Foreigners set up companies in Vietnam
Under the provisions of the 2014 Investment Law, the 2014 Enterprise Law, Vietnam's WTO Commitments and bilateral free trade agreements between Vietnam and other countries in the region and around the world, Foreigners are allowed to enter into Set up companies in Vietnam in almost all service and trading sectors.
When a foreigner establishes a company in Vietnam, there are some points to note as follows:
For each investment field, there will be specific conditions on procedures, capital contribution ratio, and documents to be prepared.
When establishing a company in Vietnam, foreigners must prove their financial capacity to be able to invest in Vietnam through confirmation of bank account balance.
General conditions and documents to be prepared for foreigners to establish a company in Vietnam are as follows:
1.Notarized passport of Foreigner;
2.Financial capacity to carry out the project: Foreigners demonstrate through preparation: Confirmation of the bank account balance or savings book bearing the investor's name with the corresponding amount of investment in Vietnam;
3. Foreign investors must ensure that there is a project location: That is a contract of renting a house or an office in Vietnam to register the company's headquarters. Note renting apartments, dormitories. Request the lessor: A notarized copy of the land use right certificate. In case of leasing from the Company, it is required to provide: Enterprise registration certificate (with real estate trading function), Land use right certificate of the house for rent, Building permit.
Before carrying out the procedures for the grant of an investment registration certificate, the investor shall declare information of the investment project online on the National Foreign Investment Information System. Within 15 days from the date of online filing, the investor submits the application file for the Investment Registration Certificate to the Investment Registration Authority.
After the investment registration agency receives the dossier, the investor is granted an account to access the National Information System on foreign investment to monitor the situation of file processing.
The investment registration agency shall use the National Foreign Investment Information System to receive, process and return results of investment registration documents, update application processing status and issue project codes. investment projects.
Documents submitted by the investor to the investment registration authority include:
1. Written request for implementation of investment project;
2. Copies of identity card / ID card or passport for individual investors; copy of the Establishment Certificate or other equivalent documents certifying the legal status for institutional investors;
Proposal of an investment project includes the following contents: investor implementing the project, investment objectives, investment scale, investment capital and capital raising plan, location, duration, and schedule of investment. , labor demand, proposal of investment incentives, impact assessment, socio-economic efficiency of the project;
3.A copy of one of the following documents: financial statements of the latest 2 years of the investor; financial support from the parent company; financial institutions' commitment to financial support; guarantee of financial capacity of the investor; documents explaining the financial capacity of the investor;
Processing time: Within 15 days after receiving a complete dossier, the investment registration agency shall grant an investment registration certificate; In case of refusal, the investor must notify in writing the investor and clearly state the reason.
Competence to issue investment certificates:
Department of Planning and Investment shall receive, issue, adjust and revoke investment registration certificates for the following investment projects: Investment projects outside industrial parks, export processing zones, hi-tech parks and economic zones;
Investment projects on development of infrastructure of industrial parks, export processing zones and hi-tech parks, and investment projects in industrial parks, export processing zones and hi-tech parks in localities where management boards have not yet been established industrial parks, export processing zones and hi-tech parks.
Management boards of industrial parks, export processing zones, hi-tech parks and economic zones receive, issue, adjust and revoke investment registration certificates for investment projects in industrial parks and zones export processing zones, hi-tech parks and economic zones, including:
Investment project on development of infrastructure of industrial parks, export processing zones and hi-tech parks;
Investment projects implemented in industrial parks, export processing zones, hi-tech parks and economic zones.
Department of Planning and Investment where the investor locates or intends to locate its head office or executive office to implement investment projects to receive, issue, adjust and revoke investment registration certificates for projects following investment projects:
Investment projects implemented in many provinces and centrally-run cities;
Investment projects shall be carried out simultaneously inside and outside industrial parks, export processing zones, hi-tech parks and economic zones.
Dossier of establishment of an enterprise granting an enterprise registration certificate
After obtaining the certificate of investment registration, investors need to prepare documents to set up the business