WHAT FOREIGN INVESTORS NEED TO KNOW ABOUT TAXES IN VIETNAM

Foreign investors whom set-up company in Vietnam always face challenges to understand the tax system in Vietnam. The below briefly explains type of taxes in Vietnam for regular enterprises. In special cases, foreign enterprises are suggested to consult with tax lawyers in Vietnam before establishment and during the operation to ensure compliance Major taxes which enterprises including both local and foreigners are subject...

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WHERE FOREIGN INVESTORS OBTAIN INVESTMENT LICENSE IN VIETNAM?

To set up a business in Vietnam through foreign direct investment, foreign investors need to register the investment license from Vietnam Ministry of Planning and Investment (MPI). Depending on investment business lines, investment conditions, scale of the projects, where investment project is located, other Vietnam State authorities would be involved.  MPI in Vietnam takes charge of developing legislation, guiding, consulting...

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HOW FOREIGN ENTITY COULD SET-UP REPRESENTATIVE OFFICE IN VIETNAM

A foreign business entity or a foreign trader is allowed to establish Representative Office in Vietnam according to the Commercial Law No 36/2005 and Decree No. 72/2006/NĐ-CP dated July 25th, 2006 detailing the commercial law regarding Vietnam-based representative offices and branches of foreign traders. Representative office of a foreign business entity in Vietnam (referred as “Representative Office”) means a subsidiary...

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WORK PERMIT IN VIETNAM

Foreign employee working in Vietnam is required to have work permit issued by respective Department of Labour, War Invalids and Social Affairs (“DOLISA”) of province or city where the company that sponsor work permit registers the business.  Failing to comply would lead to foreign workers to be deported by Vietnam Public Security at the request of DOLISA. Vietnam Labour Code and Decree 102/2013/ND-CP effective on Nov 1st, 2013...

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HOW FOREIGNERS COULD MARRY VIETNAMESE WIFE

When a foreigner marrying a Vietnamese, this is cross cultural marriage with challenges and complexity in relationships which could be legally difficult.  The Vietnam laws on Marriage and Family on marriage and family relations involving foreign elements provide legal grounds to avoid false marriages to gain citizenship or conduct human trafficking. The following should be taken into consideration when a foreigner marrying a...

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JUDICIAL RECORD CARD IN VIETNAM

Judicial record card in Vietnam Procedures to obtain judicial record card (criminal record/ police check) in Vietnam is regulated in the Law no. 28/2009/QH12  of National Assembly of Vietnam on Judicial Record. Judicial record card means a card issued by an agency managing the judicial record database and valid to prove whether or not an individual has a previous criminal conviction, is banned from holding certain posts, establishing...

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NOTABLE IMPROVEMENTS IN VIETNAM INVESTMENT LAW 2014

Vietnam Investment Law 2014 taking effect from July 1st, 2015, replaces the Investment Law 2005 with notable improvements, especially the provisions on business registration in investment projects which foreign investors making investment in Vietnam or setting up business in Vietnam are welcome. The new Vietnam Investment Law in 2014 has brought up the concept of “business investments” to replace the previous two concepts...

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WHY DA NANG IS A PLACE FOR SETTING UP BUSINESS

Da Nang has been creating flexible policies, good environments attracting foreign investors setting up company, building factory, and developing service business. Da Nang is a social and economic center of central area of Vietnam with the role as the center of industry, trade and tourism and service.  It is a seaport city, an important transport hub for the transit of domestic and international transportation. Presently, Da Nang has been...

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Q&A ON COSMETICS REGULATIONS IN VIETNAM

There have been a number of questions arisen after the Webinar on Cosmetic Regulations in Vietnam on May 27th, 2015 and we would like to address those questions as following: 1. Has Vietnam fully implemented the ASEAN Harmonized Cosmetic Directive (ACD)? Yes. Vietnam authorities regularly issue official letters giving instructions and guidance to Department of Health of Cities and Provinces in Vietnam on the application of the decision...

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