Reputable law firm in Vietnam

Reputable law firm in Vietnam

ANT Lawyers- A reputable law firm in Vietnam has English-speaking attorneys in Hanoi, Danang, and Ho Chi Minh City offices.

Our friendly, collegiate, and team-based working style is something we take great satisfaction in as a single, fully integrated, international partnership law practice in Vietnam.

We are a member of International Bar Association, Vietnam Bar Federation, Hanoi Bar Association.

ANT Lawyers is an Exclusive member in Vietnam of Prae Legal, a network of law firms with offices in 150 nations across 5 continents.

IFLR1000 assesses ANT Lawyers under Financial and Corporate. The boutique law practice specializes in corporate M&A and represents foreign clients and investors in a variety of domestic and international transactions, including joint ventures and restructuring.

We pride ourselves in our global recognition by the IFLR1000 on Financial and Corporate practice, our peers at Prae Legal's international standard, our local knowledge with our extensive network of Vietnamese authorities and local experts.

Our business approach is guided by customer needs and our goal of providing clients with high-quality legal assistance in a business environment.

Allow ANT Lawyers, a law firm in Vietnam assist you in conducting business in Vietnam.

Send us request via email at ant@antlawyers.vn or call us at +84 28 730 86 529 

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Languages in Arbitration Proceedings in Vietnam

 What are Languages in Arbitration Proceedings in Vietnam?

Article 10 of the Vietnam Law on Commercial Arbitration says that if both parties are Vietnamese, the language used in arbitration proceedings to settle a dispute is Vietnamese, or a language agreed upon by both parties if one of them is a foreign-owned business. Specifically:

Except for disputes in which at least one party is a foreign-invested enterprise, the language of arbitration is Vietnamese for disputes with no foreign component. A dispute party may employ an interpreter if it is unable to speak Vietnamese.

For questions including unfamiliar components or debates to which no less than one party is an unfamiliar contributed undertaking, the gatherings will agree on the language to be utilized in arbitral procedures. The arbitration council will decide on the language to be used in arbitration proceedings if they do not have such an agreement.

Arbitration lawyers in Vietnam can also help clients with a variety of issues, such as choosing an arbitrator, choosing the rules for the arbitration, choosing an ad hoc or institutional arbitration, choosing a location for the arbitration, and getting an arbitral award enforced.

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How does the Vietnam Labor Code regulate probation?

 How does the Vietnam Labor Code regulate probation?

Probation is an understanding between a representative and a business on a trial work in a specific timeframe as per the arrangements of regulation. Both the employer and the employee should go through a trial period before signing a labor contract to see if they can work together in the long run. The Labor Code and other relevant guidelines should be followed during the probation. The Labor Code 2019 comes into force as of January first, 2020, various new guidelines as needs be are given in association with the probation, which each organization ought to  review the matter with its labour dispute lawyers in Vietnam for compliance.

This contract does not apply to employment for less than one month, regardless of the circumstances under which it may be entered into. The probationary clause is not required to be included in the labor contract by the 2012 Labor Code. As a result, an employer and employee may negotiate the probation, as well as their respective rights and responsibilities during the probation period. If the parties are in agreement about the probation, they can sign a probation contract. On the off chance that the probation work meets the necessities, the business will finish up a work contract with the representative. It is clear from these provisions that a separate probationary contract between the employer and employee is required.

When the probation period is over and the employee satisfies the employer's recruitment requirements, the labor contract should be signed. As per the most recent arrangements in the Labor Code 2019, the business and the representative might settle on the probation expressed in the work contract or a different trial contract. If the labor contract includes a probationary period, the employer is obligated to continue carrying out the current agreement once the employee has met all of the requirements. In that case, a new labor contract must be signed.

Based on the nature and complexity of the job, the Labor Code decided how long the probation period had to be. For positions requiring a college degree or higher, the probationary period was previously limited to no more than 60 days. Currently, executives can extend their probationary period by up to 180 days. The owner of a sole proprietorship, the partner of a partnership company, the chairperson or member of the Board of Members, the President of a company, the President or member of the Board of Directors, the Director/General Director, or the holder of another managerial position prescribed in the company's charter (applicable to the enterprise without state capital) are examples of executives who play a significant part in the business and operation of the businesses.

