Risk Management: A Vital Element When Doing Business | ANT Consulting

 Risk management is a vital element when doing business but so far, not many enterprises concern about it.

According to a recent survey with 522 companies, there are only 43 companies, accounting for about 8%, have the independent risk management department in their business. More noteworthy, the majority of these 43 companies operating in the banking and financial sector, which has nothing new to risk management. In fact, not all banks have independent and effective risk management departments. The negative problems related to the banking system in recent times somewhat showed the picture about the risk management of this sector.

Risk is understood as any events and situations that could harmful to the ability to achieve the business objectives of the enterprise. Risk management is organized in a formal way and is conducted continuously to identify, control and report the risks that may affect the achievement of the business objectives of the enterprise.

So why businesses are not interested in risk management? Part of this problem stems from the awareness of the leaders. In order to build and operate the risk management system in the enterprise, it needs the commitment of the senior leaders. If senior leaders do not aware of this problem, the administration process will be difficult to achieve the desired effectiveness.

Recently, there are many theories and systems of risk management but small and medium enterprises should be cautious when apply because system and theory are just general and they should be adjusted when applying to each business.

In order to form the culture of risk management, the leaders must along with the employees to implement it regularly and for each project. In theory, the risk management process is carried out in 5 steps: identify risk; evaluate its impact; determine the likelihood; action and measures; monitoring and evaluation.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

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How to conduct research in Vietnam from official media source? | ANT Lawyers

 The media is an effective source for us to search necessary information for learning, business activities or for daily life. However, with the development of the Internet, communication has a stronger influence and is the leading tool that we often use to find information. Besides the benefits that the media brings, the media might be abused to pose many risks for users. Therefore, how to find official information in the media source is a topic of concern for many people, whom wish to search i.e. reputation of business partners, record of business owners, shareholders, key officers or management personnel, public information of company or individual, actual business operation of company, government policies, regulatory matters…

It is increasingly important to check sources of information, especially on the internet and using social media. Any individual joining a media network, social network can post any contents and share information, even if the information may be false. In fact, images and videos can also be plagiarized, mislabeled, or fabricated to convey information. Meanwhile, when users do not have time to learn and verify the source of false information and the fact that this information is not censored, it can spread quickly in the mass media.

Therefore, to avoid accessing or searching for fake news, users should not rely on all the information on social networks. Accordingly, users should check trusted news websites or government websites. In addition, users can check the author, title or name of the agency or organization that wrote or published information and articles. Users will then have an initial assessment of whether they are eligible to post and can trust what they have posted.

Further, before sharing a post on social network platforms, users should check if it is reliable and authentic information. However, on social network, it is not easy for users to authenticate information within a short period of time. The best way is that users should get direct information from contacting an agency or expert in this field or refer to reports and content of a reputable news site.

In addition, users should rely on organizations that specialize in field in which the user is looking for information. For examples, if the a person is having health problems and wish to consult the instructions or recommendations on where to go for medical treatment, the user should call a medical facility for guidance and advice from experts or visit the website of the Ministry of Health for the most official and reliable information. Or a foreigners whom wish to find government policy or information for travel and entry for immigration during Covid-19 pandemic time, he/she can contact or visit the website of the relevant Vietnam Immigration Department.

One problem today is that fake channels are trying to design the interface to have a similar look like official websites and insert characters that if not alerted users can easily confuse. Therefore, users should carefully check the website address from which they get information.

In conclusion, it is important for media users to watch out for official and stay away from fake news when searching for information. In addition to being vigilant and looking for official sources to get information, users can contact information search consulting company in Vietnam for effective solutions.

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Visa and Immigration Matters in Vietnam

Foreigners entering Vietnam for different purposes will need proper visas issued, failing which would lead to the revocation, invalidation of entry/exit/residence permits issued by Vietnamese competent authorities. The length of stay in Vietnam for foreigners depend on the visa type and the time duration specified on the visa itself. For some visas, especially work related visas, the foreigners need to be sponsored by Vietnam enterprises for working purpose. The proper works visa must be obtained before work permit in Vietnam would be issued and the foreigners could apply for temporary residence card to stay in Vietnam for a longer period.

