Vietnam’s Law on Competition came into effect on July 1, 2019, replacing the 2004 version of the law. In June 2018, Vietnam passed the new regulation, which focuses on competition restraining agreements, market dominance, economic concentration, and unfair practices. Scope of the law The new law has expanded its scope and now includes both Vietnamese and foreign […]
QUESTION ONE – What are the most common structures used when international clients want to form a company in your jurisdiction? Any examples? The most common structure is the simplified stock corporation (SAS). QUESTION TWO – Please detail some of the favourable and unfavourable legislation that businesses considering establishing a presence in your jurisdiction should […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Carlos Rodriguez of The Back Office Solution. Carlos has joined IR as our exclusive Accounting Services Member in Colombia. TBO provides end-to-end backoffice services with cloud accounting and special landing processes in order to avoid the physical presence of the foreign […]
Vietnam’s land use rights can be complicated for first time business investors. In Vietnam, land is collectively owned by people and administered by the government on their behalf. Therefore, under such a system, property owners cannot have full and legal ownership of land. Their rights are limited to land use rights permitted within the law. […]
Vietnam has specific regulations on maternity leave that are unique to the country. Overall, Vietnam’s maternity laws are employee friendly and are set in place to ensure that employees are protected during and after child-bearing. A solid understanding of the law is needed for foreign-invested enterprises to plan effectively within the country. In May 2013, […]
QUESTION ONE – What are the most common structures used when international clients want to form a company in your jurisdiction? Any examples? BV or SRL The BV or SRL requires a minimum of one shareholder and no share capital. Owners must guarantee all activities for at least three years and a financial plan covering […]
Foreign contractors are subject to taxes on payments for work done in Vietnam based on the contracts signed with a Vietnamese partner in the form of the foreign contractor tax (FCT). FCT is not a separate tax, but typically comprises a combination of value added tax (VAT) and corporate income tax (CIT), or personal income tax (PIT) for the income of foreign individuals. […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Jill Santos-Cua of JSC & Co. Jill has joined IR as our exclusive Accounting Services Member in Philippines. Our mission at Santos-Cua Accounting, Auditing, and Consulting Firm (SANTOS-CUA AAC Firm) is to do service to the clientele where we can be considered […]
QUESTION ONE – What are the most common structures used when international clients want to form a company in your jurisdiction? Any examples? Foreign companies investing in the U.S. often form either a C corporation or a limited liability company (LLC) that elects to be taxed as a C corporation. The corporate structure provides distinct […]
Revenue’s Manual Tax and Universal Social Charge treatment of income arising from having or exercising of the public office of director of an Irish incorporated company has been updated to include a new paragraph (1.1) “Payments to Directors”. This paragraph outlines that PAYE must be operated on all payments to directors, even if the nature […]
QUESTION ONE – What are the most common structures used when international clients want to form a company in your jurisdiction? Any examples? The legal structures according to the Qatari Commercial Law are the following: Joint Liability Company Limited Partnership Joint Venture Company Public Shareholding Company Private Shareholding Company Partnership Limited by Shares Limited Liability […]
Terminating an employee can be challenging for foreign investors in Vietnam. Vietnamese labour law is generally considered employee friendly and the termination process must be based on statutory grounds, subject to formal requirements and procedures. The Vietnamese labour law applies to all employers working in Vietnam under labour contracts regardless of whether such employees are […]