Purchasing shares from an individual in Vietnam

A purchaser of listed shares in a public joint stock company (Public JSC) from an individual selling such shares through his/her securities trading account does not need to verify the selling individual’s authority to sell the listed shares under the Law on Family and Marriage 2014 assuming that:

  • the listed shares are not the main sources of income of the selling individual and his/her spouse (if he/she is married); and
  • the purchaser is an innocent purchaser who does not know that the selling individual is married or that the selling individual does not have the authority to sell the listed shares under the Law on Family and Marriage 2014.

Investment Registration Certificates for Establishing a Branch of a Foreign Entity in Vietnam

Technically, except for branches in the banking, insurance, securities and oil and gas sectors, the Investment Law 2014 will apply to the establishment of a branch in Vietnam by a foreign entity. This is because:

  • under the Commercial Law 2005, a foreign business entity’s branch, a part of a foreign business entity in Vietnam, is established in Vietnam and conducts commercial activities in accordance with Vietnamese laws;
  • a Vietnamese branch of a foreign business is a form of economic entity as defined in Investment Law 2014; and
  • the investment procedures under Investment Law 2014 will apply to the establishment of economic entities in all sectors, excluding securities, credit institution, insurance business, and petroleum laws.

Decree 71/2017 - new corporate governance rules for public joint stock companies in Vietnam

Decree 71/2017 provides for a various corporate governance rules applicable to public joint stock companies in Vietnam. Decree 71/2017 takes effect from 1 August 2017. Below is a detailed comparison between Decree 71/2017 and the old corporate governance rules under Circular 121/2012 of the Ministry of Finance. This post is contributed by Ha Thanh Phuc and Nguyen Hang Nga, legal interns at Venture North Law.

Online publication of court’s judgments in Vietnam

In March 2017, the Supreme People’s Court has adopted Resolution No.03 on the publication of judgments and decisions via e-portals of the court (Resolution 03/2017). Recently, the Supreme People’s Court also issues an Official letter no. 144 dated 4 July 2017 to the people’s courts in all levels on implementation of Resolution 03/2017 (Official Letter 144/2017).

Previously, there are some judgments of judicial review or new trial procedure published on e-portal of the Supreme People’s Court. However, under Resolution 03/2017, from 1 July 2017, enforceable judgments and decisions of the people’s courts must be made available on the e-portal of the court (https://congbobanan.toaan.gov.vn/) within 30 days from the date on which such judgments and decisions take effect, except the following cases: