{"id":3138,"date":"2024-09-22T17:04:24","date_gmt":"2024-09-22T10:04:24","guid":{"rendered":"https:\/\/apluslaw.vn\/en\/?p=3138"},"modified":"2025-02-13T16:02:11","modified_gmt":"2025-02-13T09:02:11","slug":"business-law-in-vietnam","status":"publish","type":"post","link":"https:\/\/apluslaw.vn\/en\/research\/business-law-in-vietnam.html","title":{"rendered":"Vietnam Business Law"},"content":{"rendered":"<p><span style=\"font-weight: 400;\"><strong>The Business Law in Vietnam<\/strong> (Vietnam Business Law 2020) is one of the laws of great importance in the Vietnamese Economic Law system, contributing to promoting the development of a socialist-oriented market economy. In recent years, the Enterprise Law 2020 has made innovations and improvements to meet the goals and tasks in the country&#8217;s socio-economic development plan in the new period. We invite you to join <span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/apluslaw.vn\/en\/\"><strong>Apluslaw<\/strong><\/a> <\/span>to learn more about this Law through the article below.<\/span><\/p>\n<figure id=\"attachment_3181\" aria-describedby=\"caption-attachment-3181\" style=\"width: 800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-3181\" src=\"https:\/\/apluslaw.vn\/en\/wp-content\/uploads\/2024\/07\/foreign-investment-consultancy.png\" alt=\"foreign investment consultancy\" width=\"800\" height=\"600\" srcset=\"https:\/\/apluslaw.vn\/en\/wp-content\/uploads\/2024\/07\/foreign-investment-consultancy.png 800w, https:\/\/apluslaw.vn\/en\/wp-content\/uploads\/2024\/07\/foreign-investment-consultancy-300x225.png 300w, https:\/\/apluslaw.vn\/en\/wp-content\/uploads\/2024\/07\/foreign-investment-consultancy-768x576.png 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><figcaption id=\"caption-attachment-3181\" class=\"wp-caption-text\">Lawyer consulting on foreign investment for enterprise.<\/figcaption><\/figure>\n<h2><b>What\u2019s Business Law in Vietnam?<\/b><\/h2>\n<p><strong>The Business Law 2020<\/strong><span style=\"font-weight: 400;\"><strong> is one of the most important legal documents<\/strong> for the economic legal system of Vietnam. This law was promulgated by the National Assembly of the Socialist Republic of Vietnam on June 17, 2020 and took effect from January 1, 2021, replacing the Enterprise Law 2014. It was also amended and supplemented for the last time in 2022.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The <\/span><span style=\"font-weight: 400;\">Business Law 2020<\/span><span style=\"font-weight: 400;\"> operates by regulating the rights and obligations of owners, managers, and employees of enterprises in the process of establishment, organization, management, operation, and dissolution. This helps build trust between enterprises and customers. This is an important step in reforming and creating more favorable conditions for organizations and individuals to participate in business activities, while contributing to promoting the development of the Vietnamese economy.<\/span><\/p>\n<figure id=\"attachment_3143\" aria-describedby=\"caption-attachment-3143\" style=\"width: 800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-3143\" src=\"https:\/\/apluslaw.vn\/en\/wp-content\/uploads\/2024\/09\/business-law-in-vietnam-01.png\" alt=\"business law in vietnam 01\" width=\"800\" height=\"600\" srcset=\"https:\/\/apluslaw.vn\/en\/wp-content\/uploads\/2024\/09\/business-law-in-vietnam-01.png 800w, https:\/\/apluslaw.vn\/en\/wp-content\/uploads\/2024\/09\/business-law-in-vietnam-01-300x225.png 300w, https:\/\/apluslaw.vn\/en\/wp-content\/uploads\/2024\/09\/business-law-in-vietnam-01-768x576.png 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><figcaption id=\"caption-attachment-3143\" class=\"wp-caption-text\">Meaning of Vietnam Enterprise Law 2020.<\/figcaption><\/figure>\n<h2><b>Recent reforms of Vietnam business law<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The Enterprise Law 2020 has new regulations on enterprise management, aiming to increase transparency and accountability of parties involved in enterprise activities. Specifically, some important points of the new regulations include:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Enhancing transparency and fairness so that service users can easily access information about enterprises, creating a fairer competitive environment among enterprises.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reducing administrative procedures to help enterprises save time and costs when carrying out procedures related to enterprise management.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Focusing on protecting the rights of shareholders, ensuring that they participate in the enterprise management process in a fair and transparent manner.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Setting stricter requirements for corporate social responsibility, encouraging enterprises to participate in social activities, environmental protection and community development.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Focus on creating more favorable conditions for startups, from reducing initial investment capital to simplifying procedures for establishing and operating businesses.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">These new regulations help create a healthy and transparent business environment. At the same time, promote the sustainable development of the Vietnamese economy. This is also an advantage that creates great opportunities for businesses to expand their operations and participate in global competition.<\/span><\/p>\n<h2><b>Attractiveness of Vietnam\u2019s tax policy<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Vietnam is actively encouraging foreign investment by using tax policies to attract as many investors as possible. Tax law is a key component of business law in the country. Since January 2016, corporate tax has been set at 20%, with some exceptions for specific industries. Personal income tax is applied on a progressive scale, ranging from 5% to 35%. The standard VAT rate is 10%, though there are certain exemptions, and tariffs have been gradually reduced since Vietnam joined the WTO.<\/span><\/p>\n<figure id=\"attachment_3142\" aria-describedby=\"caption-attachment-3142\" style=\"width: 800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-3142\" src=\"https:\/\/apluslaw.vn\/en\/wp-content\/uploads\/2024\/09\/business-law-in-vietnam-02.png\" alt=\"business law in vietnam 02\" width=\"800\" height=\"600\" srcset=\"https:\/\/apluslaw.vn\/en\/wp-content\/uploads\/2024\/09\/business-law-in-vietnam-02.png 800w, https:\/\/apluslaw.vn\/en\/wp-content\/uploads\/2024\/09\/business-law-in-vietnam-02-300x225.png 300w, https:\/\/apluslaw.vn\/en\/wp-content\/uploads\/2024\/09\/business-law-in-vietnam-02-768x576.png 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><figcaption id=\"caption-attachment-3142\" class=\"wp-caption-text\">Vietnam&#8217;s VAT policy attracts many foreign investors.<\/figcaption><\/figure>\n<h2><b>Flexibility of corporate law in Vietnam<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The 2020 Enterprise Law of Vietnam offers a high degree of flexibility, making it easier for businesses to operate and grow. One of the key features is the simplification of administrative procedures, allowing companies to register and modify business details more efficiently. The law also provides greater autonomy for companies to decide on their internal structure, such as management and governance rules.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Additionally, the 2020 law improves transparency and protection for shareholders, giving them more rights to access information and participate in decision-making. It also allows businesses to quickly adapt to changes in the market by providing simpler processes for mergers, acquisitions, and dissolutions. This flexibility encourages a more dynamic business environment, making Vietnam an attractive destination for both local and foreign investors.<\/span><\/p>\n<h2><b>Protection of competition law in Vietnam<\/b><\/h2>\n<p><a href=\"https:\/\/www.tracuuphapluat.info\/2019\/10\/luat-canh-tranh-2018-tieng-anh-Competition-Law.html\"><span style=\"font-weight: 400;\">Vietnam\u2019s Competition Law<\/span><\/a><span style=\"font-weight: 400;\"> is designed to ensure a fair and level playing field for businesses, preventing anti-competitive practices such as monopolies, cartels, and abuse of market power. It aims to promote healthy competition, protect consumer interests, and support the overall development of the market economy. Key provisions include prohibiting unfair trade practices, controlling mergers that could lead to monopolistic dominance, and regulating anti-competitive agreements between companies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This competition protection aligns closely with the 2020 Enterprise Law, which emphasizes business transparency, accountability, and fair governance. The Enterprise Law provides a legal framework for business operations, while the Competition Law ensures that these operations do not undermine market fairness. Both laws work together to foster a competitive yet stable business environment, supporting long-term economic growth and attracting foreign investments. By combining corporate governance standards from the Enterprise Law with competition regulations, Vietnam creates a more sustainable and attractive business landscape.<\/span><\/p>\n<figure id=\"attachment_3141\" aria-describedby=\"caption-attachment-3141\" style=\"width: 800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-3141\" src=\"https:\/\/apluslaw.vn\/en\/wp-content\/uploads\/2024\/09\/business-law-in-vietnam-03.png\" alt=\"business law in vietnam 03\" width=\"800\" height=\"600\" srcset=\"https:\/\/apluslaw.vn\/en\/wp-content\/uploads\/2024\/09\/business-law-in-vietnam-03.png 800w, https:\/\/apluslaw.vn\/en\/wp-content\/uploads\/2024\/09\/business-law-in-vietnam-03-300x225.png 300w, https:\/\/apluslaw.vn\/en\/wp-content\/uploads\/2024\/09\/business-law-in-vietnam-03-768x576.png 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><figcaption id=\"caption-attachment-3141\" class=\"wp-caption-text\">The Competition Law protects the interests of both foreign and domestic investors.<\/figcaption><\/figure>\n<h2><b>Download Business Law in Vietnam<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The Law on Enterprises 2020 is published on the website of the Ministry of Justice of Vietnam and can be downloaded as a PDF document. To download and use the Law on Enterprises 2020 PDF, you can follow these steps:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Visit the website of the Ministry of Justice of Vietnam.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Search for and select the document Law on Enterprises 2020.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Click the \u201cDownload\u201d button to download the PDF document.