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: Merger & Acquisition
From 1 October 2015, foreign investors investing public companies and listed securities in Vietnam will be subject to a Circular 123/2015 issued in August 2015 replacing Circular 213/2012. The following are some key points of Circular 123/2015:
The Enterprise Law 2014 now seems to allow the charter of a Multiple LLC to provide for voting thresholds lower than the default thresholds (i.e. 65% for simple majority and 75% for supermajority). Under the Enterprise Law 2014, unless otherwise provided by the charter, a resolution of the Members’ Council of a multiple members limited liability company (Multiple LLC) will be approved in a meeting of the Members Council, if:
The Investment Law 2014 and the Enterprise Law 2014 will take effect very soon on 1 July 2015. However, the Government has not issued any implementing Decrees or Circulars which are necessary for the actual implementation of the Investment Law 2014 and the Enterprise Law 2014. This is unfortunate as the lack of proper implementing Decrees and Circulars may affect the operations of many companies and investors.
On 26 June 2015, the Government just issued Decree 60/2015 providing some amendments to the implementing regulations of the Securities Law 2006. Among the amendments, the most notable ones are about changes to foreign ownership limits in a public company in Vietnam. From 1 September 2015, these changes are as follows: