Tiếng Việt
Conditional business lines are industries that need to meet the conditions prescribed by law. So which business have conditions and how are those conditions regulated?
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Mục lục
1. Why is there a conditional business lines
Vietnam Investment Law stipulates that businesss are related to national defense and security, social order and safety, public health that organizations and individuals investing and doing business should meet the following requirements. Conditional business lines apply to both foreign investors and Vietnamese investors. Foreign investors investing in these businesses should pay attention to the provisions of law to comply.
The list of conditional business lines is provided in Appendix 4 of Vietnam Investment Law. Business lines with conditions attract foreign investment: securities, insurance, franchising, e-commerce, logistics, etc.
2. Conditions for conditional business lines
Conditions for conditional business lines are stipulated in international treaties to which Vietnam is a member; specialized legal documents; resolutions of the National Assembly, etc. Including conditions on legal capital, personnel, facilities, business licenses as prescribed by law.
2.1. Condition on legal capital
The legal capital requirement for business requires high asset capacity with high financial risks, so a sufficient amount of legal capital is required to ensure the fulfillment of legal obligations of organizations and individuals. Depending on the business, the law has specific provisions on deposit or business registration to determine the legal capital.
Some business lines have conditions in legal capital such as:
– Real estate business: 20 billion VND;
– Business of travel services: 500 million VND;
– Insurance service business: 300 to 1000 billion VND.
2.2. Conditions of Business License
Business license is a document granted by competent state agency to organization or individual that meets the conditions for business activities. Some conditional business lines that require a business license: hotel business; provision of labor sublease services; logistics (transporting goods or passengers by road).
2.3. Conditions of personnel
The law has provisions on the number and conditions of personnel relative to each different profession. Individuals need to meet certain conditions on experience and knowledge to be granted a practicing certificate. Businesses need to meet personnel conditions: health services; real estate consultancy; logistic services.
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Customers establish company in conditional business lines will receive services provide by LNP LAW
– Consulting, supporting and answering customers’ questions related to conditional business lines;
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