What to Know about Business Registration Certificate in Vietnam

What to Know about Business Registration Certificate in Vietnam?

A company's business registration certificate, which can be printed on paper or electronically and contains information about the company's registration with the Business Registration Authority, is regarded as a legal document.

The principal contents of a business registration certificate in Vietnam must comply with the provisions of the Law on Enterprises: Name and number of the company; Address of the company's principal place of business; For the legal representative of limited liability companies and joint stock companies, full name, contact address, nationality, and number of legal documents; for a partnership company's general partners; for proprietors of private businesses. Name, contact information, nationality, and the number of legal documents held by the member, if any; for limited liability companies, the member's name, enterprise identification number, and head office address; Sanction capital for organizations, speculation capital for private endeavors.

Which means that the company's name must be a Vietnamese name with two parts: the kind of business and the proper name. Currently, four types of businesses are recognized in Vietnam: partnerships, limited liability companies, joint stock companies, and private businesses The Vietnamese letters F, J, Z, and W, as well as numbers and symbols, can be used to write the company's proper name. The National Information System on Business Registration created a series of numbers that are recorded on the Certificate of Business Registration. These numbers are given to a company when it is first established and are included in the enterprise code element. There is only one code that is unique to each business, and that code will not be used by other businesses.

The Vietnam Business Registration Office, the postal service, or the electronic information network are all options for completing the business registration process. The founder of the business must apply through the National Enterprise Registration Portal if they choose electronic information network registration. Electronic business registration documents have the same legal weight as paper business registration documents and will be presented.

Within three working days of receiving the application, the business registration agency is responsible for validating the enterprise registration dossier and issuing the business registration certificate. The company's founder must be informed in writing by the business registration agency of any content that needs to be amended or added if the application is inadequate or not prepared in accordance with the regulations. The founder of the business must be informed in writing and given specific reasons by the business registration authority if it declines to register the business. The business could make its own submissions or hire business lawyers in law firm in Vietnam to help with them. 

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How an International Organization Could Set up Branch Office in Vietnam?

How an International Organization Could Set up Branch Office in Vietnam?

An unfamiliar business substance or an unfamiliar dealer is permitted to set up a branch office in Vietnam to direct business exercises.

A branch in Vietnam is distinct from a representative office in that it is granted the authority to carry out business activities and generate revenue. While a foreign-owned company established in Vietnam exists independently, a branch is dependent on the foreign business entity that established the branch. The establishment of a branch office in Vietnam will be approved by the Vietnam Department of Industry and Trade, and the Vietnam Ministry of Planning and Investment will be the state agency in charge of coordinating company formation in Vietnam.

In particular, the term "Branch" refers to a subsidiary unit of a foreign business entity that has been established in accordance with Vietnamese law to be able to enter into contracts and engage in the purchase and sale of goods and other commercial activities in accordance with its license for establishment granted in accordance with Vietnamese law and any international treaty to which the Socialist Republic of Vietnam belongs.

The establishment license must be applied for and obtained by the Branch; and have a seal with the branch's name on it.

1. Rights of the Branch in Vietnam

-To rent offices and to lease or purchase the equipment and facilities necessary for the operation of the branch.

-To recruit Vietnamese and foreign employees to work for the branch in accordance with the law of Vietnam.

-To enter into contracts in Vietnam in accordance with the activities stated in the license for establishment of such branch and in accordance with the Vietnam Law.

-To open Vietnamese dong and foreign currency accounts at banks which are licensed to operate in Vietnam.

-To remit profits abroad in accordance with the law of Vietnam.

-To have a seal bearing the name of the branch in accordance with the law of Vietnam.

-To conduct activities being the purchase and sale of goods and other commercial activities consistent with its license for establishment in accordance with the law of Vietnam and any international treaty to which the Socialist Republic of Vietnam is a member.

2. Requested Conditions to Set Up a Branch Office in Vietnam

An unfamiliar organization which has viability business exercises will be permitted to open branch office in Vietnam in the event that this organization has genuine interest to open the market in Vietnam and meet a few circumstances as underneath:

-Being a trader recognized by the law of the country where it has been lawfully established or made its business registration;

-Having been operating for at least five years after its lawful establishment or business registration.

3. Issuance the Certificate of Branch:

The Department of Industry and Trade Department will carry out the issuance of the Certificate of Branch once the foreign company satisfies all Vietnam legal requirements.

The responsible period will be inside 20 working-days after the date of presenting the full substantial records as mentioned.

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Forms of Disputes and Methods of Resolution in Vietnam

Forms of Disputes and Methods of Resolution in Vietnam

Dispute in Vietnam could arise between parties to a business transaction, such as the government of Vietnam and foreign investors, or between nations implementing international treaties.

Vietnam's market economy developed in tandem with a significant increase in the breadth and depth of its economic ties, which have made Vietnam an important component of the global supply chain. Vietnam providers could offer the labor and products to the world and the unfamiliar provider could likewise trade their labor and products to Vietnam market. Further, as the Vietnam market opens up, unfamiliar financial backers could put through different types of interests in Vietnam for example gain values in Vietnam organizations, lay out business inVietnam. Disputes that have grown in size and complexity during this process are an inevitable outcome.