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Use PDF reading software such as Adobe Acrobat Reader to read and use the document.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Or click on the following link to download quickly: <\/span><a href=\"https:\/\/pnvt.vn\/wp-content\/uploads\/2022\/10\/59_2020_QH14_451799.doc\"><span style=\"font-weight: 400;\">The Business Law 2020<\/span><\/a><\/p>\n<h2><b>Consulting on business law in Vietnam<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">At Apluslaw, we provide comprehensive consulting services on business law in Vietnam, tailored to meet the unique needs of local and international clients. Our expertise covers a wide range of legal areas, including company formation, corporate governance, mergers and acquisitions, tax law, and intellectual property rights.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With a deep understanding of Vietnam&#8217;s legal landscape, we guide businesses through the complexities of regulatory compliance, helping them navigate challenges and capitalize on opportunities. Whether you&#8217;re a startup, SME, or multinational corporation, Apluslaw ensures that your business is structured for success, adhering to Vietnamese laws and maximizing your competitive edge.<\/span><\/p>\n<h2><b>A+ lawyers provide tax legal advice<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">With a team of experienced, talented, enthusiastic and dedicated lawyers, A+ Law is proud to be the leading unit in consulting and resolving tax issues for foreign investors including the following services:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Consulting on determining tax obligations: tax amount payable, tax exemption, tax reduction, tax deduction, tax calculation price, tax rate.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Consulting on procedures: registration, declaration, tax payment, tax settlement, inspection and handling of violations, tax complaints.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Consulting on accounting regimes: accounting standards, invoices, documents.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Consulting on cooperation and business plans: forecasting arising tax obligations<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Authorized representative to carry out tax procedures.<\/span><\/li>\n<\/ul>\n<h3><b>Reasons for choosing Law A+:<\/b><\/h3>\n<p><b>Good expertise, lots of experience<\/b><\/p>\n<p><span style=\"font-weight: 400;\">A+ Law\u2019s team of lawyers are all excellent lawyers, familiar with legal regulations, and understand how litigation agencies and Party supervision agencies operate. In addition, A+ lawyers have fought and are experienced in criminal cases.<\/span><\/p>\n<p><b>Understanding<\/b><\/p>\n<p><span style=\"font-weight: 400;\">A+ Lawyers understands the fear and confusion of clients when faced with a situation where they may have to go to jail, may be unjustly wronged, and wishes to receive full support 24\/7 from expertise to safety. psychological mind. Therefore, we will do our best to bring peace of mind and fairness to our customers and clients.<\/span><\/p>\n<p><b>Committed to the end<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The journey to achieving justice for customers may not be smooth and straightforward. That journey may take many years and many levels of trial. A+ Lawyer commits to accompany and protect clients until justice and fairness are achieved.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Enterprise Law 2020 is an important law and has a great impact on business operations in Vietnam. Understanding and complying with the provisions of this Law will help businesses operate effectively and sustainably in an increasingly competitive business environment. <\/span><span style=\"font-weight: 400;\">If you still have any questions related to this issue, please contact lawyer A+ via <\/span><b>email: <\/b><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"mailto:contact@apluslaw.vn\"><b>contact@apluslaw.vn<\/b><\/a><\/span><span style=\"font-weight: 400;\"> or via <\/span><b>phone number: <\/b><span style=\"color: #0000ff;\"><b>0899511010<\/b><\/span><span style=\"font-weight: 400;\"> for support and advice.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Business Law in Vietnam (Vietnam Business Law 2020) is one of the laws of great importance in the Vietnamese Economic Law system, contributing to promoting the development of a socialist-oriented market economy. In recent years, the Enterprise Law 2020 has made innovations and improvements to meet the goals and tasks in the country&#8217;s socio-economic [&#8230;]\n","protected":false},"author":6,"featured_media":3140,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41],"tags":[],"class_list":["post-3138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v14.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Vietnam Business Law<\/title>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/apluslaw.vn\/en\/research\/business-law-in-vietnam.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vietnam Business Law\" \/>\n<meta property=\"og:description\" content=\"The Business Law in Vietnam (Vietnam Business Law 2020) is one of the laws of great importance in the Vietnamese Economic Law system, contributing to promoting the development of a socialist-oriented market economy. 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