The company with 100% foreign capital means? Dossier of establishment of a company with 100% foreign capital? LSX Lawfirm will also give you the answer according to this article:
Law on investment 2020
Law on enterprises 2020
The company with 100% foreign capital means?
Accordingly, a Company with 100% foreign investment capital is an enterprise foreign investors owned and established in Vietnam. Foreigners are responsible for their own management and self-responsibility for business results.
Related article: Service of applying for an investment license for foreign investors
Dossier of establishment of a company with 100% foreign capital
- Firstly, application for business registration
- Secondly, Company charter with 100% foreign capital
- Thirdly, list of members/ List of founding shareholders and shareholders being foreign investors
- Joint venture contract, for the form of investment in the establishment of a joint-venture economic organization between a domestic investor and a foreign investor, or a business cooperation contract, for the form of a business cooperation contract.
- In case a joint venture investment project uses state capital, a competent agency’s written approval of the use of state capital for investment is required.
- Then, copy for dossier of establishment of a company with 100% foreign capital:
+ Citizen identification cards or People’s identity cards or passports of members being individuals.
+ The establishment decision, the enterprise registration certificate of the organization and the power of attorney; lawful personal identification papers of the authorized representative of the member being an organization.
+ Finally, certificate of business registration or equivalent document must be consular legalized for members being organizations Investment registration certificate for foreign investors.
The agency that licenses the establishment of a company with 100% foreign capital
Accordingly, the licensing agency continues to be decentralized to the people of the province. Then, the management committee and the management board of industrial parks, export processing zones and high-tech zones. For some important or sensitive business areas; the issuance of investment certificates by the provincial People’s Committee or the Board of Directors must be based on the investment policy or economic plan approved by the Prime Minister.
Importance of investment certificates to foreign individuals and organizations in Vietnam related to dossier of establishment of company with 100% foreign capital?
Investment certificates also serve as business registration certificates. The law will issue an investment certificate as part of the investment registration and/or evaluation process based on the type of project, the size of the investment capital, and whether the project is in the sector. conditional investment or not.
Investment certificates for foreign investment projects will have a fixed term of not more than 50 years; which the law can extended for up to 70 years with the approval of the Government.
The investment certificate will set out the specific scope of business activities that the law allowed foreign investor to conduct in Vietnam; the amount of investment capital; the location and area of land to use; and related incentives. (if any).
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