The majority of people should agree that disagreements should be interpreted as disagreements, inconsistencies, or conflicts of interests, rights, and responsibilities between parties in economic relations at various levels. Accordingly, economic disputes can have the following basic forms:

-Disputes in business are between the participants in a business transaction including investments, production to consumption of products or performance of services on the market for profit purposes i.e. professional and product liability, debt disputes over a business transaction, franchise disputes, intellectual property disputes, and disputes over contract for supply of goods or services…

-Disputes between foreign investors with Vietnam government agencies, arising in the implementation of the BTO, BT, BOT, and the implementation of international agreements on promotion and protection bilateral and multilateral investment i.e. government policy and policy measures, concession to water and sewerage, power or energy supply, project or contract payment…

-Disputes between countries in the implementation of the international bilateral and multilateral agreements.

After taking into account a variety of factors, including cost, time, and the complexity of the disputes, the parties involved in disputes in Vietnam may consider resolving the issues through negotiation, mediation, arbitration, or litigation. In Vietnam, a litigation law firm with skilled dispute lawyers in Hanoi, Danang and Ho Chi Minh City should be consulted for appropriate dispute resolution advice.

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How Really does Debate Settlement System of WTO Work

How Really does Debate Settlement System of WTO Work?

The dispute settlement procedures used by the World Trade Organization (WTO) are based on the GATT 1947 dispute settlement rules, which have been in place for nearly 50 years. Finding a positive solution to the dispute is the fundamental goal of this dispute resolution method. Because Vietnam is a member of the World Trade Organization, it may use the WTO's dispute settlement mechanism in disputes with other WTO members.

The parties to a dispute at the World Trade Organization (WTO) will first hold consultations to come up with a mutually agreed-upon solution to the dispute (Consultation – the stage of mediation). Third parties, who are members with a significant interest and desire to participate in the dispute resolution process, may participate in each case if they feel they have a significant interest in the case and should be considered by the panel. On account of a fruitless request, a board of 3 to 5 individuals will be laid out and entrusted with looking at a specific issue in debate based on WTO rules refered to by the petitioner's country.

According to Article 12.3 of the DSU, the first thing a panel to review the complaint must do is establish a timetable for its proceedings. The contents of Article 12 and Annex 3 of the DSU are typically covered by the panel procedure, which allows for some flexibility to guarantee the quality of the report without delaying the proceedings. The parties can be more proactive in presenting evidence, bases, and arguments in their submitted documents by understanding the contents and deadlines of a timetable.

The panel will enter the internal discussion phase (deliberation) following the hearings to evaluate the assessment of relevant legal and practical issues in accordance with WTO regulations. The deliberation must be kept secret. The parties to the dispute were not present when these reports were written; rather, they were written based solely on the information that was provided and the remarks that were made earlier. Individual assessments of hearers introduced in a board report will exclude the names of speakers of such sentiments.

Within two weeks of the panel's conclusion of the mid-term review, the final report will be sent to the dispute parties. Regularly, every report of the board has extremely huge substance, to work with the investigation of audit by the redrafting body and to cite case regulation, the report should show the chapter by chapter list and sections which are discrete numbered in the request for the report. After the DSB adopts a panel report, the dispute resolution process will immediately proceed to the implementation stage if there is no appeal. The case will be reviewed at the appellate level if there is an appeal.

As a member of the World Trade Organization, Vietnam must be well-versed in the dispute resolution process and fully prepared for disputes with other WTO members in international trade disputes.

ANT Lawyers have Litigation and Dispute lawyers in Hanoi, Da Nang and Ho Chi Minh City that help clients dealing with dispute resolution and alternative dispute resolution in Vietnam.

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How Dispute Lawyers in Hanoi Could Help?

How Dispute Lawyers in Hanoi Could Help?

ANT Lawyers – A law firm in Vietnam, could assist clients on dispute resolution matters throughout Vietnam.

We have dispute lawyers in Hanoi who are qualified and have experience helping clients resolve disputes in Vietnam.

We have represented clients in disputes involving a variety of industries, including disputes involving international trade, commercial transactions, partnership or shareholder agreements, property sales and purchases, real estate, intellectual property, banking and finance, and maritime matters.

We are able to provide our clients with appropriate and adaptable solutions to their problems thanks to our knowledge, experience, and comprehension of Vietnamese culture. Our dispute lawyers in Hanoi also help clients through the various stages of litigation at Vietnam's national or provincial courts, arbitration centers, and courts of appeal.

Our dispute attorneys in Hanoi are well-trained and certified internationally in the US and EU, and they have adapted their skills to Vietnamese cultures to assist clients in resolving conflicts without a formal proceeding in order to save money, time, and maintain the relationship between the disputed parties. If it is at all possible, we recommend alternative dispute resolution, such as mediation.

Our dispute resolution practice at ANT Lawyers helps our clients with the following:

Negotiation: reviewing relevant contracts and documents, advising possible courses of action and negotiating with relevant parties before initiating the legal proceeding.

Litigation and legal representation: representing clients before Vietnamese courts and other Vietnamese authorities.

Arbitration: advising on choice of arbitration, drafting arbitration clause, and representing clients for recognition and enforcement of foreign arbitral awards.

Alternative proceedings: certain alternatives may be available for dispute resolution in Vietnam.

ANT Lawyers have litigation and dispute lawyers in Hanoi, that help clients dealing with dispute resolution and alternative dispute resolution in Vietnam.

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