STARTING A BUSINESS IN VIETNAM
Starting a business in Vietnam, With comprehensive and adequate knowledge of legal as well as the business environment in Vietnam. LHD Law Company Ltd can provide clients with legal advisory opinion most helpful in all areas of investment, established companies with foreign investment capital in Vietnam:
- Apply for investment license (certificate) for investors who are individuals, organizations and foreign companies in Vietnam;
- Apply for investment license (certificate) associated with the establishment of projects, enterprises and foreign affiliates for individual investors, institutions, foreign companies in Vietnam;
- Registration of business lines, operation contents for investment projects, enterprises, branch associated with investment projects for private investors, institutions, foreign companies in Vietnam;
- Registration of application for import and export, distribution, wholesale, retail;
- Registration for examination of investment projects.
Procedures for setting up businesses abroad invested in Vietnam, including the steps taken to establish the following:
I. CONDITIONS ESTABLISHED COMPANY WITH FOREIGN INVESTMENT CAPITAL:
As organizations and companies (in operation since 1 year and older), foreign individuals wishing to invest in the form of established companies (JSC, joint venture, Company Ltd a members or two or more members) in Vietnam.
II. RECORDS ESTABLISH COMPANY WITH FOREIGN INVESTMENT CAPITAL:
Profile implementing procedure establish companies with foreign investment capital in Vietnam
· A written request for issuance of investment certificate (form I-3. Investors see instructions on how to sample text in Appendix IV-1 of Decision No 1088/2006 / QD-BKH 19 / 10/2006 of the Ministry of Planning and Investment).
· Report on the financial capacity of the investor by investor made and responsible for the content, the report must clearly reflect the investment capital sources that investors use to invest and investors have sufficient financial capacity to implement the project. Investors may also submit confirmation of the bank account balance (for individual investors) or Financial Statement (for investors being legal) to prove.
· Draft Charter of the Company corresponding to each type of business (Co., Ltd a member; Co., Ltd 2 members or more; JSC). The company draft charter must have sufficient signatures: The legal representative, the company's owners, members or representatives authorized for limited companies; Legal representative, of the founding shareholders or their authorized representatives of the founding shareholders for joint stock companies. (The contents of the charter must be fully in accordance with Article 22 of the Law on Enterprises).
· Member List corresponding to each type of enterprise (form I-8 or I-9 of Decision No 1088/2006 / QD-BKH dated 19/10/2006 or form II-4 of Circular No. 14/2010 / TT-BKH dated 04/6/2010 of the Ministry of Planning and Investment)
· Documents certifying the legal status of the investor: For investors as individuals: A valid copy of one of the personal identification documents: identity card, passport or other legal personal identification papers still valid (Article 24 of Decree dinh43 / 2010 / ND-CP of the Government dated 15/04/2010). For investors being legal: Applying for the profile of the establishment of Company Ltd two or more members, JSC and partnerships: Valid copy of the decision of establishment, certificate of business registration or other equivalent document. Applying for the profile of the establishment of one member Company Ltd: A valid copy of the establishment decision, the certificate of business registration or other equivalent document, charter or other equivalent documents of owners company (unless the owner is a State company). For documents of foreign organizations, the text must be consularly legalized (copy notarized or certified by the issuing agency no more than 3 months before the filing)
· Decide on authorization / written authorization of investors for authorized persons in case the investor is organized and valid copy (notarized copy), one of the personal identification papers of authorized representative.
· The joint venture contract for the form of investment establishes venture economic organization between domestic investors and foreign investors (See Article 54 of Decree 108/2006 / ND-CP dated 22/09 / 2006).
· In case of investment projects using state capital must have the written approval of the use of state capital for investment by the competent agencies.
III. ORDER PROCEDURES ESTABLISHED COMPANY WITH FOREIGN INVESTMENT:
• Number of applications submitted: 04 sets of records (including 01 original in Vietnamese or Vietnamese and common foreign language) is bound into each book.
• Time to consider and grant investment certificates from the date of receipt of a valid application: 15 working days.
• Time to register and grant tax registration certificates (tax code) is 05 working days from the date of issuance of investment certificate.
Registration change procedures for business
• The duration of the procedures of seal engraving is 04 working days after filing (after the investment certificate).
Note when the procedures established enterprises with foreign investment capital
• In case, the investor authorizes the organization or other individual carry out the procedures of investment when filing in Department of Planning and Investment must present ID card / passport / Authentication legitimate personal and written authorization .
• The text in a foreign language must be translated into Vietnamese and certified by organizations with translation functions.
• For the purposes of the management in the localities, as well as facilitate the review of the lawfulness of the location, recommended investors to present the legal documents relating to head office address and location of the project implementation (valid copy of the lease contract location notarized or the relevant legal documents prove legal right to use that place) enclosed with the dossiers.
Lawyers of LHD Law Firm
If you need more information about services supporting foreign investment consultancy in Vietnam, please contact the LHD Law Firm.
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