Welcome to VILAF

One of the first business law firms in Vietnam.

VILAF’s development is attributable to the contributions of its lawyers. From a small group of lawyers initially working with Clifford Chance in 2000, VILAF’s legal team has grown to 50 lawyers and legal experts. Many of our lawyers have been working with international law firms in Vietnam since the birth of Vietnamese investment law, and are recognized as the leading lawyers in Vietnam.

Being Vietnamese and with extensive international experience and working relationships with several international law firms, our lawyers are in the best position to advise our clients on local law and the practice of Vietnam. VILAF’s unique position provides the highest level of legal service to our clients.

Vietnamese authorities are in the process of finalising a draft law to amend several existing laws affecting investment and construction issues in Vietnam. The purpose of these proposed amendments are to improve investment conditions in Vietnam and to formulate policies that will help Vietnam survive the global economic crisis.

Some important regulatory requirements under Decision 121 include obtaining a trading code and opening an indirect investment capital account. This means that foreign investors who invest in securities (listed/unlisted or participate in securities auction) are required to obtain a trading code, to maintain a bank account inside Vietnam and to use money on that onshore account for securities investment.

Just two years since Vietnam's accession to the WTO, preparation for further and comprehensive reform in the country's telecommunications sector has been unveiled in the recently released draft law on telecommunications. The first notable point under this draft law is the reduction of state control in facilities-based operators except those considered of "special importance" to the entire national telecom networks, economy and considered a breakthrough in lifting market access limitations under Vietnam's current WTO commitments and telecom regulations, which only allow foreign investors to own 49% of the capital of such enterprises.

Tax is a hot topic in Vietnam at the moment with the unprecedented introduction of changes to three major tax laws effective from January 1, 2009, being the Corporate Income Tax, Value Added Tax and Personal Income Tax plus changes in how foreign contractors are to pay the CIT and VAT (Circular 134/2008/TT-BTC).  However, there have already been some amendments to these tax laws offering opportunities to assist enterprises and employees during the current difficult times (and now the new Special Sales Tax is effective from April 1, 2009.

VILAF – Hong Duc is honored to be the recipient of Internation Arch of Europe (IAE) Award for Quality and Excellence – Gold Category. This Award is presented to companies and organizations in different countries throughout the world that further their reputation and position by implementing and promoting quality and excellence.

With 50 experienced lawyers, many of whom are top lawyers in Vietnam (and many of whom are Fulbright alumni), VILAF is a leader in providing creative solutions to legal and business matters based on our in-depth understanding of the complexity and subtle nuances of Vietnam’s legal and business culture. VILAF is committed to continue the tradition of providing excellent legal services in a client-focused manner.