→ Discover how to Opening a Factory (Manufacturing) Business in Vietnam / Build a factory as Binh Duong, Hanoi and HCM City, BAC Giang, Bac Ninh, Vinh Phuc, Dong Nai ... Advisor by LHD Law Firm.
Opening a Factory (Manufacturing) Business in Vietnam / Build a factory as Binh Duong, Hanoi and HCM City, BAC Giang, Bac Ninh, Vinh Phuc, Dong Nai ... corporate law in 2020 entered into force on 01.01.2021 as follows →
We assist you in every step of the process of acquiring the certificates :
Enterprise Registration Certificate (ERC).
Investment Registration Certificate (IRC).
Various Sub-licenses (VS).
→ Step 1: Find the location of the factory, Location of the plant may be within or outside industrial parks, export processing zones, high-tech zones and economic zones. In the case of foreign companies intend to put plants outside industrial parks, export processing zones, high-tech zones and economic zones, etc., investors should contact the Department of Natural Resources and Environment for referral location of project implementation. In case had found specific location outside industrial parks, export processing zones, high-tech zone ... (e.g., lease premises, other business premises ...), foreign companies need to work with the Department of Natural Resources and Environment of the province to find out whether the planned location is suitable for land-use planning or not →
→ Step 2: Once you have an agreement or approval in principle of the location of the project investment, foreign companies will have to fulfill registration filing invest in management boards of industrial zones, export processing zones, high-tech zone or Department of Planning and Investment of provinces and cities depend on each specific case. Time to grant investment registration certificate under the provisions of the current law is 15 days to 30 days of submitting a complete dossier to the competent authorities.
→ Step 3: Register for the establishment of enterprises. After completing the investment certificate for the project, foreign companies must conduct business registration procedures. Under current regulations, the time to complete the establishment registration is 05 business days from the date of submission of a complete dossier to the competent authorities
You need to provide us more information. Are you a foreigner or are you are Vietnam citizen. Opening a factory require licenses and other safety requirement procedure.
It also depends what kind of products are you planning to manufacture.
Customers’ acquisition/target should be planned before you decide to invest. Write a business plan if that would help.
Now for the “how does it work”, I will explain briefly:
In Vietnam, foreign investors can own 100% of the manufacturing companies. There are 2 most common legal entity in Vietnam, which are LLC(Limited liability company) and a joint-stock company(JSC). Most small to medium size business go for LLC, and it can have up to 50 shareholders. However, for JSC, is for larger business entity, that has more complex operation or shareholders.
Setting up manufacturing is similar to other foreign investment company, but government requires extra licensing and safety requirement(fire/environment…)
Typically there are 3 steps:
☑ Investors interested in the service set up factories in Vietnam, please contact the Law Firm LHD (Top 10 leading lawyers advice foreign investors in Vietnam)