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.
Under the Bankruptcy Law 2014, technically, creditors of a bankrupt enterprise can complete procedures to liquidate the bankrupt enterprise without cooperation of the bankrupt enterprise. However, there may be certain difficulties in doing so. These difficulties include, among other things:
A land user who leases land from the Government with annual payment is not allowed to lease houses and building attached to the land unless such land user registers for real estate business under the Law on Real Estate Business 2014. At first, it seems quite illogical to limit the owner of an asset to lease it while still allow such asset to be sold. However, this is the position under the current land regulations. In particular,
Technically, a transfer of shares by foreign shareholders in an “Upcom” joint stock company will need to be notified to the Business Registration Authority. However, unlike a private joint stock company, there are several issues relating to such notification procedures for an Upcom company.
Among potential deviations from an Approved EIA, changes in scale, capacity and technology could be an arguable issue in any investment project because of the following: