Commercial services are goods exchange activities, including export, import; wholesale and retail services. This is one of the basic services of the economy, retail is one of the commercial activities that investors are very attentive, especially foreign investors who want to expand the consumption market products in Vietnam. Foreign investors who want to do retail business in Vietnam must apply for a business license before retailing goods. In this article, LSX Lawfirm gives some legal opinions on dossier for licensing retail distribution of foreign capital companies in Viet Nam as follows.
Investment law 2020
Enterprise law 2020
Conditions for granting a business license
Conditions for granting a business license are as follows:
- In case a foreign investor belongs to a country or territory that is a contracting party to an international treaty to which Vietnam is a contracting party, there is a commitment to open the market for goods trading and activities directly related to the sale and purchase of goods. Goods must meet the following conditions:
- Firstly, satisfy the conditions on market access in international treaties to which Vietnam is a contracting party;
- Secondly, having a financial plan to carry out the activities requested for a business license;
- In case a foreign investor is not a member of a country or territory participating in an international treaty to which Vietnam is a contracting party, the following conditions must satisfy:
- Firstly, having a financial plan to carry out the activities requested for a business license;
- Secondly, comply with the provisions of specialized laws;
- Thirdly, consistent with the level of competition of domestic enterprises in the same field of operation;
- Fourthly, ability to create jobs for domestic workers;
- Lastly, ability and level of contribution to the state budget.
- For goods being rice; Street; recorded items; Books, newspapers and magazines: Consider licensing the exercise of retail distribution rights to foreign-invested economic organizations that already have retail establishments in the form of supermarkets, mini-marts, and convenience stores. retail at those establishments.
Dossier of application for a business license of a foreign-invested company
- Application for a Business License
- The explanation reads:
+ An explanation of the conditions for the grant of the corresponding business license as specified in the Business License Conditions section of this article;
+ Business plan: Describe the content and method of conducting business activities; presentation of business and market development plans; labor demand; assess the impact and socio-economic efficiency of the business plan;
+ Financial plan: Report on business results on the basis of audited financial statements of the latest year; in case it has been set up in Vietnam for 01 year or more; explanation of capital, capital sources and capital mobilization plans; accompanied by financial documents;
+ Business situation of goods purchase and sale activities and activities directly related to the purchase and sale of goods; the financial situation of the foreign-invested economic organization up to the time of application for a business license; in case the enterprise has a foreign investor investing in the form of capital contribution or share purchase, buy capital contribution
- Documents from tax authorities proving that there are no past due tax debts.
- Copy: Certificate of business registration; Certificate of investment registration in the project of goods trading and activities directly related to the purchase and sale of goods (if any).
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Finally, hope this article Dossier for licensing retail distribution of foreign capital companies is useful for you.
Investors are required to meet the investment conditions of WTO commitment;, international treaties on investment that Vietnam has signed or acceded to and domestic laws.
Restrictions on the percentage of capital contribution are set for some specific conditional occupations that investors intend to register.
In addition, there are still popular industries with unlimited capital contribution to encourage investment.
Currently, investor nationality is no longer restricted from receiving investment; except for a few nationalities who are not allowed to receive investment because it affects national defense; security; politics and social order…