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The procedure to set up a new foreign company in Vietnam?

Last Updated: 4/7/2020

Before setting a new foreign company in Vietnam, the investors must be known and considered some Vietnam regulations according to Vietnamese Law.

The investors can consider in this linkHow to set up a new foreign company in Vietnam?

1. Provided customer documents: 

     + The foreign investor is personal

          • Copies of the ID card or passport of the investor;

          • The bank account balance of the investor;

     + The foreign investor is organization:

          • The legalization of Business Certificate or relative documents;

          • Audited financial statement of the company at least 2 years. In case of company operate under 1 year, the investor needs to prepare the extra the legalization of bank account balance;

2. The step by step process of company registration in Vietnam

     • Step 1Applying the Investment Certificate

The first step of any foreign-owned company registration in Vietnam is to obtain an Investment Registration Certificate from the Department of Planning and Investment (DPI).

In general, it takes up to 20 working days to receive it.

However, if your business line does not fall under any WTO commitments or no local laws regulate foreign investment in that business line, the timeline will be significantly longer since the DPI will have to ask for a Ministry-level approval.

     • Step 2Applying the Enterprise/Business registration certificate

The second step is to acquire a Business Registration Certificate (BRC), also known as the Enterprise Registration Certificate (ERC).

Generally, it takes up to one week to receive a BRC/ERC.

     • Step 3Making a company seal and announcing seal information

HD Law professtional consultants will support your enterprise to make a company seal and announcing seal information.

     • Step 4: Instruction the procedure about buying digital invoice, buying digital signature, open bank account

HD Law professtional consultants will support your enterprise buying digital invoice, digital signature, open bank account after setting a new foreign company in Vietnam.

     • Step 5Tax registration and capital contribution

According to Vietnamese Law, the new enterprises will be exempted the excise tax for the first activity year.

Once you have received the Business Registration Certificate,/Enterprise Registration Certificate you have 90 days to make the initial capital contribution.

3. You will need legal advice from a law firm, such as HD Law. We can help you to get information about:

     • Which industry should you invest in now?

     • Is there any regulation or change that might affect your business?

     • Which business areas are the Vietnamese Government encouraging foreign investors to engage in?

     • Which kind of company should you start?

                 - Vietnamese company

                 - Joint stock company

                 - Wholly foreign-owned company

                 - Foreign invested company

                 - Joint Venture company

     • Which business that foreigners cannot own or to be part owners of in Vietnam?

     • How much is the minimum fund for your business?

     • What is the yearly tax rate? What is the rate for your business income tax?

     • Is there any special certificate for your business beside the company license?

     • How long does it take to finish the company license?

     • Are there any requirements in the Vietnamese Law about your company owner?

     • How to transfer money from Vietnam to overseas? How much is the fee and how does it work according to Vietnamese Law?

     • Is there any investment incentive for your business?

     • How do we take care of the monthly and yearly finance reports?

     • How does Vietnamese Law work in any commercial dispute?

This is just an overall look for setting up a new foreign company in Vietnam, we are one stop service provider to set up your company with a reasonable price; professional, quick and great service.

Any support you may need, please contact us today via: 0988.073.181 (Phone/WhatsApp/Viber available) or Email: doanhnghiep@hdluat.com

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