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.
Below are key requirements and procedures for setting up a joint venture life insurance (JV) in form of a limited liability company (LLC) between a foreign insurer and a local partner. This post is contributed by Mai Chi, a VILAF trainee.
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:
The table below sets out the key regulatory steps for an institutional foreign investor (the Investor) to subscribe for new shares of a Vietnam listed commercial bank (the Bank) under a private placement. This assumes that the Investor will subscribe for from 5% to 20% of the Bank’s capital. The table below does not include such usual approvals as trading code or disclosures by the Bank or the Investor under securities regulations.