Vietnam is considered a rich and beautiful country. This is also the target of foreign investors. How to establish business organizations by foreign investors, let’s find out with LSX Lawfirm according to the article below:
Legal grounds
Law on investment 2020
Decree No. 31/2021/ND-CP
The procedure for
The procedure for establishment of business organizations by foreign investors
- Firstly, in the case of execution of a new investment project, the foreign investor shall follow procedures for approval of investment guidelines and issuance of the investment registration certificate to the new investment project, and procedures for establishing a business organization in accordance with regulations of law corresponding to each type of business organization.
- Secondly, in the case of receipt of an investment project and establishment of a business organization, the foreign investor shall follow procedures for issuance of the investment registration certificate (if such project that the law issued with the investment registration certificate) or adjustment of the investment registration certificate (if such project the law issued with the investment registration certificate) and procedures for business organization establishment in accordance with regulations of law corresponding to each type of business organization.
Note: Foreign investors could not establish of business organizations in cases:
- Firstly, if a start-up SME is established to execute an investment project or contributes capital or purchases shares or stakes in a start-up SME to execute the investment project, the foreign investor shall follow the procedures applicable to domestic investors in accordance with regulations of Law on Enterprises without having to follow the corresponding procedures.
- When establishing an enterprise for the only purpose of managing a startup investment fund in Vietnam in accordance with regulations of law on provision of assistance for SMEs or contributing capital to this fund, the foreign investor shall follow the procedures in accordance with the corresponding regulations of the Law on Provision of Assistance for Small and Medium-sized enterprises without having to follow the procedure.
Related article: Forms of foreign investment under Vietnamese Law
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Procedures for adjusting investment certificates
Procedure for adjusting investment projects in Vietnam
Investment in establishment of a business organization in Vietnam
Conduct of investment activities by foreign-invested business organizations
In addition, documentation and procedures for establishment of the business organization shall comply with regulations of law on enterprises or other law corresponding to each type of business organization.
Finally, Charter capital of a business organization established by a foreign investor for execution of an investment project is not necessarily equal to the investment capital of the investment project. Then, the business organization established by the foreign investor shall contribute capital and raise capital from other sources to execute the investment project according to the schedule on the investment registration certificate.
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