Law on Residence 2020 takes effect from 1st July 2021

1. Subjects being eligible to purchase shares upon equitization of SOEs 

Circular 32/2021/TT-BTC guiding the initial sale of shares and the management and use of proceeds from the equitization of state-owned enterprises (SOEs) takes effect from 1st July 2021. 

Accordingly, the subjects being eligible to purchase shares upon equitization of SOEs include: 

Domestic investors, foreign investors as prescribed in Clauses 1, 2, Article 6 of Decree 126/2017/ND-CP and Clause 3, Article 1 of Decree 140/2020/ND-CP being organizations and individuals, including employees and managers in equitized enterprises; 

Strategic investors who are domestic investors and foreign investors fully satisfying the conditions specified at Point a, Clause 3, Article 6 of Decree 126/2017; 

Subjects specified in Article 42 of Decree 126/2017, Clause 21, Article 1 of Decree 140/2020; 

Trade unions at equitized enterprises as prescribed at Point b, Clause 2, Article 33 of Decree 126/2017. 

2. Law on Residence 2020 takes effect from 1st July 2021 

The Law on Residence 2020 replaces the Law on Residence 2006 and the Law on Residence amended in 2013, with some new following points:

– From 1st July 2021, no new household registration books or temporary residence books will be issued when citizens register for permanent or temporary residence. Residence registration agencies will update information on permanent residences, new temporary residences, and temporary residence period of the registrant in the database of residence.

– Introducing additional prohibited acts on residence as:

+ Illegally accessing, exploiting, destroying, obstructing, interrupting operation, changing, deleting, distributing or providing information in the residence database;

+ Failing to receive or delaying the receipt of dossiers, papers, documents, residence registration information or committing other acts of harassment;

+ Failing to perform, failing to comply with the deadline for residence registration for citizens when the dossier is eligible for residence registration; deleting permanent residence registration, temporary residence registration contrary to the provisions of law.

– The separation of household after divorce will not need the written consent of the spouse.

Download Legal update as a PDF here. 

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