ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

ANT Lawyers

Vietnam Law Firm with English Speaking Lawyers

Thứ Sáu, 18 tháng 8, 2017

Real estate enterprises face difficulties in starting up new projects

The number of property projects this year is much smaller than in 2016 due to numerous difficulties in starting up new projects, especially time-consuming administrative procedures and high land use charges, said Ngo Quang Phuc, vice chairman of the HCMC Real Estate Association (HoREA).

At a seminar “Solutions to promote the growth of the real estate market in the rest of 2017” in HCMC on August 16, Phuc, who is also deputy general director of Him Lam Land, said the real estate market has slowed down this year compared to two previous years.


The tightening of real estate credit has caused difficulties for investors. Besides, complicated administrative procedures are attributed to the slower growth of the sector.

This year, Him Lam Land will launch only one instead of three new projects as planned due to obstacles to procedures, Phuc added.

Nguyen Minh Khang, general director of LDG Investment Corporation, said it often takes 15 to 18 months to complete administrative procedures for a project excluding the time required for compensation and site clearance.

In addition, land use charge is another obstacle to developing a property project as it is unpredictable. LDG acquired a land lot for VND120 billion (US$5.27 million), but the land use charge paid to the State alone amounted to VND115 billion. It means that real estate enterprises have to pay a large amount of money to the State, thus causing prices of houses to skyrocket, said Khang.

Economic expert Dinh The Hien said the scarcity of land, site clearance difficulties and high land use charge in the city have caused the suspension of many projects.

Data of the HoREA shows that houses offered for sale in the first half of this year decreased compared to the year-ago period. The number of low-cost and high-end houses rose 1.9 and 1.8 times respectively while the number of houses in the mid-end segment went down by 42.1%. Some large investors in this segment had no houses to sell.

A decrease in speculation was also mentioned as a reason of the stagnant market. Enterprises investing in the low-cost segment are expected to gain sustainable development in the future.

Bui Quang Tin, another economic expert, said interest rates may go down in the five remaining months of this year as well as in the upcoming years, making life easier for those realty developers with access to credit.

At the seminar, Vu Van Phan, deputy head of the Housing and Real Estate Market Management Department under the Ministry of Construction, said the Standing Committee of the National Assembly has approved VND840 billion to build houses for policy people and VND1,160-billion loans to build social houses as stipulated in Decree 100.

The Vietnam Bank for Social Policies has also mobilized some VND1 trillion to develop social housing projects. A total of VND2 trillion will be disbursed this year to support enterprises and home buyers.

Source: The Saigon Times

ANT Lawyers is a law firm in Vietnam located in the business centers of Hanoi, Danang and Ho Chi Minh City.  We provide convenient access to our clients. Please contact us to book your time in advanced to let us provide our best service.

Call us at (+84) 24 32 23 27 71 or send us email ant@antlawyers.vn

Thứ Hai, 14 tháng 8, 2017

The procedure to setup a foreign investment enterprise in Vietnam

Investment Registration Certificate obtaining
Foreign investor who set up an investment project in Vietnam needs an investment registration certificate. In some case, you should need to register the investment project with provincial-level People’s Committees.

Dossiers: An investment project dossier must comprise a written proposal for implementation of the investment project; a copy of the establishment decision or an equivalent document certifying the legal status, for institutional investors; Proposals for the investment project, Proposals on land use or a copy of the site lease agreement or another document certifying that the investor has the rights to use the site used for project implementation
Recipient: Provincial-level Planning and Investment Departments of the localities where investors locate or intend to locate their head offices or executive offices to implement investment projects.
Period: Within 15-20 days (except weekend) from the day a complete dossier, the investment registration agency shall grant an investment registration certificate. In case of refusal, it shall issue a written reply clearly stating the reason to the investor.
Business Registration Certificate obtaining
After receiving the investment registration certificate, you could carry out the procedure to enterprise registration:
A complete dossier comprise document which is required under Decree 78/2015 of the Government according to the type of business should need to submit directly to the Business Registration Office which is affiliated to the Department of Planning and Investment of the province or online on https://dangkykinhdoanh.gov.vn/
Period:  within 03 working days after receiving a complete dossier.
Fee: After receiving the certificate of business registration, or confirmation of change of enterprise registration information in terms of business lines, founding shareholders, foreign shareholders, the enterprise shall pay a fee for publishing enterprise registration information
Company seal
Before using a seal design of an enterprise or its branch/representative office, the enterprise must send a notification to Business Registration Office of the province where the enterprise, branch, or representative office is situated in order to post the seal design on National Business Registration Portal.

Thứ Tư, 9 tháng 8, 2017

Procedures to Apply for Temporary Residence Card in Vietnam

For foreigners wishing to reside in Vietnam, they must belong to the subjects to be granted temporary residence card.  For most of the case, the temporary residence card holder are investors whom invest to establish company in Vietnam, or employee being employed and sponsored by an organization in Vietnam.

The following shall details the procedures to be implemented for applying for temporary residence card in Vietnam.
I. Subjects to be Granted Temporary Residence Card
  • Issued to members of diplomatic missions, consular offices, representative offices of international organizations affiliated to the UN, representative offices of intergovernmental organizations and their spouses, children under 18 years of age, and housemaids during their term of office. (NG3)
  • Issued to people who come to work with units affiliated to Vietnam’s Communist Party; the National Assembly, the government, Central Committee of Vietnamese Fatherland Front, the People’s Supreme Court, the People’s Supreme Procuracy, State Audit Agency, Ministries, ministerial agencies, Governmental agencies, the People’s Councils, the People’s Committees of provinces. (LV1)
  • Issued to people who come to work with socio-political organizations, social organizations, Vietnam Chamber of Commerce and Industry. (LV2)
  • Issued to foreign investors in Vietnam and foreign lawyers practicing in Vietnam. (DT)
  • Issued to Managers of representative offices or projects of international organizations and foreign non-governmental organizations in Vietnam. (NN1)
  • Issued to heads of representative offices, branches of foreign traders, representative offices of other foreign economic, cultural, professional organizations in Vietnam. (NN2)
  • Issued to people who come to study or serve internship. (DH)
  • Issued to journalists who have permanent residences in Vietnam. (PV1)
  • Issued to people who come to work. (LD)
  • Issued to foreigners that are parents, spouse, and children under 18 years of age of the foreigners issued with LV1, LV2, DT, NN1, NN2, UNIVERSITY, PV1, LD visas, or foreigners that are parents, spouse, and children of Vietnamese citizens. (TT)
II. Conditions for Implementation
  • Time to stay in Vietnam more than 01 year;
  • Valid passport more than 01 year;
  • In case of having a work permit, the work permit of the foreigner must be valid for 01 year from the date of the application for a temporary residence card. For investors, there must be written documents proving that foreigners contribute capital to, or invest in, enterprises in Vietnam (business registration certificates, investment licenses …).
III. Required Documents to Apply Temporary Residence Card
  • A written request of agencies, organizations and individuals offering, guarantee and propose for temporary residence card (form NA7)
  • 01 declaration of information of foreigners who apply for temporary residence, with photos and sealed by the agency or organization: A written request for temporary residence card (Form NA8); a declaration about Foreigners applying for temporary resident card (Form N7B)
  • Two 3 x4 cm size photographs;
  • Passport, valid visa, immigration cards (bring original for comparison);
  • Notice of use of the seal of the enterprise
  • 01 copies or photo (bring the original for comparison) proof of purpose to stay in Vietnam.
Depending on situations, the following documents would be required: investment licenses, permits the establishment of enterprises, work permit in Vietnam, certificate of board members and permits the establishment of representative offices, marriage/birth registration.
IV. Implementing Agencies to Apply Temporary Residence Card:
Immigration management Department, Police provinces and cities directly under the Central Government.
V. Duration to Obtain Temporary Residence Card in Vietnam: 05 to 07 days;

Thứ Hai, 7 tháng 8, 2017

Vietnam expects foreign investment to hit record $16 billion this year

Cheap labor continues to be a magnet for foreign investors.
Actual foreign direct investment flowing into Vietnam is forecast to rise to a record high this year as the country continues its efforts to improve the economic climate, an official has said.


