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Briefly
Vietnam is turning into an more and more vital marketplace for expertise, and we’ve witnessed rising demand for the providing of share-based awards to workers in Vietnam lately. As a consequence of forex management restrictions imposed by the State Financial institution of Vietnam (SBV), together with the requirement that every plan be registered with the SBV, it has historically been difficult to implement a share plan in Vietnam. For the reason that adoption of Round 10 in 2016, the SBV registration course of has been clarified and a rising variety of corporations have efficiently registered their plans with the SBV.
That mentioned, corporations must be cognizant of the remaining obstacles and challenges in providing awards in Vietnam, ideally earlier than making any grants. It is crucial for corporations to weigh the prices and advantages of acquiring SBV approval, on condition that the appliance course of stays a big endeavor and the continuing necessities necessitate continued sources.
For the newest SBV steerage on the registration and approval course of, in addition to the pitfalls and challenges to think about, we encourage you to learn and share our white paper together with your inventory plan groups.
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Contact Us
For extra info on how our group will help your organization can navigate the SBV approval course of, contact your Baker McKenzie Compensation legal professional or ship us a common inquiry at the moment.
Particular due to our colleagues Tri Trung Pham and Khanh Chi Vu in our Hanoi workplace for his or her contributions to this text.
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