Foreign Investors May Be Allowed to Hold 60% Shares

A new decision has been proposed to the Prime Minister with a number of changes that encourage foreign investors to make investment in Vietnam and in the meantime improve the financial market to catch up with international standard.

Foreign investors may be allowed to hold 60% shares

ANT Lawyers’ foreign investment practice always follow the change in legal environment to assist our client with the best service. First, foreign investors could own up to 60% of total voting right shares of a listed company.   The previous provisions only allow this ratio for strategic partners.  Secondly, the foreign investors may hold maximum 49% total voting right shares. The previous provision is 49% of charter capital.  Thirdly, for non-voting right shares, the foreign investors are not restricted to hold.  Fourthly, for fund certificate, the foreign investors may hold 100% for both close and open funds while the previous provision only allows 49% and restricts the foreign –owned in open funds.  Fifthly, foreign organizations business in securities may hold securities companies in Vietnam up to 100% Charter capital while in recent provision, maximum of 49% and 100% for the specific cases.

When the new Decision will have been officially issued, the securities market of Vietnam will be more open and attractive to foreign investors. As expected, impact will be increasing liquidation, opening the conditions to establish investment funds, changing the enterprise’s structure, developing the fund management companies, and as such developing the financial market with more options to invest and control the investment in Vietnam.

For further information or intensive advice, please contact ANT Lawyers, your securities lawyers in Vietnam via email ant@antlawyers.vn or tel (848) 3520 2779.

ANT Lawyers is a Vietnam law firm with international standards, recognized by IFLR1000 on Financial and Corporate practice. We are an exclusive Vietnam member of Prae Legal, the global law firm network covering more than 150 jurisdictions. The firm provides a range of legal services as following to multinational and domestic clients.

Commercial

Dispute Resolution

Debt Recovery

Employment

Foreign Investment

Intellectual Property

International Trade and Taxes

Infrastructure and Project

Civil Matter

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COSMETIC PRODUCT INFORMATION DOSSIER

Vietnam Law provides that every cosmetic product must get a Product Information File (PIF) when delivered to the market in accordance with ASEAN’s instruction which is saved at the address of organizations or individuals who are responsible for putting the product on the market.

The Product Information File involves of the following 04 parts: administrative documents and a summary of product; material quality; product quality and safety, and efficiency.

The administrative documents and the summary of product of the Product Information File must immediately be presented to the agency of Consideration, Investigation when required; others, if inefficiently, must be presented within 15-60 days since the consideration day in regard to the functional agency’s request.



For advise or service request, please contact us via email ant@antlawers.vn, or call +84 8 3520 2779 (HCMC Office), +84 4 39388751 (Hanoi Office). To learn more about us, please visitwww.antlawyers.vn

This publication is designed to provide updated information of legal matters, and does not constitute professional advice.

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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 provide details of the regulations on foreign employment in Vietnam.  It is suggested that companies wishing to employ foreign workers and foreign workers to counsel with employment lawyers in order to ensure compliance.  Our employment lawyers in Vietnam keep following up with the changes in labour regulations  in Vietnam to give our clients the best service.

As the current regulations, the foreign employee might be asked to present his/her work permit at entering or leaving Vietnam or when requested by government authority.  The companies seeking to employ foreign workers are only allowed to employ for managerial or technical positions which Vietnam employee could not meet the requirements of the jobs.  Before employment of foreign workers, the companies will have to report the demand to, and get the approval from the People’s Committee of the province or city where the employers register their business. 

The dossiers submitted to DOLISA have to include: i) application form; ii) health certificate; iii) certificate of criminal record; iv) document to prove managerial or technical experience; v) approval of People’s Committee; vi) passport size pictures; vii) passport; viii) and documents related to the purpose of foreign workers in Vietnam i.e. labour contract, assignment letter. The work permit is valid for two years.

In order to seek further advice, please contact us at ant@antlawyers.vn or call + 84 35202779.  ANT Lawyers, your lawyers in Vietnam.

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Bussiness consultant in Vietnam

In today's marketplace, companies considering sourcing or selling their products overseas must evaluate many more options than in the past and process greater amounts of information in order to make decisions. Moreover, cultural barriers and newly enacted government regulations make global trade even more of a challenge.

We are Ant Lawyers a prestigious Vietnamese law firm that offers a variety of trade, financial, and consulting services to foreign investors. We specialize in facilitating business transactions and partnership opportunities in Vietnam. Our experience and customs-specific knowledge can help you mitigate risk by developing a solid understanding of the international trade issues that may impact your business. If you are planning on doing business in Vietnam, you have come to the right place.

We have experience in facilitating business transactions and most importantly, we have decades of specific local business knowledge and connections in high levels of government authorities and business circles. This knowledge translates into a genuine ability to deliver best results.If you would like further information on Contract consultancy, please either email to our:


ant@antlawyers.vn, or call +84 8 3520 2779 (HCMC Office), +84 4 39388751 (Hanoi Office). To learn more about us, please visit www.antlawyers.vn


ANT Lawyers is a Vietnam law firm with international standards, recognized by IFLR1000 on Financial and Corporate practice. We are an exclusive Vietnam member of Prae Legal, the global law firm network covering more than 150 jurisdictions. The firm provides a range of legal services as following to multinational and domestic clients.


Commercial

Dispute Resolution

Debt Recovery


Employment


Foreign Investment


Intellectual Property


International Trade and Taxes


Infrastructure and Project


Civil Matter


This publication is designed to provide updated information of legal matters, and does not constitute professional advice.

Read More