How to set up a business in vietnam - The Business in Vietnam

How to set up a business in vietnam

03-07-2018 84 Comments 297 Views

In recent years, along with the non-stop development of our country's economy and society, the number of foreign in vestors investing and building business in vietnam is more and more increased. Establishing 100 foreign-owned capital companies has become popular business. With its unique charaterization, establishing a company with 100 foreign-owned capital has always subject to quite rigorous adjustment of investment and business laws.

Register investment policy prior business in vietnam

Before carrying out setting up a 100 foreign-owned company, investors must apply for an Investment Registration Certificate at an agency of business registration. In some cases, investors must register its investment policy with a provincial People's Committee.

Required document include:

  1. A request for implementation of the investment project.
  2. A copy of ID card, passport or certificate of business registration or other equivalent document.
  3. A proposal of project investment: investors' name, investment objectives, scale, capital and capital mobilization plan, location, duration, impact assessment, report on socio-economic efficiency.
  4. A copy of one of the following documents: financial statement within the last two year - commitment of financial support from its parent company or a financial institution - guarantee of financial capability - documents proving capital capability.
  5. Demand for land use.
  6. Explanation on technology application, including name of such technology.
  7. BBC contract in case of implementation projects under a BBC

When applying for a business registration certificate to establish a new 100 foreign-owned company, investors should prepare a file of document similar to the file applied for policy registration and send it to an agency in charge of business registration.

Law firm in vietnam

Law firm in vietnam

Establish a new 100 foreign-owned company and register its business

After receiving a certificate of investment registration, investors need to carry out procedures of establishing a company with 100 foreign-owned capital. Required documents include:

Request for business registration

Charter

List of members or shareholders

Business registration certificate as regulated by Investment Law, applicable to foreign investors.

Copies of the following documents:

  • ID, Passport or other legal personal identification of individual members or shareholders.
  • Decision of establishment, business registration certificate of other equivalent corporate documents and authorization letter.
  • The copies of business registration certificate or other equivalent documents must be notarized at a consular if members are foreign corporates.

The application for edtablishing a company with 100 foreign-owned capital shall be submitted at a business registration agency under the Department of Planning and Investment of the province/ city at which a company is intended to be located.

Within 05 working days since as to the date of receiving full documents, the business registration agency shall consider and issue a business registration certificate.

Publicize the establishment of the company with 100 foreign-owned capital

After being granted the business registration certificate, the company is obliged to publicize its establishment on a national information portal.

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