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;

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers have Attorneys in Hanoi, Attorneys in Ho Chi Minh and Attorneys in Danang.

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Three Difficulties in Applying Temporary Residence Card in Da Nang

      

In recent years, more and more foreigners are coming to live, work, study or to reside in Da Nang, therefore, many foreigners apply for Temporary residence card (TRC) for more convenience in Vietnam.

According to the regulation of Section 13, Article 3 of Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam, Temporary Residence Card (TRC)is a legal document issued by an immigration authority or a competent authority of the Ministry of Foreign Affairs to a foreigner who is permitted to reside in Vietnam for a certain period of time. This card has the same validity as a visa. Therefore, if the foreigners have TRC, they will reside and entry/exit Vietnam without applying for visa.

However, the process and procedures to apply for TRC would have many different practical applications in each province. Particularly in Da Nang, the issuance of temporary cards for foreigners is more challenging.

The first, for the issuance of a TRC, the foreigner must apply for suitable visa, the issuance of TRC is executed at the Immigration Department of the Da Nang City Public Security. The application for a visa in Da Nang is more complicated than in other provinces. It is necessary to have specific information relating to the operation and management of the enterprise which guarantee foreigner to enter Vietnam(if any). For the submission of dossiers to apply for the visa, the foreigner shave to submit by themselves or by the staff of their company. This makes it necessary for the foreigner or the sponsor have to spend the time to complete the procedure.

Secondly, after having a valid visa, the foreigners should apply the TRC at the Immigration Department of the Da Nang City Public Security. The dossiers for applying the TRC is regulated in the Article 37 of the Law on enter, exit, transit, and residence of foreigners in Vietnam. However, when applying for temporary residence cards in Da Nang, the Immigration Department could request more other relevant documents to the business, which is some time not found in the law, which poses challenges to applicant.

Thirdly, the granting of TRC to foreign investors, workers in Da Nang requires the confirmation of work permit exemption, work permits. The duration of the TRC issued will be valid for a period of two (2) years. As a result, for foreign investors, only have TRC with the validity term of 02 years are granted, instead of maximum 5 years, as provided for in Clause 2, Article 38 of the Immigration law. In order to be granted a TRC for a period of more than two years, the Immigration Department shall consider the business situation of the company, the tax payment status of the investor, etc. Therefore, if investors want to be granted TRC for more than 02 years, they need to work in Vietnam for a longer time and the business must be profitable.

With the above difficulties, many foreigners need to necessary attention, prepare all the documents as well as know about the term of TRC, in order to be able to prepare the best dossier. We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers have Law firm in Hanoi, law firm in Ho Chi Minh and Law firm in Danang.

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How to Set Up Company in Hanoi?

       

The Law on investment 2021 has a lot of investment incentive policies in economic sectors in Vietnam for foreign investors

Foreign investors that invest in Vietnam in general and Hanoi in particular for the first time must have investment projects and fill in investment registration or examination procedures at state agencies in charge of investment in order to be granted Investment Registration Certificates (“IRC”) and Enterprise Registration Certificate (“ERC”). Company with 100% foreign capital has founded and operated from the date of issuance of the investment certificate.

The investor who wishes to apply for IRC in Hanoi, s/he need to have a possible project which is accepted by the Government (The Department of Planning and Investment of Hanoi City). The dossier on applying for IRC

For Investment Registration Certificate, the investor must prepare the dossier included:

i) An application form for execution of the investment project, including a commitment to incur all costs and risks if the project is not approved;

ii) A document about the investor’s legal status;

iii) Document(s) proving the financial capacity of the investor including at least one of the following documents: the investor’s financial statements for the last two years; commitment of a parent company to provide financial support; commitment of a financial institution to provide financial support; guarantee for the investor’s financial capacity; other document proving the investor’s financial capacity;

iv) Proposal for the investment project including the following main contents: investor or method of investor selection, investment objectives, investment scale, investment capital and plan for raising capital, location, duration and schedule of the investment project, information about the current use of land in the location of the project and proposed demand for land use (if any), demand for labor, proposal for investment incentives, impact and socio – economic efficiency of the project and preliminary assessment of environmental impact (if any) in accordance with regulations of law on environmental protection.

If the law on construction requires formulation of a pre-feasibility study report, the investor is entitled to submit the pre-feasibility study report instead of a proposal for the investment project.

v) If the project does not require the State to allocate or lease out land or to permit land repurposing, a copy of the document regarding the land use rights or other document identifying the right to use the location for execution of the investment project is required to be submitted;

vi) Contents of the explanation for the technology to be used in the investment project if the project requires appraisal and collection of opinions on the technology in accordance with the Law on Technology Transfer;

vii) The business cooperation contract if the investment project is executed under a business cooperation contract;

viii) Other documents relating to the investment project, and requirements on the eligibility and capacity of the investor in accordance with regulations of law (if any).

After having the project, the investor needs to apply for Enterprise Registration Certificate, the dossier included:

i) An application for enterprise registration;

ii) The enterprise’s charter;

iii) A list of members of a limited liability company with two or more members or a list of general partners;

iv) A notarized copy of identity card or valid passport of individual member;

v) A notarized copy of the Enterprise Registration Certificate of the organization’s member;

vi) A notarized copy of valid identity card or passport of the organization’s legal representative;

vii) The copy of Investment Registration Certificate.

