The Legal Backbone: How Lawyers in Vietnam Boost Business Confidence

In the intricate landscape of international business, confidence is key. When it comes to doing business in Vietnam, a rapidly growing economy with immense potential, that confidence is solidified by having lawyers in Vietnam as your strategic partners. These legal professionals play a pivotal role in navigating the complexities of Vietnam’s legal system, ensuring compliance, mitigating risks, and ultimately boosting your business confidence to new heights.

How Lawyers in Vietnam Boost Confidence?

The Power of Legal Expertise

Vietnam’s business environment is teeming with opportunities, but it’s also layered with regulations, legal nuances, and cultural intricacies that can be perplexing for newcomers. This is where lawyers in Vietnam come into play. Their expertise not only provides legal insight but also acts as the backbone upon which your business can confidently grow.

Navigating Regulatory Maze

The regulatory landscape in Vietnam can be intricate, with laws that vary across industries and regions. Whether you’re establishing a new venture, expanding an existing one, or managing day-to-day operations, having lawyers who understand the legal intricacies can help you traverse the regulatory maze. They ensure your business operations are compliant, reducing the risk of legal complications that could undermine your growth.

Guiding Market Entry

Entering a new market requires a strategic approach. Lawyers in Vietnam can help you determine the optimal market entry strategy based on legal and regulatory considerations. From selecting the appropriate business structure to obtaining necessary licenses, permits, and approvals, these legal professionals serve as your guides in making informed decisions.

Contractual Clarity

Contracts are the bedrock of business transactions. Lawyers in Vietnam ensure that your contracts are drafted, negotiated, and executed meticulously. They safeguard your interests, outline rights and obligations clearly, and establish dispute resolution mechanisms. This level of contractual clarity fosters trust among business partners and clients, further boosting your confidence in negotiations.

Mitigating Risks

Risk is inherent in business, but proactive risk management is the hallmark of successful enterprises. Lawyers in Vietnam can identify potential legal pitfalls and design risk mitigation strategies that protect your business from unexpected challenges. By proactively addressing legal risks, you’re better prepared to navigate uncertainties that may arise.

Intellectual Property Protection

In a globalized world, intellectual property (IP) is a valuable asset. Lawyers in Vietnam with IP agent license can guide you through the process of registering and protecting your IP rights. From trademarks and patents to copyrights and trade secrets, they ensure that your intellectual property remains secure, bolstering your business’s competitive edge.

Crisis Management

In the face of unforeseen crises, having lawyers in Vietnam on your side can be invaluable. Whether it’s a contractual dispute, regulatory violation, or other legal challenges, they can provide swift and effective solutions to mitigate damages and uphold your reputation.

Cultivating Confidence Through Collaboration

The relationship between your business and lawyers in Vietnam is not just transactional; it’s a collaboration that fosters confidence. Here’s how this collaboration cultivates an environment of assurance:

Tailored Legal Strategies

Lawyers in Vietnam don’t offer one-size-fits-all solutions. They understand that each business is unique and requires customized legal strategies. By tailoring their advice and solutions to your specific needs, they empower you to make well-informed decisions.

Local Expertise

Navigating a foreign legal landscape requires local expertise. Lawyers in Vietnam possess an in-depth understanding of the local laws, regulations, and cultural nuances. This expertise ensures that your business operations align with the legal framework while respecting local customs.

Effective Communication

Legal jargon can be overwhelming, but lawyers in Vietnam excel at translating complex legal concepts into understandable terms. This transparent communication fosters a strong partnership, allowing you to comprehend the legal implications of your decisions.

Strategic Guidance

Beyond resolving legal matters, lawyers in Vietnam can provide strategic guidance that aligns with your business goals. Their insights go beyond legal implications, encompassing potential opportunities and challenges that impact your growth trajectory.