Dang Huy Dong, deputy minister of Planning and Investment, was quoted as saying in a Bloomberg report that disbursed FDI will exceed $16 billion this year, and pledged investment will reach $28 billion.

“FDI growth is very impressive so far this year and we expect it to continue,” he said. The country received $15.8 billion of actual investment last year, which was up 9 percent from 2015, according to the ministry.

Dong said the government would continue to improve the business environment as it aims to draw more investment into areas including exports, energy and high-technology.

The fate of the Trans-Pacific Partnership, the biggest trade deal Vietnam has ever engaged in, is hanging in the balance following the U.S. withdrawal.

But Vietnam is shrugging off the uncertainty as its low wages and young workforce continue to play an effective investment magnet, Bloomberg said.

FDI inflow into Vietnam rose 6.5 percent in the first half of this year to $7.72 billion, according to figures from the ministry.

Pledges for new projects and additional investment were up nearly 55 percent on-year at $19.22 billion, with nearly half heading to the manufacturing and processing industries.

Vietnam’s Prime Minister Nguyen Xuan Phuc has established a board of experts, including economists from France, Japan, Singapore and the U.S., who will advise him on economic matters.

He also expressed support on Wednesday for a draft law that aims to double foreigners’ home ownership terms in Vietnam to 99 years in special economic zones.

The government has set an economic growth target of 6.7 percent for this year, one considered ambitious by many experts, especially after a relatively sluggish first six months. The IMF and HSBC have revised their growth forecasts for Vietnam down to 6.3 and 6 percent, respectively.

The central bank cut key policy interest rates for the first time in three years last month to spur growth.

Source: Vnexpress

ANT Lawyers, the law firm in Hanoi is located in the business center that provides convenient access to our clients.

ANT Lawyers works with corporate and individual clients from across the sectors and offers a true spectrum of legal expertise, both contentious and non-contentious. The range of our experience enables us to advise on various matters from the precedent-setting to the purely procedural.
Call us at (+84) 24 32 23 27 71 or send us email ant@antlawyers.vn

Thứ Sáu, 4 tháng 8, 2017

Conditions of Foreigner on Adoption in Vietnam

Nowadays, foreigners from other countries wish to adopt children in Vietnam and bring them up to his/her country for custody.  Vietnam in the meantime encourages the adoption for the better conditions on life environment, education system which would bring to the children when living with the new family.  However, the adoption conditions are still regulated strictly and its acceptance procedures are considered and controlled stringently by competent authorities of the Government.

ANT Lawyers will provide to you the regulated conditions of the adoptive parents need to be met as below:
I. GENERAL CONDITIONS OF THE ADOPTIVE PARENT:
The adoptive parent has to meet fully conditions as below for adoption:
  • Having full civil act capacity;
  • Being 20 years or more older than the adopted person;
  • Having health, financial and accommodation conditions for assuring the care for and nurture and education of the adopted child.
  • Having good ethical qualities.
And not being one these following cases:
  • Having some of the parental rights over a minor child restricted:
  • Currently serving an administrative handling decision at an educational institution or medical treatment establishment;
  • Currently serving an imprisonment penalty:
  • Having a criminal record of commission of any of the crimes: intentionally infringing upon another’s life, health, dignity and honor; maltreating or persecuting one’s grandparents, parents, spouse, children, grandchildren or caretaker; enticing or compelling a minor to violate the law or harboring a minor violator; trafficking in. fraudulently swapping or appropriating children, which has not been remitted yet.
II. CONDITIONS OF THE FOREIGNER ADOPTIVE PARENTS:
After meeting fully conditions above, Vietnamese living abroad, foreigners permanently living abroad will be entitled to adopt identified Vietnamese children if they fall into the following cases:
  • Being the step father or step mother of the to-be-adopted child;
  • Being natural aunt or uncle of the to-be-adopted child;
  • Having adopted a child who is a sibling of the to-be-adopted child;
  • Adopting a child who is disabled or infected with HIV/AIDS or another dangerous disease, including: children with cleft lip and cleft palate, children who are blinded with one or two eyes; mutism, deaf; dumb; children with curved arms or legs, children with missing fingers, hands, foot (feet), toes, children infected with HIV; children with heart diseases; children with navel, groin, belly hernia; children without an anus or sexual organ; children with blood disease; children with diseases requiring life-long treatment; children with other disabilities or dangerous disease which restricting the chances of adoption;
  • Being foreigners currently working or studying in Vietnam for at least 1 year.