The Labor Code 2019 made another change to the cancellation of probationary contracts, removing the restriction on the right to cancel. Consequently, during the probationary period, either party may terminate the labor contract or probationary contract without penalty or prior notice. On the other hand, if the probationary job does not meet the requirements that the employer and employee have agreed upon under the Labor Code 2012, the probation may be terminated.

The primary purpose of probationary periods is to determine whether an employee and employer are compatible at the outset of an employment relationship. To avoid a potential dispute in Vietnam, businesses as employers must have a clear understanding of the principles of entering into a labor contract and a probationary contract.

ANT Lawyers is an international law firm in Vietnam with English speaking lawyers, located in the business centers of Hanoi, Danang and Ho Chi Minh City with international standards, recognized by IFLR1000. We are Vietnam exclusive member of Prae Legal, an international law firm network, providing full ranges of legal services.

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Signing Deposit Contract in Sales and Purchase of Property

 Signing Deposit Contract in Sales and Purchase of Property

Because of the significant potential profits it could bring from the real estate transaction business, investing in real estate in Vietnam attracts a lot of attention from individuals and organizations. How real estate dispute lawyers in Vietnam could help and make the transaction more secured?

High profits often come with high risks

However, there is a saying that never goes wrong: Many investors would need to be aware that high profits frequently come with high risks. When it comes to real estate transactions, investors and buyers have lost a lot of money and lost valuable time as a result of long-term disputes and a lack of comprehension of the law's provisions and legal issues. Negligently signing contracts and agreements can increase disputes between buyers and sellers, but this risk can be mitigated with the assistance of dispute lawyers in Vietnam.

Advice from real estate dispute lawyers in Vietnam: sign deposit  when buying or selling property

A deposit is a guarantee for the sellers and buyers that the property sales and purchase transaction will be carried out according to the terms of the agreement before buying and selling a house.

In order to guarantee that the official real estate purchase and sale contract will be carried out in a reliable manner in the future, the seller and the buyer will sign a deposit contract at that time. In order to guarantee that the seller will not sell the property to another third party, the buyer (the deposit party) must use this form to make a cash deposit to the seller (the deposit recipient). At the end of the deposit period, the parties will sign a real estate purchase and sale contract.

Matters to concern when signing the contract that need the help from conveyance lawyers in Vietnam

When making a deposit transaction with the seller, it is necessary to take into consideration the following issues in order to minimize risks and maximize buyer interest protection:

Firstly

It is necessary to identify the individual or co-owner of the real estate. In order to avoid the possibility of the deposit contract being void, the owner of the real estate must be a person who has full civil act capacity when conducting transactions.

Secondly

The buyer must check the land's legal papers to make sure it can be transferred legally. These conditions are as follows: i) Possessing the certificate of right to use the land; ( ii) There are no disputes on the land; iii) the land use rights are not restricted in order to enforce a judgment; ( iv) falling under the category of land use.

To check and ensure that the land is fully eligible for the transfer of land use rights, the buyer should specifically request that the seller provide the original or a certified true copy of the certificate of land use rights, ownership of houses, and other assets attached to the land, as well as some pertinent information confirmed by a competent state agency.

In fact, even though the buyer has been given the aforementioned documents to check, there is still a chance that the seller will commit fraud in order to take the buyer's property if they knowingly provide fake documents. These are cases that have criminal characteristics and are frequently the result of organized, fraudulent organizations attempting to acquire substantial property values from a large number of people.

The buyer can determine the amount of the deposit based on the level of risk they are willing to take in the event that information about the land has not been verified by the appropriate authority by reviewing the land's legal documents. Naturally, this amount is subject to negotiation with the seller and must be agreed upon by both parties.

Thirdly

The deposit contract contains a number of specifics that the parties must keep in mind. Terms of the deposit penalty, the parties' rights and responsibilities, and the amount to be paid for notarizing the sales and purchase contract are all agreed upon by the parties.

At the point when the gatherings sign this agreement (in the severe legitimate term, it is an agreement for the exchange of land use privileges, responsibility for, and different resources connected to the land), they should bear expenses recommended by regulation, including legally approbation charge, enrollment expense, individual personal duty, other state charges caused during the time spent moving the name of the declaration of land utilize right, possession own homes and different resources joined to the land.