Risk-Aware Decision Making

A major advantage of collaborating with lawyers in Vietnam is their ability to facilitate risk-aware decision-making. They present you with a comprehensive view of potential legal risks, enabling you to assess the pros and cons before making critical choices.

The Ultimate Confidence Booster

In a rapidly evolving business landscape, confidence is the ultimate asset. It shapes how you approach negotiations, make investments, and navigate uncertainties. Lawyers in Vietnam act as the ultimate confidence booster by providing you with the legal foundation upon which you can build and thrive.

From startups looking to establish their presence to multinational corporations expanding their reach, the support of lawyers in Vietnam is indispensable. They bring legal acumen, cultural understanding, and strategic insights to the table, enabling you to navigate challenges with poise and seize opportunities with conviction.

The role of lawyers in Vietnam goes beyond legal representation; they are your partners in cultivating business confidence. By leveraging their expertise, you not only ensure legal compliance but also gain a deep sense of assurance that empowers you to make bold decisions.

In the vibrant tapestry of Vietnam’s business landscape, lawyers play a significant role in weaving the legal threads that strengthen your business’s foundation. They stand as guardians of legality, advocates of strategy, and partners in your pursuit of success. With lawyers in Vietnam by your side, you’re equipped to face challenges, capitalize on opportunities, and navigate the intricate journey of business expansion with unwavering confidence.

About ANT Lawyers, a law firm in Vietnam

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers has lawyers in Ho Chi Minh city, Hanoi, and Danang, and will help customers in doing business in Vietnam.

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Why Da Nang is a Place for Setting up Business?

Da Nang has been creating flexible policies, good environments attracting foreign investors setting up company in Da Nang, building factory, and developing service business.

Da Nang has great location

Da Nang is a social and economic center of central area of Vietnam with the role as the center of industry, trade and tourism and service. It is a seaport city, an important transport hub for the transit of domestic and international transportation. Presently, Da Nang has been rising as a comprehensive and sustainability developing city.

With the advantages of geographical location, people and nature, the leader of Da Nang is planning to build the city becoming a major tourist center of the country, developing tourism industry with entertainment centers and luxury resorts in Vietnam.

Da Nang simplifies administrative procedures

In practice, Da Nang has been reducing administrative procedures, creating favorable conditions for investors in obtaining certificate for investment. In the meantime, the city also supports investors understanding the information and maintaining direct dialogue mode with businesses leaders and managers in order to promptly assist any difficulties encountered by investors in the process of project implementation.

Da Nang’s leaders are famous in being proactive in providing the latest information about the law in investment, especially information on the process of changing investment certificate… to facilitate the investment plan of the investors whom are investing in Da Nang.

For investment projects in infrastructure construction using ODA capital, the city has been quickly implemented the land clearance and compensation in time to hand over the project site to the investors as planned.

Da Nang offers Eco-friendly environment

To ensure the tourism environment and sustainable development, the city focuses on attracting projects in high technology industry, supporting industry and services with high added value i.e. information technology, education, healthcare and logistics…, especially favouring clean and quality projects rather than large projects but are likely to cause environmental issues.

Along with economic development, Da Nang also has activities and measures for environmental protection by investing in building projects to protect and improve the environment such as: modernization the sewer and wastewater treatment system (JICA), building east-west economic corridor (ADB)… to ensure sustainable and long term development of the economy.

Da Nang maintains good social security

An important element for economic development is the local security. Da Nang has done a great job in maintaining public security in order to guarantee investors a stable and safe political, social environment for investors.

It can be seen that Da Nang converges suitable elements and really is a promising land for investors both domestic and international setting up company in Da Nang to invest in entertainment, real estate, tourism, IT, healthcare, education services.

How law firms in Da Nang could help investors in setting up company in Da Nang?

