International law firm in Vietnam

ANT Lawyers is Vietnam exclusive member of Prae Legal, an international law firm network.

International law firm in Vietnam 

Prae Legal Network provides clients with access to global legal resources through its vast network of well-established 242 law offices in trade centers in129 countries.
Our respectable and influential professionals are experienced in all fields of law. We are ready to provide legal solutions to companies and people all around the world for their legal needs. We can help when you would do business transactions in the most challenging parts of the world.
Prae Legal provides comprehensive legal expertise in almost all major practice and industry areas. We have general and subject specific legal expertise that could be applied to different needs of each industry. An industry will be interested in legal developments affecting its own business and legal environment.
For Vietnam legal matters or services, the client could reach the Vietnam law firm members via email at vietnam@praelegal.com or ant@antlawyers.vn or contact the Vietnam law firm member directly via office telephone at +848 35202779.
We have the ability to provide in depth legal assistance in the following practice areas:

Agricultural & Agribusiness
Antitrust, Competition and Trade Group
Automotive
Aviation
Banking and Financial Services
Business Crimes and Compliance
Capital Markets
Construction and Infrastructure
Corporate Organizations and Securities
Employee Benefits and Pensions
Employment and Labor Law
Energy and Natural Resources
Environmental
Government Affairs
Health Care Industries
Immigration
Insolvency, Bankruptcy and Restructuring
Insurance and Reinsurance
Intellectual Property
Life Sciences
Litigation, Arbitration and Dispute Resolution
Media, Entertainment and Sports
Mergers and Acquisitions
Private Equity
Project Finance
Real Estate
Tax
Technology, Outsourcing and Privacy
Telecommunications
Products Liability and Toxic Tort
Trademarks, Copyrights, Trade Secrets and Unfair Competition
Product Liability and Product Safety
Cross-Border Transactions
E-Commerce & Technology
Product Liability and Product Safety

Read More

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

Read More

Mandatory Announcement of Cosmetic Product

BUSINESS OWNERS BEING ORGANIZATIONS AND INDIVIDUALS RESPONSIBLE FOR LAUNCHING COSMETIC PRODUCTS ON THE MARKET ARE ONLY ALLOWED TO PUT INTO CIRCULATION WHEN THE COMPETENT STATE AGENCIES APPROVE AND THE BUSINESS OWNERS MUST BEAR FULL RESPONSIBILITY FOR THE SAFETY, EFFICIENCY AND PRODUCT QUALITY. COMPETENT STATE AGENCIES WILL CONDUCT POST-TRADE TEST WHEN THE PRODUCTS ARE BEING SOLD TO THE MARKET.

Cosmetics are substances or preparations used in contact with the external parts of the human body (skin, hair, nails, lips and external genital organs) or the teeth and oral mucosa with the main purpose is to clean, perfume, change appearances, form, adjust body odor, or protect body or to keep the body in good condition.  The following will provide conditions and list of cosmetic types subject to mandatory annoucement.

1. Conditions to apply:

- Organizations and individuals responsible for launching the product into circulation on the market must have function to doing cosmetics business in Vietnam

- The announcement of the features of cosmetic products (intended use of the product) must satisfy the ASEAN guidelines on disclosure features of cosmetic products

2. Kinds of cosmetic that have to announce the distribution of cosmetics:

Kinds of cosmetic products must disclose the circulation of cosmetic products:

- Cream, emulsion, lotion, gel and oil for skin (hand, face, feet)

- Face mask (with the exception of chemistry peeling products)

- Tinted (liquid, paste, powder)

- Makeup powder, after shower powder, toilet powder

- Bath soap, deodorant soap

- Perfume, toilet perfume

- Products for bath or shower (salt, foam, oil, gel)

- Hair removal products

- Deodorants and anti-perspirants

- Shaving products (cream, foam, lotion)

- The makeup and makeup remover products for face and eyes

- Products used for lips

- Products for take caring teeth and mouth

- Products for nail care and adorn

- The products used to clean the outside

- Sun cream products

- Products for tanning without sun

- Skin whitening products

- Anti-wrinkle products

- Other products

Some products which are not classified as cosmetics:

Anti-mosquito products, air freshener, fabric softener, bleach, toilet, oxygen liquid, antiseptic alcohol 700, alcohol 900, denture cleaning products that are not exposed to the oral cavity, fake eyelashes, liquids to take care of eyes/nose/ears, against nasal congestion product, anti-snoring products, vaginal lubrication gel, ultrasound gel, the product in contact with the genital, rectal enema, anesthesia , reduce/control the swelling/edema, dermatitis treatment, allergy relief, anti-fungal, anti-virus products, stimulate hair/eyelash growth, the product removed/reduced fat/ reduced body size, weight loss products, prevent/stop hair growth products, stop sweating process, permanent tattoo ink, remove keloid scars reduction products, wound cleaning products.

Read More

Investment Incentives for IT area in Vietnam

VIETNAM IS ATTRACTING INVESTORS FROM AROUND THE WORLD TO MAKE INVESTMENT THROUGH SETTING UP IT SERVICE COMPANY IN VIETNAM

Since 2010, Vietnam has initiated and invested more resources in the information technology which has been realized as an area that could create a competitive edge for Vietnam.  Recently, the Vietnam government has put a legal frameworks to attract more investment in this area, with the issuance of Decree No.154/2013/ND-CP, taking effect from Jan 1st, 2014 guiding particularly on management of the focused information technology areas.

