Industrial Design Registration in Vietnam

Industrial design is the appearance of the product which is expressed through shapes, lines, colors or combinations of these factors. 

Industrial design in Vietnam

A product as being commercially marketed will have a certain style with a combination of certain shapes, lines, colors, etc which is the design of the product. When a new design to be launched, if it attracts customers, there is a big chance there will be fake or imitated products.  Therefore, before a new design is launched, business owners need to conduct registration procedures for protection of industrial designs.  That is the action for the protection of its product design and the prestige of the enterprise in the market.  This protection will prevent the infringement of the design, therefore the registration of industrial design protection is essential.

ANT Lawyers’ services in the field of industrial design registration advice covers:  

• Look-up, assess and consult possibilities to register industrial design in Vietnam and abroad;

• Represent clients in applying for certificates of industrial design, record modification, extend degree of industrial protection in Vietnam and abroad;

• Evaluate the effectiveness of the certificate of industrial design registration and the possibility of industrial design rights violation;

• Implement of the protected industrial design rights: investigate, monitor, negotiate, seek arbitration or initiate a lawsuit or request other competent agencies for handling of infringement in Vietnam and abroad;

• Negotiate, draft, evaluate and register the of changing industrial design ownership in Vietnam and abroad;

• Advise on building strategies, brand development; For advice and specific details in each case, please contact us directly for advice.

ANT Lawyers -  A Law firm in Vietnam is supported by a team of experienced patent, trademark, design attorneys with qualification and skills handling full range of legal services relating to intellectual property in Vietnam.  We have specialized in the preparation and registration of patents, trademarks and designs for our clients.

We assist our clients in all steps of the prosecution phase of IP management

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10 Questions to Ask Before Setting-up Company in Vietnam

Foreigners are encouraged to make investment in Vietnam through direct investment by Setting up company in Vietnam.

However there are restrictions in some cases in regard to investment capital, investment area, special licenses required. The investor is suggested to consult with a law firm in Vietnam for advice and service offering.

Before setting up business in Vietnam, ask yourself the following questions:

1. Which business should I invest in Vietnam?

There are non-conditional investment areas and conditional investment areas.  Establishing company in the non-conditional investement areas are more simple than in conditional investment areas.  Investment in IT services, manufacturing, management consulting, business promotion are a few samples of non-conditional investment areas.  Example of conditional investment areas are real estate, trading, travel agencies, freight forwarding…which are more complicated with investment conditions.  Investment conditions might also be changed over the time depending on the WTO commitments which Vietnam enters.

2. What should I name the business in Vietnam?

The company in Vietnam has to have Vietnamese name, and English name. The company could also have abbreviated name.  The name of the company in Vietnam indicates the structure of the company, the business lines, and the name that differentiate against other businesses.  For instance, the company could be named Alpha consulting limited liability company.

3. Where should I register the address of the business in Vietnam?

Not every address could be used to register a company.  The address has to be an address of a house with leasing agreement or office building which owner has license to operate as office building.

4. What is the legal structure of the company?

Depending on the number of investor contributing capital, company could be set-up as one member limited liability company or two ore more member limited liability company or joint stocks company.

5. How much capital is required to set-up a company in Vietnam?

The investment amount depends on the business plan and is subject to the approval of the provincial Department of Planning and Investment evaluating application dossier. In some business areas like real estate, banking and finance, minimum capital is required. In general for non-conditional investment area, the law does not specify the minimum capital to establish a company in Vietnam however the State agencies that evaluate investment plan could reject the investment project which are not feasible. Bank statement in foreign banks could be used to prove sufficient fund of investment capital.

6. Whom will be legal representative and work permit in Vietnam?

The investor will need to appoint the legal representative in Vietnam to oversee the business performance and take legal responsibility in Vietnam. If the legal representative is an expatriate, whom is a capital contributing member or owner of a limited liability company or a member of the Board of Management of a shareholding company which is registered to operate in Vietnam, he or she will be exempted from work permit in Vietnam. Otherwise, he or she will need to have a work permit to work in Vietnam legally.  The work permit holder would then apply for temporary residence card to live in Vietnam as long as the work permit allows.

