How to invest in VietNam

Therefore, the amount of foreign investor invests in Viet Nam market more and more increase according to time.

In order to help foreign investors have more knowledge as well as knowing about the procedure of setting up a foreign company. Laws provides for you the useful writing below:

I. THE CUSTOMER’S DOCUMENT NEED TO BE PREPARED

1. In case The foreign investor is personal

- Copies of the ID card or passport of the investors;

- The legalization of the bank account balance of the investor;

2. In case The foreign investor is an organization

- The legalization of Business Certificate or relative documents;

- The Audited financial statement of the company for at least 2 years. In case of the company operates under 1 year, the investor needs to prepare the extra the legalization of bank account balance.

II. PROCEDURE OF SET UP  THE FOREIGN- INVESTED COMPANY

To set up foreign-invested company, the procedure includes 2 steps:

Step 1: Procedure for insurance of Investment registration Certificate

Step 2: Procedure for insurance of Business Registration Certificate

1. PROCEDURE FOR INSURANCE OF INVESTMENT REGISTRATION CERTIFICATE (IRC)

The document includes:

1. A written request for permission for execution of the investment project;

2. The investor is personal: A copy of the ID card or Passport

The investor is an organization: a copy of Business Registration Certificate or relative documents;

3. An investment proposal;

4. Copies of any of the following documents: financial statements of the last two years of the investor; commitment of the parent company to provide financial support; commitment of a financial institution to provide financial support; guarantee for investor’s financial capacity; description of investor’s financial capacity

5. Demand for land use or lease office principle agreement;

6. The explanation for the application of technologies to the project that uses technologies on the List of technologies restricted from transfer prescribed by regulations of law on technology transfers;

7. BCC contract;

Time to proceed according to theory: 15 days from the day receiving valid dossier. In real, time to proceed may be the last 30-35 days.

Depending on each situation of the investor, the dossier changes.

2. THE PROCEDURE TO INSURANCE OF BUSINESS REGISTRATION CERTIFICATE

After having IRC, company submits the dossier including IRC to Business Registration Agency to do the procedure to insurance of Enterprise Registration Certificate- ERC.

The document includes:

- An application form for business registration;

- Company’s charter;

- List of members;

-  List of founding shareholder and shareholder is a foreign investor;

- List of copy ID card, passport of the owner and the legal representative;

- The decision on Establishment, Certificate of Business registration, or an equivalent document of the organization and the letter of authorization; the ID card or other ID papers of the authorized representatives of members being organizations;

- A copy of Investment Registration Certificate;

Time to proceed: 03-05 days from the day receipt the valid dossier

III. THE PROCEDURES NEED TO DO AFTER RECEIVING BUSINESS REGISTRATION CERTIFICATE

1. Announcing Business registration information
This procedure will proceed at the same time with the time submit the dossier to insurance of ERC. The state fee is 300 000 Viet Nam Dong
2. Make a company seal and announcing seal information
Each company has their private stamp. The information on the stamp includes the company’s name, enterprise identification number, and the name of the province where the business is located.
3. Buying digital signature in order to make tax report
From 2019, the new company has to buy a digital sign to proceed with the procedure of tax online.
4. Buying a digital invoice
From 11/2018, the new company has to use electronic bill, not using paper bill, 2 days from the day inform to insurance of bill, the company is allowed to insurance bills legally.
5. Making company signs
6. Opening a bank account

The legal representative of the company contacts directly to the Bank in order to open the company account after having information about a valid stamp.

IV. OUR WORK

After signing a service contract with the customer, we will:
Step 1: Drafting necessary documents to establish the company and the send to customer sign and stamp
Step 2: Submitting dossier for issuance Investment registration Certificate and Business registration Certificate at competent authorities
Step 3: Receiving the Investment registration Certificate and Business registration Certificate
Step 4: Announcing Business registration information
Step 5: Make a company seal and announcing seal information
Step 6: Instruction the procedure about buying digital invoice, buying digital signature, open bank account