Accordingly, the enterprises at focused information technology areas will enjoy tax benefits i.e. income tax rate of 10% within 15 years, in some specific cases, extended to 30 years; exempt 50% within 5 continuous years. They are exempted the import tax when importing goods to build fixed properties, manufacture such as machines, equipment, parts, assembles.

Besides, these enterprises may enjoy convenient conditions in customs procedure, incentives in export tax, investment credit, import credit and favorable policies for enterprises business in high technology area.

The focused information technology area must have at least 2,000 employees specialized in information technology; in case of emphasizing in software manufacture, digital content, information technology service, 1,000 specialized employees will be employed at least. 

Read More

Construction Contract in Vietnam

COMPANIES SEEKING TO BUILD AN OFFICE BUILDING OR INDUSTRIAL FACILITY WORK WITH THE CONTRACTOR THROUGH A CONSTRUCTION CONTRACT.

There are several types of construction contract used in the construction industry depending on the level of control from parties involved in terms of investment, responsibilities and duration.

Fixed price is a type of construction contract that offer a total fixed priced for all construction related activities. This contract type could include incentives or benefits for early termination, or can also have penalties, called liquidated damages, for a late termination. This contract type is preferred when a clear scope and a defined schedule has been reviewed and agreed upon.

Cost plus contract is a type of construction contract involves payment of the actual costs, purchases or other expenses generated directly from the construction activity. This type of contract must contain specific information about certain pre-negotiated amount (some percentage of the material and labor cost) covering contractor’s overhead and profit. Costs must be detailed and should be classified as direct or indirect costs.

Time and material contract is usually preferred if the project scope is not clear, or has not been defined. The owner and the contractor must establish an agreed hourly or daily rate, including additional expenses that could arise in the construction process. The costs must be classified as: direct, indirect, mark-up, and overhead. Sometimes the owner might want to establish a cap or specific project duration to the contractor that must be met, in order to have the owner’s risk minimized.

If you need help in reviewing or drafting contract in Vietnam, please contact us at ant@antlawyers.vn or call + 848 35202779.

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.

Read More

Simplifying the procedure for foreigner to reside in Vietnam

FOR FOREIGNERS WISHING TO COME TO VIETNAM TO WORK AND RESIDE TEMPORARILY, THEY NEED TO EITHER SET-UP A COMPANY IN VIETNAM OR WORK FOR OTHERS. THE OWNER OF THE COMPANY DOES NOT NEED A WORK PERMIT BUT STILL NEED TO APPLY FOR TEMPORARY RESIDENCE CARD.

However, the foreign employee will need the employer to sponsor the work permit in Vietnam before applying for temporary residence card. A recent draft law on entry, exit and residence of foreigner in Vietnam has been proposed with some changes. The draft regulates many open provisions on entry-exit procedure, temporary and permanent residence conditions for foreigner to reside in Vietnam. ANT Lawyers always follows the new updates about administrative procedures in Vietnam to provide our client with the best service.

The new draft law details conditions for granting the temporary residence card for foreigners working in Vietnam, rising term of this card from 3 year to 5 year. The foreigners’ category expands to scientists and specialists residing in Vietnam for the purpose of attracting international talents, the foreigners who don’t have any type of document proving nationality, and have resided in Vietnam before the year 2000. The foreigners holding temporary residence card must change card per periodically 10 years at the issuing offices. The draft law does not allow the foreigners to change the entry purpose, but allows them to supplement the purpose of belonging persons in some specific cases such as in term of diplomatic representative offices, consulate, international representative office of United Nations and students at universities, colleges, schools.

For more information or requirement of legal services to obtain temporary residence card in Vietnam, we could assist. ANT Lawyers, your lawyers in Vietnam.

Read More

Criminal record in Vietnam

Criminal Record Cards provides criminal or judicial information about a person in Vietnam. The Vietnam law on criminal record governs the process to obtain the criminal records cards.

Accordingly, to obtain the Criminal Record cards in Vietnam, the applicant must apply at the provincial/ municipal Justice Department in Vietnam. For foreigners residing in Vietnam, he/she has to submit the request to the Department of Justice where he/she resides and receives the results at Justice Department.

Documents required are: i) the written application form; ii) certified photocopies of passports; iii) a copy of the permanent or temporary resident card in Vietnam; iv) authorization letter in case of authorized application for Criminal Record card (if the authorized persons are not the parents, spouse or children). The written authorization must be certified or authenticated in accordance with the law; v) application letter for granting Criminal Record.

During the process of applying for the Criminal Record, the applicant might has to work with the police agencies; the Court: in case there are not sufficient evidence at the police agencies to conclude that the applicant has no criminal records or the content of the applicant’s criminal records is not clear; People’s Committees of communes, wards and townships; agencies, organizations and agencies related proceedings: in case of coordination to verify the conditions of having his/her conviction automatically written off.

In practice, there are cases when the foreigner already left Vietnam and now he/she is in need of Criminal Record for the time he/she resided in Vietnam.  We have successfully assist clients in various cases.  If you have any inquiries, please contact us at ant@antlawyers.vn or call us at office tel +848 35202779.

Let ANT Lawyers help your business in Vietnam.

Read More