Legal Document Updates in English (22/2014)

ENTERPRISES ENGAGED IN EMPLOYMENT SERVICE ACTIVITIES
MUST DEPOSIT VND 300 MILLION
 

In accordance with the Decree No. 52/2014/ND-CP dated May 23, 2014 of the Government defining conditions, procedures for grant of permits for employment service activities of enterprises engaged in employment service activities, enterprises must deposit VND 300 million in a commercial bank where enterprises open its main account to deal with the risks and compensations in the course of operating job service activities of enterprises.

Besides, location of head offices, branches of enterprises must be stable and they must be located for three years or longer; If the offices are under the ownership of person who registers the business registration certificate, the dossier of application for permits must contain all valid papers; If the offices are rented, it must contain the house lease contract with the validity of three years or longer; at the same time, enterprises must have the specialized organizational structure to implement employment service activities must have three officials of collegial or higher degree, who have full civil act capacity and have clear backgrounds.

To satisfy above conditions, permits for employment service activities shall be granted by the provincial/municipal

AUTHORIZED REPRESENTATIVES MUST POSSESSING
AT LEAST THREE YEARS OF EXPERIENCE
 

On February 14, 2014, the Ministry of Finance issued the Circular No. 21/2014/TT-BTC promulgating the Regulation on activities of authorized representatives for state capital invested in enterprises.

In particular, the most important contents are regulations are the standards and conditions for authorized representatives. Authorized representatives must satisfy the standards and conditions as: being a Vietnamese citizen permanently residing in Vietnam; having full civil act capacity; possessing good moral qualities and being physically fit for the post; possessing legal knowledge and a sense of law observance; possessing professional university or higher qualifications, ability and practical experience of three or more years in corporate finance management, business and organization of corporate management relevant to the requirements of the post of authorized representative. In foreign-involved enterprises,

MANAGEMENT OF THE BALANCE OF
INTERNATIONAL PAYMENTS OF VIETNAM
 

In accordance with the Decree No. 16/2014/ND-CP dated March 03, 2014 of the Government On management of the balance of international payments of Vietnam, the Ministries of Planning and Investment; Finance; Industry and Trade; Labor, War Invalids and Social Affairs and other individuals and organizations that provide information to serve the formulation, analysis and forecasting of the balance of international payments of Vietnam shall be responsible for making general statistical report on transactions between residents and non-residents over a given period (Balance of international payments of Vietnam.

Types of information provided by ministries include socio-economic development undertakings, policies, plans and strategies of Vietnam in different periods related to import and export of goods, services, labor, attraction of foreign investment, offshore investment; short-, medium- and long-term foreign loan borrowing and repayment, and the implementation of such undertakings, policies, plans and strategies; information required in report forms; other information at the request of the State Bank to serve the

IMPORT CONDITIONS OF AUTOMOBILES AND MOTORCYCLES
FOR REPATRIATED OVERSEAS VIETNAMESE CITIZENS
 

On February 12, 2014, the Ministry of Finance issued the Circular No. 20/2014/TT-BTC prescribing the import of automobiles and motorcycles as personal effects of overseas Vietnamese who are permitted to register permanent residence in Vietnam.

Within that, the most important contents are  the import of automobiles and motorcycles as personal effects of overseas Vietnamese who are Overseas Vietnamese citizens who hold a valid foreign passport or foreign passport substitute and have been permitted to register permanent residence in Vietnam in accordance with current Vietnamese laws and the citizens who hold a Vietnamese passport and permanent residence paper granted by a foreign country and have been permitted to register permanent residence in Vietnam in accordance with current Vietnamese laws. 

Accordingly, imported automobiles must have been registered for circulation for at least 6 months in the country where the overseas Vietnamese citizen resides or works, and have run a distance of at least 10,000 km by the time of arrival at a Vietnamese port. And imported automobiles

DEVELOP SCIENCE AND TECHNOLOGY INFORMATION ACTIVITIES
 

On February 18, 2014, the Government issued the Decree No. 11/2014/ND-CP science and technology information activities, encourage individuals and organizations to cooperate in and finance the formation and development of the national science and technology database.

The national research and training information network is a non-profit private telecommunications network connecting the domestic research and training community and connecting this community with regional and international research and training communities. The national research and training information network must prioritize connections of areas where are concentrated scientific research and