The investors would always be concerning about compliance in doing business in Vietnam. Law firms in Da Nang will have the benefits of understanding the local environment of business and regulatory. Using local law firms with expertise in and understanding of Da Nang city can be an asset to investors interested in setting up a company in Da Nang. Local lawyers in Da Nang, being part of the business community know the regulations, policies can draw on their experience from working in other companies to be sure that each investor is appropriately secure when set up business in Da Nang. Furthermore, when operating in a new city, going with a registered, established local lawyer in Da Nang gives continuity and stability when the client encounter legal situations or addressing disputes.

Readmore:https://lawyersindanangvietnam.blogspot.com/2023/08/why-da-nang-is-place-for-setting-up.html

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What Are Conditions to Clean Up Criminal Records?

Offenders who have completely served their penalties shall be given conditions to do business, live honestly and integrate with the community, and when they meet all the conditions prescribed by law, their conviction may be expunged and their criminal records will be cleaned. A person whose criminal record is removed is considered as having not been convicted. There are three cases of conviction expungement, including: Automatic conviction expungement; Conviction expungement under a Court’s decision; Special cases of conviction expungement.

Automatic conviction expungement applies to people convicted not for crimes of infringing upon national security and crimes of undermining peace, against humanity and war crimes when they have completed their main penalty, the probationary period of the suspended sentence, the person has served the additional penalty, other decisions of the judgment or has expired and does not commit any new crime during the periods specified below: (i) 01 year in case of a warning, fine, community sentence or suspended imprisonment; (ii) 02 years in case of imprisonment of up to 05 years; (iii) 03 years in case of imprisonment from over 05 years to 15 years; (iv) 05 years in case of imprisonment of over 15 years or commuted life imprisonment. A convict serving an additional punishment that is mandatory supervision, prohibition from residence, prohibition from holding certain positions, prohibition from doing certain jobs, deprivation of certain citizenship rights for a period longer than those specified in points (i), (ii), (iii) above, automatic conviction expungement shall be granted when he/she finishes serving the additional punishment.

Conviction expungement under a Court’s decision is applicable to persons convicted of crimes of infringing upon national security and crimes of undermining peace, against humanity and war crimes. The Court shall decide the conviction expungement of convict based on the nature of the crimes committed, the law-observing attitude, the convicted person’s labor attitude and the following conditions:

The Court shall grant conviction expungement if the convict, after serving the primary sentence or probation period as well as additional sentences and other decisions of the judgment, does not commit any new crime over the following periods: (i) 01 year in case of warning, community sentence, or suspended imprisonment; (ii) 03 years in case of imprisonment of up to 05 years; (iii) 05 years in case of imprisonment of between more than 5 years and 15 years; (iv) 07 years in case of imprisonment of more than 15 years, life imprisonment or death sentence that is commuted.

If the convict is serving an additional sentence which is mandatory supervision, prohibition from residence, or deprivation of certain citizenship rights for a longer period than that specified in points (i), (ii) above, conviction expungement shall be considered when he/she finishes serving the additional sentence.

If an application for conviction expungement is rejected for the first time, it may only be resubmitted after 01 year from the day on which it is rejected; if the application for conviction expungement is rejected for the second time, it may only be resubmitted after 02 years from the day on which it is rejected.

Where a convict shows remarkable improvements and has made reparation in an effort to atone for the crime and conviction expungement is requested by his/her employer or local authority, the court shall decide to grant conviction expungement if has served at least one third of the above period.

In order to be automatically expunge conviction or expunged conviction according to the decision of the Court, the convict must fully comply with the decisions in the judgment including the payment of court costs and not commit any new crime within the prescribed time limit. For special cases of conviction expungement, convict must have at least one-third of the time limit for conviction expungement according to regulations and the Court shall decide to expunge conviction at the request of agencies or organizations where the person works or the local government where the person resides.

The period after which a conviction may be expunged depends on the primary sentence. If the convict who has not had the conviction expunged commits a new crime which leads to a conviction under an effective judgment, the period after which the conviction may be expunged shall start over from the day on which the primary sentence has been served or the end of the probation period of the new judgment or from the deadline for execution of the new judgment. If the convict has committed more than one crime and one of which is automatically eligible for expungement, one of which is eligible for expungement under a court’s decision, the Court shall decide expungement pursuant to the prescribed time limit for conviction expungement under the Court’s decision.