Below lists down all visa symbol for references.

-NG1 – Issued to members of delegations invited by the Secretary General of Vietnam’s Communist Party of, the President of Vietnam, the President of the National Assembly, the Prime Minister.

-NG2 – issued to members of delegations invited by standing members of the Secretariat of the Vietnam’s Communist Party, Deputy President of Vietnam, Deputy President of the National Assembly, Deputy Prime Minister, President of Vietnamese Fatherland Front, Executive Judge of The Supreme Court, Chief Procurator of the Supreme Procuracy, State Auditor General; members of delegations at the same levels of Ministers, Secretary Generals of Provincial Communist Authorities, President of the People’s Committees of provinces.

-NG3 – Issued to members of diplomatic missions, consular offices, representative offices of international organizations affiliated to the UN, representative offices of intergovernmental organizations and their spouses, children under 18 years of age, and housemaids during their term of office.

-NG4- Issued to people who come to work with diplomatic missions, consular offices, representative offices of international organizations affiliated to the UN, representative offices of intergovernmental organizations, visitors of members of diplomatic missions, consular offices, representative offices of international organizations affiliated to the UN, and representative offices of intergovernmental organizations.

-LV1 – Issued to people who come to work with units affiliated to Vietnam’s Communist Party; the National Assembly, the government, Central Committee of Vietnamese Fatherland Front, the People’s Supreme Court, the People’s Supreme Procuracy, State Audit Agency, Ministries, ministerial agencies, Governmental agencies, the People’s Councils, the People’s Committees of provinces.

-LV2 – Issued to people who come to work with socio-political organizations, social organizations, Vietnam Chamber of Commerce and Industry.

-ĐT – Issued to foreign investors in Vietnam and foreign lawyers practicing in Vietnam.

-DN – Issued to people who come to work with companies in Vietnam.

-NN1 – Issued to Managers of representative offices or projects of international organizations and foreign non-governmental organizations in Vietnam.

-NN2 – Issued to heads of representative offices, branches of foreign traders, representative offices of other foreign economic, cultural, professional organizations in Vietnam.

-NN3 – Issued to people who come to work with foreign non-governmental organizations, representative offices, branches of foreign traders, representative offices of other foreign economic, cultural, professional organizations in Vietnam.

-DH – Issued to people who come to study or serve internship.

-HN – Issued to people who come to attend conventions or conferences.

-PV1 – Issued to journalists who have permanent residences in Vietnam.

-PV2 – Issued to journalists who come to work for a short period of time in Vietnam.

-LĐ – Issued to people who come to work.

-DL – Issued to tourists.

-TT – Issued to foreigners that are parents, spouse, children under 18 years of age of the foreigners issued with LV1, LV2, ĐT, NN1, NN2, UNIVERSITY, PV1, LĐ visas, or foreigners that are parents, spouse, children of Vietnamese citizens.

-VR – Issued to people who come to visit their relatives or for have other purposes.

-SQ – Issued to people at an overseas visa-issuing authority of Vietnam

It is important that the immigration lawyers in Vietnam to be retained for advice in regard to visa, work permit, temporary residence card or other immigration matters.

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What are Responsibility for Wrongful Request of Arrest of Ship?

According to Article 131 of Vietnam Maritime Law, the wrongful request of arrest of ship in Vietnam shall be subject to financial obligations. In particular:

The applicant for arrest of a ship must be held legally liable for his request. If the request for arrest of a ship is wrongful, which may lead to any loss, such applicant shall be responsible for compensating for any loss or damage possibly incurred.

Any loss or damage that may be incurred from consequence of such request for wrongful arrest shall be dealt with as agreed upon between parties. Where there is any disagreement or dispute that may arise, the Court or Arbitration Tribunal shall be requested to settle this disagreement and dispute in accordance with laws.

If the Court that grants a judgement on arrest of a ship which is not based on the reasons for a request for arrest or does not serve on the ship as the right subject matter of such request, which may cause any loss or damage, it shall be liable for any compensation in accordance with laws and regulations.

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How Foreigners Could Marry Vietnamese Wife?

