Luat Viet

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Question :: I am a member of the Supervisory Commission (the Commission) of a public company which is unlisted and termed from 2007 to 2010. Until now, my term is still valid. In 2009, I was [not] invited to attend any meeting of the company’s Commission. Recently, I also did not attend the Commission’s meeting to produce the Commission’s Report for submission to the General Shareholder’s Meeting (the Meeting) year 2010 on April 9. I was informed that this Commission’s Report was built by the Commissions’ Director (the another member of the Commission also did not attend). I would like to ask you whether the operation of the Commission like that is legal or not? Is the Report mentioned above legal? What should I do to comply with the rights, duties and obligations of a Commission’s member?
Question :: I am a president of the Management Board (“the Board”) of a public company. As per regulations, the term of the Board, Supervisory Commission (“the Commission”) is five (5) years. Therefore, the first term of the Board, Commission is due on November 2010. However, in order to facilitate the voting of the Board, the Commission in the second term, the Board would like to submit the General Shareholder’s Meeting (“the Meeting”) with the latest on April 19, 2010 for renewal of the first term of the Board, the Commission until April 2011. So, the question is that is the renewal true or not? If the shareholders are not taken opinions directly at the Meeting, can the Board collect opinions indirectly from shareholders in writing? If the Meeting does not pass the renewal, how can the voting of the Board, the Commission be taken in compliance with laws?
Question :: Our company registers shares at the Securities Depository Central (SDC), but cannot deposit, of which my 10.000 shares. So, can I transfer directly 2.000 shares to my brother and compliment 2.000 shares to my wife?

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INDEX 1

DOUBLE TAX AVOIDANCE AGREEMENT ENTERED BY VIETNAM

No.	States	Date of Signature	Place of Signature	Effective Date
1	Australia	13/10/1992	Hanoi	30/12/1992
2	France	10/02/1993	Hanoi	01/07/1994
3	Thailand	23/12/1992	Hanoi	29/12/1992
4	Russia	27/05/1993	Hanoi	21/03/1996
5	Sweden	24/03/1994	Stockholm	08/08/1994
6	Korea (South)	20/05/1994	Hanoi	11/09/1994
7	UK	09/04/1994	Hanoi	15/12/1994
8	Singapore	02/03/1994	Hanoi	09/09/1994
9	India	07/09/1994	Hanoi	02/02/1995
10	Hungary	26/08/1994	Budapest	30/06/1995
11	Poland	31/08/1994	Warsaw	28/01/1995
12	Netherlands	24/01/1995	Hague	25/10/1995
13	China	17/05/1995	Beijing	18/10/1996
14	Denmark	31/05/1995	Copenhagen	24/04/1996
15	Norway	01/06/1995	Oslo	14/04/1996
16	Japan	24/10/1995	Hanoi	31/12/1995
17	Germany	16/11/1995	Hanoi	27/12/1996
18	Romania	08/07/1995	Hanoi	24/04/1996
19	Malaysia	07/09/1995	Kuala Lumpur	13/08/1996
20	Laos	14/01/1996	Vientiane	30/09/1996
21	Belgium	28/02/1996	Hanoi	25/06/1999
22	Luxembourg	04/03/1996	Hanoi	19/05/1998
23	Uzbekistan	28/03/1996	Hanoi	16/08/1996
24	Ukraine	08/04/1996	Hanoi	22/11/1996
25	Switzerland	06/05/1996	Hanoi	12/10/1997
26	Mongolia	09/05/1996	Ulan Bator	11/10/1996
27	Bulgaria	24/05/1996	Hanoi	04/10/1996
28	Luxembourg	26/11/1996	Hanoi	20/02/1999
29	Belarus	24/04/1997	Hanoi	26/12/1997
30	Czech Republic	23/05/1997	Prague	03/02/1998
31	Canada	14/11/1997	Hanoi	16/12/1998
32	Indonesia	22/12/1997	Hanoi	10/02/1999
33	Taiwan	06/04/1998	Hanoi	06/05/1998
34	Algeria	06/12/1999	Algiers	Not in force yet
35	Myanmar	12/05/2000	Yangon	12/08/2003
36	Finland	21/11/2001	Helsinki	26/12/2002
37	Philippines	14/11/2001	Manila	29/09/2003
38	Iceland	03/04/2002	Hanoi	27/12/2002
39	Democratic People’s Republic of Korea	03/05/2002	Pyongyang	12/08/2007
40	Cuba	26/10/2002	La Havana	26/06/2003
41	Pakistan	25/03/2004	Islamabad	04/02/2005
42	Bangladesh	22/03/2004	Dhaka	19/08/2005
43	Spain	07/03/2005	Hanoi	22/12/2005
44	Seychelles	04/10/2005	Hanoi	07/07/2006
45	Sri Lanka	26/10/2005	Hanoi	28/09/2006
46	Egypt	06/03/2006	Cairo	Not in force yet
47	Brunei Darussalam	16/08/2007	Bandar Seri Begawan	01/01/2009
48	Ireland	10/03/2008	Dublin	01/01/2009
49	Oman	18/04/2008	Hanoi	01/01/2009
50	Austria	02/06/2008	Vienna	01/01/2010
51	Slovakia	27/10/2008	Hanoi	29/07/2009
52	Venezuela	20/11/2008	Karakas	26/05/2009
53	Morocco	24/11/2008	Hanoi	Not in force yet
54	Hong Kong	16/12/2008	Hanoi	12/08/2009
55	United Arab Emirates (UAE)	16/02/2009	Dubai	12/04/2010
56	Qatar	08/03/2009	Doha	Not in force yet
57	Kuwait	10/03/2009	Kuwait	Not in force yet
58	Israel	04/08/2009	Hanoi	Not in force yet
59	Kingdom of Saudi Arabia	10/04/2010	Riyadh	01/02/2011
60	Tunisia	13/04/2010	Tunis	Not in force yet
61	Republic of Mozambique	03/09/2010	Hanoi	Not in force yet

PREFACE

PART I. INVESTMENT LEGISLATION IN VIETNAM

PART II. ROADMAP OF OPENING VIETNAM SERVICE MARKET UNDER WTO COMMITMENTS

PART III. MERGER AND ACQUISITION IN VIETNAM

PART IV. INTELLECTUAL PROPERTY LAW AND TECHNOLOGY TRANSFER

PART V. LABOR

PART VI. BANKRUPTCY OF ENTERPRISE

PART VII. COMPETITION

PART VIII. TAXATION

PART IX. THE LAW ON LAND, REAL ESTATE AND CONSTRUCTION

PART X. FINANCIAL SERVICES

PART XI. DISPUTE RESOLUTION

PART XII. IMMIGRATION ISSUES

INDEX 1. DOUBLE TAX AVOIDANCE AGREEMENT ENTERED BY VIETNAM

INDEX 2. DOUBLE TAX AVOIDANCE AGREEMENT ENTERED BY VIETNAM

INDEX 3. FINANCIAL SERVICE MARKET

ABOUT LUAT VIET

Luat Viet

Advocates & Solicitors

“I don't need lawyers who win at all costs, I really need them to win, but calculate the costs.”

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