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Options for handling inactive companies: Dissolution, Bankruptcy or Transfer?

In the structure of many Vietnamese conglomerates today, it is not difficult to identify the existence of subsidiary companies that have ceased operations long ago  –  perhaps remnants of failed investment projects, business lines that have been phased out, or simply the result of incomplete restructuring processes. These legal entities continue to exist on paper, consuming annual maintenance costs, and in many cases, accumulating tax or social insurance debts that go unnoticed until the problem becomes serious.   The question arises: how should these legal ‘zombies’ be handled? Vietnamese law provides three main pathways  –  voluntary dissolution, recovery/bankruptcy proceedings, and transfer of capital contributions or shares. Each option has different conditions for application, implementation procedures, and legal consequences. Choosing the wrong option not only wastes resources but may also lead to legal liability for the legal representative. This article ...

Declaration of temporary residence for foreigners entering and residing in Vietnam

In the context of international economic integration and the increase in cross-border labor and trade exchange, the number of foreigners entering and residing in Vietnam is steadily rising. To ensure immigration management, social order and safety and statutory compliance, Vietnamese law mandates the obligation to declare temporary residence for foreigners during their stay in Vietnam. Proper adherence to these regulations not only assists state management agencies in monitoring the residential status of foreigners but also helps enterprises, organizations, and individuals mitigate legal risks arising from the hosting and residence of foreign nationals.  1. The obligation to declare temporary residence upon entering and residing in Vietnam Pursuant to Article 33.1 of the Law on Entry, Exit, Transit, and Residence of Foreigners in Vietnam 2014 (amended and supplemented in 2019, 2023 and 2025), foreigners entering and residing in Vietnam must, through the person directly managing or op...

Conditions for foreign investors to operate Homestay businesses in Vietnam

The provision of homestay services is no longer a new business sector. However, in order for foreign investors to conduct such business activities in Vietnam, they must satisfy all applicable conditions as prescribed by law.   In this article, the author provides legal analysis and opinions based on the prevailing laws and regulations for reference purposes. Please note that this article does not constitute legally binding advice and should not be relied upon as a basis for obtaining approval from competent authorities. Accordingly, readers are advised to consult with the relevant authorities prior to implementing any project to ensure full compliance with applicable laws.   I. CONTENTS UNDER VIETNAM’S WTO COMMITMENTS   According to Vietnam’s WTO Schedule of Commitments, Vietnam has only committed to market access for foreign investors in the following sectors:   9. TOURISM AND TRAVEL RELATED SERVICES    A. Hotel and restaurant including   Lodging services (CPC 6411...

Procedures for Establishing a Preparatory Committee for the Establishment of an Association under Decree No. 126/2024/ND-CP

In the process of establishing an association under Vietnamese law, many organizations tend to focus primarily on preparing the application dossier for establishment while overlooking a fundamental preliminary step: the establishment of a Preparatory Committee for the establishment of an association. However, pursuant to Decree No. 126/2024/ND-CP, this is not merely a procedural step but a prerequisite condition for the association to be considered for establishment approval.   In accordance with Decree No. 126/2024/ND-CP, the establishment of a Preparatory Committee must be reviewed, commented on, and formally recognized by a competent state authority. The Preparatory Committee acts as the representative body of the founding members, responsible for preparing the application dossier and organizing the founding congress of the association.   Accordingly, a proper understanding and compliance with the procedures for establishing the Preparatory Committee are essential to ensuring both...

Apolat Legal has been recognized in the Asian Legal Business (ALB) Intellectual Property Rankings 2026

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We are delighted to announce that Apolat Legal has been recognized in the prestigious Asian Legal Business (ALB) Intellectual Property Rankings 2026 for Vietnam. This accolade stands as a testament to the enduring strength of our Intellectual Property practice, highlighting our commitment to guiding clients through complex IP, technology, and commercial matters within today’s rapidly evolving business landscapes. We extend our deepest gratitude to our clients for their unwavering trust and support, and extend our congratulations to the IPTech team on this great achievement. Read more about the rankings here: https://lnkd.in/gnh-yJR8 Nguồn: https://ift.tt/lUxzSew Map: https://goo.gl/maps/JbCF1FiWPuD2Jsnx6 Thông tin: https://www.google.com.vn/search?q=Apolat+Legal&kponly=&kgmid=/g/11jkvqgmw_

Procedure for organizing a General Meeting of Shareholders under the Law on Enterprises 2020

The General Meeting of Shareholders is the highest decision-making body of a joint stock company. Therefore, organizing a meeting in strict compliance with the order and procedures prescribed by law is of particular importance to the legality of the resolutions passed. The article below outlines the basic steps in the procedure for organizing a General Meeting of Shareholders under the Law on Enterprises 2020.     Pursuant to Clauses 1 and 2 of Article 139 of the Law on Enterprises 2020, meetings of the General Meeting of Shareholders consist of two types, namely annual meetings and extraordinary meetings. Accordingly, the General Meeting of Shareholders must convene an annual meeting once every year, and such meeting must be held  within 04 months  from the end of the financial year. Where necessary, the Board of Directors may decide to extend the time for convening the annual meeting, but  not beyond 06 months  from the end of the financial year, unless otherwise provided in the com...