When a foreigner marrying a Vietnamese, this is cross cultural marriage with challenges and complexity in relationships which could be legally difficult. The Vietnam laws on Marriage and Family on marriage and family relations involving foreign elements provide legal grounds to avoid false marriages to gain citizenship or conduct human trafficking.

The following should be taken into consideration when a foreigner marrying a Vietnamese. However due to the complexity, it is suggested family lawyers in Vietnam to be consulted to ensure the correct processes and procedures are carried out in timely manner:

1.Marriage consultation:

If marriage registration between a foreigner and a Vietnamese belongs one of the following cases, Vietnamese citizen must be consulted by the provincial Marriage Consultancy Center: i) the age gap between two partners is 20 years or more; ii) this is the third marriage of the foreign partner, or the foreign partner has gone through a divorce with a Vietnamese citizen; iii) the partners do not completely understand about the families and backgrounds of each other; about the languages, traditions, customs, cultures, and laws on marriage and families of each other’s country.

After being advised on marriage consultation, Vietnamese citizen will be issued a certificate by Marriage Consultancy Center (hereafter referred to as Certificate) which is part of the application dossier.

When the Vietnamese citizens is fluent in a foreign language or foreigner is fluent in Vietnamese, and the interviews at the Justice Department show that both sides have an good understanding of family circumstances, personal situation, and the understanding of language, customs, traditions, culture, laws on marriage and family in each country, the Certificate will not be needed.

2.Submission for marriage registration

One of two parties would submit directly to provincial Department of Justice of province where the Vietnamese citizen applicant resides. A dossier of marriage registration is prepared including the following papers of each party:

a) The marriage registration declaration (standard form);

b) The papers of marriage status of each party:

Vietnamese shall provide the written certification of marital status issued by the People’s Committee where he/she resides.

Foreigner shall provide the documentary evidence on marital status of foreigners issued by a competent agency of the country of which the applicant is a citizen. In cases where foreign laws do not prescribe the certification of marriage status, it can be replaced by the certification of oath taken by the applicant that he or she concurrently has no wife or husband, in accordance with the laws of those countries; the written certificate of marriage eligibility issued by a competent agency of the country of which the applicant is a citizen (unless laws of this country do not regulate about this document); for foreigners who have already been divorced with Vietnamese citizens at foreign competent agencies, they must submit the written confirmation that the divorce which carried out abroad have been recorded in civil status book as prescribed by law of Vietnam.

c) The medical examination from a Vietnamese or foreign competent health organization, certifying that such person does not suffer from mental diseases or other diseases which make a person incapable to aware or control his/her acts;

d) Copies of personal papers, such as identity card or passport, passport or papers of substitute value such as travel document or residence card;

e) Copies of the household registration book, the temporary residence book (for Vietnamese citizens living in the country); permanent residence card, temporary residence card or temporary residence certificate (for foreigners residing temporarily or permanently in Vietnam).

f) Certificate of Marriage Consultancy Center on marriage to a foreigner that Vietnamese citizens have been given advice for marriage in compulsory cases mentioned above.

All documents provide by parties have to have valuation within 6 months to the date when the dossier is received.

3. Interviews for marriage registration to a foreigner in Vietnam

Within 15 days as from the date of receiving the complete and valid dossiers as well as fees, the provincial Department of Justice shall have the responsibilities to implement the direct interview at head office for both marriage partners in order to check, clarify personal matter, voluntary marriage and extent of understanding each other of both marriage partners.

If the interview result shows that two parties fail to understand status of each other, the provincial Department of Justice shall make an appointment for re-interview; the next interview shall be performed 30 days after the preceding interview.

In cases there are issues which need to be verified, the provincial Department of Justice dshall carry out necessary procedures to verify.

4. Certificate of marriage registration in Vietnam

After interviewing both marriage partners, studying and verifying the marriage registration dossiers, opinions of police agencies (if any), the provincial Department of Justice shall report result and propose settlement of marriage registration to submit to provincial People’s Committees for decision, enclosed with 01 set of marriage registration dossier.

Within 05 working days, after receiving the written submission of the provincial justice department together with the marriage registration dossier, the chairman of the provincial People’s Committee shall sign in the certificate of marriage and return dossier to the provincial Department of Justice for holding the ceremony for marriage registration.