Consequently, the parties should specify, in accordance with the agreement, which party will bear these fees in the deposit contract. A fee for notarizing this contract will be incurred if the parties agree that the deposit contract must be notarized. Based on the deposit contract's value, this fee is listed in each notary office's notarization fee schedule. The deposit contract also specifies that the term of the deposit must be within a time frame that is appropriate to the actual circumstance. This guarantees that when the deposit period ends, the parties will sign a contract for the sale and purchase of the house.

Fourthly

The deposit contract is written according to the parties' agreement in terms of form. When buying or selling a house in Vietnam, the current law does not require the deposit contract to be notarized and authenticated. However, if the house has a high value, the parties may want to consider notarizing the deposit contract at the notary office where the land is located in accordance with legal requirements to ensure its legality and to avoid future conflicts and dangers.

To ensure efficiency when signing documents related to property transactions, buyers and sellers can seek legal advice from experts and real estate dispute lawyers in Vietnam for specific details.

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How Really does Debate Settlement System of WTO Work

 How Really does Debate Settlement System of WTO Work?

The dispute settlement procedures used by the World Trade Organization (WTO) are based on the GATT 1947 dispute settlement rules, which have been in place for nearly 50 years. Finding a positive solution to the dispute is the fundamental goal of this dispute resolution method. Because Vietnam is a member of the World Trade Organization, it may use the WTO's dispute settlement mechanism in disputes with other WTO members.

The parties to a dispute at the World Trade Organization (WTO) will first hold consultations to come up with a mutually agreed-upon solution to the dispute (Consultation – the stage of mediation). Third parties, who are members with a significant interest and desire to participate in the dispute resolution process, may participate in each case if they feel they have a significant interest in the case and should be considered by the panel. On account of a fruitless request, a board of 3 to 5 individuals will be laid out and entrusted with looking at a specific issue in debate based on WTO rules refered to by the petitioner's country.

According to Article 12.3 of the DSU, the first thing a panel to review the complaint must do is establish a timetable for its proceedings. The contents of Article 12 and Annex 3 of the DSU are typically covered by the panel procedure, which allows for some flexibility to guarantee the quality of the report without delaying the proceedings. The parties can be more proactive in presenting evidence, bases, and arguments in their submitted documents by understanding the contents and deadlines of a timetable.

The panel will enter the internal discussion phase (deliberation) following the hearings to evaluate the assessment of relevant legal and practical issues in accordance with WTO regulations. The deliberation must be kept secret. The parties to the dispute were not present when these reports were written; rather, they were written based solely on the information that was provided and the remarks that were made earlier. Individual assessments of hearers introduced in a board report will exclude the names of speakers of such sentiments.

Within two weeks of the panel's conclusion of the mid-term review, the final report will be sent to the dispute parties. Regularly, every report of the board has extremely huge substance, to work with the investigation of audit by the redrafting body and to cite case regulation, the report should show the chapter by chapter list and sections which are discrete numbered in the request for the report. After the DSB adopts a panel report, the dispute resolution process will immediately proceed to the implementation stage if there is no appeal. The case will be reviewed at the appellate level if there is an appeal.

As a member of the World Trade Organization, Vietnam must be well-versed in the dispute resolution process and fully prepared for disputes with other WTO members in international trade disputes.

ANT Lawyers have Litigation and Dispute lawyers in Hanoi, Da Nang and Ho Chi Minh City that help clients dealing with dispute resolution and alternative dispute resolution in Vietnam.

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The Ministry of Industry and Trade Applies Anti-dumping Measures to a Table and Chair Products from China

The Ministry of Industry and Trade Applies Anti-dumping Measures to a Table and Chair Products from China

On February 13^th, 2023, the Ministry of Industry and Trade issued Decision No. 235/QD-BCT on the application of official anti-dumping measures to a number of table and chair products from the People’s Republic of China (China) and terminated the investigation to apply anti-dumping measures on some furniture products from Malaysia. Accordingly, the official anti-dumping tax rate applied to the investigated goods originating from China is 21.4% for chair products and 35.2% for table products.

During the investigation of the case, in accordance with the provisions of the Law on Foreign Trade Management, the Ministry of Industry and Trade coordinated with relevant units to carefully review and evaluate the impact of the dumping of imported goods on the activities of the domestic industry, the level of dumping of the manufacturing and exporting enterprises of Malaysia and China.

The investigation results show that, although dumping behavior exists, because the rate of imported goods under investigation from Malaysia is insignificant (less than 3%), therefore, according to the provisions of the Law on Foreign Trade Management, the Ministry of Industry and Trade decided to terminate the investigation and not apply anti-dumping measures to some table and chair products from Malaysia.

For the investigated goods from China, the level of dumping was determined from 21.4% to 35.2%, and the import volume of the investigated goods increased both in absoluteness and comparative to the total domestic consumption and similar output of the domestic industry, which is the significant cause of significant damage to the domestic industry.

If Client needs any more information or request for legal advice or potential dispute regarding trade remedies measures including, anti-dumping, countervailing duty and safeguard measures or international trade dispute matters, our competition, anti-dumping, and countervailing duty lawyers of International trade and tax practice at ANT Lawyers, a law firm in Vietnam always follow up anti-dumping cases and their development to update clients on regular basis.

Source ANT Lawyers: https://antlawyers.vn/library/the-ministry-of-industry-and-trade-applies-anti-dumping-measures-to-a-table-and-chair-products-from-china.html

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How Probation is Regulated in Vietnam Labor Code?

 How Probation is Regulated in Vietnam Labor Code?

An agreement between an employee and employer for a probationary position for a predetermined amount of time in accordance with legal requirements is known as probation. Both the employer and the employee should go through a trial period before signing a labor contract to see if they can work together in the long run. The Labor Code and other relevant guidelines should be followed during the probation. The Labor Code 2019 comes into force as of January first, 2020, various new guidelines likewise are given in association with the probation, which each organization ought to audit the matter with labour dispute lawyers in Vietnam for compliance.

Concerning conditions which are allowed to go into a trial contract, this agreement isn't material to the work term which is under multi month. The Labor Code 2012 doesn't need that the trial arrangement should be specified in the work contract. As a result, an employer and employee may negotiate the probation, as well as their respective rights and responsibilities during the probation period. If the parties are in agreement about the probation, they can sign a probation contract. The employer is required to sign an employment contract with the employee if the probation work meets the requirements. It is clear from these provisions that a separate probationary contract between the employer and employee is required.

When the probation period is over and the employee satisfies the employer's recruitment requirements, the labor contract should be signed. Employer and employee may agree on a separate probationary contract or the probation that is outlined in the labor contract, as per the most recent provisions of the Labor Code for 2019. If the labor contract includes a probationary period, the employer is obligated to continue carrying out the current agreement once the employee has met all of the requirements. In that case, a new labor contract must be signed.

Based on the nature and complexity of the job, the Labor Code decided how long the probation period had to be. For positions requiring a college degree or higher, the probationary period was previously limited to no more than 60 days. Currently, executives can extend their probationary period by up to 180 days. The owner of a sole proprietorship, the partner of a partnership company, the chairperson or member of the Board of Members, the President of a company, the President or member of the Board of Directors, the Director/General Director, or the holder of another managerial position prescribed in the company's charter (applicable to the enterprise without state capital) are examples of executives who play a significant part in the business and operation of the businesses.

Another amendment to the cancellation of the probationary contract, the Labor Code 2019 removed the limitation of the right to cancel. Accordingly, during the probationary period, each party has the right to cancel the probationary contract or labor contract entered into without prior notice and compensation. On the contrary, the employee and the employer may cancel the probation if the probationary job does not meet the requirements that the parties have agreed upon under the Labor Code 2012.

The primary purpose of probationary periods is to determine whether an employee and employer are compatible at the outset of an employment relationship. To avoid a potential dispute in Vietnam, businesses as employers must have a clear understanding of the principles of entering into a labor contract and a probationary contract.

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When Arbitration Lawyers in Vietnam Could Settle a Dispute?

 When Arbitration Lawyers in Vietnam Could Settle a Dispute?

Under the Law on Business Mediation powerful Jan first, 2011, and other directions, on a basic level, discretion must be utilized in questions among parties that emerge from business exercises, debates among parties something like one of whom conducts business exercises, and different debates among parties which are specified by regulation to be settled by intervention in Vietnam. From drafting the arbitration agreement to resolving the arising dispute, an arbitration lawyers in Vietnam should be consulted.

Arbitral tribunals are entitled to resolve the disputes mentioned above if the concerned parties have a valid arbitration agreement agreed, before or after the dispute arises.