7. How long does it take to set-up a company in Vietnam?

It depends on what type, scale, and whether or not conditions are required. For a simple minimum capital without conditions to set-up, it would take 30 working days. For setting up company in conditional investment areas i.e.  trading company in Vietnam, time would be lengthen due to the involvement of a number of State agencies approving the investment project and it would take 60 working days. For setting up company in other investments in areas requiring conditions to meet, time might be taken depending on the type of conditions and the government agencies evaluating the conditions of investment.

8. Whom will be granting the investment license in Vietnam?

For most of the investment projects, the provincial state agencies with the approval of the Department of Planning and Investment (DPI) will be granting the Investment Certificate in Vietnam. However, depending on the type, scale, and whether or not conditions are required, other Vietnam State agencies might be involved. For the case of trading company, ministry of trade and commerce, ministry of finance, provincial people’s committee will be reviewing the investment application dossier as well.

9. What are the tax liability in Vietnam?

Major taxes in Vietnam are corporate income tax, import and export tax, value added tax, and personal income tax in Vietnam. In some special areas, there are other taxes. The corporate income tax is currently at 22% and will reduce to 20% beginning 2016. Export is mostly encouraged as such the export tax is 0 however there are special cases when export tax is larger than 0. Import tax varies according to tariff. Value added tax is mostly at 10% however in some cases, VAT could be 5% or 0%. Personal Income tax varies according to income level and is applicable from VND 9,000,000 above.

10. What are mandatory reports submissions requirement in Vietnam?

Companies are required to keep accounting books, prepare and submit tax reports on monthly, quarterly and annually. Foreign companies are also required to have financial audit taken before the financial year end. The financial year in Vietnam is from January to December and the deadline to submit financial report is March 30th for the previous year. Other reports are required to be submitted at other State agencies.

ANT Lawyers is a Law firm in Vietnam with international standards, recognized by Legal500, IFLR1000. We are an exclusive Vietnam member of Prea Legal, the global law firm network coverig more than 150  juridictions. The firm provides a range of legal services as following to multinational and domestic clients.

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Conditions for Establishing Representative Office in Vietnam

Decree No. 07/2016 / ND-CP regulating the Commercial Law regarding representative offices and branches of foreign traders in Vietnam that have recently been issued by the Government.

Accordingly, foreign traders can establish their representative offices and branches in Vietnam under Vietnam’s commitments in international treaties to which Vietnam is a member. A foreign trader cannot establish more than one representative office or branch with the same name within a province or city under central authority.

Foreign traders are licensed to establish representative offices when they meet five conditions:

– Foreign traders can establish and register for business in accordance with law of nation and territories participating in international treaties in which Vietnam is a member, or recognized by the law of those nations and territories.

– Foreign traders that have been in operation for at least one year from the date of establishment or registration.

– In case the certificate of business registration or papers with equivalent value of the foreign traders have prescribed the time limit for operation, then the duration must be at least 1 year from the date of submitting record.

– The operation of the representative office must match the commitment of Vietnam in the international treaties in which Vietnam is a member.

– The case where the operation of the representative office is inconsistent with Vietnam’s commitments or foreign traders do not belong to any nations and territories participating in the international treaties in which Vietnam is a member, the establishment of representative offices must be approved by the Minister of specialized management.

The Decree also stipulates the conditions for foreign traders to be granted licenses to establish their branches. Specifically, foreign traders will be licensed for the establishment of branches when they meet 5 conditions:

– Foreign traders can establish and register for business in accordance with law of nation and territories participating in international treaties in which Vietnam is a member, or recognized by the law of those nations and territories.

– Foreign traders that have been in operation for at least five year from the date of establishment or registration.

