REGISTER A COMPANY IN VIETNAM - STEP BY STEP GUIDE 2023
Discover how to register a company in Vietnam - LHD Law Firm advice
Register a company in Vietnam - Step by step guide 2023
Vietnam is a Southeast Asian country on the South China Sea known for its long history, tropical climate and complex culture. Its coastline stretches over 3,444 kilometers, and its territory includes more than 3,000 islands.
Vietnam's economy has been growing rapidly in recent years, making it an attractive destination for foreign investors. If you're thinking of starting a business in Vietnam, you'll need to register your company with the government.
The process of registering a company in Vietnam is relatively simple and can be done online. You'll need to submit a number of documents, including your business license, company charter, and proof of address. Once your company is registered, you'll be able to start doing
business in Vietnam.
Why Register a company in Vietnam?
There are many reasons to register a company in Vietnam. The country has a rapidly growing economy and is attracting foreign investment. Setting up a company in Vietnam allows businesses to tap into this growing market.
Vietnam is also a strategic location for businesses. The country is situated in Southeast Asia, making it a gateway to this region. Businesses that register in Vietnam can use the country as a base to export goods and services to other Southeast Asian countries.
Another reason to register a company in Vietnam is the country’s low cost of labor. This makes Vietnam an attractive destination for businesses looking to set up manufacturing operations.
The Vietnamese government is also supportive of foreign businesses. The government has enacted laws and regulations to make it easier for foreign businesses to operate in Vietnam.
All of these factors make Vietnam an attractive destination for businesses looking to expand their operations. Registering a company in Vietnam can help businesses tap into the country’s growing economy and take advantage of its strategic location.
The process of Registering a company in Vietnam
The process of Registering a company in Vietnam is not as complicated as one might think. The first step is to find a reputable business registration company that can help with the paperwork and filing of the necessary documents. Once the company is registered, the next step is to obtain a business license from the local government. The last step is to open a bank account in the company's name.
What are the benefits of Registering a company in Vietnam?
There are many benefits to registering a company in Vietnam. First, it creates a legal entity that can be used to conduct business in the country. This can be helpful for businesses that want to establish a presence in Vietnam but are not sure if they want to commit to a long-term lease or investment. Second, a registered company can apply for a business license, which is required for many businesses in Vietnam. This can streamline the process of starting a business in the country. Finally, a registered company can apply for tax incentives, which can save the company money on taxes.
What are the requirements for Registering a company in Vietnam?
To register a company in Vietnam, you will need to submit the following documents to the Department of Planning and Investment:
- A registration form
- A business registration certificate
- A feasibility study or business plan
- A list of shareholders and their respective shares
- A charter
- An application for an investment registration certificate
- A lease agreement or ownership certificate for the company's premises
- A bank statement or proof of capital
- A list of the company's directors and officers
How to Register a company in Vietnam?
To register a company in Vietnam, you will need to submit several required documents to the Department of Planning and Investment (DPI). These include a feasibility study, a business registration application, a company charter, and proof of capital. Once your company is registered, you will be issued a business registration certificate. You will also need to obtain a business license from the DPI, which will allow you to legally operate your business in Vietnam.
STEP BY STEP REGISTER A BUSINESS IN VIETNAM
Procedures for establishing a foreign-invested company from 1% to 100% capital of foreign investors are as follows.
Step 1: Prepare the application for the Investment Registration Certificate
Apply for an Investment Registration Certificate, including:
A written request for the implementation of an investment project.
Documents certifying legal status:
For institutional investors: A copy of the Certificate of Establishment or other equivalent document certifying the investor's legal status as an organization.
For private investors: Copy of identity card / identity card or passport of the private investor.
Investment project proposal includes investor implementing the project, investment purpose, investment scale and investment capital content. Capital mobilization plan, location, time, investment progress, labor demand, investment incentives proposal, impact assessment, socio-economic efficiency of the project.
Register your business in Vietnam in the form of capital contribution right from the start
Proof of investor's financial capacity:
For institutional investors: Financial statements of investors for the last two years. Or promise financial support for the parent company. Or, we promise financial support from financial institutions. Or ensure the financial capacity of the investor. Or a written explanation of the investor's financial capacity.
For individual investors: Check your account balance and passbook.
Head office lease contract, written confirmation of the lessor's right to lease (the lessor's land use right certificate, construction permit, business registration certificate with real estate business function) or equivalent document).
Proposing land use needs; The location proves that the investor has the right to use the site to implement the project if the project is not allocated or leased land by the State or the land use purpose is not changed. copy of the tenancy agreement or other document. Current investment projects;
An explanation describing the use of technology in an investment project for a project using technology on the List of technologies restricted from transferring under the Law on Technology Transfer, including: machinery, equipment and technical lines main art.
Step 2: Submit application for investment registration certificate
Issuance of Investment Registration Certificate for investment projects not subject to decision on investment policies:
Declare information about investment projects online on the National Foreign Investment Information System
Before carrying out the procedures for issuance of an Investment Registration Certificate, investors must declare online information about their investment projects on the National Foreign Investment Information System. Within 15 days from the date of submitting the online application, the investor must submit the investment registration dossier at the Investment Registration Authority.
After the Investment Registration Authority receives the application, the investor will be granted an account to access the National Information System on Foreign Investment to monitor the processing of the application.
The investment registration agency uses the National Foreign Investment Information System to receive, process and return investment registration results, update the application processing status and issue project codes.
Step 3: Issue an investment registration certificate
Within 15 days of receiving the complete application, the investment registrar shall issue an investment registration certificate. In case of refusal, the investor should be notified in writing and the reason should be clearly stated.
Step 4: Prepare the documents and submit the application for the business registration certificate
After the investment registration certificate has been granted to the foreign investment company, the investor shall carry out the procedure for granting the corporate registration certificate in the same manner as the procedure for establishing a Vietnamese company.
Application documents for company registration certificate
Business registration application.
Regulations of the Company
List of members (for limited liability companies with two or more members; list of founding shareholders and shareholders who are foreign investors (list of authorized representatives if there are institutional shareholders).
Copy of the following documents: Citizen ID card, personal ID card, passport, or other legitimate personal ID of an individual member.
Establishment decisions, business registration certificates, or other equivalent documents regarding the organization and adult guardianship. Citizen ID, personal identification, passport, or other legitimate personal identification information of an official representative of a member of the organization
For members of a foreign organization, a copy of the business registration certificate or equivalent document must be consular legalized.
Determine capital contributions and the appointment of managers. List of approved representatives (for members of the organization);
An investment registration certificate for investors has been granted.
Step 5: Announce the contents of the business registration information
After the company registration certificate has been granted, the company must publish it on the National Business Registration Portal. At the same time, the publication fee must be paid as required by law. The published content includes the content of the company registration certificate and the following information.
List of founding shareholders; in the case of a legal entity, a list of shareholders who are foreign investors (if any).