At the point when the court is mentioned to determine one of the debates of the above sorts which a legitimate discretion understanding exists, the court will look at records encased with the request to decide and in the event that the court observes that the question is under a mediation understanding and such assertion understanding is substantial the court will give a choice to end the settlement, return the request and reports.

The question will be dealt with by the court however it is under a discretion arrangement, except if generally concurred by the gatherings concerned or endorsed by regulation: the court gives a choice to dissolve the arbitral honor or the choice made by the arbitral council; or on the other hand there is a choice to suspend the arbitral council or mediation focus from settling questions; or on the other hand the mediation arrangement isn't suitable.

ANT Lawyers, a Vietnam-based law firm, will be available to help clients resolve disputes outside of court, in court, or through arbitration lawyers in Vietnam.

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What are the Arbitration Principles of Dispute Resolution?

 What are the Arbitration Principles of Dispute Resolution?

Arbitration, mediation, negotiation, and litigation are all methods of dispute resolution. For disputes to be resolved, a law firm in Vietnam needs dispute lawyers who have the expertise and experience necessary to resolve complex cross-border, commercial, and civil disputes.

The following principles must be followed when settling a dispute in arbitration, according to Article 4 of the Vietnam Law on Commercial Arbitration:

If the parties' agreement does not violate social ethics or prohibitions, arbitration lawyers must respect it.

Arbitrators must be independent, objective and impartial and shall observe law.

Parties in dispute have the same rights and responsibilities. The arbitration council is responsible for establishing the conditions necessary for disputing parties to exercise their rights and fulfill their responsibilities.

Dispute settlement by arbitration shall be conducted in private, unless otherwise agreed by the parties.

The arbitral awards are final.

Discretion has turned into a very famous technique for question goal, as numerous organizations lean toward it over the significant expenses of prosecution.

Arbitration lawyers in Vietnam may also be able to assist clients with a variety of issues, including choosing an arbitrator, choosing the rules for the arbitration, selecting an ad hoc or institutional arbitration, selecting a location for the arbitration, and obtaining the enforcement of the arbitral award.

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What is Value-added Tax Reduction Policy in 2022?

In order to stimulate growth and recover the economy after the impact of the Covid-19 pandemic, the Government has issued a policy to reduce value added tax. The reduction of value-added tax is an effective solution and tool to stimulate consumption and is expected to create a driving force for rapid development to help businesses restore business and production.

The value-added tax reduction policy has been promulgated by Decree 15/2022/ND-CP stipulating the tax exemption and reduction policy according to the National Assembly’s Resolution No. 43/2022/QH15 on fiscal and monetary policies currency to support the program of socio-economic recovery and development. Accordingly, value added tax will be reduced from 10% to 8%. This reduction will create conditions for consumers to increase spending, through which businesses will sell more products.

The value-added tax reduction will be applied to groups of goods and services currently subject to the 10% tax rate, except for the following groups of goods and services: (i) Telecommunications, financial and banking activities commodities, securities, insurance, real estate trading, metals and prefabricated metal products, mining products (excluding coal mining), coke, refined petroleum, chemical products; (ii) Products, goods and services subject to excise tax; (iii) Information technology under the law on information technology. However, if the goods and services are not subject to value-added tax or subject to value-added tax of 5% according to the provisions of the Law on Value-Added Tax, the provisions of the Law on Value-Added Tax shall be applied and not entitled to value added tax reduction.

It is important to note the value-added tax calculation method to apply. Accordingly, if the enterprise calculates value-added tax by the deduction method, the value-added tax rate of 8% shall apply; and in case the enterprise calculates value-added tax according to the percentage method on sales, collected, it will be reduced by 20% of the percentage rate for calculating value-added tax when issuing invoices for goods and services eligible for value-added tax reduction as prescribed.

The value-added tax reduction will be implemented quickly and businesses and consumers will immediately benefit. This tax reduction is expected to help reduce the cost of products and services, thereby stimulating consumer demand. Besides, it will help increase production output of enterprises and create more jobs for workers. Therefore, the reduction of value added tax is considered necessary solutions to promote the economy to recover soon after a long time affected by the pandemic.

