HOW TO SET-UP TRAVEL SERVICES BUSINESS IN VIETNAM

Foreign investor could only set-up joint venture with Vietnam travel agency to set-up travel services business in Vietnam because transport of passenger belongs to investment areas with conditions applied to foreign investor inVietnam.

Travel Services Business in Vietnam

No one could deny that information technology has tremendously changed the way travel services business operates.  The use of booking reservation system application on smartphone and internet are widespread that make travel has never been easier.   Foreign investor would be interested to explore the travel services market. However, 100% foreign owned company is not allowed to set-up in travel services business in Vietnam. As this investment area is conditional, it is advised that a law firm in Vietnam should be consulted to ensure compliance with local regulations.

The application process and documents requirements are briefly as following:

I. Required documents:

1. Application for the International Travel Business License (form);
2. Certificate of business registration (copy – certified)
3. Business plan for the international travel agency;
4. Tour schedule
5. Proof of at least 4 years of experience in international travel business operations
6. Certified copies of the tourist guides’ cards whereby at least 3 international tourist guides are required
7. Confirmation of bank deposit (as per regulations);
8. Proof of office premises or legally registered place of business

II. Business License Application Procedure

1. Submission of the required documents to the correct authority (Department of Culture, Sports and Tourism of the province/city where the business is headquartered).
2. The Department of Tourism of the province/city completes the records of appraisal and submits a written request with the agency’s records to the Minstry of Culture, Sports and Tourism in Vietnam within ten working days from the date of receipt of a valid application. When cases are not eligible for the proposed permit to the state agencies, the provincial tourism department shall cite the specific reasons for refusal.
3. The state management agency of tourism (VNAT – Ministry of Culture, Sports and Tourism) is responsible for reviewing and licensing the international travel business within ten working days from the date of both receipt of the file and written request of the state agency of tourism in the province. In case of refusal, the ministry shall state the specific reasons to the state and provincial tourism authorities

III. Number of records

– Submission to the Department of Culture, Sports and Tourism: 01

– Tourism Authority Filed in: 01

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HOW TO ESTABLISH A COMPANY IN VIETNAM

Foreign investors may invest in the form of 100% capital to establish a limited liability company, joint stock company, partnership company or other forms in investment in Vietnam.

Foreign investors that invest in Vietnam for the first time must have investment projects and fill in investment registration or examination procedures at state agencies in charge of investment in order to be granted investment registration certificates. Investment certificates shall concurrently be business registration certificates.  Company with 100% foreign capital has founded and operated from the date of issuance of the investment certificate.

A project dossier for establishing a company in Vietnam shall comprise:

• Registration/Request for issuance of Investment Certificate;
• A report on financial capability of the investor;
• Draft of the company’s charter;
• List of members of company: a) copy of the people’s identity card, passport or other lawful personal certification, for individual members; b) copy of the establishment decision, business registration certificate or other equivalent document, for member organizations; copies of the authorization document, the people’s identity card, passport or other lawful personal certification, for authorized representatives. Copies of the business registration certificates of the foreign member organizations must be authenticated within three months before the date of submission of the business registration dossier by agencies where such organizations are registered;
• Written authorization of the investor in case investor is organization and valid copy of the lawful personal certification of the authorized representative. Documents in foreign languages must be translated into Vietnamese, notarized and legalized;
• The joint-venture contract or Business Cooperation Contract (BCC);
• Other documents required by Vietnam law.

The establishment of a company in Vietnam would take from 30 days.  The extra time might be needed in case theinvestment area is conditional or the State government needs to examine the investment project.  Minimum capital, special licenses or other conditions might be required in certain investment projects.

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NEW VIETNAM REAL ESTATE DRAFT LAW GIVING MORE RIGHTS TO FOREIGNERS IN VIETNAM

ANT Lawyers’ real estate legal practice gives client legal advice on real estate legal matters in Vietnam.  We are keeping track with changes in the Vietnam legal environment to ensure giving our client the best advice.  

Vietnam real estate draft law

Real estate market in Vietnam is experiencing a difficult time.  The government has realized that there is a huge demand from the foreigners and oversea Vietnamese investing in Vietnam in owning real estate in Vietnam however the legal regulations on such matter have not yet encouraged them to make the investment.  

The Vietnam Ministry of Construction has enacted the fifth Draft of Law on Real Estate Business (amending), which regulates two new noteworthy provisions relating to the scope of real estate business of foreigners and Vietnamese overseas.

While the current regulations in Law on Real Estate 2006 only allow the foreign and oversea Vietnamese organizations, individuals to establish houses, construction works for sale, lease, lease-buy; to invest, reclaim land and set up facilities on the leased land for leasing.  The new Draft of Law on Real Estate expands the scope to i) rent houses, construction works in order to sub-lease; ii) foreign and oversea Vietnamese organizations or individuals operating in real estate area, foreign invested capital enterprises, branches, representatives of foreign enterprises, investment funds, branches of foreign banks currently operating in Vietnam are also permitted to rent, buy and own the office areas for their own work or for lease; to buy, rent, lease-buy houses according to Vietnam law on houses.

Our real estate lawyers in Vietnam have experience in the field of real estate and we have solutions for our client based on client’s unique situation.

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.

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WHICH FORM OF INVESTMENT – BRANCH OR COMPANY?

Foreign entities can set-up company or branch offices in Vietnam to carry out business activities.

There are several main different aspects between opening a branch office or establishing a foreign owned company in Vietnam.

1. Conditions

• Permits for establishment of Vietnam-based branches of foreign enterprise shall each have a valid term of five years.
• Foreign enterprise must choose between establishing a 100% foreign capital enterprise or forming a joint-venture with domestic investor or company.