The time for applying the investment project is 15 working days and the time for applying the company is 03 working days after the date of submitting the valid dossier.

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers have Attorneys in Hanoi, Attorneys in Ho Chi Minh and Attorneys in Danang.

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Temporary Residence Card in Vietnam

       

If a foreigner have been sponsored work permit in Vietnam to work or he/she decides to set up a company in Vietnam, he/she could be granted temporary residence card in Vietnam to live in Vietnam instead of applying and re-newing business or travel visas every three months.

Procedures to prepare for temporary residence card in Vietnam

Subjects to be granted temporary residence card in Vietnam:

Members of foreign representative agencies and their accompanying relatives (father, mother, wife, husband, children under 18 years old).

Foreigners who work with the Institute of the Supreme People’s Procuracy, the Supreme People’s Court, the ministries, ministerial-level agencies, agencies attached to the Government and People’s Committees of provinces and cities directly under the Central Government and the Central offices of mass organizations, mass organizations.

Foreigners who work in projects already approved by competent state agencies licensed in Vietnam.

Foreigners who work with businesses in Vietnam has the work permit valued more than 01 year.

Persons on the payroll of foreign representative offices and branches of economic organization, culture and other professional organizations of foreign non-governmental organizations based in Vietnam.

Foreigners staying in Vietnam for other purposes.

The dossiers for application of temporary residence card in Vietnam:

A written request of agencies, organizations and individuals offering, guarantee and propose for temporary residence card;

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 N7A); a declaration about Foreigners applying for temporary resident card (Form N7B)

02 3 x4 cm size photographs;

01 copies of passport, valid visa, immigration cards (bring original for comparison);

01 copies or photo (bring the original for comparison) proof of purpose to stay in Vietnam.

As the case requires appropriate documents: 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.

Implementing agencies for temporary residence card in Vietnam:

Immigration management Department, Police provinces and cities directly under the Central Government.

Implementation time for temporary residence card in Vietnam:

05 to 07 days;

How immigration and employment lawyers in Vietnam could help?

It takes time to prepare the documents in the correct ways. We help the client saves time and cost by providing professional advice and representation. ANT Lawyers law firm is a law firm in Vietnam with offices in Hanoi, Da Nang and Ho Chi Minh city. Our immigration and employment lawyers in Vietnam help the client comply with the laws while doing business in Vietnam.

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Why Client Should Retain Real Estate Lawyers in Vietnam?

        

Laws on land is complicated in Vietnam

Due to changes in law attracting foreigners to come to live, and invest in Vietnam, foreigners have growing interest in investment and acquiring real estate. However, as real estate is valuable assets, the law on real estate ownership and real estate transactions are complicated, especially for foreigners. It is important to engage real estate lawyers in Vietnam for advice and representation.

People can not own land in Vietnam

Under the land ownership regime in Vietnam, land belongs to the entire people with the State acting as the owner’s representative and uniformly managing land. Hence, in Vietnam, the land users will have the land use right without the private ownership of the land. Land law 2013 does not allow foreigner to have land use rights in Vietnam. It only allows foreign invested enterprises to be permitted to use land through the form of land allocation or lease.

Although foreigner do not have land use rights in Vietnam, they are allowed to own houses in Vietnam under the Law on Housing. In addition, the Law on Real Estate Business has certain limitations for foreign investors to conduct real estate business in Vietnam and must meet the legal requirements.

Foreign investors investing in Vietnam wish to use the land to conduct business activities, or intend to conduct real estate business in Vietnam, or simply a foreigner wishing to purchase and own real estate in Vietnam should be aware of the legal provisions on conditions of implementation, orders and procedures to of the transactions to minimize risks. The assistance of the lawyers on real estate in Vietnam shall be worthwhile.

How real estate lawyers in Vietnam could help?

Real estate lawyers in Vietnam would have in-depth knowledge of the Land Law, Law on Housing, Law on Real Estate Business and related regulations. In addition, they would have practical experience in implementing legal procedures, handling disputes, and supporting real estate transactions in Vietnam. The real estate lawyers could explain the restrictions on land use rights of foreign organizations and individuals in Vietnam and the conditions for conducting business in real estate in Vietnam. The lawyers at request could assist the foreigners with the process and procedures to work with state agencies to obtain land use rights for enterprise and home ownership rights for individual more effectively.

When conducting transactions related to real estate such as buying, selling, transferring, renting, leasing, real estate lawyers in Vietnam could also provide assistance in in legal due diligence of the real estate to minimize legal risk to clients. It is important to evaluate the legal status of the property, the owner of property, whether property is in dispute, or subject to additional requirements of government before being sold by the developer and the people eligible for entering into the transaction. In addition, the lawyers in Vietnam can advise clients to draft or review the agreements, sales contract as well as the process to legalize the process to comply with the law in Vietnam.

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How To Enter Vietnam Legally with Visas and Temporary Residence Card

Foreign visitors have been to Vietnam for purposes to visit friends, family members, travel, or work.

