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

Thứ Hai, 1 tháng 8, 2016

LICENSE TO ORGANIZE INTERNATIONAL CONFERENCE FOR BUSINESS

The organizing of international conference or conference without international element must be approved by the competent state authority in accordance with law. The reason is that the conferences have to be managed by the authorities competent in terms of the contents of the conference, ensuring that no policies and laws are violated.

In this article the author would like to introduce the order and procedures for organizing international conference in Vietnam under the provisions of the current law of Vietnam.
International conference is a meeting activity with foreign element that is held in the form of a direct meeting on the territory of Vietnam, or held in the online form with at least one bridgehead is within the territorial of Vietnam. It includes:
– Conferences organized by Vietnam agencies and organizations with the foreign participation or sponsorship;
– Conferences organized by foreign agencies and organizations.
Under the provisions of the law of Vietnam, the competent authority that permit the organization of international conference is Prime Minister for the high-level international conference with participants are heads, officials, ministers or equivalent positions of countries, territories and international organizations; international conference with contents related to politics, security, defense, ethnic, religion, human right, border or within the range of state secrets. The heads of the central and local authorities have right to decide on the organization of international conferences that are not under the above cases and in accordance with the powers and responsibilities of their management.
In order to get the license to organize international conference, organizations have to follow the following procedures:
– Get written opinion of the management authority. The management authority has the responsibility to respond in writing within a period not exceeding 15 days from the date of receipt of the request.
– Have the report together with organizational scheme and submit to the heads of the competent authority for approval. The time limit for submission is at least 20 days before the expected organizing day. The scheme must specify:
+ The reason, name of organization, purpose of the conference;
+ Time and venue for conference organization; attractions, surveys (if any);
+ Form and technology of the conference organization (in the case of organizing online conference);
+ Contents, work programs and activities on the sidelines of conference;
+ Participants in the organization of conference: the Vietnam authorities, the foreign agencies, funding agencies (if any);
+ Participants: number and structure of participants, including Vietnam and foreign delegates;
+ Funds;
+ Written opinion of the concerned agencies and localities (if any).
– Conducting conference in accordance with programs and schemes that have been approved by the competent authorities; complying with the current regulations on spending and the financial settlement.
– Send a report summarizing the results of conference for heads of the competent authority that has approved the conference organization within 15 days after the end of the conference.


Finally, it is clear that Vietnam law has fairly tight regulations on the procedure to organize international conference, aimed at eliminating the spreading of unhealthy information, opposing the policy of the state, creating healthy media and culture environment.

Thứ Hai, 4 tháng 7, 2016

BLOOMBERG: M&A IN 2016 IN VIETNAM WILL HIT RECORD

According to Bloomberg, the mergers and acquisitions activity (M&A) in Vietnam will hit record since the foreign investors are very interested in the consumer sector – which is developing very fast.


The Institute of Mergers, Acquisitions and Alliances in Vietnam announced that the M&A activities related to Vietnam companies increased by 40% in 2015, reaching 4.3 billion USD and surpass the record of 4.2 billion USD in 2012.
Meanwhile, according to Baker & McKenzie and Duane Morris LLP,  M&A activities in Vietnam will grow strongly in 2016 after the implementation of free trade agreements (FTA) and the Investment Law is passed by the Government.
Foreign investors feel very exciting with the forecasted economic growth of 6.7% in 2016, the fastest growth in 9 years and the consumer market with 60% of customers are under 35 years old.
According to Bloomberg, Vietnam is having a lot of changes in the Law on Investment therefore the acquisition of companies in the country is took place faster and more transparent. Meanwhile, consumer spending also rose sharply. According to the forecast of Euromonitor, consumer spending will increase by 47% from now till 2019. Particularly the beer market will grow by 33% in the next period, reaching 4.8 billion liters, while the consumption of this product will decrease in Thailand. Moreover, the middle class in Vietnam will continue to expand their investment portfolio in the domestic market.
With these advantages, M&A activities in Vietnam in 2016 will be quite exciting. ANA Holdings Inc – owner of the Japan largest airlines has agreed to buy 8.8% stake in Vietnam Airlines with price of about 109 million USD. In March 2015, France’s Aeroports De Paris has expressed its intention to acquire stake in Airports Corporation of Vietnam.
In October 2015, the information about the divestment of the State at Vinamilk with 45% stake worth nearly 3 billion USD has led many foreign investors revealed their ambitions to buy the company with the largest listing in Vietnam market.
In late 2015, Boon Rawd Brewery Co., – the oldest brewing in Thailand has agreed to invest 1.1 billion VND in Masan Group – the biggest deal in the last 3 years in Vietnam.
Obviously, the investors who are interested in M&A in Vietnam are having a clearer path. With this trend, M&A will be more exciting in 2016.


