HOW TO SET UP A FOREIGN COMPANY IN VIET NAM

ngay_dang 07/12/2018 loaitin English

- You are the investor who wants to invest and set up a company in Viet Nam?

- You do not know prepare what kind of documents?

- You are stuck with Viet Nam administrative procedure?

It would be easy with Pazpus - the team of an experienced lawyer and consultant in the field of foreign investment. Pazpus will provide you with professionalism in work as well as bring satisfaction to customers.

The writing below will provide for you the information about how to set up a foreign company in Viet Nam.

 

How to set up a foreign company 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. Therefore, the investor needs to check carefully in “Guide to Vietnam commitment on trade in services in the WTO” in order to know the intended business line allow to establish company 100% foreign investor or being limited under certain ratio.

 

2. The conditions of  the business line

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

 

The conditional business line researching commonly through 2 main documents: “Guide to Vietnam commitment on trade in services in the WTO and “specialized legal documents”. Understanding the conditions carefully is an essential step to help the investors not “ losing money”. Besides, the investors need to check carefully if it is allowed to invest or not. If it is a new business line, have not allowed investing, the procedure will be more complicated and time-consuming for an investment certificate. Because this case, the investors shall consult with the Ministry of Planning and Investment and relevant Ministries;

 

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

 

3. Range of activities

With the same business line but having a difference about a range of activities between the foreign investor and domestic investor. 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.

 

For example, for the foreign investor conduct on the real estate trading, they are not allowed to purchase buildings for sale, for lease, or for lease purchase..etc.. or with the business line construction works, Viet Nam law has just allowed the investor is an organization, not personal.

 

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

 

II. PROVIDED CUSTOMER DOCUMENTS

 

1. The foreign investor is personal

- Copies of the ID card or passport of the investor;

- The legalization of the bank account balance of the investor;

 

2. The foreign investor is an organization

- The legalization of Business Certificate or relative documents;

- The legalization of Audited financial statement of the company at least 2 years. In case of company operate under 1 year, the investor needs to prepare the extra the legalization of bank account balance;

 

III. THE PROCEDURE OF ESTABLISHING FOREIGN INVESTED COMPANY

 

1. The procedure for issuance of Investment Registration Certificate

The first step that the investor needs to do is carry out the procedure for issuance of Investment Registration Certificate.

 

A project dossier consists of:

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 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: about 15-20 working days from the date of receipt valid dossier

 

2. The procedure for issuance of Business Registration Certificate

After receiving the Investment Registration Certificate, the investor will carry our the procedure for issuance of  Business Registration Certificate

 

A project dossier consists of:

- 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: 3-5 working days from the date receipt the valid dossier

 

Competent authorities: Department of planning and investment

 

IV. THE PROCEDURES NEED TO DO AFTER RECEIVING BUSINESS REGISTRATION CERTIFICATE

 

1. Announcing Business registration information

2. Make a company seal and announcing seal information

3. Buying digital signature in order to make tax report

4. Buying a digital invoice

5. Making company signs

6. Opening a bank account

 

>>Contacting with us immediately to  be instructed the procedure  detailed

 

V. 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

 

VI. 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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