The value-added tax reduction policy will be effective from February 1^st, 2022 to the end of December 31^st, 2022. Previously, value-added tax was only reduced for a few specific products, but with this policy, the object of tax reduction has been expanded in most fields of business and production. Therefore, the impact of this policy on the economy in the future is very large. However, in order for the value-added tax reduction to reach consumers, tax authorities need stricter inspection and control to meet the set goals. When in doubt, it is important to consult with tax lawyers in Vietnam for solutions and advice.

ANT Lawyers is a Law firm in Vietnam with international standards, recognized by Legal500, IFLR1000. We are an exclusive Vietnam member of Prea Legal, the global law firm network covering more than 150 juridictions. The firm provides a range of legal services as following to multinational and domestic clients.

Source ANTLawyers: https://antlawyers.vn/library/what-is-value-added-tax-reduction-policy-in-2022.html

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2023 Tax Filing Deadlines You Need to Know in Vietnam

According to the provisions of Vietnam tax law, on monthly or quarterly companies will need to submit various types of tax reports and tax returns: License fees; Value added tax declaration; Personal income tax return; Corporate income tax finalization declaration. Knowing the deadlines for submitting tax reports and paying taxes on time not only helps companies proactively capture information and arrange for tax payment in accordance with state regulations, but also avoids many risks. Risk of penalties for violations in the field of tax laws occur if the declaration is filed late, or not filed. Company also could hire professional specializing in tax matters or tax lawyers for advice in the area of tax compliance in Vietnam to improve the efficiency and optimize business strategies.

What is deadline for filing Vietnam annual license fee?

 Annual license fee is the amount the enterprise must pay annually based on the amount of charter capital stated on the certificate of business registration, and to be paid annually since the starting of the business. The company(except business households and business individuals) which has been newly established (including small and medium-sized enterprises converting from household businesses) or has established more dependent units, business locations has to file the license fee declaration dossiers no later than January 30^th of the following the year of establishment or starting of business activities, production and business activities. In case the enterprise has a change in charter capital during the year, the enterprise shall submit the license fee declaration dossier no later than January 30^th of the year following the year in which the changed information arises.

What is deadline for filing value added tax (VAT) in Vietnam?

 This is an indirect tax, calculated based on the added value of goods and services that consumers have to pay when buying goods or services. The person who directly fulfills the tax payment obligation to the tax authority will be an enterprise or a production unit. The deadline for submitting VAT declaration dossiers is the 20^th day of the month following the month in which the tax liability arises, for enterprises that declare and pay monthly; and the last day of the first month of the quarter following the quarter in which tax obligations arise for enterprises that declare and pay quarterly.

What is deadline for filing corporate income tax (CIT) in Vietnam?

Corporate income tax is a tax calculated based on the profit of an enterprise, which is a percentage of the positive result of revenue after deducting reasonable expenses i.e. cost of goods or services, rent, salary, travel,… as prescribed by the Law on Corporate Income Tax. For corporate income tax, enterprises will temporarily pay quarterly, and the deadline for tax payment is the 30^th day of the first month of the next quarter.

What is deadline for filing personal income tax (PIT) in Vietnam?

Personal income tax is a tax paid by a company on behalf of employees working at the company. Personal income tax is calculated on a monthly basis, and be declared monthly or quarterly and settled annually. If the enterprise declares and pays personal income tax on a monthly basis (in case the enterprise declares value added tax on a monthly basis and the payable personal income tax amount in the month of VND 50 million or more), the deadline of filing PIT is no later than the 20th day of the following month. If the enterprises declare and pay personal income tax quarterly (in case the enterprise declares value added tax quarterly or the enterprise declares value added tax on a monthly basis and the amount of personal income tax must be paid is less than 50 million dong in a month), the deadline for filing PIT is no later than the 30^th day of the next quarter.

It is important to file tax reports of all kinds on time but it is also equally important to manage the tax filing, and paying properly in a way that maximize the benefits of the company according to tax law taking advantage of deduction allowable by laws. Hence tax experts and tax lawyers could be consulted for advice on the regulations and tax laws in Vietnam.

ANT Lawyers, a law firm in Vietnam will always follow up with authorities for legal update on matters relevant to international trade and tax to update clients on regular basis.

