Foreign investors investing in Vietnam in the form of establishing a new legal entity need to apply for an Investment Registration Certificate (“IRC”) first for its “investment project”, then continue by applying for and obtaining an Enterprise Registration Certificate (“ERC”) to establish the new company after the IRC is issued. To gain access to this system, businesses must get an electronic signature. Learn more about setting up a joint-stock company in Vietnam by reading our other articles. The standard positions that each company must have in Vietnam, include: Note: These 2 positions can be of any nationality, however there may be Work Permit matters to consider for foreign appointees. Fast start. Foreigners are allowed to register their company in Vietnam for starting a business. The economy of country is the 47th largest economy in World. Documents required for standard applications for the establishment of a foreign-owned enterprise in Vietnam are listed below. Representative offices in Vietnam can act on behalf of a foreign parent company. Acclime works with investors to ensure they understand how the above will apply to their specific situations in Vietnam before they start the company establishment process, Get in touch with us Reach us Monday – Friday: 8.30am to 5.30pm (UTC+7), © Acclime Vietnam document.currentScript.insertAdjacentHTML('afterend', ''); | Privacy policy, Decree 1 covering enterprise registration in Vietnam. With an ample amount of cheap labor supply, Vietnam is a great option for investors who want to expand to the APAC region. A director who is a foreign national and not a founder of the company will need a work permit in Vietnam. JSC is a company established by at least 3 investors, regardless individual or institutional, local or foreign. Once there, the Business Registration Office will publish the sealed sample in the National Business Registration Portal and send a receipt to the company. For a worldwide registry of most companies engaged in any type of financial transaction (stocks, bonds, derivatives, foreign exchange, etc.) Charter and/or Articles of Incorporation of the Investor and all amendments thereof; Passport/ID Card of the authorised representative(s) of the Investor; Bank statement, or bank letter for the Investor: the balance of account must be equal to or more than the value of the charter capital of the local company; Lease Contract (or pre-lease contract) in relation to the local company’s office in Vietnam and documentation related to the landlord. Failure to do so will result in fines. Company Registration Services in Vietnam. In a few selected industries, company registration in Vietnam is only allowed in a joint venture agreement with a Vietnamese individual or corporate … It must say that you will use the location for your business after incorporation. Specifically: • Investment Capital (IC): this is total funds that is to be invested into the company by the Investors. Your business will need Ministry-level approval from one or more ministries. The increasing demand and the scarcity of supply is giving many distributors the option to push up the prices of nitrile gloves. We will also take care of maintaining compliance with local employment laws. JSC’s have more requirements, including a minimum of 3 shareholders, and are preferable for companies which may have a need to issue shares to more parties in the future. In general, Vietnam government encourages foreign direct investment. • Partially Restricted and requiring a local joint venture partner: tourism, advertising, logistics, etc. Below we provide some insights into the key aspects of undertaking the business and expand its presence in Vietnam: Forms of Enterprises to Consider. The two most common types of legal entities in Vietnam are: An LLC can have 1 to 50 members, also known as founders or owners. Vietnam Business Services and Vietnam market entry solutions and expertise to companies and entrepreneurs wishing to take advantage of the attractive quality-to-cost ratio of Vietnamese manufacturing operations or seeking to access Vietnam's growing market for imported goods and services. ... Vietnamese company means any enterprise that is established or registered under Vietnam’s law and has its headquarter located in Vietnam. The Department of Planning and Investment will assess if your capital contribution is in line with your business. On 15 October 2020, the Vietnam Government released Decree 122/2020/ND-CP (“Decree 122”) regulating the procedures for company registration in Vietnam, and incorporating initial labour usage declaration, Social Insurance registration and tax invoice usage registration.. Instead, he or she will have to apply for a work permit exemption. BOT, BTO and BT A company register is a register of legal entities in the jurisdiction they operate under, for the purpose of protection, accountability and control of legal entities. A company must register one or more business lines and investment objectives (attaching to the “investment project”), subject to conditions or limitations regarding certain investment sectors in Vietnam. Business Setup. We handle everything. He or she must also provide a bank statement bearing his or her name. see Legal Entity Identifier. Foreign investors can form several kinds of legal entities with a Limited-Liability Company (LLC) and a Joint-Stock Company (JSC) being the most popular choices of company registration in Vietnam. 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