How to Optimize Your Debt Recovery Process?
Currently, the situation of bad debts and disputes related to debt recovery is significantly increasing across various business sectors. Enterprises often face difficult-to-collect debts from business partners or customers. Failure to recover debts on time not only severely impacts the financial situation but also results in lost business opportunities for the enterprise. This situation demands […]
Establishing a Business and Choosing a Business Type
Question: Dear Lawyer, if I want to establish a single-member limited liability company (LLC) with an individual member, are there any restrictions on the minimum capital? Is it necessary to submit documentation proving the source of capital? Answer: The Enterprise Law does not stipulate a minimum capital requirement for establishing a company. The company may […]
Conditions and procedures for establishing a foreign-invested company (FIC) in Vietnam in the fields of security services and laundry services.
Question: Dear lawyer, I would like to receive advice on the conditions and procedures for establishing a foreign-invested company (FIC) in Vietnam in the fields of security services and laundry services. Answer: Under Vietnamese Law on Investment, for setting up a FIC in Vietnam, the Client is required to propose an Investment Project initially to […]
Consultation on payment for unused leave
Question: Dear Lawyer, our company is facing several resignation cases with legal violations as follows: Disappearance: Some employees abandoned their shifts for more than five consecutive days, and we are currently processing their termination as dismissal. Resignation with insufficient notice: Employees are required to give 30-45 days’ notice. However, some individuals failed to meet this […]
To fulfil its purpose
The Ministry of Finance (MoF) has proposed two major changes to Vietnam’s corporate bond market: prohibiting individual investors from buying privately-placed bonds, and requiring that publicly-issued bonds are backed by collateral. The proposals have sparked a degree of debate, with some experts agreeing that the measures would protect individual investors, who tend to have lower […]
Procedures for reporting, processing, and tax obligations arising when the company changes its legal representative to a new person and for the former representative
Question: Dear Lawyer, in the case of changing the legal representative to a foreign employee as mentioned above, how should our company report, handle, and pay the arising taxes? We kindly request legal advice from you for our company. Regarding the obligation to settle personal income tax (PIT) for the previous legal representative Based on […]
What is the procedure for changing the legal representative to a foreign national?
Question: Dear Lawyer, Our company wishes to change the legal representative to a foreign national, specifically a Chinese citizen. Therefore, we would like to seek your legal advice on the procedures and steps required to carry out the above-mentioned procedure with the state authorities. Answer: Legal Basis: Regarding the procedures: Step 1: Terminating the labor […]
What is the current procedure for changing the legal representative of Company
1. What is the current procedure for changing the legal representative of Company? Step Description Execution Venue Duration Documents Fees Legal Basis Notes Step 1: Terminating the labor contract with former legal representative Company agreed to terminate the labor contract with former legal representative Internal N/A Termination Agreement N/A Clause 3, Article 34 of the […]
Payment of wages to employees due to power outage caused by typhoon Yagi
Question: Few days ago, our factory experienced a power outage due to the Typhoon Yagi, and the night shift workers had to leave 3 hours early. Dear Lawyer, in this case, how should the company pay for those 3 hours of work in accordance with the law? Answer from the Lawyer: According to Point A, […]