A convicted corporate legal entity shall automatically have its conviction expunged if it does not commit any new criminal offence for 02 years from the day on which the primary punishments, additional punishments, other decisions of the judgment are served or from the expiration of the time limit for execution of the judgment.

Criminal record card can be obtained at authority to reveal the current criminal conviction situation or changes of situation of such conviction.

Readmore:https://antlawyers.vn/library/what-are-conditions-to-clean-up-criminal-records.html

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How to Invest, Do Business and Reside in Vietnam in 2022?

With economic opening policies, especially after the Covid-19 pandemic, Vietnam is an attractive destination for foreign investors. Accordingly, the number of foreign investors in Vietnam is constantly increasing. In order to create favorable conditions for individual investors with direct capital investment or representatives of foreign organizations investing in Vietnam to live, work, Vietnam has policies, suitable for each type of investor in being granted temporary residence cards in Vietnam.

Investors using visas, temporary residence cards under the investment category sponsored by foreign investment companies and with the temporary residence card symbol DT, are divided into three types of temporary residence cards as follows: (i) DT1 – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam with a contributed capital of VND 100 billion (USD 4.5 mil) or more or investing in industries, professions eligible for investment incentives, geographical areas with investment incentives decided by the Government; (ii) DT2 – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam with a contributed capital of between VND 50 billion (USD 2.3 mil) and under VND 100 billion or investing in industries, trades to encourage development investment decided by the Government; (iii) DT3 – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam with capital contribution from VND 03 billion (USD 136k) to less than VND 50 billion. Temporary residence cards with a specific term for investors and representatives of foreign organizations investing in Vietnam are as follows: Temporary residence cards with symbol DT1 have a term of not more than 10 years; Temporary residence card with symbol DT2 is valid for no more than 05 years; Temporary residence card with symbol DT3 is valid for no more than 03 years. In case foreign investors and representatives of foreign organizations investing in Vietnam with a contributed capital of less than VND 03 billion, they will not be granted a temporary residence card, instead they will apply for a signed visa DT4 which is valid for no more than 12 months.

The application file for applying for a temporary residence card to a foreign investor must be documents proving the status of the sponsoring agency, organization, individual; documents proving the relationship between the investor and the sponsoring agency, organization or individual; information of the sponsored investor; relevant document information to determine the type of temporary residence card issued to investors; and declarations in accordance with the law.

If foreign investors and representatives of foreign organizations investing in Vietnam wishing to stay in Vietnam, they need to apply for a temporary residence card according to the conditions, documents, procedures of Vietnamese law. It is important to consult with immigration law firm in Ho Chi Minh City, or in Hanoi, Da nang for effective solutions.

Readmore:https://antlawyers.vn/library/how-to-invest-do-business-and-reside-in-vietnam-in-2022.html

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What Foreign Investors Should Consider in Making Investment in Conditional Areas?

In the context of integration and globalization, the number of foreign investors whom wish to make investment and establish business in Vietnam has increased due to the attractiveness of the growing middle class population, availability of skilled resources, and Vietnam openness policies. To register a business in Vietnam, however, foreign investors must meet the requirements of Vietnam and international treaties to which Vietnam is a party.

Firstly, the field in which foreign investors wish to conduct business must not be on the list of industries that have been denied entry to the market for foreign investors or are prohibited from doing so under the Law on Investment.

Secondly, foreign investors may be restricted to the percentage of charter capital ownership in some economic organizations. For example, foreign investors ownership could only be up to 30% of charter capital of a commercial bank in Vietnam. Limiting the amount of charter capital is indirectly restricting the management and control rights of investors. Instead of freely making policies or decisions, foreign investors have to depend on other members of the company, namely domestic investors. The investors are suggested to consult with corporate lawyers in Vietnam or banking and finance lawyers in Vietnam for specific details in the specialized area like banking or finance.

