Transforming a sole proprietorship into another business form can be an essential step for growth, better alignment with the business’s development, or compliance with legal requirements. This article outlines the different types of business transformation available for sole proprietors, including the necessary conditions, procedures, and documentation for each transformation. 1. What is a Sole Proprietorship? […]
A partnership is a popular business model where two or more individuals join together to run a business, sharing profits, losses, and responsibilities. In this model, each general partner is jointly and severally liable for the company’s obligations, which makes trust and cooperation among partners essential. This article outlines the rights, obligations, and conditions for […]
Establishing a representative office or branch in Vietnam offers significant opportunities, but there are cases where licenses may be denied. This article outlines the common reasons for refusals, helping foreign traders understand potential challenges and ensure compliance with local regulations. Legal basis Conditions for grant of branch or representative office establishment licenses Foreign traders can […]
Are foreigners allowed to own houses in Vietnam? Clause 1, Article 8 of the Housing Law 2023 stipulates that: “1. Subjects entitled to own houses in Vietnam include: a/ Domestic organizations and individuals; b/ Overseas Vietnamese as specified by the citizenship law; c/ Foreign organizations and individuals specified in Clause 1, Article 17 of this […]
Is it allowed to contribute capital by land use rights? Clause 1, Articles 34 of the 2020 Enterprises Law Enterprise stipulates that: “1. Contributed assets include VND, convertible foreign currencies, gold, land use right (LUR), intellectual property rights, technologies, technical secrets, other assets that can be converted into VND.” Thus, law allows capital contribution in […]
To legally invest and set up a business in Vietnam, foreign investors must not only comply with the general regulations for establishing a company but also the specific conditions for foreign investors. 1. Conditions for foreign investors contributing capital from the beginning of establishing the company Clause 1, Articles 22 of the 2020 Investment Law […]