Decrees issued regarding real estate business, enterprise registration, visa exemptions, boat repairs, and duty free goods on inbound flights.
Detailed provisions for Law on Real Estate Business
On September 10 the government issued Decree No. 76/2015/ND-CP providing details on the implementation of certain articles of the Law on Real Estate Business. The decree provides details on the requirements of organizations and individuals in the real estate business, the types of contracts in real estate business, transferring contracts for ownership of existing housing or ongoing constructions, transferring contracts for ownership of projects to be built in the future, and procedures for transferring all or a part of a real estate project. The decree will come into effect on November 1.
New regulations on business registration
Decree No. 78/2015 /ND-CP issued on September 14 guides certain articles relating to business registration, addressing shortcomings in Decree No. 43/2010/ND-CP and Decree No.05/2013/ND-CP, codifying innovations and reforms in business registration to create favorable conditions for individuals and businesses in registering or closing businesses.
Boat owners allowed to borrow 70% of upgrade costs
Under Decree No. 89/2015/ND-CP from the government on aquaculture development, boat owners wishing to repair and upgrade coated steel vessels are allowed to borrow 70 per cent of the cost from commercial banks at an interest rate of 7 per cent per annum, of which the government will support 4 per cent. The decree takes effect on November 25.
Visa exemptions for Vietnamese residing abroad
Visa exemptions are now available under Decree No. 82/2015/ND-CP to overseas Vietnamese and foreigners who are spouses or children of Vietnamese citizens or overseas Vietnamese with a passport or travel papers valid for at least one year and not excluded from entry under Article 21 and Article 28 of the Law on Entry.
Overseas Vietnamese must apply for a visa exemption at Vietnamese embassies or consulates abroad. Those already in Vietnam can apply at the Immigration Department.
A visa exemption certificate is valid for a maximum of five years, the expiry of which must be more than six months before the passport and travel papers expire. Exemption certificates will be issued to eligible people entering Vietnam to visit relatives or for travel. Children appearing on their parents’ passport can travel on the visa exemption issued to their parents. The decree will take effect on November 15.
Duty free purchases for passengers arriving by on Vietnamese carriers
According to Decree No. 39/2015/ND-CP, in addition to being able to buy duty free goods on flights leaving Vietnam, passengers on Vietnamese carriers flying into Vietnam will also allowed to buy duty free goods from November 1. Most foreign airlines flying to and from Vietnam provide duty free sales. The change in rules is to remove inequality between domestic and international carriers. Flight attendants are required to take note of the passenger’s name and passport number when selling duty free.