Thirdly, foreign investors must consider the type of firm they want to register. A foreign insurance enterprise, for example, may operate in Vietnam as an insurance limited liability company or as a branch of a foreign non-life insurance enterprise. If the investor registers the establishment of an enterprise that is not under Vietnam law and the international treaties that Vietnam has signed, the application for registration is considered invalid. In addition, each type will also have certain limitations. For example, setting up a joint stock company might not be suitable for all investors. In the governance of a joint stock company, the decision-making process is complicated and time-consuming with different sequences and procedures.

Finally, the Vietnam law also have requirements on the legal status, financial status, and competence of investors in certain professions. To establish a company in Vietnam, foreign investors must meet all the prescribed conditions.

In conclusion, the foreign investors would need to undertake the legal research into the business it wish to register in Vietnam, and make strategic decision considering the legal and business requirements to maximize the benefits Vietnam would bring.

Readmore:https://antlawyers.vn/corporate-lawyers-in-vietnam/what-foreign-investors-should-consider-in-making-investment-in-conditional-areas.html

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What Are the Advantage of Foreign Investors in Setting up Business in Vietnam in 2023?

Located in an important position of Southeast Asia, Vietnam has a long coastline of more than 3,000 km. With a diverse geographical structure interspersed with mountainous, highland and coastal areas suitable for general economic zones, Vietnam has ideal conditions to develop the trade and tourism industries. When setting up business in Vietnam, investors can enjoy financial advantage such as corporate income tax, import and export tax and land finance incentives.

Incentives of taxes for setting up business in Vietnam

Incentives on corporate income tax: In recent years, Vietnam has gradually reduced the corporate tax rate (CIT). In the 2004-2008 period, CIT was 28%, in the 2009-2013 period it was 25%, from 2014 to 2015, 22% and from January 1, 2016 until now, 20%. In addition, the provision of high corporate income tax incentives for a number of key fields that need to be encouraged for investment has contributed to attracting investment, encouraging business, creating favorable conditions for enterprises to increase accumulation, increase investment in the economy, and promote growth, hence promoting investors in setting up company in Vietnam.

Import and export tax incentives: The 2016 Import and Export Tax Law has added regulations that high-tech enterprises, science-technology enterprises, science-technology organizations are exempted from import tax on raw materials, materials and components that cannot be produced domestically within 5 years from the date of commencement of production. There are also import and export tax incentives being applied such as:

(i) Exemption from import tax for goods imported for processing for foreign countries and when exporting and returning products to foreign parties, they are exempt from export tax;

(ii) Goods imported for processing that are exempted from tax, goods temporarily imported for re-export and goods being raw materials and supplies in service of the production of exported goods can be extended the tax payment time to 275 days from the date of filing the customs declaration; goods temporarily imported for re-export may be extended the tax payment time to 15 days from the expiration date;

(iii) Exemption from import tax on goods to create fixed assets for investment projects in areas of special investment encouragement, investment promotion fields and investment projects in the locality have difficult socio-economic conditions.

Incentives of land rent for setting up business in Vietnam

Incentives on land finance: Foreign enterprises investing in Vietnam can be applied adjusted reduce rate (%) calculating the general land rent from 1.5% to 1%. In addition, the State also stipulates the application of the land price adjustment coefficient in determining the land price to calculate the land rent, therefore, making Vietnam increasingly becoming a favourable destination to attract foreign investment and company establishment in Southeast Asia.

Benefits of development of legal system for setting up business in Vietnam

In addition, the development of a transparent and consistent investment legal system is increasingly becoming a good tool to promote foreign direct investment inflows into Vietnam in the spirit of the state ensuring the rights of the investors’ ownership, investment capital and other interests of foreign organizations and individuals, creating favorable conditions and simplifying procedures for such organizations and individuals to establish company in Vietnam.

