You want to set up an import-export trading company in Vietnam, so what to do, what are the documents and procedures? LSX will help you answer this question as follows:
Legal grounds:
– Commercial Law 2005
– Enterprise Law 2020
– Decree 69/2018/ND-CP
What is import-export?
So, According to the provisions of Article 28 of the Commercial Law 2005, import and export activities are defined as follows:
– Export of goods means that goods are taken out of the territory of Vietnam or brought into a special area located in the territory of Vietnam which is considered a separate customs area according to the provisions of law.
– Import of goods means that goods are brought into the Vietnamese territory from abroad or from a special area located in the territory of Vietnam which is considered a separate customs area according to the provisions of law.
Accordingly, based on socio-economic conditions from time to time and international treaties to which Vietnam is a member state, the Government may stipulate that it is possible to list exported and prohibited imports, list goods, imported under permits of competent state agencies and licensing procedures.
Import-export business right of the Enterprise
So, Pursuant to Article 3 of Decree 69/2018/ND-CP stipulating the autonomy of import and export business as follows:
“1. Vietnamese traders who are not foreign-invested economic organizations may trade in export and import and carry out other related activities regardless of their registered business lines, except for goods on the list of banned exports and imports as prescribed in this Decree; other goods banned from export or import as prescribed by law; goods temporarily suspended from export or import. Branches of Vietnamese traders may conduct foreign trade activities as authorized by traders.
2. Foreign-invested economic organizations and branches of foreign traders in Vietnam, when conducting export and import activities within the scope of this Decree, must comply with Vietnam’s commitments in international treaties to which Vietnam is a member countries, the List of goods and routes announced by the Ministry of Industry and Trade, and at the same time comply with the provisions of this Decree and other relevant legal provisions.”
In addition, the Enterprise Law 2020 stipulates that “import and export business is the right of enterprises.
Accordingly, all enterprises can conduct import and export business in accordance with the provisions of law.
Procedures for set up an import-export company
Step 1. Prepare documents and submit them at the Department of Planning and Investment
So, Dossier for set up of an import-export company includes:
– Application for registration of business establishment.
– Charter of the company
– List of members/shareholder companies (depending on the type of company selected)
– Valid copy of identity card/passport of the legal representative, company owner, members of the company
– Authorization letter for authorized person to carry out business registration procedures
– A copy of the identity card of the person authorized to carry out business registration procedures
Step 2. Disclosure of business registration information
So, What businesses need to do after being granted a business registration license are:
– Publish company registration information on a national portal within 30 days
– Engrave valid enterprise seal, publicize seal sample.
– Implement hanging company signboard.
– Set up a transaction bank account to report the account number to the Department of Planning and Investment.
– Complete tax declaration and payment
Step 3: Complete the conditions and apply for an import and export license as prescribed.
So, Depending on the industry or product that the enterprise imports and exports, the company needs to meet its own requirements. In that case, businesses should complete the basic conditions and apply for a license to be eligible for import and export in accordance with regulations.
Related articles:
Procedures for setting up a foreign-owned enterprise/company account for 1% to 100% in Vietnam
Setting up a foreign-invested vocational education in Vietnam
Related question:
So, Pursuant to the provisions of the Enterprise Law 2020 and Decree 69/2018/ND-CP detailing a number of laws on foreign trade management, import and export is not a business line, so when business registration, an enterprise does not have to register the import and export business.
So, when doing import-export business, it is necessary to note the exclusion of the list of imported and exported goods according to the list of goods banned from export and import specified in Appendix I of Decree 69/2018/ND-CP dated May 15, 2018.
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