As Vietnam has become more attractive for economic investment and tourism destinations, more and more have been seeking to enter Vietnam for work purpose, and leisure purpose. It is important that travelers have suitable visas and entrance cards, and follow the laws. Failing to follow the law on immigration would result in blacklist, deportation creating unnecessary hassles, especially for business men seeking investment in Vietnam.

ANT Lawyers has assisted a number of clients with immigration matters due to overstaying time as prescribed on visas, being black-listed due to failing to adhere to regulations of work permits and have learnt that in many cases the client do not have full understanding of consequence of obeying the immigration laws in Vietnam.

On Jun 30th, 2016, the Ministry of Foreign Affairs has issued the Cicular No: 04/2016/TT-BNG details Vietnam regulation on entry, exit, transit and residence of foreigners in Vietnam that layouts process and procedures in regard to applying for Visas, Temporary Residence Card to enter and stay in Vietnam legally for the right purpose.

Pursuant to the Law on Entry, Exit, Transit and Residence by foreigners in Vietnam dated June 16, 2014;

Pursuant to the Law on issue of legislative documents dated June 03, 2008;

Pursuant to the Government’s Decree No.58/2013/ND-CP defining the functions, responsibilities, entitlements and organizational structure of the Ministry of Foreign Affairs

Pursuant to the Government’s Decree No. 64/2015/ND-CP dated August 06, 2015 on cooperation among Ministries, Ministerial-level agencies, People’s Committees of provinces and centrally-affiliated provinces (hereinafter refer to as “province”) in management of entry, exit, transit and residence by foreigners in Vietnam;

The Minister of Foreign Affairs hereby issues this Circular providing guideline for procedures for issue of visa and temporary residence cards, and extension of temporary residence permit to foreigners in Vietnam within the jurisdiction of the Ministry of Foreign Affairs.

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Vietnam Temporary Residence Card for Foreigner

   

Under the provision of the Law on entry, exit, transit and residence of foreigner in Vietnam, temporary residence card is paper issued by the immigration management agency or the competent authorities under the Ministry of Foreign Affairs for foreigner. Accordingly, foreigner is allowed to reside for a definite time in Vietnam and the temporary residence card can replace visa.

The cases that are eligible for temporary residence card granting:

-Foreigners who are members of diplomatic representative missions, consular offices, representative missions of international organizations under the United Nations, intergovernmental organization in Vietnam and spouse, child under 18 years old and maid are granted the temporary residence card with symbol NG3.

-Foreigners who are granted visa with the symbol LV1, LV2, ĐT, NN1, NN2, DH, PV1, LĐ, TT shall be granted temporary residence cards with similar symbols with the symbols in their visas

In which the meaning of the symbols in the visa is understood as follows:

-LV1: Issued to person coming to Vietnam to work with departments, units and agencies directly under the central of the Communist Party of Vietnam; The National Assembly, the Government, the Central Committee of the Vietnam Fatherland, the Supreme People’s Court, the Supreme People’s Procuracy, State Audit, ministries, ministerial-level agencies, agencies attached to the Government; Provincial Committees, Party Committees, People’s Councils, People’s Committees of provinces and cities under the Central Government.

-LV2: Issued to person coming to Vietnam to work with the political – social organizations, social organizations, Vietnam Chamber of Commerce and Industry.

-ĐT: Issued to foreign investors in Vietnam and foreign lawyers practicing in Vietnam.

-NN1: Issued to person who is the head of the representative office, project of international organizations and international non-governmental organizations in Vietnam.

-NN2: Issued to the head of the representative office or branches of foreign business entity, representative offices of economic, culture and other professional organizations of foreign countries in Vietnam.

-NN3: Issued to person coming to Vietnam to work with foreign non-governmental organizations, representative offices or branches of foreign business entities, representative offices of economic, culture and other specialized organizations of foreign country in Vietnam.

-TT: Issued to foreigners who are spouses, children under 18 years of foreigners that are granted visa with symbols LV1, LV2, ĐT, NN1, NN2, DH, PV1, LĐ or foreigners who are parents, spouses and children of Vietnam citizen.

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers have law firm in Hanoi, law firm in Ho Chi Minh City and law firm in Da Nang.

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Legal Regulations in Purchasing Real Estate for Foreigners in Vietnam

    

Vietnam has become a better place for foreigners to visiting and staying. Many chose Vietnam as home and they come to Ho Chi Minh City, Ha Noi, Da Nang, Phu Quoc, Nha Trang… to buy real estates for living. Many foreigners consider seeking understanding and with the advisory of their real estate lawyers in Vietnam to purchase the property under their name for best interest protection. There are a number of foreigners seek to cooperate with local Vietnamese under investment agreement to invest in properties. It has always been suggested the buyer or investor to receive legal advice from real estate lawyers and law firms in Vietnam before committing the investment to a certain extent.

According to the Law on housing 2005, foreign organizations and individuals investing in construction of houses for sale and lease in Vietnam have the right to own the houses in Vietnam. However, according to the provisions of the Law on housing 2014, the house owners expand and include foreigners being investors building the houses under investor projects, foreign organizations operating in Vietnam and foreign individuals being allowed to enter Vietnam under the provisions of the Law on Entry, Exit, Transit and Residence of Foreigners in Vietnam; and are not entitled to diplomatic privileges and immunities.

