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In short
Vietnam is changing into an more and more necessary marketplace for expertise, and we’ve got witnessed rising demand for the providing of share-based awards to staff in Vietnam lately. As a consequence of foreign money 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 can be crucial for corporations to weigh the prices and advantages of acquiring SBV approval, provided that the appliance course of stays a big endeavor and the continued necessities necessitate continued assets.
For the newest SBV steering 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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For extra data on how our workforce will help your organization can navigate the SBV approval course of, contact your Baker McKenzie Compensation lawyer or ship us a common inquiry as we speak.
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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/cloudfront-us-east-1.images.arcpublishing.com/gray/GNN7GHUPT5FFXGEE5AAHTK2LRY.jpg "Vietnam Traveling Memorial Wall making 5-day stop in Andalusia")
