Viet Nam

Viet Nam

Allows foreign investors 100% ownership in insurance sector

16 Jun 2022

On 16 June 2022, the Viet Nam National Assembly promulgated the new Law on Insurance Business No. 08/2022/QH15, which will go into effect on 01 January 2023. According to the new law, foreign investors are allowed to own 100% of the shares of an insurance company in Viet Nam. When the law takes effect, investors will only be able to perform insurance business via joint stock companies and limited liability companies.