Compared with the foreign investment laws of some countries in the region, the law on foreign investment in Vietnam is considered by the international public to be more open and attractive, for example applying the form of 100% foreign capital ownership, administrative procedures are simplified, non-discriminatory between Vietnamese enterprises and foreign-invested enterprises.

The law has been transforming in the direction of considering investment and business as the matters of enterprises and investors, which the investors have full authority to make decisions from investment projects to the formation and business of the enterprise and that the government only guides, creates an open legal environment, has favorable mechanisms and procedures, supervises and enforce the law.

About ANT Lawyers, a law firm in Vietnam

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers has attorneys in Hanoi, Ho Chi Minh and Danang, and will help customers conveniently setting up business in Vietnam and doing business in Vietnam.

Readmore:https://antlawyers.vn/library/what-are-the-advantage-of-foreign-investors-in-setting-up-business-in-vietnam.html

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How to Invest Through Acquisition – Advice from M&A Lawyers in Vietnam

With the international integration, more and more policies to attract foreign investment have been introduced by Vietnam government including the facilitation of M&A transaction. It has been proven efficient if the transaction get help from M&A lawyers in Vietnam but it is important the investors understand the ideas and process.

M&A or Direct Investment in Vietnam?

Besides the fact that the investor could invest through setting up a company in Vietnam, the investor could also enter Vietnam through making investment by buying shares in a company or acquire contributed capital in company operating in Vietnam which is also considered as merger and acquisition transaction.

Specifically, according to the provisions of the Law on Investment, foreign investor can invest in the form of capital contribution, share purchase, or acquisition of capital contributions from an economic organization. However, the investor must: satisfy market access conditions applied to foreign investors; ensure following national defense and security in accordance with the law; comply with regulations of the law on land and conditions for the receipt of land use rights and conditions for use of land on islands or border or coastal communes.

Unlike the case of investment in the establishment of an economic organization, the investment in the form of capital contribution, share purchase or purchase of contributed capital of an economic organization does not need to carry out investment registration procedures in Vietnam.

A foreign investor only shall follow procedures for registration of capital contribution or purchase of shares or stakes of a business organization prior to change of members or shareholders in one of the following cases:

(i) The purchase of capital contribution or shares increases the ownership ratio of the foreign investors in a company operating in the restricted investment business lines;

(ii) The capital contribution or purchase of shares or stakes results in a foreign investor or business organization specified in some points of the that cover the investors with investment over 50% of the charter capital of the business organization in the following cases: The holding of charter capital by the foreign investor is increased from less than or equal to 50% to over 50%; the holding of charter capital by the foreign investor is increased while such foreign investor is holding over 50% of the charter capital of the business organization.

(iii) The foreign investor that contributes capital, purchases shares or stakes of a business organization has a certificate of rights to use land on an island or in a border or coastal commune; in a coastal commune; in another area that affects national defense and security.

In addition to the above cases, the investor will carry out the procedures for changing shareholders or members in accordance with relevant laws when contributing capital, buying shares or buying contributed capital of economic organizations.

How risks could be minimized with the help of M&A Lawyers in Vietnam

Investing in a company in the form of capital contribution, share purchase, or capital contribution from economic organizations will help investors gain a number of benefits such as quick access to market, gaining customers’ trust, taking advantage of physical facilities, human resources, existing operating procedures, reducing the time to create a brand as well as reduce licensing procedures. However, investing in a company according to these methods also encounter some risks which the investors need to carry out strict legal due diligence by experience M&A lawyers in Vietnam, to check on the company’s compliance and validity of their licenses to mitigate risks. Further, the investor also needs to undertake financial due diligence and operational due diligence to safe guard the potential economic benefits.

Readmore:https://antlawyers.vn/library/how-to-invest-in-vietnam-through-ma.html

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