ANT Lawyers in Vietnam is a law located in the business centers of Hanoi, Danang and Ho Chi Minh City.  We provide convenient access to our clients. Please contact us to book your time in advanced to let us provide our best service.

Call us at (+84) 24 32 23 27 71 or send us email ant@antlawyers.vn

Thứ Tư, 2 tháng 8, 2017

Investment flow into Phu Quoc Island remains strong

KIEN GIANG – The investment flow into Phu Quoc Island off Kien Giang Province has stayed strong, with nine projects worth around VND2.6 trillion approved in the first half of this year, said the Management Board of the Phu Quoc Economic Zone.
Apart from these nine projects, which cover 64.38 hectares in the island district, the board proposed the provincial government of Kien Giang to give approval in principle to 16 other projects which need 476 hectares of land.

The board also suggested the provincial government scrap two projects occupying 28.7 hectares of land, and adjust 21 investment registration certificates.
With the updated figures, Kien Giang had approved 197 projects capitalized at VND218 trillion (US$9.6 billion) on Phu Quoc Island as of June this year, according to a report on first-half socio-economic performance of a working group in charge of studying mechanisms and policies for development of the island.
There are 265 valid projects covering more than 10,500 hectares as of now, of which foreign investors have 26 projects worth US$290 million while domestic investors have 197 projects worth VND218 trillion that have either obtained investment certificates or approved in principle.
Thirty-one projects which have been up and running cover over 2,000 hectares and have combined capital of around VND49.5 trillion. Besides, 24 other projects which need more than 1,700 hectares and roughly VND46 trillion are under progress now.
The report says nearly 988,000 tourists visited the island in the six-month period, up a staggering 44.1% compared to the same period last year, and this met 54.2% of the full-year target. Notably, 198,820 international visitors came to the island, up 77.7%.
In regard to agriculture, local farmers harvested 1,245 tons of pepper, up 2.05% year-on-year. In addition, the total output of seafood in the period totaled more than 99,500 tons (up 27.4% year-on-year), 49.6% of the full-year target. As a result, local farmers earned an estimated VND1.77 trillion.
Meanwhile, the value of industrial production was estimated at around VND2.58 trillion, increasing 12.2% year-on-year and fulfilling 61.1% of the full-year target.
The working group of Phu Quoc has been working with the provincial government to finalize a proposal for the special administrative and economic zone on Phu Quoc Island.
The group has been working with the Ministry of Planning and Investment, related agencies, and Kien Giang Province to draft the Law on Special Administrative and Economic Units which will be submitted to the Prime Minister for consideration and the National Assembly for approval in the upcoming meeting.

Source: The Saigon Times

Thứ Ba, 25 tháng 7, 2017

Vietnam removes Hong Kong from steel dumping list

Vietnam has lifted anti-dumping duties on galvanized steel imports from Hong Kong, according to the Ministry of Industry and Trade, Lao Dong newspaper reports.

The ministry issued two decisions on anti-dumping measures, namely Decision 3584/QD-BCT dated September 1, 2016 on temporary anti-dumping duties and Decision 1105/QD-BCT dated March 30, 2017 on anti-dumping duties on galvanized steel imports from China (including Hong Kong) and South Korea.
After a review, the ministry issued Decision 2754/QD-BCT on July 20, 2017 amending Decision 3584 and Decision 1105. Vietnam now removes anti-dumping duties on galvanized steel imported from Hong Kong in line with the Decision 2754.

Source: The Saigon Times
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ANT Lawyers is a Vietnamese law firm in Vietnam with English speaking lawyers whom understand the laws of Vietnam within the business and the local culture context.
For advice or service request, please contact us via email ant@antlawyers.vn, or call (+84) 24 32 23 27 71.  To learn more about us, visit www.antlawyers.vn.