In case refusal for marriage registration, provincial People’s Committees shall have a document clearly stating reasons thereof and send it to the provincial Department of Justice in order to notify both marriage partners.

5. Ceremonies for marriage registration in Vietnam

Within 05 working days, after the Chairman of the provincial People’s Committee signs the marriage certificate, the provincial Department of Justice shall hold ceremony for marriage registration.

The marriage registration ceremony shall be solemnly organized at the office of the provincial Department of Justice. When the marriage registration ceremony is held, both marriage partners must be present. The representative of the provincial Department of Justice shall preside over the ceremony, requesting both parties to state their final intention on voluntary marriage. If they agree to marry each other, the representative of the Department of Justice shall record the marriage in the marriage registers, requesting each party to sign on the marriage certificate, the marriage register and hand over the original marriage certificate to the husbands and wives, each with one certificate.

The marriage certificate shall be valid from the date the marriage registration ceremony is organized as provided. The grant of copies of the marriage certificate from the original registers shall be implemented by the provincial Department of Justice at the requests of the wives or husbands.

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Change of Headquarter of Da Nang Immigration Department

As of August 2018, according to the project for rearranging the administrative function of the Government and the Ministry of Public Security, Immigration Department of Da Nang has been merged into Immigration Department of Hanoi. Therefore, the procedures related to entry, exit of Vietnamese citizens and foreigners such as issuing visa, exempting visa, temporary residence card, permanent residence in Da Nang shall be implemented in Immigration Department of Hanoi.

Relating to the dossier and procedures carried out at the Immigration Department of Da Nang such as issuing passport, temporary residence card, permanent residence, the application shall be submitted to Immigration Department of Da Nang. Thereafter, this agency shall transfer such dossier to Immigration Department of Hanoi for approval. Finally, the results shall be returned to Da Nang.

For most of immigration procedures which used to be implemented in Immigration Department of Da Nang, such as issuing visa, the applicant shall submit dossier directly to Immigration Department of Hanoi. The change could possibly add up processing time, and inconvenience if there is requirement for re-submission, amendment and supplement.

ANT Lawyers law firm offer offices in both Hanoi and Da nang, there fore could facilitate the process for individuals and businesses to register entry, residence permit in Da Nang for the smooth experience, to assist foreigners entering Vietnam doing business, setting up company and making investment.

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Family Office Services

Vietnam has been considered as an attractive fit for family offices. The Vietnam’s stock market has been around fifteen ten years. Fund certificates in various forms are available such as close ended fund, open ended fund, Exchange Traded Fund (ETF). Foreign investors are now allowed to hold up to 49% shares in a listed company and this room has been in the process to change in the near future. Although Vietnam market is considered small for pension funds or the similar, this market is a right fit for family offices.

Further, foreigners are now allowed to make direct investment, hold 100% and conduct business in most areas after the new investment law’s effective date of Jul 1st, 2015. The real estate law has been passed with effective on the same date with new investment law, allowing foreigners entering Vietnam to buy real estate.

We are a local professional management consulting firm with family office service that assist foreign clients with asset management and consolidated reporting of all the family’s assets.

In particular, we provide wealth management and tax planning, trustee and corporate services, and support with indirect investment, direct investment, real estate and family governance.

We are your consultants and we could act as nominee shareholder, nominee director, or provide management service that help you achieve the goal, and stay in private status at the same time.

We look forward to helping you find the family office services you need in Vietnam.

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What Are Obligations of Using Patent and Trademark?

When applicants of invention or mark are granted patent or trademark certificate, they are obliged to use these subjects. The reason for this provision which is, the owner may not use patents or trademarks in practical causing difficulties for the person who would like to use the patent and trademark in reality but cannot register as others has already registered.

According to Article 136 Vietnam Law on intellectual property clearly regulated on obligations of owner in using patent and trademark.

Firstly, to patent, the owner is be obliged to manufacture protected products or apply protected processes to satisfy the requirements of national defence and security, disease prevention, and treatment and nutrition of the people or to meet other social urgent needs. When the needs stipulated in this clause arise but an invention owner fails to perform such obligation, the competent State body may license such invention to others without permission from the invention owner in accordance with the law.

