Legal Document Updates in English (09/2015)

COMPENSATE AT LEAST 1.5 TIMES THE SALARY FOR EMPLOYEES
LOSING WORK CAPABILITY FROM 5%
 

Compensation to persons as victims of occupational accidents and diseases is at least 30 months of salary for employees losing work capability from 81% and over, or becoming fatal due to occupational accidents and diseases and at least 1.5 times the salary for employees losing work capability from 5-10% are the contents prescibed at the Circular No. 04/2015/TT-BLDTBXH dated February 02, 2015 of the Ministry of Labor, War Invalids and Social Affairs guiding the employer’s compensation, benefit and medical expenses for employees suffered from occupational accidents and diseases.

Employees losing work capability from 5% and over, or being fatal shall be entitled to benefits in occupational accident caused by employees themselves and accidents happen to employees on a back-and-forth traveling distance between their working place and home at a legitimate time. Within that, Benefit level is at least 12 months of pay for employees losing work capability from 81% and over, or becoming fatal due to occupational

FROM JULY 2015, DEALING IN REAL ESTATE MUST HAVE
A LEGAL CAPITAL OF VND 20 BILLION
 

According to the Law on Real Estate Business No. 66/2014/QH13 approved by the National Assembly on November 25, 2014, replacing the Law on Real Estate Business No. 63/2006/QH11, from July 01, 2015, organizations and individuals dealing in real estate are required to establish enterprises or cooperatives (below referred to as enterprises) and have a legal capital of at least VND 20 billion.

Organizations, households and individuals that irregularly sell, transfer, lease or hire-purchase small real estate are not required to establish enterprises but declare tax in accordance with law.

Another important content is regulation on guarantee in sale and hire-purchase of prospective houses. Accordingly, before selling or hire-purchasing prospective houses, investors of real estate projects must have their financial obligations for clients guaranteed by capable commercial banks when investors fail to hand over houses according to schedule committed to clients. In case the investor fails to hand over the house according to the committed schedule and the purchaser and the hirer may request, the guarantor

shall refund advance payment and other money amounts to clients under the concluded house sale, purchase, or hire-purchase contracts and guarantee contract. The State Bank of Vietnam shall publish the list of capable commercial banks providing guarantee in prospective real estate business.

Under this Law, individuals that are entitled to provide independent real estate brokerage services must possess real estate brokerage practice certificates, having full civil act capacity; Possessing a secondary education or higher diploma; Having passed real estate brokerage knowledge test and register to pay tax in accordance with the tax law. Real estate brokerage practice certificates will be valid for 5 years. Real estate brokerage certificates that have been granted before the effective date of this Law shall be legally valid for 5 years from the effective date of this Law; upon the expiration of this time limit, persons eligible for real estate brokerage certificates must fully satisfy conditions specified in this Law.

NOT YET HANDOVERED THE HOUSE, THE OWNER MUST PAY 70% CHARGES
 

On November 25, 2014, the National Assembly officially approved the Housing Law No. 65/2014/QH13, replacing the Housing Law No. 56/2005/QH11 with many new contents.

For owners of commercial housing projects, within 50 days from the date of handover of houses to purchasers or from the time when lessees make full payments as agreed upon, to request competent state agencies to grant certificates to house purchasers or lessees, unless the latter voluntarily carry out the procedures to apply for certificates.

Another significant content of this Law is regulation on Vietnam-based house ownership of foreigners. Specifically, foreign organizations and individuals permitted to enter Vietnam may only purchase, rent-purchase or receive as

donation or inheritance, and own no more than 30% of the number of apartments in a condominium. For individual houses, including villas and semi-detached houses, in an area with a population equivalent to a ward-level administrative unit, they may only purchase, rent-purchase or receive as donation or inheritance and own no more than 250 houses. Besides, foreign individuals may only own houses for no more than 50 years from the date they are granted the certificates and may enjoy extensions under regulations of the Government if they so wish. A foreign individual who is married to a Vietnamese citizen or an overseas Vietnamese is entitled to own houses in a stable and long-term manner.

MEDICAL ESTABLISHMENTS OPERATING AS ENTERPRISES
MAY DECIDE ON PRICE RATES
 

On December 15, 2014, the Government issued the Resolution No. 93/NQ-CP dated December 15, 2014 on a number of mechanisms and policies on medical development. Under this Resolution, medical examination and treatment establishments operating as enterprises may decide on their price rates. All units shall declare and post up service prices in accordance with regulations.

For public medical examination and treatment establishments and public medical universities, prices of medical examination and treatment services requested by patients and those of medical examination and treatment establishments shall be implemented under the principles of calculating all costs with accumulation. Heads of public medical units shall decide specific price rates within the price bracket jointly provided by the Ministry of Health and Ministry of Finance.

Public medical examination and treatment establishments may assign employees to work at the medical examination

TIME LIMIT FOR VOLUNTARY EXECUTION OF A JUDGMENT IS 10 DAYS
 

On November 25, 2014, the National Assembly issued the Law No. 64/2014/QH13 amending and Supplementing a Number of Articles of the Law on Enforcement of Civil Judgments. Under this Law, it amends on Time limit for voluntary execution of judgments. Specifically, the time limit for voluntary execution of a judgment is 10 days after the judgment debtor receives or is properly notified of, the judgment enforcement decision. In case of necessity to prevent judgment debtors from dispersing or destroying assets or otherwise shirking the judgment enforcement, enforcers may promptly apply measures specified in under this Law.

Another important content is regulation on judgment debtors who proactively paid part of court fees and fines, but suffer a prolonged difficulty-hit economic condition due to natural disasters, fire, accidents or illness which renders them unable to execute their remaining obligation part, or have accomplished feats, may be considered for exemption from execution of their remaining obligation part.