Doing business in Viet Nam

ngay_dang 20/02/2019 loaitin English

Doing business in Viet Nam- According to the report of the Foreign Investment Agency, the Ministry of Planning and Investment, in general in January 2019, the total newly registered, increased and contributed capital to buy shares of foreign investors reached 1.9. billion USD, up by 51.9% compared to the same period in 2018.

 

In particular, foreign direct investment (FDI) from the beginning of the year to January 20/01/ 2019 had 226 new licensing projects with a registered capital of 805 million USD, an increase of 36.1% in the number of projects and increase 81.9% in registered capital compared to the same period in 2018.

 

According to that, the demand for investing in Vietnam of foreigner investors is really large. It shows that Viet Nam is an attractive market more and more investors invest.

 

Understanding investment’demand for doing business in Viet Nam, Pazpus provides to the customer the essential knowledge in Viet Nam through the useful writing below:

 

Doing business in Viet Nam

 

I.  THE FOREIGN INVESTOR SHOULD NOTE

 

1. The investor’s charter capital

 

Depending on each business line that Viet Nam law regulated about ratio charter capital of the foreign investor.

The charter capital not to be too low. It should be over 500 000 000 dongs and the document showing its finance capability is Audited financial report if the investor is an organization and the Bank account balance if the investor is a person.

 

2. The conditions of  the business line

 

The foreign investor notes if it is the conditional business line, the customer needs to make sure the conditions according to law. For example, the conditions about charter capital, sublicense, practicing certificate..ect..

>> If you have any questions, please do not hesitate to contact us for new businesses, call 0901668919 to know more detailed.

 

3. Range of activities

 

 

The range of activities between the foreign investor and the domestic investor is a difference depending on what they are investing.  Therefore, the investors need to research and know their range of activities in order to avoid to be fine for getting over a range of activities.

 

4. Others notes

 

- Choosing the form of the company: According to the Law on Enterprises, there are five common types of business entities at present: business cooperation contract (BCC), joint stock company, partnership company, limited liability companies, public-private partnership (PPP). Depending on the needs and certain cases of the investor, they decided their form suitably.

 

- Choosing a company name: The investors should choose a short company name and easy to remember. Besides, according to Law on Enterprises, the investors should pick a name that is not the same as or not confused with another enterprise’s name which has been registered. With our service, we will help the customer to check the company name, and choose the legal company name for the customer.

 

- Besides the above issues, the investor needs to determine the company address, the charter capital, who will be the legal representative in Viet Nam..etc..

 

II. PROCEDURE OF SET UP  THE FOREIGN- INVESTED COMPANY

 

To set up foreign-invested company, the procedure includes 2 steps:

 

Step 1: Procedure for insurance of Investment registration Certificate

 

Step 2: Procedure for insurance of Business Registration Certificate

 

1. PROCEDURE FOR INSURANCE OF INVESTMENT REGISTRATION CERTIFICATE (IRC)

 

The document includes:

1. A written request for permission for execution of the investment project;

2. The investor is personal: A copy of the ID card or Passport

The investor is an organization: a copy of Business Registration Certificate or relative documents;

3. An investment proposal;

4. Copies of any of the following documents: financial statements of the last two years of the investor; commitment of the parent company to provide financial support; commitment of a financial institution to provide financial support; guarantee for investor’s financial capacity; description of investor’s financial capacity

5. Demand for land use or lease office principle agreement;

6. The explanation for the application of technologies to the project that uses technologies on the List of technologies restricted from transfer prescribed by regulations of law on technology transfers;

7. BCC contract;

Time to proceed according to theory: 15 from the day receiving valid dossier. In real, time to proceed may be the last 30-35 days.

Depending on each situation of the investor, the dossier changes. Therefore, to know more about the details of it, do not hesitate to contact with us through hotline 0901 668 919.

 

2. THE PROCEDURE TO INSURANCE OF BUSINESS REGISTRATION CERTIFICATE

 

After having IRC, company submit the dossier including IRC to Business Registration Agency to do a procedure to insurance of Enterprise Registration Certificate- ERC

 

The document includes:

- An application form for business registration;

- Company’s charter;

- List of members;

-  List of founding shareholder and shareholder is a foreign investor;

- List of copy ID card, passport of the owner and the legal representative;

- The decision on Establishment, Certificate of Business registration, or an equivalent document of the organization and the letter of authorization; the ID card or other ID papers of the authorized representatives of members being organizations;

- A copy of Investment Registration Certificate;

 

Time to proceed: 03-05 days from the day receipt the valid dossier

 

III. OUR WORK

 

After signing a service contract with the customer, we will:

Step 1: Drafting necessary documents to establish the company and the send to customer sign and stamp

Step 2: Submitting dossier for issuance Investment registration Certificate and Business registration Certificate at competent authorities

Step 3: Receiving the Investment registration Certificate and Business registration Certificate

Step 4: Announcing Business registration information

Step 5: Make a company seal and announcing seal information

Step 6: Instruction the procedure about buying digital invoice, buying digital signature, open bank account

 

IV. OUR ADVANTAGES

 

- Fast- Package- Prestige- Profession

- Helping company not time- consuming  traveling multiple time

- You just sign and stamp, Pazpus will give you Certificate without moving on

- With an enthusiastic, high professional skill create the best quality service with the most reasonable cost for all businesses.

 

 

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