Foreign Investors Must Open Indirect Investment Capital Accounts in Vietnam
The requirements for foreign investors regarding the opening and use of indirect investment capital accounts in Vietnam have been updated in a draft regulation, replacing prior rules under Circular No. 05/2014/TT-NHNN. Below are the key highlights: Mandatory Account Requirements Foreign investors participating in indirect investment activities in Vietnam must comply with the following rules: 1. Single Account Rule: Foreign investors are required to open one (1) indirect investment capital account denominated in Vietnam Dong (VND) at a licensed bank to perform collection and payment transactions. Exceptions to this requirement are outlined in Clause 2 of the draft regulation. Permissible Cases for Multiple Accounts Foreign investors are permitted to open multiple indirect investment capital accounts in the following circumstances: 1. Foreign Securities Companies: Such companies may open two (2) indirect investment accounts corresponding to two (2) securities trading codes, specifically: One…
The National Assembly Standing Committee approves the reduction of VAT of 8% from July 01, 2023
The General Secretary of the National Assembly issues the Notice No. 2298/TB-TTKHQ on the conclusion of the National Assembly Standing Committee on projects under the National Assembly's Resolution on reduction…
Requirements for the Consolidation, Merger, and Division of Enterprises in Vietnam
Consolidation, merger, and division of enterprises in Vietnam are regulated by specific legal frameworks, particularly Decree 23/2022/ND-CP. These processes are essential for improving corporate structure, facilitating strategic growth, and optimizing…
Instructions for Tax Filing, Exemptions, and Reductions for Foreign Transportation Companies Operating in Vietnam
Below are the guidance from the General Department of Taxation on the tax declaration, exemption, and reduction for foreign transport companies in Vietnam Guidance on tax declaration, exemption, and reduction…
Key requirements for foreigners to work legally in Vietnam
1. Requirements for foreigners to work in Vietnam Requirements for foreigners to work in Vietnam under Article 151 of the Labor Code 2019 are as follows: - A foreign employee means a person…
How to start a business in Vietnam: A comprehensive guide
Vietnam, a vibrant nation in Southeast Asia, offers significant opportunities for aspiring entrepreneurs, with its rapidly growing economy, skilled workforce, and advantageous geographical location. However, the complexities of establishing a…
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