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Operation of insurance agents in credit institutions

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On 31 December 2019, the State Bank issued Circular No. 37/2019/TT-NHNN on guiding credit institutions and branches of foreign banks to act as insurance agents for insurance enterprises. (“Circular 37/2019“). Circular 37/2019 takes effect on 02 March 2020. Accordingly, a credit institution as  insurance agents may conduct the following activities: Client referral: the credit institution may refer a client […]

Long-term exclusive life insurance agency agreement between Dai-ichi Life Vietnam and Mai Linh Group

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GV Lawyers acted as sole legal advisor for the exclusive cooperation between Dai-ichi Life Insurance Vietnam Co. Ltd (Dai-ichi Life Vietnam) and Mai Linh Group Corporation (Mai Linh Group) to develop an exclusive network in promoting the life insurance for 15 years. By having cooperation between the qualified life insurance products of Dai-ichi Life Vietnam […]

Amending the provision on management of medical equipment

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On 01 January 2020, the Government issued Decree 03/2020/ND-CP amending and supplementing Article 68 of Decree No. 36/2016/ND-CP dated 15 May 2016 on management of medical equipment amended and supplemented by the Governmental Decree No. 169/2018/ND-CP dated 31 December 2018 amending and supplementing a number of articles of Decree No. 36/2016/ND -CP dated 15 May […]

Vietnam company Law

Vietnam company Law

In recent years, Vietnam’s corporation law has expanded significantly. Limited liability corporations (LLCs) can now be formed easily by foreign investors. What are the types of companies in Vietnam? A corporation in Vietnam is the same as one in many other nations. It is incorporated as a company with its own name, property, a head […]

07 compulsory standards applying a remote digital signing model

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On 05 December 2019, the Ministry of Information and Communications issued Circular 16/2019/TT-BTTTT (“Circular 16”) on promulgating the list of mandatory standards applicable on digital signatures and digital signature certification services under the digital model on mobile devices and remote digital signatures. Circular 16 will take effect from 01 April 2020. Accordingly, standards applicable to […]

4 Procedures of consulting and drafting contracts

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Basically, the procedure of consulting and drafting contracts shall be as follows: Firstly, receiving information and requests of the client. Accordingly, not only for services of consulting and drafting contracts, the receipt of information and requests of the client is considered as the first step for information exchange between Lawyers and the client. The receipt of information is […]

Tax debt relief, elimination of penalties and late payment of taxes within 3 years from

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On 26 November 2019, the National Assembly issued Resolution No. 94/2019/QH14 on tax debt relief, elimination of penalties and late payment of taxes of taxpayers who are unable to fulfil the tax to the State budget (“the Resolution No. 94”). The Resolution takes effect from 01 July 2020 and is implemented within 3 years from […]

Staff Promotion Announcement – January 2020

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31 December 2019, Global Vietnam Lawyers (GV Lawyers) has promoted a new Senior Associate and three new Associates, effective as of 1 January 2020. The promotions will reflect GV Lawyers’ strategy of attracting and retaining the most talented and committed people, offering a range of complementary services to our clients covering all their legal needs […]

Some new regulations in insurance business activities

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On November 01, 2019, the Government issued Decree 80/2019/ND-CP (Decree 80) amending and supplementing Decree 73/2016/ND-CP and Decree 98/2013/NĐ-CP on the insurance business field. Accordingly, Decree 80 amends and supplements some contents as follows:  1. Insurance auxiliary services Insurance auxiliary services are an integral part of insurance business activities recognized in Law on insurance business and […]

Regional minimum wages in 2020

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On November 15, 2019, the Government issued Decree 90/2019/ND-CP, prescribing regional minimum wage levels applicable to employees working under labor contracts. Accordingly, from January 01, 2020, regional minimum wages increase by VND 150,000 – 240,000/person/month. According to the Decree, regional minimum wage levels applicable to employees working in enterprises are as follows: Region I: VND […]

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