– In case the certificate of business registration or papers with equivalent value of the foreign traders have prescribed the time limit for operation, then the duration must be at least 1 year from the date of submitting record.

– The operation of the branch office must be consistent with the market-opening commitments of Vietnam in the international treaties in which Vietnam is a member, and in line with the business lines of the foreign trader.

– If the content of the branch operation is inconsistent with Vietnam’s commitments or foreign traders do not belong to any nations and territories participating in the international treaties in which Vietnam is a member, the establishment of branches must be approved by the Minister of specialized management.

The license for the establishment of representative office and branch of foreign traders have a term of 5 years but does not exceed the remaining term of the certificate of business registration or papers of equivalent value of the foreign trader in the case that those papers contain provisions on the term.

Source: ANTLawyers

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How Foreign Entity Could Set-up Representative Office in Vietnam?

A foreign business entity or a foreign trader is allowed to establish Representative Office in Vietnam according to the Commercial Law No 36/2005 and Decree No. 72/2006/NĐ-CP dated July 25th, 2006 detailing the commercial law regarding Vietnam-based representative offices and branches of foreign traders.industrial design in National Office of Intellectual Property shall guarantee that your product appearance is protected from violation of others.

Representative office of a foreign business entity in Vietnam (referred as “Representative Office”) means a subsidiary unit of the foreign business entity, established in accordance with the law of Vietnam in order to survey markets and to undertake a number of commercial enhancement activities permitted by the law of Vietnam.  Representative Office will need to apply and obtain the establishment license; and have a seal bearing the name of the representative office.

Setting up a Representative Office is less complicated from setting up a company in Vietnam.  The Vietnam Department of Trade will be approving the establishment of Representative Office in Vietnam while Vietnam Ministry of Planning and Investment will be the State agency that coordinate the setting up a company in Vietnam.  The time duration to establish a Representative Office is shorter than to establish a company.  There are fewer conditions to meet than conditions in setting up a company in Vietnam.  The main difference between a Representative Office and a company in Vietnam is that the Representative Office could not directly conduct profit making activities.

Rights of the Representative Office:

• To operate strictly in accordance with the purposes, scope and duration stated in the license for establishment of such representative office;
• To rent offices and to lease or purchase the equipment and facilities necessary for the operation of the Representative Office;
• To recruit Vietnamese and foreign employees to work for the Representative Office in accordance with the law of Vietnam;
• To open accounts in foreign currency and in Vietnamese Dong sourced from foreign currency at banks which are licensed to operate in Vietnam, and to use such accounts solely for the operation of the Representative Office.

Obligation of the Representative Office:

• Not to directly conduct profit making activities in Vietnam;
• Not to enter into commercial contracts of the foreign business entity or to amend or supplement such contracts already signed except where the head of the Representative Office has a valid power of attorney from the foreign business entity;
• To pay taxes, fees and charges and to discharge other financial obligations in accordance with the law of Vietnam;
• To report on the operation of the Representative Office in accordance with the law of Vietnam

A foreign company which has effectiveness business activities will be allowed to open the Representative Office in Vietnam if this company has real demand to open the market in Vietnam and meet conditions as below:

• Being a business entity or trader recognized by the law of the country or the territory (hereinafter referred to collectively as the country) where it has been lawfully established or made its business registration;
• Having been operating for at least one year after its lawful establishment or business registration in its country.

The issuing period will be within 20 working-days after the date of submitting the full valid documents as requested.

ANT Lawyers has law offices in Hanoi, Ho Chi Minh, and Da Nang City.  For advice or service request, please contact us via email ant@antlawyers.vn, or call +84 8 3520 2779.  To learn more about us, visit www.antlawyers.vn.

Source: ANTLawyers

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How To Protect Trademark in Vietnam?

Trademark protection in Vietnam is initially obtained through trademark registration.

Trademark opposition could be filed to prevent a pending application for a mark from being granted application.  Litigation is the final measure to handle dispute during trademark protection in Vietnam.

