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In the bustling world of international trade, crafting a comprehensive sales contract is a pivotal step towards a successful partnership. Particularly in Vietnam, a dynamic and rapidly growing economy, the need for well-structured contracts is paramount. This article is about  how to create a sales contract in Vietnam , emphasizing key considerations and crucial clauses that are often overlooked. Understanding the Landscape Before delving into the details of drafting a solid sales contract in Vietnam and address the questions on how to create a sales contract in Vietnam, it’s essential to grasp the unique aspects of the market. Vietnam’s international trade has been on a consistent upward trajectory, with manufacturing, exports, and foreign investment flourishing. This booming environment presents a wealth of opportunities but also requires careful navigation through legal and contractual matters. Key Elements on How to Create a Sales Contract in Vietnam 1. Clear and Concise Defini...

Joint-stock company is a type of enterprise recognized by Vietnam law, besides other types being limited liability company, partnership and private enterprise. A joint-stock company has legal status from the date of issuance of the Certificate of Business Registration by Vietnam authority. It is not suitable for all investors to  set up a joint-stock company in Vietnam . Therefore, it is important to consult with  corporate lawyers in Vietnam  to learn the advantage of different forms of  companies to be set up in Vietnam  for the efficient management and purpose of the owner. Joint-stock company can issue shares According to the definition of the Law on Enterprises, a joint-stock company is an enterprise whose charter capital is divided into equal parts called shares. Shareholders of a joint-stock company can be organizations or individuals, and the minimum number of shareholders of the company is 03 people. There is no limit on the maximum number of shareholde...

When doing business in Vietnam, the business people find benefits to set up company as a separate legal entity for various purposes i.e. to have an entity to sign contract, open bank account, hire personnel and pay them properly, and to deduct expenses for tax optimization. The most popular form is to  set up limited liability company in Vietnam  (LLC). Dossiers to Set up Limited Liability Company in Vietnam -Application for business registration according to a uniform form prescribed by the competent business registration agency. -Draft of Company’s charter -List of members and accompanying documents below: For individual members: copy of ID card, passport or other legal personal identification For members that are organizations: copy of the Establishment Decision, Business Registration Certificate or other equivalent documents of the organization; Authorization document, ID card, passport or other legal personal identification of the authorized representative. For members th...

  On March 13, 2020, the State Bank issued Circular No. 01/2020/TT-NHNN providing guidance for the credit institutions, foreign bank branches to restructure the debt payment, exemption and reduction periods, charge, keep the debt group in support of customers affected by Covid-19 epidemic, which is an important legal grounds to support the economy. Accordingly, the debt group restructuring is carried out as follows: Debts which are restructured repayment term are the principal amount and/or interest (including the debt balance of debts within the scope of regulation of Decree No. 55/2015/ ND-CP of June 9, 2015 of the Government on the credit policy for agricultural and rural development (amended and supplemented)), which fully meets the following conditions: arising from lending activities, financial leasing; Arising the obligation to repay the principal and/or interest within the period from January 23, 2020 to the next day after 03 months from the date the Prime Minister announce...

The improvement in infrastructure system along with the preferential policies have stimulated investors to come to  set up business in Phu Quoc  and do company. Phu Quoc, an island in Kien Giang of Vietnam is in the top of three islands having tourism potential in Southeast Asia comparable to Phuket in Thailand and Bali in Indonesia. Phu Quoc has become a magnet for attracting huge investment flows from foreign investors in the area of real estate, entertainment, casinos, restaurant or food and beverage service business. Phu Quoc has temperate weather throughout the year. There are also fresh and friendly forest – sea ecology and the modern transport system on the island with international airport and international hospital. Moreover, many infrastructure projects and international schools are under construction, which are necessary and favorable conditions to invite and attract investors to the Pearl Island for doing business. Capital inflows to Phu Quoc have really exploded a...

  Along with the development of socio-economic activities, right to collect debt has become an asset right, hence its transferability is also recognized. Vietnam law recognizes debt as a commodity that can be traded through a debt trading contract. However, in order for the debt trading contract to be legally valid and ensure the rights and obligations are enforced, the parties need to pay attention to the provisions on the  debt trading contract. Firstly, in terms of the right to enter into a debt trading contract, according to the provisions of the Civil Code on the sale and purchase of property rights, the property right is the right to claim debt in Vietnam. Accordingly, the right to recover debt becomes the subject of a contract that the parties can transfer as if it were a special type of property. In addition, the debt trading contract aims to transfer ownership of the right of debt recovery and at the same time transfer the debt seller’s obligations to the debt purchas...

  Limited Liability Company is a form of enterprise which is established by contributing of members. A member shall be liable for the debts and other property obligations of the enterprise within the amount of capital that he/she has undertaken to contribute to the company. Limited liability companies are regulated by two types: One member  Limited Liability Company  is an enterprise owned by one organization or individual; Limited Liability Company with two or more members is an enterprise owned by organizations or individuals, in which the number of members shall not less than two members and not exceed fifty. Organizational and management structure of Limited Liability Company normally comprise of a Member’s Council, General Director or Director. A limited-liability company established by foreign investors may take the form of either: 100% foreign-owned enterprise (where all members are foreign investors); or; Foreign-invested joint-venture enterprise between foreign i...