A series of effective policies relating to foreigners regarding e-visa, work permits, banking operation, temporary import, re-export, and gambling were introduced and came into effect in 2017.
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A series of effective policies relating to foreigners regarding e-visa, work permits, banking operation, temporary import, re-export, and gambling were introduced and came into effect in 2017.
Procedures for granting of e-visa, work permits
* In an effort to attract more foreign visitors to the country, the Government on January 25, 2017 issued Decree No. 07/2017/ND-CP, guiding the pilot implementation of an e-visa scheme for visitors from 40 countries. The Decree took effect since February 1, 2017.
The new regulation is attached with a list of 40 nations eligible for the e-visa scheme, including the U.S., Japan, Germany, England, France, Spain, Italy, Greece, Russia, and the Republic of Korea, among others. It also specifies 28 border gates through which entry and exit with e-visas are permitted. According to the decree, foreigners can apply for e-visas by accessing https://xuatnhapcanh.gov.vn or https://immigration.gov.vn to upload photos and passport pages following the designed form, before receiving the electronic file code and paying the visa fee to the account specified on the e-visa information page.
* On November 29, 2017, PM Nguyen Xuan Phuc issued Resolution 124/NQ-CP supplementing the list of countries whose citizens are piloting e-visas when entering Viet Nam under Decree No. 07/2017/ND-CP, including Australia, the United Arab Emirates, Canada, India, the Netherlands, and New Zealand. The resolution took effect immediately following its signing date. As a result, citizens from an additional six countries, alongside the 40 countries that are already permitted, are applicable for e-visas when entering Viet Nam.
* The Ministry of Labor–Invalids and Social Affairs on August 15, 2017 issued Circular No.23/2017/TT-BLDTBXH on guidance of issuing work permits online for foreigners in Viet Nam. The Circular took effect from October 2, 2017.
Circular 23 guides the receipt of dossiers of request for approval of the need to employ foreign workers, grant and re-grant of work permits, and via-network certification of eligibility for work permit exemption for foreign workers in Viet Nam at level 3 of online public services.
Under this Circular, the time limit for via-network declaration and submission of explanatory reports on the need to employ foreign workers is shortened to 20 days from current 30 days under Circular 40/2016/TT-BLDTBXH dated October 25, 2016. Work permits must be granted to employers within eight working hours after receiving application dossiers.
Operations of foreign banks and credit institutions
* Circular 41/2016/TT-HHNN of the State Bank of Viet Nam on the regulation of capital adequacy ratio for banks, foreign bank branches was released on December 30, 2016. Under Circular 41, commercial banks must maintain a capital adequacy ratio (CAR) of at least 8% from January 1, 2020. The new circular replaced Circular 13/2010/TT-NHNN that currently regulates minimum CAR of at least 9% for banks. The central bank’s move is aimed to prepare for the application of BASEL II standards in the domestic banking system. Under BASEL II standards, minimum CAR is required at 8%.
* The State Bank of Viet Nam on May 17, 2017 issued Circular No.39/2016/TT-NHNN stipulating lending activities of foreign credit organizations and bank branches for customers. The Circular stipulates a number of cases where loans are not allowed are as follows: (i) Loans for buying gold bullions; (ii) Loans for paying debts owed to the lending organization, except for lending for payment of interest incurred during the construction process whose expenses are included in the construction estimate approved by the competent authority as prescribed by laws; and; (iii) Loans for paying debts owed to other credit organizations and foreign loan debts, except for loans used for payment, prior to the due date, of the debts that fully meet the requirements of this Circular.
* The Governor of the State Bank of Viet Nam (SBV) issued Circular 17/2017/TT-NHNN dated November 20, 2017 amending and supplementing a number of articles of Circular 40/2011/TT-NHNN dated December 15, 2011 stipulating the granting of licenses, organizations and operations of commercial banks, foreign bank branches, and representative offices of foreign credit institutions, and other foreign institutions with banking operations in Viet Nam.
Circular 17 stipulates regulations on procedures, dossiers and responsibilities of entities related to the request of adding operations of provision of such products as commodity derivatives, investment in future contract of Government bonds and e-wallet activities to the licenses of commercial banks and foreign bank branches.
New regulations on temporary import, re-export
The Ministry of Industry and Trade issued Circular No. 11/2017/TT-BCT on temporary import, re-export, temporary export, re-import, and transshipment of goods.
Goods for temporary import and re-export are temporarily imported and re-exported through international and main border gates. The re-exports of goods via auxiliary border gates and border crossings are realized at auxiliary border gates and border crossings at border economic zones and auxiliary border gates outside the border economic zones where there are full management agencies as required and technical facilities guaranteeing state management performance.
Border provinces’ People’s Committees exchange with the Ministry of Industry and Trade the principles of selecting enterprises which are allowed to re-export goods via auxiliary border gates and border crossings and announce the list of selected enterprises.
Regulations on gambling
* Decree 03/2017/ND-CP on casino business was released on January 16, 2017 by the Government, allowing foreigners and overseas Vietnamese situated abroad with a valid foreign passport to gamble in casinos in Viet Nam. Vietnamese citizens can now also be admitted into domestic casinos, on a three year trial basis. After which, the government will decide whether or not to continue allowing domestic citizens to participate in casino gambling.
Decree 03 also regulated business, management, and punishment of administrative infringements of casino business activities in Viet Nam. Casino business is a conditional business and put under close management of competent State agencies.
* Decree 175/2016/ND-CP of the Government amending and supplementing some articles of Decree 86/2013/ND-CP, dated July 29, 2013 on the business of prize-rewarding electronic games for foreigners came into force since February 15.
With the new legislation, electronic gaming machines (EGM) now have to be 100% new, with technical specifications clarified by the manufacturer, and certified by independent certifying agencies operating in G7 countries. The decree maintains the prohibition of Vietnamese nationals entering gaming facilities, as regulated by Decree 86. Five-star or equivalent hotels and resorts are free to open electronic gaming services as long as they are in a separate facility and adhere to specific security requirements./.
(Source:VGP)