Trademark in Vietnam 

Trademark is a sign that help distinguish the goods or services of one enterprise from those of others. Together with industrial design and patent, trademark of goods and services plays an extremely important role for the growth of the enterprise. Trademark establishes a link between enterprise and customer.  A strong trademark will attract customers to use goods or services. When trademark is popular and economic benefits achieved through sale of goods or provision of services coupled with trademark is large, the violation of trademark is inevitable.

The annual reports of the Vietnam National Office of Intellectual Property (NOIP) prove that trademark violation in Vietnam is the most popular, among other industrial property rights.  According to the preliminary annual report in 2011, and 2012, there has been more than 1,000 cases of trademark violations each year.  Report of 2013 shows more than 2,000 trademark infringements were handled with the total fines of trademark violators of around USD 1 million.  Having said that, it is important for trademark owner to register trademarks in Vietnam for better protection.  This is also suggested for even well-known trademarks.

For registration, trademark owner has two options: either directly register trademark in Vietnam by filling an application for registration with the Vietnam NOIP, or seek the protection in Vietnam through Madrid’s system.  For the first option, the trademark owner needs to prepare, file for registration, and pay fee as the requirement of Vietnam Intellectual Property law.  In case trademark needs to be protected in a number of nations, including Vietnam, trademark owner may register trademark through Madrid’s system.

Where the violation of trademark occurs, trademark owner needs to judge the level of infringement, level of damage to choose suitable resolutions.  Initially, the trademark owner may protect by requiring to the trademark violator to terminate the infringing acts, apologize, and rectify. In case of being damaged, trademark owners have rights to claim compensation.  If failing to reach result, trademark owner may use settlement mechanism through negotiation or mediation or could request the competent state agencies to handle acts of infringement through i.e. filling a denunciation application and submitting to the Vietnam NOIP.  Litigation might be required to handle acts of infringement.  Generally, the proceeding of civil litigation is more complex than the arbitration proceeding. In cases the trademark owner needs a decision from court in order to end trademark infringement, civil litigation is top priority. In the remaining cases, arbitration is a better choice with advantages of cheaper cost, shorter settling time, and more flexible.

Source: ANTLawyers

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Marriage Involving Foreign Elements in Vietnam

Cross culture marriage in Vietnam is getting more popular due to the further integration of Vietnam into world’s economy and people relocation for better living.

Marriage Involving Foreign Elements in Vietnam

It is understandable that a foreigner who works and lives in Vietnam wishing to register marriage with a Vietnamese or even another foreigner under Vietnam laws.

However, it is challenging for foreigners to be aware of the legal provisions governing the issue of marriage involving foreign elements in Vietnam. The parties involved in the marriage should to go through not so simple administrative procedures, because of the complexity of managing and protecting the legitimate rights of not only Vietnamese citizens, but also foreigners, to be governed under the Law on Civil Status.  It is not unfamiliar when husband and wife agree to sign prenuptial agreement, agreements on personal assets and properties, and agreements to separate assets and properties during the marriage time.

Procedures for Registration of Marriage in Vietnam

According to the current law provisions, the competence to register marriage between a Vietnamese citizen and a foreigner belong to the District People’s Committee where the Vietnamese citizen is residing. In addition to papers relating to declarations and documents that must be prepared, in order to marry a Vietnamese citizen, a foreigner have to submit papers proving their marital status issued by a competent authority of the country which he/she is a citizen. The certificate issued no more than six months, up to the time of application, confirming the current no spouse. In case, foreign law does not provide for the granting of papers certifying the marital status, the papers shall be replaced by the foreign competent bodies certifying that such persons meet all the marriage conditions under the laws of that country. Documents, papers issued by the competent authority of the foreign country must be notarized, legalized and authenticated.