You could learn more about ANT Lawyers International Trade and Tax or contact our International Trade Dispute Law Firm in Vietnam for advice via email ant@antlawyers.vn or call our office at +84 28 730 86 529 

Source ANT Lawyers: https://antlawyers.vn/library/tax-filing-deadlines-you-need-to-know-in-vietnam.html

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How Does the ASEAN Dispute Resolution Mechanism Work?

How Does the ASEAN Dispute Resolution Mechanism Work?

Having an efficient means of resolving disagreements that arise between member nations has become an essential requirement as economic cooperation has grown. As a result, ASEAN has been working on a Protocol on a Dispute Settlement Mechanism since 1996. On November 20, 1996, ASEAN Economic Ministers signed the Protocol in Manila (Philippines).

Dispute Settlement Mechanism of ASEAN

The spirit of negotiation and mediation is the foundation of ASEAN's dispute resolution system. Parties to the dispute in Member States have the option to select mediation methods at any time. These structures might start or end out of the blue. The complainant took the matter to the Senior Economic Officials Meeting of ASEAN (SEOM) only after the mediation process had ended. Mediation procedures will continue to apply while the dispute is ongoing if the parties to it agree.

The matter will be referred to SEOM if the consultation does not resolve the dispute within sixty (60) days of receipt. SEOM will either form a panel or, if that is not possible, send the matter to the special rules and procedures team or another group for evaluation. However, in some instances, SEOM may decide to settle the dispute without appointing a panel if deemed necessary.

Within thirty (30) days of the panel's submission of the report, SEOM will evaluate it during its discussion and make a decision regarding the dispute. SEOM may have an additional ten (10) days to resolve a dispute in exceptional circumstances. Parties to the dispute may be represented by SEOM representatives at the meeting, but they may not vote on SEOM decisions. SEOM will decide by majority vote.

Within thirty (30) days, parties to the dispute may appeal the SEOM's decisions to the ASEAN Economic Ministers (AEM). Within thirty (30) days of receiving the appeal, AEM must issue a decision. AEM may have an additional ten (10) days to resolve the dispute in exceptional circumstances.

ANT Lawyers have Litigation and Dispute lawyers in Hanoi, Da Nang and Ho Chi Minh City that help clients dealing with dispute resolution and alternative dispute resolution in Vietnam. 

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8 Important Steps Guide to Establish Company in Vietnam

It is possible for foreign investors to establish company in Vietnam. Foreign investors have the right to choose the appropriate forms of enterprise such as a limited liability company, joint stock company... with particular steps including:

Step 1: Register the investment project

Investors submit a registration file for an investment project to the business registration office of the province, city, or management board of an industrial, export processing, or high-tech zone for approval within 15 days (without additional time for clarification).

Step 2: Apply for Certificate of investment registration

Investors can apply for a business registration certificate in Vietnam by submitting a valid record to the Department of Planning and Investment within ten days of the investment project's approval.

Step 3: Apply for the certificate of business registration

After obtaining the business registration certificate, the investor shall submit the application for enterprise registration certificate to the enterprise registration office within 3 days.

Step 4: Publish the content of the business registration

Within 30 days of receiving the certificate of enterprise registration, the investor is required to disclose the following information about the company on the national enterprise registration portal:

i, Business lines;

ii, List of founding shareholders and shareholders being foreign investors for joint-stock companies.

Step 5: Registered business stamp

The form, quantity, and contents of the company's stamp are entirely up to the business. The following information must be displayed in the stamp's content:

-Company’s name;

-Business code.

After receiving the legal entity stamp and before using the business stamp, the enterprise must send a notice on the stamp of the enterprise to the business registration office for publication in the National Information Portal on the business registration.

Step 6: Notice of use of stamp:

Investors send notices on use of stamp forms to the Investment registration agency after getting a stamp. The Investment registration agency stamps samples of businesses, branches, and representative offices for businesses, publishes the business's notice on the National Business Information Portal, and issues a receipt for the business following receipt of the record.

Step 7: Open bank account:

Financial backers need to open two sorts of ledgers, to be specific the speculation capital record to get the venture sum and the exchange represent going through with everyday exchange in Vietnam.

Step 8: The post licensing procedures:

For the conditional business lines:

Investors investing in conditional business lines as defined in Appendix 4 of the Investment Law 2014 are required to have professional liability insurance, a certificate of business qualification, practicing certificates, and other documentation… prior to directing business in Vietnam. 

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