Under the provisions of the Law on housing 2014, foreign organizations and individuals are allowed to own apartments, individual houses (villas and townhouses) in commercial housing projects. The total number of foreign individuals/organizations owned does not exceed 30% of an apartment building or does not exceed 10% or 250 houses of a housing project. Foreign individuals may own houses for up to 50 years and are allowed to extend for no more than 50 years. Foreign organizations own the houses according to the time limit on the Investment Registration Certificate and the extension period. During the time of owning the houses, foreign individuals are allowed to sublease, but foreign organizations are not allowed to sublease the houses.

For foreign individuals/organizations, when buying the houses in Vietnam, it is necessary to have a well drafted sales contract for purchase and sale of the houses because all rights and obligations related to the purchase, sales and ownership of houses are regulated in the contract. Therefore, the buyer should consider the contract carefully, usually with the help of real estate lawyers whom understand Vietnam laws before signing, in order to protect their legitimate rights and interests.

The foreigner when buying and selling the houses, especially off-plan house, need to also pay attention to the regulations on payment schedule in the contract. According to Article 57 of the Law on housing 2015, the payment in the purchase, sales, lease sales of the off-plan real estate in Vietnam is carried out in installments, and the first time must not exceed 30% of the contract value, the next times must be in accordance with the construction schedule, however, not exceeding 50% of the contract value when not handed over when the buyer is an enterprise with foreign investment, not exceeding 70% the value of contract, if the buyer is the foreigner individual the payment is not exceed 50% the value of the contract before handing over the house to the buyer. Until the buyer is issued with a certificate of land use right, ownership of houses and other assets attached to the land, the buyer shall pay no more than 95% the value of contract.

Foreigners in Vietnam need to be assisted to be familiar with the laws relating to the purchase and sale of real estate in order to protect their legitimate rights and interests when participating in transactions in Vietnam. It is important that the foreigners consider using the services of law firm in Vietnam specializing in real estate to advise and help manage the transaction.

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers have attorneys in Hanoi, Ho Chi Minh and Danang.

Readmore:https://antlawyers.vn/library/legal-regulations-in-purchasing-real-estate-in-for-foreigners-in-vietnam.html

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How Foreigners Could Buy Real Estate in Vietnam?

     

Can foreigners buy real estate in Vietnam?

Regulations on foreigners whom wish to buy real estate in Vietnam are regulated in Civil Code, Law on Land, Law on Housing, and other on decrees that guide the Law on Housing and related documents.

Can foreigners buy land in Vietnam?

For land, foreign individuals are not eligible to use land assigned or leased by the State, recognized land use rights, received transfer of land use rights. However, a foreign-invested enterprise could be allocated or leased land by the State, recognized land use rights, or received a land use right transfer. Foreign-invested enterprises that are assigned land by the State with the collection of land use levies to execute investment projects on the construction of houses for sale or for sale in combination with lease.

Can foreigners buy houses in Vietnam? or can foreigner buy apartments in Vietnam?

For housing, foreign entities eligible for the homeownership in Vietnam include: foreign entities who invest in project-based housing construction in Vietnam as prescribed in this Law and corresponding regulations of law; foreign-invested enterprises, branches, representative offices of foreign enterprises, foreign-invested funds and branches of foreign banks operating in Vietnam (hereinafter referred to as foreign organization); foreign individuals who are allowed to enter Vietnam.

The foreign entities are eligible for the homeownership in Vietnam if they invest in project-based housing construction in Vietnam as prescribed in this Law and corresponding regulations of law; or buy, rent and purchase, receive, or inherit commercial housing including apartments and separate houses in the project for housing construction, except for areas under management relating to national defense and security as prescribed in regulations of the Government.

What conditions to meet when foreigners buy real estate in Vietnam?

Foreign organizations and individuals must have documents proving being the eligible subjects and meeting conditions to own houses in Vietnam. A foreign individual must have an unexpired passport bearing the entry seal of the Vietnam’s immigration authority and not given diplomatic immunity and privileges according to Ordinance on diplomatic immunity and privileges of diplomatic missions, consular offices, and representative authorities of international organizations in Vietnam. Foreign organizations must be subjects of owning houses in Vietnam which have investment registration certificate or a permission issued by a Vietnam’s competent authority for operation in Vietnam which is still unexpired at the time of housing transaction (hereinafter referred to as investment registration certificate).

A foreign entity shall not be granted a Certificate of the house and may only sell or offer it to another entity eligible to own housing in Vietnam in the case being: a foreign organization or individual receives a house as an inheritance or a gift which is located in an area in which foreign entities must not own houses, or the quantity of which exceeds the permissible limits; a foreign organization that does not operate in Vietnam, or a foreign individual who is not permitted to enter Vietnam, receives a house in Vietnam as a gift or an inheritance.

For specific situations, to avoid future dispute in house ownership arisen from the purchase, lease of property, house, land from the state, developer or other seller, or lessor it is important that the client check with dispute property lawyers in Vietnam for eligibility, conditions and other relevant matters.

