Vietnam is currently one of the emerging nations with policies promoting market access that draw numerous foreign investors. Evidence demonstrates that in the last five years, international investors’ investments have caused a remarkable increase in the flow of FDI into Vietnam. In light of this, Vietnam Law would like to provide you with some crucial details regarding the steps involved to register company in Vietnam.
Investment Registration Certificate:
The Investment Registration Certificate may be issued by:
- Outside Industrial Parks, Export-Processing Zones, Hi-Tech Zones, and Economic Zones;
The following certificates of investment registration company must be received, issued, adjusted, and revoked by the Service of Planning and Investment of the province where the investor proposes to establish the head office or operating office to carry out the investment project:
- Any investment undertaking that spans several provinces;
- Any investment undertaking carried out within or without industrial parks, exports processing zones, hi-tech zones, and economic zones
- The application you must submit to request an Investment Registration Certificate
- A formal petition asking for authorization to carry out the investment project;
- A duplicate of the investor’s passport or ID card (if they are an individual); a replica of the certificate of establishment, or another document equivalent, attesting to the investor’s legitimacy (if the investor is to register the company in vietnam);
- An investment proposal that details the following: the investor(s) in the project, the investment objectives, the scale of the investment, the amount of capital invested, the method of raising capital, the location and duration of the investment, the labor demand, requests for investment incentives, and an evaluation of the project’s socioeconomic effects;
- Copies of the investor’s financial statements for the last two years, the parent registration company’s financial support commitment, the financial institutions’ financial support commitment, the guarantee of the investor’s financial capacity, or a description of the investor’s financial capacity;
- The lease for an office, the documentation proof of the lessor’s rights (at least one of the following: a certificate of land use right, a building permit, a certificate of business registration with the lessor’s real estate business listed as a primary function);
a copy of the lease agreement or other documents certifying that the investor has the right to use the premises to carry out the project must be submitted if the project does not use land that has been allocated, leased out by the State, or is not permitted by the State to change the purpose of land.
A justification for how technologies were used in the project that is listed on the List of technologies prohibited from transfer under the Technology Transfer Law, which includes information on the names of technologies, their origins, a process diagram, basic specifications, requirements for machinery and equipment, and the primary technological line;
Proceed to Register the Investment Registration Certificate:
In order to invest, an investor must first register by declaring information about investment proposals online on the National Foreign Investment Information System. The investor sends the application file for the Investment Registration Certificate to the Investment Registration company within 15 days of the date of online filing.
The investor receives an online account to access the National Foreign Investment Information System after the application is submitted, allowing them to follow the application’s progress and outcomes.
If the application is approved, the investment registration agency will issue a code through this account to the investment project; if the application is denied, this agency is required to notify the investor in writing and provide an explanation of why.
Register the Business Registration Certificate:
Retailing is the sale of goods to other people, households, and organizations for consumption, as defined by Decree 09/2018/ N-CP, which prescribes goods trading and activities directly relating to the sale and purchase of goods by foreign investors and economic organizations with foreign investment capital in Vietnam.
In order to export, import, or wholesale goods, the investor is not required to issue a business license (not belonging to the categories of goods: oil, lubricant, rice, sugar; video items; books; newspapers, and magazines). When selling goods and placing them in retail locations, investors are required to issue business licenses. This is the best step to register a company in Vietnam.
