VAT Registration/Reverse Charge Implementation Date Extended

The General Department of Taxation (“GDT”) issued Notification no. 776 GDT on the 17th of January 2022 (“Notification 776”) which delays the implementation of Prakas 542 MEF.P on the Rules and Procedure for the Implementation of VAT on E-Commerce (“Prakas 542”) to 31 March 2022.

Vietnam Weekly Update - 17 January 2022

Cập Nhật Hàng Tuần Việt Nam - 17 Thang 01 2022

In this legal update: 1. Detailed regulations on the implementation of several articles of the Law on Real Estate Business, 2. Detailed regulations on the implementation of several articles of the Law on Real Estate Business; and 3. Guidance on insurance premium tax refund.

Digital Banking in Vietnam

On 11 May 2021 the State Bank of Vietnam adopted Decision 810 approving the plan for the digital transformation of the banking sector by 2025 with orientations towards 2030, which outlined the specific goals on digital transformation rates for the operations of credit institutions.

Vietnam: Reducing the levy of 37 fees to assist and alleviate difficulties for entities affected by Covid-19.

Viet Nam: Giảm mức thu 37 khoản phí, lệ phí nhằm hỗ trợ, tháo gỡ khó khăn cho đối tượng chịu ảnh hưởng bởi dịch Covid-19.

In this update: 1. Reducing the levy of 37 fees and charges to assist and alleviate difficulties for entities affected by Covid-19, 2. Customs documents for imported humanitarian aid goods, gifts and presents serving the prevention and fight against Covid-19.

Vietnam Updates From ADK - Vol. 32: . Decree 02 on the Implementation of the Law on Real Estate Trading

Bản Tin Pháp Luật Từ ADK - Số 32: Chính phủ ban hành Nghị định 02/2022/NĐ-CP thay thế Nghị định 76/2015/NĐ-CP quy định chi tiết thi hành một số điều của Luật Kinh doanh Bất động sản.

1. The Government promulgates Decree 02/2022/ND-CP replacing Decree 76/2015/ND-CP detailing the implementation of a number of articles of the Law on Real Estate Trading, 2. Some types of service businesses are allowed to re-open in Ho Chi Minh City, 3. The Supreme People's Court publish 09 new legal precedents.

The Metaverse and Vietnam

For the Metaverse, what works in America may not work in other parts of the world, nor be particularly well adapted to different cultures. There are questions as to whether Zuckerberg’s Metaverse will be able to operate in Vietnam and what some of the legal implications might be if it tries.

Allocating Sea Area for Offshore Wind Power Projects In Vietnam

Giao Khu Vực Biển cho Các Dự Án Điện Gió Trên Biển ở Việt Nam

It is likely that an offshore wind power project (Offshore WPP) will need to follow the procedures under Decree 11/2021 in order to be allocated with the necessary sea area for development and operation of the Offshore WPP, as explained in this legal update.