Newsletter no. 105

24-December-2003

Foreign investors are permitted to purchase shares or to set up joint venture companies in Vietnam for the purpose of doing the securities trading business in Vietnam. In addition, offshore investment fund management companies could also open a branch in Vietnam. The establishment of the said joint venture company and the branch in Vietnam is subject to a permit from the State Securities Commission.

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Newsletter no. 105

24-December-2003

Foreign investors are permitted to purchase shares or to set up joint venture companies in Vietnam for the purpose of doing the securities trading business in Vietnam. In addition, offshore investment fund management companies could also open a branch in Vietnam. The establishment of the said joint venture company and the branch in Vietnam is subject to a permit from the State Securities Commission.

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Newsletter no. 104

7-November-2003

Dividends paid by joint stock companies to foreign organisations shall not subject to corporate income tax. This corresponds with the common practice not to doubly tax dividends

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Newsletter no. 103

17-October-2003

Decree 105 limits the number of foreigners that an enterprise can employ. Specifically, an enterprise is permitted to employ foreigners at the maximum of 3 percent of its staff but not exceeding 50 foreigners.

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Newsletter no. 102

27-August-200

Mortgages over land use rights and property attached to the land could now be registered in Vietnam. The provincial Department of Natural Resources and Environment will take responsibility for registration of and provision of information on mortgages over land use rights and immovable properties if mortgagors and guarantors are organisations.

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Newsletter no. 101

4-July-2003

FIEs have the responsibility to (i) set up and publicize wages scales and payrolls, and (ii) register the wages scales and payrolls with the local Labour Department within one (01) month from the date of application.

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Newsletter no. 100

4-June-2003

Credit organisations may choose foreign organisations or individuals as a third party who shall guarantee the loan. A security agreement must be made in writing either as a separate document or as part of the credit agreement.

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Newsletter no. 99

25-April-2003

An equitised foreign invested company still organises and operates under the Foreign Investment Law until the receipt of an amendment to its investment licence approving the equitisation.

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Newsletter no. 98

21-March-2003
Vietnamese companies that want to sell shares to foreign investors must fall under a list of business areas published by the Government from time to time. Maximum shares of all foreign investors in a Vietnamese company is 30% of the registered/share capital of that Vietnamese company.

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