In Vietnam, there are currently 2 popular ways to recover outstanding debts. The first is litigation way, which is to submit a petition to a Court and solicit assistance. It is a long and time-consuming process, and when there is a Judgement from the Court, debtors have already sold out their assets or transferred to another, or they have gone bankruptcy, and nothing left for creditors to collect.
A joint-stock company (Corporation) is a form of enterprise established under the provisions of The Enterprise Law of Vietnam. A joint-stock company has its legal status from the issuance date of the Certificate of Business registration.
Under the enterprise laws of Vietnam, a company facing difficulties may file a request for suspension in a certain period of time. If business activities cannot be resumed afterwards, it must be sold to another owner or subject to dissolution.
With a team of lawyers specialized in civil, corporate and commercial law, who have significant practical experience in drafting, negotiating and entering into contracts as well as resolving disputes arising, ALB & PARTNERS Law Firm is willing to provide Clients assistance in contract advice
Temporary Residence Card is a document issued by an immigration authority or a competent government agency of the Ministry of Foreign Affairs in Vietnam, allowing foreigners to reside in Vietnam for a definite time, and it can replace their visas.