Secondly, to trademark, trademark holder is obliged to use trademark continuously. Trademark used under a trademark use agreement by a transferee is also considered as an act of using the holder’s trademark. In case the trademark is not used continuously for five years or more, the Trademark Certificate of Registration shall be invalid.

Specifically, if the trademark holder or the person who is allowed to use the trademark do not use the trademark within continuous five years before the date of request to terminate the validity without reasonable reason, except the using starts or restarts at least 03 months up to date of having the termination of validity request.

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How to Send Vietnamese Workers Working Abroad Under Contracts?

Decree No. 38/2020/ND-CP detailing the implementation of a number of articles of the law on Vietnamese workers working abroad under contracts has been signed by the Government on April 3, 2020 takeing effect from May 20, 2020.

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This Decree prescribes the areas and jobs workers must not go to work abroad; licenses, conditions and procedures for the grant or replacement of licenses for provision of services to send workers abroad; deposits of service-providing enterprises sending laborers to work abroad; deposits, management and use of deposits of enterprises performing the intern labor contract. Specifically:

Up to seven jobs are not allowed to for Vietnamese workers to work abroad including: massaging in the restaurants, hotels or entertainment centers; the work must be in constant contact with explosives, toxic substances in the metallurgy of non-ferrous metals (copper, lead, mercury, silver and zinc), regular contact with manganese, mercury dioxide; the work must be in contact with open radioactive sources, exploiting radioactive ores of all kinds; the production and packaging must be in constant contact with the chemicals of nitric acid, sodium sulfate, carbon disulfide, pesticides, herbicides, rat poison, antiseptic, and anti-termite with strong toxicity; hunting for wild animals, crocodiles and sharks; regular work in places where there is lack of air, high pressure (underground, in the ocean); shrouding, burial corpses, cremating corpses, exhuming graves.

In addition, it is prohibited to send workers to war zones or areas at risk of war, areas where radiation is being contaminated, areas contaminated with poison or areas with particularly dangerous epidemics.

For service-providing enterprises sending laborers to work overseas, to set up company, and comply with the law, they must meet the following conditions among others: the legal capital is not lower than VND 5,000,000,000 (five billion Vietnam dong); having owners, all members and shareholders being domestic investors under the provisions of the Law on Investment 2014; having an operation plan to send workers to work abroad; having a specialized apparatus and material foundations to organize the training of necessary knowledge for workers before going to work abroad and activities of sending laborers to work abroad; deposit VND 1,000,000,000 (one billion Vietnam dong) at commercial banks licensed to operate in Vietnam.

The enterprise sending workers to work abroad upon the form of practice for skills improvement makes deposit to account at commercial bank. The level of deposit of an enterprise sending workers to work abroad upon the form of practice for skills improvement is equal to 10% of the ordinary flight ticket of one class at the time the enterprise deposits from the country where the employee works. The number of workers going to work abroad in Vietnam under the Contract of accepting internships has been registered.

In addition, this Decree also stipulates the conditions for activities of sending laborers to work in the territory of Taiwan (China), to practice skills in Japan and to work as domestic servants in the host country of Middle East region.

The interested individuals and organizations should pay attention to implement details of the regulation or seek lawyers in the labour management areas for consultation.

How ANT Lawyers Could Help Your Business?

The changes of laws will be monitored by ANT Lawyers. For advice or service request, please contact us via email ant@antlawyers.vn or call +84 28 730 86 529

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What To Do When the Trademark Certificate is Misplaced?

Trademark is a type of asset of individual and organization. To be officially recognized as an owner of that trademark, the applicant needs to submit the trademark registration dossiers to National Office of Intellectual Property in Vietnam (NOIP), pay the examination fee and certificate issuance fee to receive the trademark certificate.

The trademark owner needs to have the consciousness of protecting the trademark certificate. However, if unfortunately, the trademark certificate is misplaced, lost or damaged, torn, stained or faded out that it can no longer be used, the trademark owner may submit the dossier to NOIP to request for regranting the trademark certificate.

The specific required documents for re-granting the trademark certificate are:

-The declaration for regranting the trademark certificate;

-01 mark specimen;

-Power of attorney (if submit the dossiers via IP agent).

