Newsletter on November 2022

Our Newsletter #4 would lead you on the following:

LEGAL UPDATE

I. Regulations on penalties for administrative violations on vocational education and training

The Government issued Decree No. 88/2022/ND-CP dated 26 October 2022 regulating penalties for administrative violations on vocational education and training with the following notable contents:

  • An enterprise providing vocational education and training (the “Enterprises”) is an applicable object of this Decree.
  • Some notable violations of the Enterprises will be penalties in this Decree:
    • Failing to apply for registration of additional vocational education and training activities when (i) dividing, separating or merging the vocational education and training institution, vocational – continuing education center and the Enterprise or (ii) renaming the Enterprise: a fine from VND 40.000.000 to VND 50.000.000 shall be imposed;
    • The Enterprises that enroll or organize training activities before obtaining a certificate of registration of vocational education and training activities issued by a competent authority: a fine from VND 20.000.000 to VND 40.000.000 shall be imposed (accompanied by remedial measures: Forcible cancellation of the student’s results of the study, test, examination, consideration for recognition of graduation; forcible revocation or cancellation of diplomas or certificates or copies of granted diplomas and certificates; forced to ensure the interests of learners);
    • The Enterprises that fail to publicize the contents of organizing vocational education and training in accordance with the law: A fine from VND 20,000,000 to VND 30,000,000;
    • The Enterprises that fail to comply with the reporting regime as prescribed by law: A fine from VND 20,000,000 to VND 30,000,000; and
    • Failing to organize teaching activities according to a training plan, training schedule or timetable, teaching plan or lesson plan book or failing to comply with the structure of theoretical and practical training hours of each subject or module specified in the training program: A fine from VND 3.000.000 to VND 5.000.000 shall be imposed.
  • This Decree will take effect on 12 December 2022.

II. Regulations on bank guarantee

The State Bank of Vietnam issued Decision No. 1826/QD-NHNN on announcing the amended and supplemented administrative procedures in the field of foreign exchange activities conducted at the One Door Department within the scope of management functions of the State Bank of Vietnam (the “SBV”) with the following notable contents:

  • Procedures for registration of enterprise’s foreign loans which are not guaranteed by the Government:
    • Step 1: The borrower prepares the Application Letter for foreign loans which are not guaranteed by the Government (according to the form attached to this Decision);
    • Step 2: The borrower sends 01 set of foreign loan registration documents to the SBV within the prescribed time limit for each type of loan (detailed instructions are provided in this Decision); and
    • Step 3: The SBV has a written confirmation or refusal to confirm loan registration (clearly stating reasons). The time limit for processing dossiers is 12-15 working days from the date of receipt of completed and valid dossiers.
  • Procedures for registration of changing enterprise’s foreign loans which are not guaranteed by the Government:
    • Step 1: The borrower prepares the Loan Change Application Letter (according to the form attached to this Decision);
    • Step 2: The borrower sends 01 set of the application dossier for registration of changing foreign loans in accordance with regulations to the SBV within 30 working days from the date of:
      1. The parties sign an agreement to change or before the time of implementation of the changed content (in case the content changes, it is not necessary to sign the change agreement but still ensure compliance with the foreign loan agreement);
      2. The organization inheriting the foreign loan repayment obligation shall be granted a business registration certificate or the date the parties sign an agreement on the change of the borrower in case the original borrower is divided or separated, consolidated or merged (whichever comes later), and before continuing to withdraw capital and repay foreign loans;
      3. The borrower completes the update of information on a name change and/or address change, moving the head office to another province or city on the National Business Registration Database; and
      4. The lender (or the organization representing the lender in the syndicated loan – if any), the guarantor or other related parties mentioned in the written registration confirmation and the written confirmation of registration change send written notice to the borrower of the name change and before proceeding money transfers related to these parties.
    • Step 3: The SBV has a written confirmation or refusal to confirm loan registration (clearly stating the reason). The time limit for processing dossiers is 12-15 working days from the date of receipt of completed and valid dossiers.
  • The documents for the procedures are regulated in this Decision.

III. Guidance on the conditions and procedures for signing a contract to buy and sell existing houses and construction works.

The Ministry of Construction issued Official Letter No. 4551/BXD-QLN dated 10 October 2022 guiding the conditions and procedures for signing a contract to buy and sell existing houses and construction works. This Official Letter has the following notable contents:

  • Existing house means any house which has been completed and put into operation;
  • The existing houses and the construction works put into business shall satisfy the following requirements:
    • The ownership of the house on the land is registered in the certificate of land use right. Regarding the houses and the construction works available in real estate investment and business projects, only a certificate of land use rights is required in accordance with the land law.
    • There is no dispute over land use rights, ownership of the houses and the construction works attached to the land;
    • Not being distrained to ensure judgment enforcement.
  • Accordingly, in case of the enterprises have completed the construction of houses, construction works and the houses and the construction works have been accepted and put into use according to the provisions of the law on construction, have a certificate of land use right according to the provisions of the land law and satisfy the conditions specified above, they shall be considered as the existing houses and the construction works and put into business according to the regulations of the law on real estate business.

PUBLISHED ARTICLES

  1. How are disputes over confidentiality agreements in the labor field handled in Vietnam?
  2. 07 cases of revocation of investment registration certificate granted to foreign investors in Vietnam
  3. Trading permit and retail outlet license for retail activity in Vietnam: Case study for license obtainment
  4. Is it mandatory to conduct the negotiation and mediation as agreed before bringing a dispute to Commercial Arbitration in Vietnam?

PUBLISHED VIDEO

BLawyers Vietnam’s lawyers would like to provide 21 FQAs about the relation of husband and wife during the divorce period and the divorce procedure

UPCOMING EVENTS

DISPUTE SETTLEMENT SKILLS IN BANKING ACTIVITIES DISPUTE SETTLEMENT SKILLS TRAINING COURSE AGAINST PUBLIC—PRIVATE PARTNER CONTRACT

Date of Event: 10 & 11 December 2022

Location: Hanoi

Supporting Organizations are:

  • VCCI
  • VIAC
  • USAID

For more information, see at: Khóa tập huấn Kỹ năng giải quyết tranh chấp phát sinh từ Hợp đồng đối tác công tư

For downloading: 

Newsletter #4 (EN version)

Maybe you are interested in reading other Newsletters of BLawyers Vietnam: Newsletter on October 2022 / Newsletter on September 2022

blawyersvn-cta-image

Request a consultation

To schedule a meeting with BLawyers Vietnam’s attorneys, please call us or complete the intake form below. We will respond within 24 hours.

  • This field is for validation purposes and should be left unchanged.