DP Group｜Legal Reforms in Vietnam – What to Know

Vietnam has strengthened its corporate transparency framework by requiring enterprises to identify, declare, update, and retain information on their ultimate beneficial owners (“UBOs”). The regime, introduced from July 2025, has been further clarified under Decree No. 296/2026/ND-CP and reinforced by the penalty provisions of Decree No. 288/2026/ND-CP, effective from 23 July 2026. Key Compliance Requirements

Vietnam’s data compliance landscape is entering a new phase, with the Personal Data Protection Law (PDPL), the Cybersecurity Law (CSL), the Data Law (DL), and their guiding documents creating an increasingly comprehensive regulatory framework. Unlike the GDPR, Vietnam’s framework covers not only personal data protection but also cybersecurity, data classification, and government management. For foreign

On 17 July 2026, the Tax Department issued Official Letter No. 4937/CT-NVT, providing guidance on tax registration procedures applicable to branches and representative offices of foreign companies operating in Vietnam. The letter was issued in implementation of Decree No. 252/2026/ND-CP and Circular No. 90/2026/TT-BTC, and clarifies several compliance requirements relevant to foreign-invested structures maintaining a