REAL ESTATE

¤ Circular No. 89/2017/TT-BTC guiding Decree No. 35/2017/ND-CP regarding land use fee, land lease rental, water surface use fee in economic zones and high-tech zones

Effective date: 6 October 2017

This Circular provides for calculation of land use fee/land lease fee/water surface use fee in economic zones and high-tech zones.  In addition, the Circular provides for exemption and reduction of fee/rental.

 

¤ Circular No. 15/2017/TT-BCT guiding Decree No. 68/2017/ND-CP regarding management and development of groups of industrial zones

Effective date: 16 October 2017

The Circular provides for master plans on development of groups of industrial zones (application dossier, assessment and approval to the master plans), construction of technological infrastructure and reporting obligations.  The Circular applies to developers and tenants in groups of industrial zones.

 

¤ Circular No. 202/2015/TT-BTC of the Ministry of Finance dated 18 December 2015 guiding the listing on Stock exchange.

  • Pursuant to Circular 202, organizations granted listing rights must list its securities for trading within 90 days from date of granting.
  • Any organization cancelling listed shares (compulsory or voluntary) may only re-list such shares after 12 months from such cancelation, save where approval is obtained for listing on other Stock exchange.
  • A listed company can additionally list its swap shares provided that its return on equity (ROE) should be at least 5% after such swap.  Circular 202 also provides for other settlement where such ratio is not met.

 

¤ Circular No. 203/2015/TT-BTC of the Ministry of Finance dated 21 December 2015 guiding the trade on securities market

Circular 203 is expected to create more liquidity to the securities market with a number of new rights of the investors including:

  • Right to trade their pending securities (i.e. purchased securities but pending for ownership transfer).
  • Right to make buying orders when having payment guarantee from their depository bank.
  • Right to conduct “transactions in a day” (i.e. sale and purchase of same securities with same quantity on same account within a day) after executing the contract for transactions in a day and contract for escrow transaction with the securities company.
  • Circular 203 also regulates that all payments must be made via commercial banks. The securities company cannot internally transfer the money between accounts of the investor.

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