After submitting complete, and valid dossiers and paying the necessary fees, if the marriage conditions are fully met, the chairperson of the District People’s Committee will approve the application. Upon marriage registration, both husband and wife must be present at the head office of the People’s Committee, and both will sign in the marriage certificate.

Foreigner’s Challenges?

To register marriage involving foreign in Vietnam, foreigners must have a marital status documents issued by a foreign competent authority where he/she is a citizen. Depending on the country, the paper proving citizen’s marital status issued to citizens when they apply for marriage registration is different. Most of the difficulties the foreigners encountered are the application for the issuance of papers abroad and at the same time they must carry out administrative procedures for the legalization of that document at the competent authority in Vietnam. Thus, the time required to prepare necessary documents and documents is generally long with strict administrative procedures.

In fact, marriages involving foreign couples encounter procedural difficulties and take a considerable amount time for preparation.

ANT Lawyers have experience in civil and family matters to advice clients whom are interested for such legal service in Vietnam.   We assist our clients in the process of reviewing agreements, procedures and concerned matters in civil and family.

Source: ANTLawyers.vn

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Anti – Dumping Tariff May Officially be Imposed on Galvanized Steel

The result of anti – dumping investigation into galvanized steel originating from China, Korea imported into Vietnam was issued on Mar 6th, 2017 after one year of investigation.

Anti – Dumping TariffMay Officially be Imposed on Galvanized Steel

Ministry of Industry and Trade has informed about the final finding of anti-dumping investigation into Galvanized Steel exported to Vietnam from China, and Korea.

Accordingly, on March 3rd, 2017, Vietnam Competition Authority (VCA) finished investigation process of the case and sent the final determination daft to concerned parties.

Based on the conclusion, Ministry of Industry and Trade shall decide whether or not to apply trade remedy measures galvanized steel.

On March 3rd, 2016, Ministry of Industry and Trade issued Decision No. 818/QĐ-BCT on investigation of anti-dumping case against galvanized steel products originating from People’s Republic of China (including Hong Kong) and South Korea imported into Vietnam.

The investigation duration is one month. During the investigation process, on Sep 1st, 2016, Ministry of Industry and Trade imposed temporary anti – dumping tariff on Galvanized Steel imported into Vietnam

Accordingly, the temporary anti-dumping tax rates on galvanized steel originating from China (includes Hong Kong) and Korea is between 4.02-38.34%

Many businesses were imposed at high tax imposed the temporarily for anti-dumping upto 38,34%.

If the temporary anti-dumping tariff is continued to be imposed, many Vietnam steel corporations will benefit.  In the meantime, the foreign steel exporter whom export to Vietnam considers decision of imposing high anti-dumping rates are unfair due to the way VCA utilized to calculate the dumping margin.

The  anti-dumping laws in Vietnam will continue be adjusted as Vietnam further integrate into the global business.  The changes of laws will be monitored by ANT Lawyers international trade practice  in Hanoi, Da Nang and Ho Chi Minh City to provide clients with updates.

ANT Lawyers has law offices in Hanoi, Ho Chi Minh, and Da Nang City.  For advice or service request, please contact us via email ant@antlawyers.vn, or call +84 8 3520 2779.  To learn more about us, visit www.antlawyers.vn.

Source: ANTLawyers.vn

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Intellectual Property and Trademark Registration

Trademark is a sign for consumers to identify the goods or services of each company from those of others.

In Vietnam, many businesses today have not paid sufficient attention to trademark protection.  Only when their trademarks would be infringed by other companies or competitors, they really concern to protect their trademarks and business through trademark registration, trademark opposition or take further actions.  Such situation will negatively impact the business financially.

Register trademark in Vietnam

Trademark rights will be protected within the national territory, therefore when a trademark has been registered in Vietnam, it will be protected in Vietnam.  If one company wishes their trademarks to be protected in other countries, it could:

• Directly register in each country or

• Register via the Madrid International registration by filing a single application which indicates the registrations at respective countries.

