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Update on Regulations on Beneficial Ownership from 23 July 2026

The Ministry of Finance has issued Decree No. 296/2026/ND-CP dated July 23th, 2026, which amends, supplements, and tightens regulations concerning the beneficial ownership of enterprises.   1. Definition and Identification of “Beneficial Owner”   A beneficial owner of an enterprise is one or more individuals who directly or indirectly ultimately own or exercise actual control over such enterprise, excluding individuals representing state capital in the enterprise.   A beneficial owner is one or more individuals identified as follows:   An individual who directly or indirectly, or both directly and indirectly, owns 25% or more of the charter capital or 25% or more of the total voting shares of the enterprise. An indirect beneficial owner is an individual who owns 25% or more of the charter capital or 25% or more of the total voting shares of the enterprise through organizations or other legal arrangements. Where a group of individuals who have a family relationship as pre...
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Associate – Investment & Corporate (IC)

Apolat Legal is a full-service commercial law firm practicing in Viet Nam. Our Clients rely on us to provide them with innovative commercial and legal advice, which is of the highest international standard and practical in a Vietnamese context. As a dynamic law firm committed to raising the standards of the legal sector, we promote an open and creative working environment, a healthy work-life balance, while maintaining a strong focus on the responsibility and commitment of our lawyers to continuous improvement. Apolat Legal is looking for an Associate in the field of Investment & Corporate  to participate in our dynamic and enthusiastic team. The successful candidate will be working at Apolat Legal’s Ho Chi Minh City office. The job description and requirements are as follows: 1. Job Description An Associate needs to handle multiple clients, which involves a lot of responsibilities. Here is a list of some primary responsibilities that need to be carried out by an Associate at A...
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Initial Foreign Exchange Transaction Registration for Outbound Investment Activities Not Subject to Outbound Investment Registration Certificate

In 2026, Circular 34/2026/TT-NHNN established a specific procedure for investors conducting outbound investment activities that are not required to obtain an  Outbound Investment Registration Certificate  ( “OIRC” ).   Although not required to carry out the procedure for obtaining an Outbound Investment Registration Certificate, investors must pay particular attention to the initial foreign exchange transaction registration procedure prior to transferring capital abroad, as follows:   1. Cases Not Required to Obtain an OIRC (Article 18, Decree 103/2026/ND-CP)   – Outbound investment projects with an outbound investment capital of less than VND 7 billion and not falling under conditional outbound investment sectors as prescribed in Clause 1, Article 41 of the Law on Investment. – Outbound investment projects related to national defense and security, implemented pursuant to agreements between the Government of Vietnam and foreign governments as prescribed in Po...
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56 conditional business lines removed under Resolution No. 66.17/2026/NQ-CP

On 15 May 2026, the Government issued  Resolution No. 66.17/2026/NQ-CP  (“ Resolution 66.17 ”) on the removal and amendment of conditional business lines set out in Appendix IV to the Law on Investment 2025. Effective from  1 July 2026 to 28 February 2027 ,  the Resolution marks a significant step in Vietnam’s ongoing reform of its investment and business regulatory framework.   1. Removal of 56 conditional business lines   Pursuant to  Resolution 66.17 , the number of conditional business lines has been reduced from  198 to 142 ,  representing the removal of   56 conditional business lines .   The reduction primarily covers service sectors, including:   Finance, accounting and commerce:  business services relating to tax procedures; customs brokerage services; insurance auxiliary services; commercial assessment services; temporary import for re-export of goods subject to special consumption tax; temporary import for re-export of frozen food; temporary import for re-export of ...
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A Comprehensive Guide to Document Retention Periods for Enterprises in Vietnam

Under Vietnamese law, there is no single, uniform retention period applicable to all corporate records, documents, and data. Instead, document retention obligations are governed by various sector-specific regulations, with different retention periods applying depending on the nature, purpose, and legal function of each document.   For non-state economic organizations, documents generated during the course of business operations are classified as private archival documents under the Law on Archives 2024 . Pursuant to this Law, enterprises are responsible for organizing and maintaining their archival systems in a manner appropriate to their operational needs, internal governance framework, applicable laws, and relevant international practices. Accordingly, while certain categories of documents are subject to mandatory statutory retention requirements, enterprises retain considerable discretion in establishing internal document management and retention policies.   In practice, determini...
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