NOIP will consider the dossier within 01 month from the date of submitting. In case the dossier satisfies the provisions of law, NOIP will issue the decision to regrant the trademark certificate and record into the National Register of Industrial Property. The information in the duplicate version of the trademark certificate will present sufficiently the information in the first-granted trademark certificate and attached with the phrase “regranting version”.

In case of request for regranting the trademark certificate does not meet the provisions of law, NOIP will issue the denied decision and clearly sates the reasons.

If the client needs any other information or requires for further advice, our IP attorney at ANT Lawyers, the IP agent in Vietnam will be available for service.

How ANT Lawyers Could Help Your Business?

Please click here to learn more about ANT Lawyers IP Practice or contact our IP lawyers in Vietnam for advice via email ant@antlawyers.vn or call our office at (+84) 24 730 86 529

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How To Determine The Child Custody in a Divorce?

Upon divorce, in addition to dispute over property division, child custody dispute is also popular. How to determine the child custody in a divorce depends on many factors and the parties are suggested to consult with dispute lawyers in Vietnam in civil matters. The following does not try to give legal advice but a brief opinions on the matters of concern for reference.

According to Vietnamese law, after a divorce, parents still have rights and obligations of looking after, caring for, raising and educating minor children or adult children losing their legal capacity or having no working capacity and no property to support themselves. The law always prioritizes agreement right of both parties. Accordingly, husband and wife shall reach agreement on the person who directly raises their children and on his and her obligations and rights toward their children after divorce. If they fail to reach agreement, the Court shall appoint one party to directly raise the children, based on the children’s benefits in all aspects. If a child is full 7 years or older, his/ her desire shall be considered. In addition, a under-36-months child shall be directly raised by the mother, unless the mother can not afford to directly look after, care for, raise and educate the child or otherwise agreed by the parents in accordance with the interests of the child.

In reality, opinion of the children is only regarded as orientation and reference for the Court to consider making decision, not as completely decisive meaning. The Court shall ba

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se on interests of the children to appoint one party to directly raise him/her, according to: living, current education of the children, occupation of the direct caretaker, accommodation condition after divorce, income, child care time… and some other elements of each party. Accordingly, the person being entitled to directly raise the children must prove themselves to provide the most favorable environment for normal development requirements of the children and have enough conditions for ensuring both economy and mental health. The person being entitled to directly raise the children must prove themselves to have enough material conditions (stable income, property, and accommodation…), mental condition (having enough time to be with the children, care for, raise them, always put the children at the forefront…) to make the children have more stable life an

d more developed than living with the other party. In addition, one of the parties can provide additional evidence to prove that the other party does not have enough material conditions and mental condition to raise the children or often has behaviors of violence, unstable income…

In case of request of a parent or individual, organization being entitled to request (Next of kin; The state management agency in charge of families; The state management agency in charge of children; The women’s union), the Court may decide to change the person directly raising a child. The change of the person directly raising a child shall be settled if there is one of the following grounds: (i) The parents agrees on change of the person directly raising a child in the interests of this child; (ii) The direct caretaker no longer has sufficient conditions to directly look after, care for, raise and educate the child. Like divorce settlement, desire of full-7-years or older child shall be considered in case of changing the person directly raising a child. Seeing that both parents fail to have sufficient conditions to directly raise a child, the Court shall decide to assign this child to a guardian.

Obligations and rights of indirect caretaker after divorce: (i) Respect the child’s right to live with the direct caretaker; (ii) Support this child; (iii) Visit and care for this child without being obstructed by any person after divorce. Direct caretaker is entitled to require the Court to restrict the right of the indirect caretaker if the latter takes advantage of his/her visit to and care for the child to prevent or adversely affect the looking after, care for, raising and education of this child.

In accordance with obligations and rights of indirect caretaker, direct caretaker also has obligations and rights toward indirect caretaker after divorce: (i) require the indirect caretaker to fulfill the obligations; (ii) require this person and family members to respect his/her right of raising the child; (iii) The direct caretaker and family members shall not prevent indirect caretaker from visiting, caring for, raising and educating this child.

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