Company: KNRX
Filing Date: 2025-06-12
Form Type: F-1/A
Source: 0001641172-25-014801
Chunk: 113

Company: KNOREX LTD.
Filing Date: 2025-06-12
Form: F-1/A
Chunk 113
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 Suppression of the Financing of Terrorism. Besides criminalizing the laundering of proceeds derived from drug dealing and other serious crimes and terrorism financing, the CDSA and the TSOFA also require suspicious transactions to be duly disclosed for the purpose of reporting to the Suspicious Transaction Reporting Office and failure to do so is an offense.

In addition, financial institutions, non-financial institutions, and individuals in Singapore are required to comply with financial sanction requirements in relation to individuals and entities designated by the United Nations.

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Vietnam

Employment Laws

The principal statute currently governing employment is Labor Code No. 45/2019/QH14 which has come into effect since January 1, 2021.

Labor contract

Employment relationships are governed by the contractual agreement between employers and employees. Labor contracts may take one of the following forms: (i) indefinite-term labor contract; or (ii) definite-term labor contract (the term of which must not exceed thirty-six months from the effective date of the contract).

A labor contract shall have mandatory contents such as the particulars of employer, particulars of employees, details of job, employment term, wage/salary, working and resting time and social insurance.

A signed labor contract may be terminated under circumstances specified under the laws. In certain events of termination (such as unilateral termination or dismissal or termination due to restructuring), the terminating party shall comply with the specific procedures and conditions required by laws.

Labor safety and hygiene

Employers (engaging in service sectors) and employees are subject to various requirements on labor safety and hygiene at the workplace such as training classes on labor safety and hygiene, and periodic health checks.

Foreign employees

Foreigners who work in Vietnam are required to obtain a work permit or a confirmation from the local labor authority that they are exempted from work permits. The term of a work permit shall not exceed two years. The term of labor contract of a foreigner working in Vietnam must not exceed the term of the work permit.

Statutory insurance

Employers and employees shall contribute compulsory social insurance (SI), health insurance (HI) and unemployment insurance (UI) on a monthly basis to the social insurance fund. The contribution is calculated based on salary at various rates. Currently, the total rates contributed by the employer and the employee are 21.5% and 10.5% respectively. The UI scheme is not applicable to the foreign employees.

Foreign Exchange Control Laws

The legislation regulating the foreign exchange market in Vietnam is Ordinance No. 28/2005/PL-