How real estate lawyers in Vietnam could help client to buy real estate in Vietnam?

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest protection, risk mitigation and regulatory compliance.

Readmore:https://antlawyers.vn/update/how-foreigners-could-buy-real-estate-in-vietnam.html

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What Are New in Real Estate Trading Business From 2021?

      

The Law on Investment 2020 takes effect from January 1, 2021 with many new highlights, including the amendment of conditions for real estate business in the Law on Real Estate Trading 2014.

Specifically, amending regulations on real estate business conditions in the Law on Real Estate Trading 2014 as follows: “Any organizations and individuals trading in real estate must set up enterprises or cooperatives (hereinafter referred to as an enterprise), except for the case specified in Clause 2 of this Article. ”

Clause 1, Article 10 of the 2014 Law on Real Estate Business stipulates that “Any organizations or individuals wish to conduct real estate trading shall set up enterprises or cooperatives (hereinafter referred to as enterprises) and have legal capital not smaller than VND 20 billion, excluding cases prescribed in Clause 2 of this Article.”

In addition, the Law on Investment 2020 also amends regulations on the competence to permit the transfer of all or a portion of real estate projects. For real estate projects approved by investors or granted an investment registration certificate in accordance with the Law on Investment, the competence and procedures for the transfer of all or a portion of the project comply with regulations of the Law on Investment. For real estate projects not falling into the above cases, the competence to permit the transfer of all or a portion of real estate projects is as follows: Provincial People’s Committee decides to allow the transfer of all or a portion of the real estate projects for projects decided by the provincial People’s Committee to invest; The Prime Minister shall decide to permit the transfer of all or a portion of real estate project to projects for which the investment is decided by the Prime Minister.

In case organizations, households or individuals sell, transfer, lease, or lease purchase real estate on a small scale, rarely, it is not required for real estate enterprise to be set up, but they must declare and pay taxes according to the provisions of law.

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers have law firm in Hanoi, law firm in Ho Chi Minh City and law firm in Da Nang.

Readmore:https://antlawyers.vn/library/what-are-new-in-real-estate-trading-business-from-2021.html

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Real Estate Dispute Lawyers in Vietnam Could Help with Property Disputes

     

What Are Real Estate Issues During Transaction: How Real Estate Dispute Lawyers in Vietnam Could Help?

The buyer and seller would neglect to use lawyers until real estate dispute lawyers in Vietnam are needed.

The real estate market is always an attractive market with a large source of potential speculative profits for investors. Because real estate transaction is always high in value, and buying a property for most people is always a life time important decision, and many times with the financial support from the bank, therefore in developed country, real estate lawyers are always involved in all steps of the transaction to ensure the legitimate transfer of the property. When dispute arise, real estate dispute lawyers in Vietnam will then be referred to for advice and representation.

Disputes arisen from deposit agreement, sales and purchase agreement in Vietnam

In Vietnam, in reality, many real estate transitions are conducted by the buyer and sellers themselves without real estate lawyers in Vietnam and there are many disputes arisen from the transactions in regard to property deposit agreement, property sales and purchase agreement between real estate developer and buyer for a new property, or between buyer and the previous property owner for resale property.

Residential property is one of the common types of real estate traded, so when joining in transactions related to property, it is necessary to ensure the conditions for property transfer. The related parties need to comply and meet the requirements of the above conditions for a successful transfer transaction.

Conditions for the property to be transferred: free from claim or dispute from other parties

Conditions for property transfer transaction include the following basic points: the transferred property is not in a dispute, complaint, or claim about ownership; the transferred property shall be within the property ownership period, in the case of property owners with a definite term; the transferred property is not distrained for judgment enforcement or distrained to comply legally effective administrative decisions of competent state agencies; the transferred property is not subject to a decision on land recovery or a notice of house clearance or demolition issued by a competent agency.

For the conditions on the parties to the property transaction, the property transferor needs to meet the following conditions:

Seller of the property has the right to sell or not?

The transferor is the owner of the property or the person permitted or authorized by the owner to carry out the transaction on property according to the provisions of law;

In case of transfer of a commercial house purchase and sale contract, the transferor shall be the person who bought the house from the investor or the person who has received the transfer of the house purchase and sale contract;

If the transferor is an individual, this person shall have full civil act capacity to carry out transactions on housing under the provisions of civil law;

If the transferor is an organization, it shall have legal status, unless the organization donates a house of gratitude or charity.

Can the buyer meet conditions to buy the property?

At the same time, the transferee shall also meet the conditions, specifically including the following conditions:

If the transferee is a domestic individual, this person shall have full civil act capacity to conduct property transactions under civil law and it is not required to them to have permanent residence registration in the place where the housing transferred is located;

If the transferee is a foreign individual or overseas Vietnamese, this person shall have full civil act capacity to carry out transactions on housing under Vietnam law. In addition, this person must be eligible to own houses in Vietnam according to the provisions of law and it is not required to them to have temporary residence registration or permanent residence registration at the place where the housing transferred is located;

If the transferee is an organization, it shall have legal status and not depend on the place of business registration and establishment; if it is a foreign organization, it must be eligible to own a house in Vietnam according to the provisions of law; if the organization is authorized to manage to house, it must have the function of providing real estate services and be operating in Vietnam under the law on real estate business.

