Legal Document Updates in English (39/2015)

PAYMENT OF TRANSACTION OF FOREIGN CURRENCY TRANSACTION
MUST NOT EXCEED TWO WORKING DAYS
 

In accordance with the Circular No. 15/2015/TT-NHNN dated October 02, 2015 of the State Bank of Vietnam guiding on foreign exchange transactions of Credit Institutions that are permitted to engage in foreign exchange transactions, parties shall decide on payment of transaction for spot transaction, spot transaction on swap transaction but it must not exceed two working days since the transaction is performed.

Payment of transaction forward transaction, forward transaction on swap transaction is the last day of the transaction term; if the date of payment is on the weekend or holidays, it shall be the following day. Customers’ proposals of using Vietnam dong to purchase foreign

FROM JULY, 2015, LICENSING MARINE RESEARCH FOR FOREIGN ORGANIZATIONS
AND INTERNATIONAL ORGANIZATIONS
 

The National Assembly has just passed the Law No. 82/2015/QH13 dated June 25, 2015, takes effect on July 01, 2016, on Marine and Island Resources and Environment defines to license of scientific research within Vietnam’s maritime zones for foreign organizations and individuals.

To conduct scientific research within Vietnam’s maritime zones, a foreign organization or individual must have the legal entity status as prescribed by the law of the country where it is established, for foreign organizations; being an inter-governmental organization, for international organizations; or having full civil act capacity as prescribed by the law of the country of which he/she is a citizen, for foreign individuals; wish to conduct scientific research independently or in cooperation with the Vietnamese side; conduct scientific research for peaceful purposes; causing no harm to national sovereignty or national defense and security activities of Vietnam; causing no pollution to the marine environment; and causing no obstruction to lawful activities of organizations and individuals within Vietnam’s maritime zones and submit a complete dossier for licensing as prescribed…

PREFERENTIAL TREATMENT IN EDUCATION FOR CHILDREN OF
PEOPLE DEVOTE TO THE REVOLUTION
 

On September 28, 2015, the Ministry of Labor, War Invalids and Social Affairs issued the Circular No. 36/2015/TT-BLDTBXH guiding the application and procedures for preferential treatment in education for people devote to the revolution and their children, including, any children of people meritorious to the revolution who is studying at a preschool education institution, compulsory education institution, continuing education institution (applicable to students studying at secondary schools, high schools); a ethnic boarding school, a pre-college school, a gifted school or a school for disabled people under the national education system; any people meritorious to the revolution and their children who takes a course with duration of 01 year or longer at a vocational education institution or at a higher education institution under the national education system.

Accordingly, the Office of Labor, War Invalids and Social Affair shall manage and pay the benefits to students eligible for the preferential treatment. Annual benefits are benefits

SUPPLEMENT THE CASES ON THE DOCUMENT CEASE TO BE EFFECTIVE
 

On June 22, 2015, the National Assembly passed the Law No. 80/2015/QH13 on Promulgation of Legal Documents, within that, the most important contents is the supplementation on legal documents ceasing to be effective.

In particular, beside a legal document ceases to be effective in part or in whole such as its effective period specified therein expires; it is amended and supplemented by or replaced with another legal document which is promulgated by the same state agency; it is annulled by a document of a competent state agency, from July 01, 2016, when a legal document ceases to be effective, the documents detailing it also cease to be effective.

Joint circulars between ministries and ministerial-level agencies and directives of People’s Committees of all levels that are promulgated before the effective date of this Law continue to be effective until they are annulled by or replaced with other legal documents. The provisions on administrative procedures in legal documents promulgated

VISA EXEMPTION FOR OVERSEAS VIETNAMESE
 

Taking effect on November 15, 2015, the Decree No. 82/2015/ND-CP dated September 24, 2015 of the Government prescribing visa exemption for overseas Vietnamese and foreigners who are spouses or children of overseas Vietnamese or Vietnamese citizens, having a passport or an international travel document valid for at least 1 year; having papers proving eligibility; not falling into the cases subject to suspension from entry and exit.

A visa exemption paper is valid for no more than 5 years and expires at least 6 months prior to the expiry date of the holder’s passport or international travel document. Each person shall be granted a separate visa exemption paper. Children sharing passports with their parents shall share visa exemption papers with their parents.