If the Government continues to improve the investment environment then the foreign investment flows will continue to increase, especially in 2016 and 2017. Along with the advantages, Vietnam still has much to do to attract the flow of investment capital such as customs procedures, taxation and access to loans. The deeper and wider integration into the economy will offering Vietnam with more opportunities in M&A activity.

US INVESTORS SET UP BUSINESS IN HO CHI MINH CITY

United States (US) businesses are expecting to pour investment capital and set up business in Ho Chi Minh City(HCMC) in the near future, when Vietnam and the US are members of the Trans-Pacific Partnership agreement (TPP).

Statistics from the Department of Planning and Investment of HCMC showed that in 2015, the city has attracted 26 investment projects from the US with a total capital of approximately 135.4 million USD. In the first 2 months of 2016, the US has invested an additional of 4 new projects with total capitals of 1.56 million USD. It is forecasted that after TPP takes effect, the number will increase exponentially.
The industrial zones in HCMC are attracting the most investment within three years. Currently there are more than 300 projects worth more than 600 million USD. With the launching of TPP, the city hopes to receive a new wave of investment from US businesses. The efforts to reform the city’s administration procedures are creating favorable environment for US businesses to increases investment in HCMC.
According to the representative of the US Consulate in HCMC, diplomatic relation between Vietnam and the US is getting better, creating conditions and opportunities for US investors to come and set up business in HCMC. As recognized by the American Chamber of Commerce in Vietnam (Amcharm), businesses from the 2 countries feel very excited after exploring the investment environments of each other.
According to the Amcham’s representative, the promotion of the free trade agreements and especially TPP is bringing Vietnam and the US to the center of trade cooperation. It is reflected positively in 2015 with growth rate reached 45 billion USD in terms of sales, increased by 20% compared with 36 billion USD in 2013. Currently, Vietnam is also the leading countries in ASEAN on trade balance with the US when Vietnam accounting for 25% of export turnover of the area and this figure will continue to increase in 2020.
According to representatives of the Department of Planning – Investment in Ho Chi Minh City, Vietnam American investors to increase mainly in the field of real estate, banking, services, processing technology. This is a positive signal for bringing high-income jobs for local workers. The goal of the 2020 Vietnam brought exports to the US increased by 300 billion dollars.


According to representatives of the Department of Planning and Investment of Ho Chi Minh City, investment from the US to Vietnam increased mainly in the field of real estate, banking, services, processing technology. This is a positive signal because it brings high-income jobs for local workers. The goal of Vietnam is that till 2020, export turnover to the US will increase by 300 billion USD.

PATENT REGISTRATION PROCEDURES IN VIETNAM

ANT Lawyers is a patent law firm in Vietnam that can assist client in the patent registration process and other patent relating issues.


Time and procedures for patent registration:
+ The time for form evaluation: 01 months from the date of receipt;
+ The time to publish the application: 18 months from the priority date or the 2nd month after receiving the request for content evaluation;
+ The time for content evaluation: 12 months after receiving the request for content evaluation or the date of publication
+ The time for patent protection is 20 years, for the patent for utility solution is 10 years.
Profile includes:
+ Declaration (02 sheets according to form);
+ Description (02 sheets, including drawings, if any);
+ Request for protection (02 sheets);
+ Relevant documents (if any);
+ Receipt of fees and charges.
Patent registration requirements:
1.Organizations and individuals that meet the following conditions may register for patent:
+ The author created the patent by his efforts and expenses;
+ Organizations and individuals investing in fund and material for the author in the form of contract work, unless the parties have other agreements and that agreements are not contrary to the provisions of law;
+ The case that many organizations and individuals working together to create or invest to create the invention, that organizations and individuals all have the right to register for patent and the registration will be implemented only if all organizations and individuals agree;
+ The case that the invention was created by using the technical facilities and expenses from state budget:
+ The case that the invention was created on the basis of entire state investment funds and technical facilities, the patent registration right belongs to the State. Organizations and state agencies are empowered as investor, representing State to exercise the right to register for patent;
+ The case that the invention was created on the basis of State contributes capitals which are funds and technical facilities, part of the patent registration right corresponding to the proportion of capital contribution will belong to the State. Organizations and Government agencies that are representatives of the State capital will be responsible for implementing the State’s patent registration right;
+ The case that the invention was created on the basis of research and development collaboration between state organizations, agencies and other organizations, individuals, if the cooperation agreement has no other provisions, part of the patent registration right corresponding to the proportion of capital contribution will belong to the State. State organizations and agencies participating in the research and development process will be responsible for implementing the State’s patent registration right.
2. To be granted the patent registration, the applicant must meet the following requirements: new; creative and capable of industrial application.
3. To be granted the patent protection/utility solution, the applicant must meet the following requirements: new and capable of industrial application.

