BUSINESS LINES PROHIBITED FROM INVESTMENT (REPUTABLE LAW FIRM IN BINH THANH DISTRICT, TAN BINH DISTRICT, HO CHI MINH CITY)
Within the limitation set by the law, HT Legal VN Law Firm recommends that Investors need to avoid the following industries and business lines that are banned from investment according to Article 6 of the Investment Law 2020:
Industries and professions banned from business investment:
1. Trading in narcotics specified in Appendix I of this Law.
Appendix I of the Investment Law 2020 clearly stipulates 47 types of drugs banned from investment and business, including: Acetorphine, Acetyl-alpha-methylfenany, Alphacetylmethadol, Alpha-methylfentanyl, Beta-hydroxyfentanyl, Brolamphetamine, Cannabis and other drugs. Marijuana products, Heroine, Methcathinone….
2. Trading in chemicals and minerals specified in Appendix II of this Law.
According to Appendix II of the Investment Law 2020, compounds and minerals banned from investment and business include 8 types of toxic chemicals such as: Burning gases containing Sulfur, Nitrogen tear gas, Saxitoxin, Ricin; 4 types of precursors include Alkyl compounds (Me, Et, n-Pr or i-Pr) phosphonyldifluoride, O-Alkyl compounds, Chlorosarin, hlorosoma and Colored Asbestos minerals of the Amphibole group…
3. Trading in specimens of wild plants and animals originating from the wildlife as prescribed in Appendix I of the Convention on International Trade in Endangered Species of Wild Plants and Animals; Specimens of endangered, precious, and rare species of forest plants, animals, and aquatic animals Group I originating from wildlife specified in Appendix III of the Investment Law 2020;
4. Prostitution;
5. Human trafficking, trading human tissues, corpses, body parts, and human fetuses;
6. Business activities related to human cloning;
7. Trading in firecrackers;
8. Debt collection service.
Penalties for all violations of the above regulations, Pursuant to the provisions of Clauses 3 and 4, Article 16 of Decree No. 122/2021/ND-CP dated December 28, 2021 bu the Government, regulating on administrative penalties in the field of planning and investment, in which investors carrying out business activities in industries and business lines that are prohibited by the law may be subject to administrative penalties for violations as following:
(i) Fine from 200,000,000 VND to 300,000,000 VND;
(ii) Remedial measures: Forced to terminate business investment activities and return illegal profits gained from investing in business lines banned
In addition, when an investor registers business lines prohibited, he may be rejected to issue a enterprise registration certificate by the Business Registration Agents or be prosecuted for criminal charge according to the law depending on the severity of the act.
As a regular legal consulting lawfirm, always proactively accompanying businesses and investors in providing legal advice, prioritize the legal compliance in all investment and business activities, we fully acknowledge and implement effective legal recommendations and advice for your business projects.
HT Legal VN Law Firm also always preserves and commits to our responsibilities to our clients. We pursue our mission with the legitimate rights and interests of our clients, accompanying our clients in every project, business activity and jointly handle all legal issues that arise until completion.
Hân hạnh đón tiếp quý khách hàng theo địa chỉ sau:
Luật sư Nguyễn Thanh Trung hoặc CÔNG TY LUẬT TNHH HT LEGAL VN
VP1: 37/12 Hẻm 602 Điện Biên Phủ, P.22, quận Bình Thạnh, Tp. Hồ Chí Minh (Bên cạnh UBND phường 22)
VP2: 207B Nguyễn Phúc Chu, P.15, quận Tân Bình, Tp. Hồ Chí Minh
VP3: Số 5 Ngách 252/115, Phố Tây Sơn, P. Trung Liệt, quận Đống Đa, Tp. Hà Nội
Email: info@htlegalvn.com Hotline: 09 6161 4040 – 09 4517 4040