Vietnam Business Law is a website managed by lawyers of Venture North Law Limited (VNLaw). Venture North Law Limited (VNLaw) is a Vietnamese commercial law firm. We won the Rising Law Firm of the Year Award at the Southeast Asia Law Awards for the years 2020 and 2021 held by The Legal 500. Very few Vietnamese law firms have achieved a similar regional recognition.
Posted in: Corporate
The Government has recently issued Decree 116/2015 which includes certain amendments to Decree 59/2011 and Decree 189/2013 on equitisation of state-owned enterprises (SOEs). Decree 116/2015 took effect immediately upon signing on 11 November 2015. This shows certain urgency in the restructuring of SOEs in Vietnam. Decree 116/2015 covers the following:
After months of delay, the long-awaited Decree 118/2015 implementing the Investment Law 2014 was finally issued on 12 November 2015. Set out below are certain important points of Decree 118/2015:
Decree 78/2015 takes effect from 1 November 2015 and implements the Enterprise Law 2014 in terms of enterprise registration procedures. While for the most parts, Decree 78/2015 follows the existing enterprise regulations under Decree 43/2010, there are certain important changes:
Parties to (i) a transfer of capital in a limited liability company (LLC) or (ii) a transfer of shares by founding shareholder or foreign shareholder in a joint stock company (JSC) no longer need to submit “documents evidencing completion of the transfer” to the Business Registration Authority when applying for registration of the transfer. This is an important and positive change introduced by Decree 78/2015 on business registration which will take effect from 1 November 2015. In particular, Decree 78/2015 allows the parties to any of the above transfers to submit (i) the transfer contract or (ii) documents evidencing completion of the transfer.