Pay me in USD

Part of our payroll service in Vietnam is to gather and answer the queries of our client's employees in Vietnam. The wildly fluctuating black market exchange rate recently has caused some of these people to complain bitterly about being paid in Vietnamese Dong.

The law in Vietnam is very clear on this.

1. In principle, a Vietnamese person can sign a labour contract with an employer being organizations duly established and existing under the laws of Vietnam, mutually agreeing the salary in foreign currency, usually in USD.
2. However when the employer pays the salary to the employee directly or indirectly, the salary must be exchanged for Vietnamese Dong on the basic of average rate as provided by the State Bank of Vietnam at the time of salary payment or other exchange rate as agreed in the labour contract by the parties, other than a foreigner.
3. In accordance with the law of Vietnam, the use of foreign currency within the territory of Vietnam is subject to Ordinance 28, Decree 160 and related documents. Specifically, under Article 22 of Ordinance 28, “within the territory of Vietnam, all transactions, payments, listings and advertisements of the organizations being residents must not be carried out in foreign currency except for transactions with credit institutions and payments made via intermediaries, including authorized collection, entrustment, agency and other necessary cases permitted by the Prime Minister of the Government” .

Organizations with Vietnamese staff need to be aware of this so they can quickly and easily explain to their staff that USD or other foreign currency payments as part of an employment contract are not legal.

If you have any questions, do not hesitate to contact HR2B Payroll Services in Vietnam

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HR2B / Talent Recruitment Company - What is in a name?

Talent Recruitment Joint Stock Company is a Vietnamese organisation dedicated to serving the Vietnam Human Resources needs of business. Our main business lines are

• Executive Search and Selection of top quality Vietnamese management and professional talent;
• International standard payroll outsourcing;
• Human Resources management consulting.

We use the brand name HR2B (Human Resources to Business) because that is easier to remember and because in 2002 when we were setting up that was the best available URL.

HR2B.com (along with email) is the way we communicate with our clients and candidates. It is also the home of our purpose built Executive Search and Selection information System. This system is built by our sister company Super Cyber Enterprises and helps us provide exceptional customer service to our clients and candidates.

The logo of HR2B Vietnam Human Resources company was designed by Mr Tuan at Spot designers.. The concept is that the black circle defines the white star and the white star defines the black circle. Sort of yin-yang idea. A lot of Human Resources management decisions are as much about what you don't do as what you do do! (is that correct English?).

Originally our logo was black and white and the "HR2B" was in lower case "hr2b". As a westerner the simplicity was appealing, however feedback from my Vietnamese friends (and Binh Vo in particular) was that the logo needed to be more colourful and more bold. After a few experiments we ended up with the version you see now by the end of 2003.

Five years later, and the logo is still drawing positive remarks. Our staff no longer stumble over "HR2B good morning" and clients say that it is memorable, so I guess it has achieved what a logo should achieve. What do you think?

If you have any questions, do not hesitate to contact HR2B Vietnam Human Resources company.

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