ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

Hiển thị các bài đăng có nhãn Business in Vietnam. Hiển thị tất cả bài đăng
Hiển thị các bài đăng có nhãn Business in Vietnam. Hiển thị tất cả bài đăng

6.14.2016

TOP 10 CHALLENGES OF DOING BUSINESS IN VIETNAM

Expanding gross domestic product (GDP), modern infrastructure and a dramatic increase in foreign direct investment (FDI) are signs that Vietnam has transformed into an attractive investment destination, but there are still barriers to doing business which are best navigated with local help on board.

Since 1988, there have been 13,544 foreign investment projects with a total registered capital of US$213 billion in Vietnam, building a large overseas investment sector which occupies about 17% of GDP and 43.4% of industrial product value. Overseas firms are attracted by Vietnam’s 87 million-strong population which supports a large and young workforce and that has also seen an increase in disposable income in recent years.
Strong economic growth rates have been a common feature of the Vietnamese economy since the 1990s, and even though the high levels slumped slightly during the global financial crisis, the country has rapidly returned to pre-crisis growth trends and is expected to continue on this path. Infrastructure, tourism development, and related real estate and retail sector development in urban areas are all attracting large amounts of FDI, and overseas firms are increasingly attracted by the country’s move from a centralized to a market-orientated economy.
However, The World Bank and International Finance Corporation (IFC) rank Vietnam in 99th place in the world for ease of doing business, which means it is essential to seek local help of law firms and lawyers in Vietnam when expanding into the country.
Starting a Business
There are 10 procedures to undertake when starting a business in Vietnam, making it among the most complex start-up environments in the world. What’s more, many tasks facing new corporate entities may be unfamiliar to overseas companies, making the task far more rigorous. Registration of the seal-sample at the State Agency, for example, or publicly announcing the formation in a local newspaper are procedures most companies generally don’t have to complete.
Dealing with Construction Permits
It takes 110 days and 11 procedures to get permits for construction in Vietnam, once again requiring interaction with several official departments. Inspections must be carried out by the Department of Construction and the municipality, and certificates should be obtained from the Firefighters Prevention Department, the Department of Construction and the Department of Natural Resources and Environment.
Getting Electricity
Getting electrical connection is among the most rigorous tasks facing startups in Vietnam, taking 115 days to complete and costing a significant percentage of income per capita. Inspections by the local power corporation are required before completing processes with the Traffic and Transport Department and the Firefighters Prevention Department.
Registering Property
Registering property in Vietnam takes 57 days to complete, which is far higher than the OECD norm but around average for East Asia and Pacific. Contracts between the transferor and the transferee are signed before taxation is paid and registration for the right to use land is complete.
Getting Credit
Vietnam is home to quite a stable credit environment, and obtaining capital is a relatively smooth process for businesses. However, the lack of a private credit bureau can make the process a little trickier for overseas firms.
Protecting Investors
Investor protection is an area in which Vietnam needs to improve. It is ranked in 169th place by the World Bank and IFC, with a weak director liability index and shareholder suits index.
There are massive 32 corporate tax payments to be made each year which takes an average of 872 company hours to complete. Compared to the OECD norm of 176 and the East Asia and Pacific average of 209, taxation is one of the most burdensome processes of doing business in Vietnam.
Given its strong manufacturing base and reliance on interconnectivity, trading across borders is a cheap endeavour. However, that isn’t to say the process is not complicated, and the stream of documentation required for both importing and exporting highlights that cross-border trade can be difficult at the best of times.
Enforcing Contracts and Resolving Insolvency
Enforcing contracts takes 400 days to complete and 34 procedures. Resolving insolvency is a far more laborious process, taking five years on average to complete and with a low recovery rate.
Culture
The Vietnamese believe in the teachings of the early Chinese philosopher Confucius which emphasize the importance of relationships, responsibility and obligation. Vietnam is also a collectivist country and community concerns will almost always come before business or individual needs.
ANT Lawyers


We have the local knowledge to help you navigate these minefields. Whether you want to set up in Vietnam or just want to streamline your Vietnamese operations, we could assist.

5.10.2016

TOP 10 CHALLENGES OF DOING BUSINESS IN VIETNAM

Expanding gross domestic product (GDP), modern infrastructure and a dramatic increase in foreign direct investment (FDI) are signs that Vietnam has transformed into an attractive investment destination, but there are still barriers to doing business which are best navigated with local help on board.

Since 1988, there have been 13,544 foreign investment projects with a total registered capital of US$213 billion in Vietnam, building a large overseas investment sector which occupies about 17% of GDP and 43.4% of industrial product value. Overseas firms are attracted by Vietnam’s 87 million-strong population which supports a large and young workforce and that has also seen an increase in disposable income in recent years.
Strong economic growth rates have been a common feature of the Vietnamese economy since the 1990s, and even though the high levels slumped slightly during the global financial crisis, the country has rapidly returned to pre-crisis growth trends and is expected to continue on this path. Infrastructure, tourism development, and related real estate and retail sector development in urban areas are all attracting large amounts of FDI, and overseas firms are increasingly attracted by the country’s move from a centralised to a market-orientated economy.
However, The World Bank and International Finance Corporation (IFC) rank Vietnam in 99th place in the world for ease of doing business, which means it is essential to seek local help when expanding in the country.
Starting a Business
There are 10 procedures to undertake when starting a business in Vietnam, making it among the most complex start-up environments in the world. What’s more, many tasks facing new corporate entities may be unfamiliar to overseas companies, making the task far more rigorous. Registration of the seal-sample at the Police Department, for example, or publically announcing the formation in a local newspaper are procedures most companies generally don’t have to complete.
Dealing with Construction Permits
It takes 110 days and 11 procedures to get permits for construction in Vietnam, once again requiring interaction with several official departments. Inspections must be carried out by the Department of Construction and the municipality, and certificates should be obtained from the Firefighters Prevention Department, the Department of Construction and the Department of Natural Resources and Environment.
Getting Electricity
Getting electrical connection is among the most rigorous tasks facing startups in Vietnam, taking 115 days to complete and costing a significant percentage of income per capita. Inspections by the local power corporation are required before completing processes with the Traffic and Transport Department and the Firefighters Prevention Department.
Registering Property
Registering property takes 57 days to complete, which is far higher than the OECD norm but around average for East Asia and Pacific. Contracts between the transferor and the transferee are signed before taxation is paid and registration for the right to use land is complete.
Getting Credit
Vietnam is home to quite a stable credit environment, and obtaining capital is a relatively smooth process for businesses. However, the lack of a private credit bureau can make the process a little trickier for overseas firms.
Protecting Investors
Investor protection is an area in which Vietnam fails miserably. It is ranked in 169th place by the World Bank and IFC, with a weak director liability index and shareholder suits index.
Paying Taxes
There are a massive 32 corporate tax payments to be made each year which takes an average of 872 company hours to complete. Compared to the OECD norm of 176 and the East Asia and Pacific average of 209, taxation is one of the most burdensome processes of doing business in Vietnam.
Trading Across Borders
Given its strong manufacturing base and reliance on interconnectivity, trading across borders is a cheap endeavour. However, that isn’t to say the process is not complicated, and the stream of documentation required for both importing and exporting highlights that cross-border trade can be difficult at the best of times.
Enforcing Contracts and Resolving Insolvency
Enforcing contracts takes 400 days to complete and 34 procedures. Resolving insolvency is a far more laborious process, taking five years on average to complete and with a low recovery rate.
Culture
The Vietnamese believe in the teachings of the early Chinese philosopher Confucius which emphasise the importance of relationships, responsibility and obligation. Vietnam is also a collectivist country and community concerns will almost always come before business or individual needs.
ANT Lawyers
We have the local knowledge to help you navigate these minefields. Whether you want to set up in Vietnam or just want to streamline your Vietnamese operations,

8.17.2015

Report the Demand to Use Foreign Workers in Vietnam

In order to manage the usage of foreign workers in Vietnam, the Vietnam state authority has requested employers to provide explanation for such need to use foreign workers.  This will be the preliminary procedure before applying for work permit in Vietnam then temporary residence card in Vietnam for foreigners.  The report of demand to use of foreign workers has to meet the following requirements:


Demand to use foreign workers: The employer (except contractors) is responsible for determining the demand to use foreign employees for each position that the Vietnamese employee has not met the requirement and submit written explanation. In case the employer is a contractor, in the bidding documents, it is required to declare the number, qualifications, professional competence and experience of foreign workers mobilized to implement bidding packages.
Recipient: Chairman of People’s Committees of provinces and cities under central authority (hereinafter referred to as the provincial People’s Committee) where the employer is headquartered.
Periodic notification period: Every year, the employer (except contractor) is responsible for determining the demand to use foreign employees for explanation.
The period of notice for the first time: Before at least 30 days from the date the employer (except contractor) plans to recruit foreign employees, the employer must report explanations as provided in Paragraph 1 Article 4 of Decree No. 102/2013 / ND-CP on the demand to use foreign workers, including work position, number, qualifications, experience, salary, working hours and submit directly to the Department of Labour – Invalids and Social Affairs of provinces and cities under central authority (hereinafter referred to as the Department of Labor – Invalids and Social Affairs) where the employer is headquartered.
The period of notice the adjustment: The employer whom is approved to use foreign employees, that have changes in the demand for foreign workers, has to directly submit the report explaining the adjustment and supplementation at least 30 days before the expected day for new recruitment, additional recruitment or recruitment to replace foreign workers with the Department of Labour – Invalids and Social Affairs where the employer is headquartered.
ANT Lawyers will be available to assist the clients when required dealing with the employment matters for foreign workers in Vietnam.
For advice or service request, please contact us via email ant@antlawers.vn, or call +84 8 3520 2779.  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.

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

3.23.2015

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.

Incorporation and licensing services in Vietnam


In Vietnam, Ant Lawyers advises on pre-licensing/set up issues, licence application, operational issues and post-licensing services, which also involves preparation and filing of documents.

We also assist our clients in other related work such as annual reviews to renew their business licences and preparation of board resolutions and other documents to effect changes in registrations.

Our team of commercially astute practitioners advises clients on a full range of regulatory and compliance issues to achieve successful operation of their businesses in Vietnam.


If you would like further information on Dispute resolution, please either email to our Partners at. ant@antlawers.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.