2. Certificate

• The Branch office needs to apply and obtain the operation license of a Branch;
• A foreign owned company will need to apply and obtain the investment certificate (“IC”) to operate in Vietnam.

3. Capital

• Optional, foreign entity will decide how much money to invest in branch. The allocation capital for branch is capital for the subordinate units.
• Mandatory, foreign entity will need to provide minimum capital as required by Vietnam Law in conditional investment area.

4. Obligation of owner

• For branch office in Vietnam, owner takes full responsibility;
• For company, owner takes responsibility within the capital contributed into the company in Vietnam;

5. Other matters

• For branch office setting up in Vietnam, the procedure is less complicated compared to those for the establishment of a 100% foreign owned company;  the branch office is able to carry out trading and some other activities as stipulated by Vietnam laws and the WTO commitments which Vietnam enters.  The business lines of a branch have to be aligned with the business lines of the headquarter of the foreign entity.
• Setting up foreign owned company would be more complicated than the setting up of the branch office, however this form of investment has more flexibility and freedom as it is a stand alone Vietnam entity recognized under Vietnam laws.

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HOW PATENT ATTORNEY IN VIETNAM COULD HELP?

At ANT Lawyers, we provide Patent attorneys in Vietnamwith specialized qualifications necessary for representing clients in obtaining patents and acting in all matters and procedures relating to patent law and practice in Vietnam.

The inventors may obtain a patent in Vietnam without the assistance of a patent lawyer if they wish. However, this is almost full of risks. Ignoring the complexity of filing the registration application, the primary concern is whether an inexperienced inventor can write an application which satisfies rules as the requirement of Vietnam Intellectual Property law.

It can be said that Vietnam intellectual property law and procedure on patent registration are complex. That’s why valuable legal rights can easily be lost if the patent application and prosecution of that application are not handled carefully and precisely by one skilled in such matters. Companies that file lots of patent applications use patent attorneys for a reason that you almost certainly will get a better patent if it is done by a patent attorney.

If the inventor does not work with a patent attorney, some of dangers may occur in registering patent in Vietnam as following:

• Failure in providing enough file for patent registration;
• Making inaccurate statement such as incorrect description;
• Wasting time because the documents is not valid;
• Loss of patent right because of other patents;
• Loss of capability on exploiting economic from patent right;

With the above – mentioned risks, patent registration in Vietnam with the assistance of the patent attorney seem to be an effective way to ensure the client’s right.  The patent attorney in Vietnam may help clients obtain patent quickly. The inventor also save time to focus on their core specialization if they use patent filing service.

The patent attorney assist clients as following:

• Advise about the procedure for registration prior submitting application;
• Compile all forms related to patent registration procedure;
• Prepare for registration dossier and conduct the registration;
• Subscribe to the application already filed and report to clients on the status of the application;
• Inform, advise and handle mission or refusal of Patent Agency;
• Get Patent and hand over to clients after receiving patent from patent Agency;
• Consult clients about the use of the invention, rights and obligations related to invention after successful registration.

All things become easy, convenient and safe if you get the assistance from a patent attorney in patent registration

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COSMETIC REGULATIONS IN VIETNAM 2015 WEBINAR

ANT Lawyers has teamed up with Chemlinked, a cosmetics portal to organize a Webminar on the topic of “Overview of Cosmetics Regulations in Vietnam 2015” on May 27th, 2015.

You could register to attend the Webminar free of charge here.

Mr Tuan Nguyen, an attorney at law of ANT Lawyers, a law firm in Vietnam will walk you through the regulations of cosmetics in Vietnam in general in the endeavor to comply with the ASEAN harmonized cosmetics regulatory scheme signed off since 2003, the regulations on cosmetics labeling, cosmetics proclamation, cosmetics advertising, and the considerations for setting up a trading company in Vietnam to import and place the cosmetic products on the market for sales.

For further information or advice, please contact ANT Lawyers, your lawyers in Vietnam via emailant@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.

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WHY FOREIGNERS FIND IT DIFFICULT TO PURCHASE PROPERTIES IN VIETNAM?

The policy to open up the real estate market allowing foreigners to enter Vietnam and make investment in Vietnam through purchasing property is expected to warm up the real estate market and boost up the economy.

Our real estate lawyers in Vietnam have always followed the changes in regulations to update client.  Officially, from July 1st, 2015 the amendment of Housing Law will come into effect. The new provisions about foreign ownership of houses in Vietnam are the highlights of the Housing Law 2014. In the Housing Law 2014, there is a separate chapter which state clearly about application subjects, requirements, rights and duties of foreigners who are allowed to buy houses in Vietnam. The application subjects have been extended compared to those in the old rules. The new regulations of Housing Law make the real estate market in Vietnam warm up.

When the Housing Law 2014 officially comes into effect, the decree which is expected to give guidance on implementation will be enacted. The regulation regarding buying houses by foreigners will be included in a specific documents having details instructions. According to the lawmakers, the Housing Law 2014 will have tighter guidelines in matters of real estate purchased by foreigners.

However to date, there is not any legal documents enacted to give instructions about the new provisions and about the Housing Law 2014 in general. According to Law on Promulgation of legal documents in 2008, the validity of legal documents is stated in the documents, but not fewer than 45 days from the day of enactment. This is a gap in Vietnam Law when the new Housing Law could not implement due to the lack of instructions and that the Resolution No. 19/2008 / QH12 about a pilot regulations on buying houses by foreign organizations and individuals has expired. Therefore, under the new rules, on July 1st, 2015 foreigners would not be able to buy house in Vietnam yet. This delay creates a legal gap and brings about difficulties and confusion.

 For advice or service request, please contact us via email ant@antlawyers.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 byIFLR1000 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.

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