If registered under the Madrid International, firstly, trademarks must have been submitted trademark applications or have registered in Vietnam, depending on whether the country for protection is under the Madrid Protocol or the Madrid Agreement.

Law on Intellectual Property and its related documents could also be referred to for further information.

ANT Lawyers’ services in the field of trademark registration advice covers:

• Look-up, assess and consult possibilities to register trademark in Vietnam and abroad;

• Represent clients in applying for certificates of trademark registration, record modification, extend degree of trademark protection in Vietnam and abroad;

• Evaluate the effectiveness of the certificate of trademark registration and the possibility of trademark rights violation;

• Implement of the protected trademark rights: investigate, monitor, negotiate, seek arbitration or initiate a lawsuit or request other competent agencies for handling of infringement in Vietnam and abroad;

• Negotiate, draft, evaluate and register the of changing trademark ownership in Vietnam and abroad;

•  Advise on building strategies, brand development;

ANT Lawyers has law offices in Hanoi, Ho Chi Minh, and Da Nang City.  For advice or service request, please contact us via email ant@antlawyers.vn, or call +84 8 3520 2779.  To learn more about us, visit www.antlawyers.vn.

Source: ANTLawyers.vn

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Construction Operation License Instead of Contractor’s Permits for Foreign Contractor in Vietnam

The foreign contractors are only permitted to carry out construction activities in Vietnam so long as being granted construction operation license by Ministry of Construction as per the Construction Law.

EPC Contractors have increasingly been interested to learn the requirements of licenses and permits to operate in Vietnam. It is advised that the construction law firm in Vietnam with lawyers specializing in construction area to assist the foreign contractors to understand the legal frameworks, and requirements of foreign contractors before and after taking on construction projects in Vietnam after bidding result.

The regulations and procedures are promulgated in Decree No. 59/2015/NĐ-CP on management of construction investment projects and Circular No.14/2016/TT-BXD guiding on licensing construction activities and management of foreign construction contractors in Vietnam.

Investment in construction activities has been growingly rapidly. In order to meet the tender conditions and take part in construction activities in Vietnam, foreign contractors shall follow the regulations in Vietnam and obtain proper license during the preparation and the execution of the construction of the project.

Prior to construction operation license, foreign constructors have experienced another form of permit named contractor’s permits for foreign contractors in Vietnam. These are two concepts however the process of registration and document requirements are not so different.

There has been an effort to harmonize and reduce differences and conflicts arisen in many fields of laws regulating the mentioned subject and the new provisions of the Law on Bidding, Construction Law and the Investment Law to be issued in 2014 which establish a stable legal framework for the implementation of foreign contractor’s bidding and construction activities in Vietnam.  This changes does not differentiate which position the foreign contractors are appointed from the lead contractor, the main contractor, contractor to subcontractor consortium. Unlike domestic contractors, foreign contractors must be granted construction operation license for each awarded contract.  The amendment from the contractor’s permits for foreign contractor contribute to the unity of the same concept in different legal instruments regulating the license procedure of foreign contractors operating within the territory of Vietnam, and limit the unnecessary overlaps, difficulties to law interpretation and application of legal entities.

We shouldn’t forget to mention that the amendment of the foreign contractor’s construction operation license is to increase the relevance between the name and nature of the licensed activities of foreign contractors in construction operation. One of the initial conditions to a foreign contractor to be licensed is when the contractor has won a bid or been selected to be sub-contractor of an investment project. Therefore, the terms construction operation license shall demonstrate the role of the contractor in the construction projects they have been participated in.

The new construction operation license for foreign contractor is expected to be easier to relate to when foreign contractor take part in construction project in Vietnam.  This would attract more foreign contractors to undertake construction projects in Vietnam to bring in the technology equipment, as well as the management skills to Vietnam.

ANT Lawyers has law offices in Hanoi, Ho Chi Minh, and Da Nang City.  For advice or service request, please contact us via email ant@antlawyers.vn,
or call +84 8 3520 2779.  To learn
more about us, visit www.antlawyers.vn.