HOW TO SET-UP TRADING COMPANY IN VIETNAM

Investment in setting up trading company in Vietnam is considered as investment in conditional investment areas

Once an underdeveloped country, in the last two decades Vietnam has shown an incredible growth in the world economic scene, especially in the criteria of investment attraction. For a foreign company that is interested in expanding the business in a new country or region, Vietnam is a promising destination. In order to start a company or specifically a trading company in Vietnam, foreign investor should comprehensively understand the formality and function of the legal entity to be formed according to Vietnam Law. The consultancy and guidance of skilled and qualified lawyers in Vietnam law firm throughout the process shall mostly be needed.

Set-up Trading Company in Vietnam
The legal basis for a foreign company to set up a company in Vietnam is stated in the Enterprise Law of Vietnam: foreign organizations and individuals will be entitled to establish and manage enterprises in Vietnam in accordance with this law, with some exceptions.  Foreign investors may invest in the form of 100% foreign- owned capital to establish limited liability companies, joint-stock companies, partnerships or private enterprises under the provisions of the Enterprise Law and relevant laws.
The foreign investor shall mostly needs to fulfill the investment registration procedures at provincial-level state agencies in charge of investment in order to be granted the investment certificates, in accordance with Vietnam law in investment. The dossier required for the investment registration shall comprise of an examination dossier, papers showing the capability to satisfy the conditions which the project is required by law to satisfy, for investment projects in conditional investment domains i.e. specific goods to be traded at HS code level, experience in trading area, how the trading procedures would be carried out, potential business in Vietnam.
In particular, for investment capital, it should be noted that, trading company needs to commit larger investment in terms of capital, since its function is to identify competitive suppliers, negotiate and purchase their products and sell them through a distribution network in Vietnam. In the meantime, the investor needs to have experience in trading to run the business smoothly and efficiently. The investor should explain why the company would contribute to the development in Vietnam when applying for investment license at Department of Planning and Investment, and Ministry of Trade and Commerce.
Our lawyers of foreign investment practice at ANT Lawyers are available to advise and provide client with service and representation in Vietnam.

FORMS OF COMPANY TO BE SET-UP IN VIETNAM

According the Vietnam Law on Enterprises, there are four common types of companies:


  • Private enterprise is an enterprise owned by an individual who is liable for all of its operations with his/her entire property;
  • Partnership is an enterprise in which (i) there are at least two partners who are co-owners of the company, jointly conduct business under one common name; in addition to general partners, there may also be limited partners; (ii) general partners to a partnership must be individuals who are liable for all obligations of the partnership with his/her own entire property; (iii) Limited partners shall be liable for debts of the partnership only to the extent of their capital contribution to the partnership;
  • Joint stock company is an enterprise where (i) Its charter capital is divided into equal portions known as shares; (ii) Shareholders may be organizations and/or individuals; the minimum number of shareholders shall be three and shall not be restricted to any particular maximum number; (iii) Its shareholders shall be liable for debts and other property liabilities of such enterprise within the limit of the value of their capital contribution to the enterprise; (iv) Shareholders shall be entitled to freely transfer their shares according to the provisions of law;
  • Limited liability company (multi-member limited liability company and single-member limited liability company). A one-member limited liability company is an enterprise which is owned by one organization or individual (hereinafter referred to as the company owner); the company owner is liable for debts and other property liabilities of the company within the charter capital of the company. A limited liability company is an enterprise of which: (i) Members may be organizations and/or individuals; the total number of members shall not exceed fifty; (ii) Members are responsible for debts and other property liabilities of the enterprise within the amount of capital that they have committed to contribute to the enterprise; (iii) Capital shares of the members may only be transferred in accordance with the provisions of law.
Our lawyers of foreign investment practice at ANT Lawyers are available to advise and provide client with service and representation in Vietnam.  In order to seek further advice or request service to set up company in Hanoi or Ho Chi Minh City, please contact us at ant@antlawyers.vn or call + 84 912 817 823.

Thứ Năm, 23 tháng 6, 2016

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, building factory, and developing service business.


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.
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 clearance and compensation in time to hand over the project site to the investors as planned.
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.
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, to invest in entertainment, real estate, tourism, IT, healthcare, education services.
ANT Lawyers, a law firm in Vietnam offers clients legal service in Da Nang through our affiliate office located in Hoi An (covering Da Nang, Hoi An, Hue City), managed by an experienced corporate lawyers whom bring along extensive experience from leading law firms in Vietnam including Mayer Brown, handling a wide range of corporate and commercial matters with a particular emphasis on foreign investment, mergers and acquisitions and real estate; from planning, consultation to execution.