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Legal Updates February 2019

March 5, 2019 | Legal Updates

New Circular providing Forms used in business registration On 8 January 2019, The Ministry of Planning and Investment issues the Circular No. 02/2019/TT-BKHD ("Circular 02") regarding on guidance on enterprise registration. This Circular will have amendments to the Circular No. 20/2019.

This circular provides new forms of documents used in business registration and business household registration such as:

- Forms of application for registration of private enterprise, one member limited liability compnay, limited liability company with two and more members, joint stock company, partnership.

- Forms of list of members of limited liability companies with two or more members, list of founding shareholders, list of members of partnerships, list of authorized representatives.

is circular provides new forms of documents used in business registration and business household registration such as:

- Forms of application for registration of private enterprise, one member limited liability compnay, limited liability company with two and more members, joint stock company, partnership.

- Forms of list of members of limited liability companies with two or more members, list of founding shareholders, list of members of partnerships, list of authorized representatives.

circular provides new forms of documents used in business registration and business household registration such as:

- Forms of application for registration of private enterprise, one member limited liability compnay, limited liability company wi

circular provides new forms of documents used in business registration and business household registration such as:

- Forms of application for registration of private enterprise, one member limited liability compnay, limited liability company wi

orms of application for registration of private enterprise, one member limited liability compnay, limited liability company with two and more members, joint stock company, partnership.

- Forms of list of members of limited liability companies with two or more members, list of founding shareholders, list of members of partnerships, list of authorized representative

orms of application for registration of private enterprise, one member limited liability compnay, limited liability company with two and more members, joint stock company, partnership.

- Forms of list of members of limited liability companies with two or more members, list of founding shareholders, list of members of partnerships, list of authorized representative

orms of application for registration of private enterprise, one member limited liability compnay, limited liability company with two and more members, joint stock company, partnership.

- Forms of list of members of limited liability companies with two or more members, list of founding shareholders, list of members of partnerships, list of authorized representative

This circular provides new forms of documents used in business registration and business household registration.

New degree providing on corporate bond issuance

On 04 December 2018 the Government issued Decree No. 163/2018/ND-CP (“Decree 163”) replacing the Degree 90/2011/ND-CP (“Decree 90”) regarding the issuance of corporate bonds. Decree will take effect on  February 22, 2019. Notable points are as following:

Organization, individuals relating to bond issuance activities by enterprise can issue corporate bond beside the joint stock companies and liability limited companies.

The face value of a bond issued to the domestic market shall be 100,000 (one hundred) Vietnamese dong or shall be the multiple of 100,000 (one hundred thousand) Vietnamese dong. Face value of bonds issued to international markets shall be subject to regulations of destination markets.

Bond buyers are Vietnamese or foreign organizations or individuals. Investors purchasing bonds shall carry out the self-assessment of level of risks arising from investments in bonds, restrictions on transaction of bonds to be bought and shall exercise responsible autonomy for their investment decisions.

New degree relating to immigration

On 01 February 2019 the Government issued Decree No. 17/2019/ND-CP (“Decree 17”) on amendments the Degree 07/2017/ND-CP (“Decree 07”) prescribing process and procedures for pilot issuance of electronic visa to foreigners entering Viet Nam. Decree will take effect from February 01, 2019 to February 01, 2021. Notable points are as following:

a) The List of countries of which citizens are eligible for pilot issuance of electronic visa:

No.

ICAO

NAME

1.

AUT

Austria

2.

ISL

Iceland

3.

BEL

Belgium

4.

PRT

Portugal

5.

BIH

Bosnia and Herzegovina

6.

BRA

Brazil

7.

QAT

Qatar

8.

AND

Andorra

9.

LIE

Liechtenstein

10.

MCO

Monaco

11.

HRV

Croatia

12.

EST

Estonia

13.

FJI

Fiji

14.

GEO

Georgia

15.

LVA

Latvia

16.

LTU

Lithuania

17.

MLT

Malta

18.

MKD

Macedonia

19.

FSM

Micronesia

20.

MEX

Mexico

21.

MDA

Moldova

22.

MNE

Montenegro

23.

NRU

Nauru

24.

PLW

Palau

25.

PNG

Papua New Guinea

26.

MHL

Marshall Islands

27.

SLB

Salomon Islands

28.

SMR

San Marino

29.

CYP

Cyprus

30.

CHE

Switzerland

31.

CHN

China

- Including Hong Kong SAR and Macau SAR passport holders

- Not apply to Chinese e-passport holders

32.

VUT

Vanuatu

33.

WSM

Western Samoa

34.

SRB

Serbia

35.

SVN

Slovenia

b) The List of border gates allowing foreigners to enter or exit by using electronic visas is added as follows:

- List of road border gates:

+ Tay Trang international border gate, Dien Bien province;

+ Na Meo international border gate, Thanh Hoa province;

+ La Lay international border gate, Quang Tri province;

- List of seaport border gates:

+ Duong Dong seaport border gate, Kien Giang province;

+ Chan May seaport border gate, Thua Thien – Hue province.

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