Requirements for the sports business in Vietnam

11:08, 03/07/2007

Recently, the Government of Vietnam issued Decree 112/2007/ND-CP guiding the Law on Exercise and Sports.

Requirements for the sports business in Vietnam (Internet image)

Article 13 of Decree 112/2007/ND-CP regulates requirements for the sports business in Vietnam as follows:

- Sports service supply enterprises must provide facilities and equipment that adhere to national technical regulations.

- Enterprises that provide instructions on the practicing or training of sportsmen, sportswomen and athletes are required to:

+ Satisfy all conditions for facilities and equipment that meet national technical regulations;

+ Recruit a sufficient staff of qualified executives and employees.

Note: The Minister and President of Exercise and Sports Committee shall issue national technical regulations that sport-related facilities and equipment must observe and qualifications that each executive and employee working in each type of sports must hold.

In addition, this Decree also stipulates that the legal owner of a sports business household as prescribed must be Vietnamese citizen or a group or a family household. They are obliged to register their business at only one legal location, recruit less than 10 employees, keep no stamp and put all of their property up as collateral to secure their obligations incurred during sports business activities.

More details can be found in Decree 112/2007/ND-CP which comes into force from August 3, 2007.

Ty Na

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

15 lượt xem

- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn