Consultation services on banking and finance
SB Law is providing legal consultation to leading financial institutions such as the Hanoi branch of Industrial and Commercial Bank of China (ICBC), Military Bank, Hong Leong Bank, etc. Banking and finance The services provided by SB LAW include: To research and suggest solutions as to the projects which commercial banks sponsor for projects like […]
Foreign Exchange Control in Vietnam
The Vietnamese dong is not freely convertible and the market is still largely dependent on foreign currency, particularly United States dollars. The Government has been implementing measures to gradually reduce the country’s dependency on the dollar. All buying, selling, lending and transfer of foreign currency must be made through banks and other financial institutions authorised […]
Banking and Foreign Exchange in Vietnam
Generally, all foreign investors with established presences in Vietnam will need to open a bank account in order to conduct their business in Vietnam. Foreign investors in Vietnam may open accounts denominated in Vietnamese dong, and may also open accounts denominated in United States dollars and other foreign currencies. Banks include domestic commercial banks, state-owned […]
Trade in Vietnam
Upon Vietnam’s accession to the WTO in 2007, the services market in Vietnam has been liberalised in certain areas, including the trading of goods. Under Vietnamese law, the trading of goods covers the following areas: • ’Right to import’ refers to the rights to import goods into Vietnam for sale to business entities that themselves […]
Investment certification procedures in Vietnam
1. Files for investment registration a) The files include: Proposal for investment registration (as stipulated form); Report on financial capacity of investors (the investor will make and be responsible for this report). With respect to the investment projects associated with the establishment of economic organization, in addition to the files regulated in item 1 of this […]
Overview of investment certification processes in Vietnam
The Diagram of Procedure Sequences: Notes: - (1), (2), (8), (10): at the District-level People’s Committee where the project is carried out (if the project has domestic capital with the area under 0.5 ha and the capital is under VND 15 billion); at Department of Planning and Investment (other projects) - (3), (9): at […]
Preparation, registration/Assessment for Investment Certification in Vietnam
Investors will make their own decision on investment projects and be responsible for the accuracy, truth of investment registration contents, investment project documents and performing registered commitment. Organizations, individuals being competent to establish projects, make investment decisions, investigate or certify investments will be responsible to the law for their proposals and decisions. With respect to […]
Executive summary of doing business in Vietnam
Vietnam has attracted many multinational corporations, including those that seek ways to diversify their operations away from China in their ‘China plus One’ manufacturing strategies. Vietnam’s 87 million-strong population boasts a large and young workforce that has also seen an increase of disposable income in recent years. Starting from a low economic base in the […]
Audit and Accounting in Vietnam
Foreign-invested business entities are generally required to adopt the Vietnamese Accounting System (’VAS’). If a company strictly follows the VAS, registration with the Ministry of Finance (’MoF’) is not required. However, if the VAS is modified, a written approval from the MoF is required before implementation. Accounting records are required to be maintained in VND. […]