What are potential disputes during the property transaction?

There are also disputes arisen from situations in particular:

The market price of the property increase or decrease during the time of transaction and one of the party would like to pull out of the transaction.

The sales and purchase of property is completed and registered at the authority but the seller continue to live there refuse to hand-over the property for some reasons for some unknown time.

The developer might change the design of the property as compared to the property details described in the sales and purchase agreement.

The quality of the property do not meet the specifications in the sales and purchase agreement.

Further, there are fraudulent acts in sales and purchase of property as well which one could also need to carefully pay attention to when entering into property transaction.

How real estate dispute lawyers in Vietnam could help?

As said, there are many situation that dispute could arise in a real estate transaction. It is important to engage real estate law firm specializing in real estate transaction for buying and selling property in Vietnam to avoid potential disputes and protect their best interest for seller and safeguard investment for buyer. When encountering dispute, the buyer or seller need to engage real estate dispute lawyers in Vietnam to handle dispute resolution.

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Food and Food supplements registration in Vietnam

   

Proclamation of quality specifications of imported food and food supplements

To ensure imported food and food supplements are safe to eat, as well as to protect consumer through the control of imported food and food supplements quality, the Vietnam Food Registration Agency requests the imported food and food supplements to be complied with the proclamation standard procedures.

ANT Lawyers is capable to carry out proclamation of quality specifications procedures in Vietnam for clients being manufacturers, importers and distributors.

ANT Lawyers services include:

Provide consulting advice relating to proclamation of quality specifications of products.

Act as authorized representatives to draft documents, filing of statement with the competent State agencies.

Provide consulting advice to overcome the problems arising in the course of registration;

Act as authorized representatives to draft documents, filing of application at the competent State agencies.

Authorized representatives to draft documents, filing for certificate extension at the competent State agencies.

A number of documents to be provided:

Products specifications;

Product label;

Samples;

Copy of the business registration certificate;

Certificates of Good Manufacturing Practice (GMP), Hazard Analysis and System Critical Control Point (HACCP);

Certificate of Free Sale or Health Certificate;

Power of attorney;

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Vietnam Assembly to Hold Off Building Nuclear Power Plant

  

It is important for Vietnam to properly re-balance the power supply. Without nuclear power, Vietnam shall need to add additional coal-fired power plants. Further, Vietnam will need to accelerate more renewable energy, including wind energy, solar energy projects and attract more investment in Vietnam in these energy sectors.

According to the National Assembly Office, the Parliament met the Minister of Industry and Trade on Nov 10th, 2016 whom will present the draft draft resolution on holding off building the first nuclear power plant in Ninh Thuan, Vietnam.

Back to history, on Nov 25th, 2009, with 382 endorsed delegates (at the rate of 77.48%), the Vietnam National Assembly has decided to approve the investment policy of Ninh Thuan nuclear power plants: Ninh Thuan Phuoc Dinh 1, located in Thuan Nam and Ninh Thuan 2 located in Vinh Hai commune, Ninh Hai district with a capacity of about 2,000 MW per plant.

Key technologies of the two plants is “light water reactor technology improvements, the most modern generation furnace, with proven, guaranteed safety and economic efficiency at the time of the project”.

Recently, there has been concerns among energy experts and Vietnamese people on a number of issues in regard to legal frameworks, technology, safety and expert resources. It appears that such concern has been listened leading to the possible decision to postpone the deadline to start the the nuclear power project. According to the new plan, the new clear power plant could be scheduled in the year 2030.

According to energy experts in Vietnam, being cautious is necessary. In order to implement the nuclear power projects, Vietnam will need to take time to prepare.

Firstly, Vietnam will need to evaluate the project, organize international tender, and implement detailed design. Such will need the help of foreign energy consulting firms to help appraise.

Secondly, Vietnam is sending 300-500 experts to Russia and Japan to study experience about managing the nuclear power plants. This training period is important to ensure the proper people are well equipped with knowledge and are capable to manage the plants and this process will take time.

Thirdly, Vietnam is negotiating with Russian factories and Japanese factory to import technology in nuclear power plants and the negotiations are still on-going.

Fourthly, number of scientists and people still fear safety problems of nuclear source especially the last two incidents at Chernobyl nuclear power plant in Russia and the Fukushima plant in Japan. Safe operation is one matter but the handling of residues is also an on-going concerns that Vietnam has to face when investing in nuclear power project.

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers have Attorneys in Hanoi, Attorneys in Ho Chi Minh and Attorneys in Danang.

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Plan to Simplify Regulations on Telecom, Gaming, Internet Service

      

In the process of economic integration and development, in order to create favorable conditions for business and service sectors under the management of the Ministry of Information and Communications, Vietnam has approved the plan to reduce and simplify regulations a number of regulations under its control.

Accordingly, Decision No. 1994/QD-TTg agreed to reduce and simplify regulations related to business lines: Provision of pay radio and television services; Provide G1, G2, G3, G4 video games online; Newspapers; Telecommunications service business; publisher’s activities; Business in printing services, except for packaging printing; Publishing services business; Postal services; Information Technology; Science and technology; Domain name registration and maintenance services; Internet; Network information security products and services in Vietnam. It is important for the company operating in the areas of concern to consult with telecom, internet business, media lawyers to follow up with specific changes in law in Vietnam.

These are industries with fast-growing trends and have a strong impact on other industries as well as on the overall economic development. Therefore, the facilitation and restriction of procedures will contribute to attracting foreign investment and creating development motivation for businesses, quickly catching up with the rapid changes of services, improving the quality of services and improving the quality of services information and communication products.

Accordingly, on procedures for granting certificates of eligibility to provide public electronic game services, for the application components “Plan for the location of the computer room of the public video game service point suitable according to the prescribed area” and “Pay the fee for the issuance of the Certificate of eligibility to operate the point of supply providing public video game services” were abolished. Especially, it is subject to change immediately after the time of licensing. Therefore, the information of the location of the machine room option at the time of consideration for licensing is of little significance. Besides, the Decision also mentions supplementing the form of implementing administrative procedures on electronic means (changing the form of paper copies into electronic ones) to be flexible and ensure consistency with the Enterprise Law 2020 in the implementation for businesses.

The decision also abolishes administrative procedures for granting licenses to provide G1, G2, G3, G4 video game services online. According to the plan, many procedures with G1 online game service will be abolished such as: licensing procedures; license re-issuance; license renewal or procedures for amending and supplementing the license to provide G1 video game services on the internet… This is a meaningful abolition decision for the practice of licensing video games. Because, it is challenging for state agencies to request enterprises to apply for permits and report every time they change their business plans, affecting the autonomy of enterprises as well as creating huge inadequacies in terms of business administrative procedures.

In addition, business conditions: “The publisher’s office has an appropriate area, meets the provisions of the law on standards and norms for using the office” has been simplified to ” having an office that meets the provisions of law on standards and norms for using the office”. This change is reasonable, because the criterion of suitable area has no basis for explanation. Moreover, the area of ​​the publisher’s headquarters is not related to the management of the State. With the new regulations, publishers can be autonomous in choosing the right area, ensuring space for business activities. At the same time, the Decision also combines two administrative procedures including re-issuance and renewal of licenses for printing and publishing publications into one administrative procedure, limiting cumbersome procedures, saving time and costs for businesses.

In addition, in the field of publication distribution service business, the Decision simplifies the process of granting certificates of registration for publishing and publishing electronic publications in the direction of only performing the verification process determining the project of publishing and distributing electronic publications. Therefore, if the project is eligible and accepted, the enterprise will be granted a certificate of operation registration immediately.

According to the simplified version of the Decision, the Postal Business Registration Certificate and the Postal Investment Certificate in Vietnam will be merged into the Business Registration Certificate.

Therefore, the introduction of Decision No. 1994/QD-TTg has reduced and simplified procedures; help the process of preparing documents quickly; save time for organizations and individuals when carrying out administrative procedures and minimize the cost of administrative compliance.

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How to Set-up Travel Services Business in Vietnam

       

Foreign investor could only set-up joint venture with Vietnam travel agency to set-up travel services business in Vietnam because transport of passenger belongs to investment areas with conditions applied to foreign investor in Vietnam.

No one could deny that information technology has tremendously changed the way travel services business operates. The use of booking reservation system application on smartphone and internet are widespread that make travel has never been easier. Foreign investor would be interested to explore the travel services market. However, 100% foreign owned company is not allowed to set-up travel services business in Vietnam. As this investment area is conditional, it is advised that a law firm in Vietnam should be consulted to ensure compliance with local regulations.

The application process and documents requirements are briefly as following:

I. Required documents:

Application for the International Travel Business License (form);

Certificate of business registration (copy – certified)

Business plan for the international travel agency;

Tour schedule

Proof of at least 4 years of experience in international travel business operations

Certified copies of the tourist guides’ cards whereby at least 3 international tourist guides are required

Confirmation of bank deposit (as per regulations);

Proof of office premises or legally registered place of business

II. Business License Application Procedure

Submission of the required documents to the correct authority (Department of Culture, Sports and Tourism of the province/city where the business is headquartered).

The Department of Tourism of the province/city completes the records of appraisal and submits a written request with the agency’s records to the Ministry of Culture, Sports and Tourism in Vietnam within ten working days from the date of receipt of a valid application. When cases are not eligible for the proposed permit to the state agencies, the provincial tourism department shall cite the specific reasons for refusal.

The state management agency of tourism (VNAT – Ministry of Culture, Sports and Tourism) is responsible for reviewing and licensing the international travel business within ten working days from the date of both receipt of the file and written request of the state agency of tourism in the province. In case of refusal, the ministry shall state the specific reasons to the state and provincial tourism authorities

III. Number of records

– Submission to the Department of Culture, Sports and Tourism: 01

– Tourism Authority Filed in: 01

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers have Attorneys in Hanoi, Attorneys in Ho Chi Minh and Attorneys in Danang.

