Establishment of a foreign-invested company engaged in shipping business in Vietnam
Foreign investors with modern equipment and extensive experience in the maritime sector in general; As well as shipping in particular, will have a great advantage if you contribute capital to establish a company with foreign capital doing shipping business in Vietnam. However, the issue of sea and islands is national sovereignty; and has a direct impact on national security. Therefore, Vietnamese law has quite strict regulations for foreign investors when doing business in this field. We invite you and your friends to learn through the following article of Lawyer X: “Establishment of a foreign-invested company engaged in shipping business in Vietnam”, as follows:
Legal grounds
Enterprise Law 2020
Conditions for foreign investors to operate shipping business in Vietnam
– About choosing sea transportation services:
Foreign investors when wishing to invest in the shipping business in Vietnam; You can choose one of two types of ocean freight services:
+ Firstly, Sea freight service with CPC code 7222
+ Secondly, Or sea passenger transport service with CPC code 7221
– Regarding capital contribution limit: According to current regulations of Vietnamese law; In the joint venture, the foreign investor’s capital contribution must not exceed 49%.
– Regarding the nationality of ships: In Clause 1, Article 8 of the Vietnam Maritime Code 2015 there are regulations on baggage; passengers and goods when transporting inland by sea; must be transported by ships of Vietnamese nationality.
– About investment method:
To invest in the shipping business in Vietnam; Foreign investors can go through the following two ways:
+ Capital contribution; purchase shares or contributed capital of a shipping company operating in Vietnam
+ Establishing a joint venture company through the signing of a joint venture cooperation contract between a foreign investor and a partner in Vietnam
About crew members:
+ The total number of foreign crew members working onboard Vietnamese ships must not exceed one-third of the minimum number of crew members on board.
+ The first mate or captain of the ship must be a Vietnamese citizen
– Some other conditions on organizational structure, financial resources, human resources, etc.
Some regulations on the order of establishing a company with foreign capital doing shipping business in Vietnam
In this article, lawyer X will guide you and your friends on the process of setting up a foreign-owned company doing shipping business in Vietnam through the form of a joint venture company, including specific steps: can be as follows:
Investment registration for foreign investors
The profile includes:
– Firstly, Application form wishing to invest in the actual project
– Secondly, Some documents have legal value in certifying information of organizations or individuals as investors
– Firstly, Document outlining investment plan
Valuable documents prove that the investor has enough financial capacity to carry out the project they propose.
Papers stating the need for land to be used or documents determining the rights to the land intended to be used for project implementation
– Technology explanatory document (applicable to specific cases as prescribed)
– Some other documents and papers.
Establishment of a company with foreign capital to provide sea transportation services in Vietnam
Required documents:
– The document certifying the investment license to realize the project as obtained in step 1 then
– Application form for the establishment of a company with foreign capital providing sea transportation services in Vietnam
– Depending on the type of business, it will have to provide: A list of general information about the founding shareholders for a joint-stock company; or information about members who contribute capital to create a liability company with two or more members, etc.
– Some documents have legal value in certifying information of organizations or individuals as investors then
– Some other documents and papers
Public announcement of business information on the National Business Management Data System Page
Engrave the company’s seal, notify the seal sample immediately to the competent authority
Foreign investors need to apply for a business license if they want to do shipping business in Vietnam because this is a conditional business line as prescribed by law.
The prescribed documents include:
– Firstly, A written declaration of information and a proposal for a business license
– Secondly, Letter of guarantee from a bank branch or a credit institution in a foreign country
– Thirdly, Documents certifying the registration of ships
– Finally, Provide certificates, qualifications for each title in the management department of the company in the field of mining, shipping business.
The Vietnam Maritime Administration is the competent agency to receive and process the above dossier.
Related article
- Change of business registration to increase the company’s charter capital in Vietnam
- Procedures for company dissolution in Vietnam
Related questions
A seal includes a seal made at a seal engraving establishment or a seal in the form of a digital signature in accordance with the law on electronic transactions. The enterprise shall decide on the type, quantity, form, and content of the seal of the enterprise, its branches, representative offices, and other units. The management and preservation of the seal shall comply with the provisions of the company’s charter or regulations issued by the enterprise, branch, representative office, or other units of the enterprise with the seal. Enterprises use seals in transactions as prescribed by law.
According to the provisions of the current Enterprise Law, how much capital is declared is the right of the enterprise, the enterprise declares and is responsible for the charter capital of the company. Except for industries that require legal capital, enterprises must register the capital level in accordance with the law, but they do not need to prove the capital source, but only ensure that they are responsible for the declared capital and sufficient margin. regulated by certain industries.
According to Article 12 of the Law on Enterprises 2020, which regulates the legal representative, there is no provision that a person can only legally represent one company. Therefore, a person can concurrently stand as the legal representative of many companies, unless that person is the legal representative of the company whose tax identification number is suspended/locked/in the process of business dissolution.
Contact LSX Lawfirm
Finally, hope this article is useful for you; answer the question about: “Establishment of a foreign-invested company engaged in shipping business in Vietnam“. If you need more information, please contact LSX Law firm: +84846175333 or Email: [email protected].
Conclusion: So the above is Establishment of a foreign-invested company engaged in shipping business in Vietnam. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com