Source: ANTLawyers.vn

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What Lawyers Should Not Promise in Vietnam?

Lawyers in Vietnam have to follow the law in order to provide good legal services to clients.

In Vietnam, the law has continuously played an important role in the life and contribute to protect and maintain the stability and development of society. In the trend of integration of the world economy, the role of the law has once again been confirmed with a new level in order to contribute to promoting the integration of Vietnam into world economy and opens a new opportunity for those who are practicing law in general and lawyers in particular in Vietnam.

In general, lawyer profession in Vietnam has been a noble profession for the purpose of contributing to the protection of justice, while contributing to the socio-economic development. In reflection, lawyers themselves take professionalism as the basic foundation of the profession, and should always have the responsibility to self-improve skills and widen knowledge in various areas to meet the growing demands as Vietnam develops i.e. corporate, commercial, investment, construction, labour, dispute resolution, debt recovery…etc.

Sometimes, when providing legal services to clients in handling disputes claim against damages for breach of contractual obligations, or obtaining licenses in setting up company, work permits, temporary residence cards, the customer has requested a lawyer to promise and guarantee the results of the works.

The lawyer, whom represents the client to protect the legitimate rights and interests of the client, has to follow the law, and the ethics. Responding to the request of the client to promise and guarantee the result, the lawyer shall refuse because the outcome of such will depend on the facts and legal grounds of the matters.

The lawyer shall collect comprehensive information from the client then analyze possibilities of outcome. Lawyers should not promise the results or the percentage of success which could potentially lead to the wrong decision made by the client. If the results are not as customer’s expectation, it will be a great loss to the prestige, and the image of lawyers. A good lawyer will have the skills to analyze problems, look at the details, and propose solutions but cannot guarantee the outcome of a case. Each case is different and there are too many unknown factors, and the unanswered questions.

In a litigation case, the lawyers will tell the customers what they are facing, what the lawyers could do, the best situation and what is worst. Good lawyers will know how to analyze and clarify the issue. Both the client and the lawyer should have a positive attitude to solve the problems in regard to the disputing matters.

The only thing ANT Lawyers could promise in any case is that we will follow the laws of Vietnam.

Source: ANTLawyers.vn

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How to Establish a Company in Vietnam

Foreign investors may invest in the form of 100% capital to establish a limited liability company, joint stock company, partnership company or other forms in investment in Vietnam.

10Questions to Ask Before Setting-up Company in Vietnam

Foreign investors that invest in Vietnam 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. Investment certificates shall concurrently be business registration certificates.  Company with 100% foreign capital has founded and operated from the date of issuance of the investment certificate.

A project dossier for establishing a company in Vietnam shall comprise:

• Registration/Request for issuance of Investment Certificate;
• A report on financial capability of the investor;
• Draft of the company’s charter;
• List of members of company;
• Copy of the people’s identity card, passport or other lawful personal certification, for individual members;
• Copy of the establishment decision, business registration certificate or other equivalent document, for member organizations;
• Copies of the authorization document, the people’s identity card, passport or other lawful personal certification, for authorized representatives.
• Copies of the business registration certificates of the foreign member organizations must be authenticated within three months before the date of submission of the business registration dossier by agencies where such organizations are registered;
• Written authorization of the investor in case investor is organization and valid copy of the lawful personal certification of the authorized representative. Documents in foreign languages must be translated into Vietnamese, notarized and legalized;
• The joint-venture contract or Business Cooperation Contract (BCC);
• Other documents required by Vietnam law.

The establishment of a company in Vietnam would take from 30 days.  The extra time might be needed in case the investment area is conditional or the State government needs to examine the investment project.  Minimum capital, special licenses or other conditions might be required in certain investment projects.

The  law  on  investment constantly changes which ANT Lawyers will monitor and provide relevant update.

Source: ANTlawyers.vn

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