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Why Investors Should Set up Business in Phu Quoc?

    

The improvement in infrastructure system along with the preferential policies have stimulated investors to come to set up business in Phu Quoc and do company.

Phu Quoc, an island in Kien Giang of Vietnam is in the top of three islands having tourism potential in Southeast Asia comparable to Phuket in Thailand and Bali in Indonesia. Phu Quoc has become a magnet for attracting huge investment flows from foreign investors in the area of real estate, entertainment, casinos, restaurant or food and beverage service business.

Phu Quoc has temperate weather throughout the year. There are also fresh and friendly forest – sea ecology and the modern transport system on the island with international airport and international hospital. Moreover, many infrastructure projects and international schools are under construction, which are necessary and favorable conditions to invite and attract investors to the Pearl Island for doing business.

Capital inflows to Phu Quoc have really exploded after the “knots” in investment were removed. The new airport went into operation that can welcome larger aircraft and serve more flights, in which there are more international direct flights from China, Singapore, Russia and Cambodia. The 51km long radial route on the island has been basically completed; the road around the island and the branch roads are also being deployed. The power grid was pulled from the mainland to the island, replacing the very high cost gasoline power in the past.

The real estate and tourism consultants all agree that Phu Quoc fully convergent elements of an attractive beach for tourist with year-round sunshine, many beautiful beaches such as Long Beach, Truong Beach, Khem Beach and immense virgin forest. Moreover, Phu Quoc has a strategic location with just 1-2 hours flight to the key tourism markets in Southeast Asia.

Both investment and tourism in Phu Quoc have entered the acceleration phase. By the end of July 2015, Phu Quoc has attracted nearly 200 investment projects, including 136 projects that are being implemented in the area of over 5,100 ha with total registered capitals of 6.5 billion USD. Just one part of those projects become reality then it will make Phu Quoc to become a leading tourist destination in Vietnam, ahead of Da Nang and Nha Trang, competing with the top destinations in the area as Phuket and Bali.

Some of the largest Vietnam corporations such as Vingroup, Sun Group, CEO Group, BIM Group are implementing the huge projects that could alter the appearance of the island. In which the giant in real estate sector – Vingroup has invested projects as: Vinpearl Resort on an area of 300 ha in Long Beach, the combining of golf course and safari zoo on an area of more than 2,000 ha, and the 80 ha commercial complex.

The improvement in infrastructure system along with the preferential business and legal environments i.e. favourable land rental rates, corporate income tax, exemption of visa for foreign tourists make Phu Quoc island of Kien Giang, Vietnam a new attractive place for investment.

ANT Lawyers, a law firm in Vietnam could offer service to set-up company in Phu Quoc through its affiliate office. We assist clients needing legal service in obtaining investment certificate, business registration, or other licensing procedures in Phu Quoc, Kien Giang Province, Vietnam.We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers have Law firm in Hanoi, Law firm in Ho Chi Minh City and Law firm in Danang.

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How to Invest, Do Business and Reside in Vietnam in 2022?

   

With economic opening policies, especially after the Covid-19 pandemic, Vietnam is an attractive destination for foreign investors. Accordingly, the number of foreign investors in Vietnam is constantly increasing. In order to create favorable conditions for individual investors with direct capital investment or representatives of foreign organizations investing in Vietnam to live, work, Vietnam has policies, suitable for each type of investor in being granted temporary residence cards in Vietnam.

Investors using visas, temporary residence cards under the investment category sponsored by foreign investment companies and with the temporary residence card symbol DT, are divided into three types of temporary residence cards as follows: (i) DT1 – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam with a contributed capital of VND 100 billion (USD 4.5 mil) or more or investing in industries, professions eligible for investment incentives, geographical areas with investment incentives decided by the Government; (ii) DT2 – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam with a contributed capital of between VND 50 billion (USD 2.3 mil) and under VND 100 billion or investing in industries, trades to encourage development investment decided by the Government; (iii) DT3 – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam with capital contribution from VND 03 billion (USD 136k) to less than VND 50 billion. Temporary residence cards with a specific term for investors and representatives of foreign organizations investing in Vietnam are as follows: Temporary residence cards with symbol DT1 have a term of not more than 10 years; Temporary residence card with symbol DT2 is valid for no more than 05 years; Temporary residence card with symbol DT3 is valid for no more than 03 years. In case foreign investors and representatives of foreign organizations investing in Vietnam with a contributed capital of less than VND 03 billion, they will not be granted a temporary residence card, instead they will apply for a signed visa DT4 which is valid for no more than 12 months.

The application file for applying for a temporary residence card to a foreign investor must be documents proving the status of the sponsoring agency, organization, individual; documents proving the relationship between the investor and the sponsoring agency, organization or individual; information of the sponsored investor; relevant document information to determine the type of temporary residence card issued to investors; and declarations in accordance with the law.

If foreign investors and representatives of foreign organizations investing in Vietnam wishing to stay in Vietnam, they need to apply for a temporary residence card according to the conditions, documents, procedures of Vietnamese law. It is important to consult with immigration law firm in Ho Chi Minh City, or in Hanoi, Da nang for effective solutions.

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