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.
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:
It is now possible to conduct a company search regarding foreign-invested companies in Vietnam via the website: http://fdi.dkkd.gov.vn/. Any interested person can search information about a foreign-invested enterprise incorporated under investment laws based on company’s name, investment licence’s number or name of the legal representative. The information available includes date of incorporation, name and address of the company, business lines, capital structures and details of the legal representative of the company.
The ability to sell unfinished construction works is important for real estate developers who do not have sufficient financing to complete the works. Unfortunately, there is no clear legal framework supporting such sale. This is because: