Legal Updates 3
Circular No. 50/2012/TT-BCT promulgating the National Technical Regulation on Risk Acceptance Criteria used for Quantitative Risk Assessment (QRA) of petroleum, oil and petrol, chemical, thermal power activities. On December 28, 2012, the Ministry of Industry and Trade issued the Circular No. 50/2012/TT-BCT promulgating the National Technical Regulation on Risk Acceptance Criteria used for Quantitative Risk […]
Can Foreign Investor create a Vietnam company with 100% ownership in the field of engineering?
(S&B Law) The answer is yes, it is possible for foreign investor to set up 100% foreign invested company according to Vietnam law. Under Vietnam Law on Investment, in order to setting up a foreign invested company (hereinafter referred to as “NewCo), Foreign Investor is required to propose an Investment Project. Investment Project is understood […]
ePCT – an online service for filling patent easily.
Nowadays, companies seek a protection for their Intellectual Property items (such as trademarks, patents, industrial designs etc) not only in their countries but also in multiple countries. Therefore, international systems of Intellectual Property protection have been established, including conclusion of treaties and establishment of international bodies and organization. One of the most important treaties which […]
Vietnam, a new dragon of ASEAN
Vietnam deserves to be a “new dragon” of the Association of Southeast Asian Nations (ASEAN), said analysts at a seminar held in Paris , France on January 15 on Vietnam ’s investment potential. They agreed that Vietnam is an open country, which is on the right track to develop strongly and holds great potential of […]
Singapore, Vietnam DTA Protocol Comes Into Force
The Inland Revenue Authority of Singapore has announced that the second protocol amending the existing double taxation agreement (DTA) between Singapore and Vietnam entered into force on January 11, 2013, and is generally effective from January 1, 2014. The protocol, which was signed on September 12 last year, revises various matters within the original DTA […]
Tax law revision gives lifeline to property investors.
The amended corporate income tax law, which will be submitted to the government this month and forwarded to the National Assembly in May, contains a provision that will help real estate investors offset their losses. The prevailing law bans enterprises from using their profits from production and business activities to cover the losses from real […]
Anti money laundering law is effective from 1st January 2013
The Law on Prevention of Money Laundering (No. 07/2012/QH13)/ has been passed on 2nd July 2012 by the Parliament with an intention to prevent and detect individuals and organizations indulging in acts of money laundering and ensure anti-money laundering. The law is applicable to the individuals, institutions and organizations dealing with financial transactions and business, […]
Circular 211/2012/TT-BTC dated 5 December 2012 of the Ministry of Finance implementing Decree 90/2011/ND-CP on the issuance of corporate bonds (“Circular 211”)
Ministry of Finance has recently issued Circular 211 guiding Decree 90/2011/ND-CP of the Government on issuing corporate bonds. Circular 211 shall take effect on 20 January 2013. Circular 211 provides specific provisions on terms and conditions of corporate bonds. Particularly, the issuer must publish the terms and conditions of the bonds in accordance with “the […]
Law No.06/2012/QH13 on Deposit Insurance shall be effective from January 01, 2013
The Law on Deposit Insurance has been passed on 18th June 2012 by Vietnam’s National Assembly stipulating the deposit insuance activities, rights and obligations of insured persons of deposits, rights and obligations of the insured persons and state management of deposit insurance with an intention to protect the legitimate rights and interests of the depositors and […]