english
vietnamese
BDLaw › FAQ › Answer

Answer

 Question: As we knew, the investor who invests in the project of residential housing complex shall be required to have at less 15% of the total investment capital of the project. How is the capital certified?

Answer:

According to Article 5 of Decree No. 153/2007/ND-CP dated 15 October 2007 of the Government, detailing and guiding the implementation of the law on real estate business, for the residential housing complex project that occupies less than 20 hectares, the investor’s own capital must not be less than 15% of the total investment capital of the project. For the residential housing complex project that occupies 20 hectares or more, the investor’s own capital must not be less than 20% of the total investment capital of the project.

Under Clause I.2 of the Circular No.13/2008/TT-BXD dated 21 May 2008 of the Ministry of Construction providing guidelines for implementing Decree No.153/2007/ND-CP on detailed regulations for implementing the Law on Real Estate Business, with regard to an investor being an existing company, the investor’s own capital is the capital that the investor really possesses as indicated in the company’s financial statement that is certified by an independent auditor in the previous year to the year when the investor implements the project.

With regard to an investor being a newly established company, the investor’s own capital is determined as follows:

- For the capital is Vietnam Dong or foreign currency, the capital must be certified via the balance by the commercial bank that the company opens the bank account within 30 days prior to the filing date of the document for project approval.

- For the capital is asset, the capital must be certified via a certification letter of an assessing organization operating in Vietnam on the result of the company’s assets assessing. The letter must be assured to be valid till the filing date of the document for project approval.

The investor’s own capital shall be determined on the total investment capital of each project.

In case where the investor has obtained the land use right, compensated and carried out the site clearance, the total investment capital of the project shall only include investment capital for technical infrastructure, exclude site clearance and compensation expenses, investment capital for other construction works.

[Back] [Top]

 Question: We are a share holding company having ten shareholders. In order to increase the capital, we have issued new shares and we intend to offer to our five partners that may include a commercial bank. Please tell us the conditions relating to the offering shares?
 Question: We are an US-based investment company. We have already set up our wholly owned company in Vietnam. We consider purchasing shares from unlisted Vietnamese companies. Is there any difference if our Vietnam-based company purchases the shares? Could we purchase 100% shares of a company? What are the conditions that we have to satisfy?
 Question: I am intending to work in Vietnam as chief of a representative office of a foreign construction company in Hanoi. I know that foreigners working in Vietnam must have work permit issued by competent authority, however work permit are exempted in some cases. Could you tell me about the conditions for a foreigner working in Vietnam? Shall I have to get work permit from the competent authority?
 Question: Due to many difficulties caused by the world economy down turn, our company is forced to shrink its operation scale. Therefore, many of our labourers are deemed to be redundant. Can we reduce our workforce by terminating the labour contract with these labourers?
Question: Our company is an US-based company operating in home appliances trading. We and a Vietnamese partner are intending to enter into a franchise contract, in which we will be the franchisor. Shall the franchise contract be required to get the approval from or be registered with the competent authority of Vietnam? What kinds of conditions that we have to satisfy?
Page 1/9
1
2
3
4
5
... 9