Vietnam is considered as a large market to develop the express delivery service industry both domestically and internationally. Seeing that potential, many companies have been established by foreign investors to provide express delivery services. As a foreign investors establish delivery service business in Viet Nam; what procedures should be followed? Let’s go with LSX Law Firm to find the answer through the following article!
Decree No. 118/2015/ND-CP
Decree No. 78/2015/ND-CP
Law on Investment 2020
Enterprise Law 2020;
Circular No. 16/2015/TT-BKHDT of the Ministry of Planning and Investment
Conditions for foreign investors to establish delivery service business in Viet Nam
When a foreign investor establishes a courier service company, it is necessary to understand the following basic conditions:
Firstly, finance: Foreign investors must ensure their financial ability when investing and provide all kinds of documents proving their financial capacity such as asset verification, savings books, bank accounts. row. Some industries under the field of express delivery also require minimum capital, for example, international postal services need at least 5 billion VND, or domestic postal services need at least 2 billion VND. Therefore, foreign investors must pay attention.
Secondly, capital contribution ratio: Vietnamese law allows foreign investors to invest in express delivery services with capital ratios from 1% to 100%. That is, foreign entrepreneurs can invest from 1% of capital to 100% of capital to open a company, depending on their ability and financial capacity.
Lastly, other conditions: Having a business project suitable for the field of express delivery, suitable to the conditions of Vietnam, ensure all conditions on employee safety, labor safety, information security.
Documents for registering the establishment of a foreign-invested express company
When a foreign investors establish delivery service business in Vietnam, it is necessary to prepare the following documents:
Dossier to apply for an investment license
Foreign investors who open a courier service business in Vietnam need to apply for an investment license. Procedures for applying for an investment license include:
– An application for an investment license.
– ID card, passport, identification card together with documents verifying legal status with consular receipts. Documents proving the investor’s financial capacity such as financial statements, bank account verification, etc.
– Proposal on investment projects.
– Proposal on land use demand if the enterprise uses leased land in Vietnam.
Dossier submitted to Department of Planning and Investment for investment license after 15 days.
Dossier to apply for a business registration license
After obtaining the investment registration license, the foreign investor needs to compile a dossier to register the establishment of a foreign-invested express delivery company. Specific profiles include:
– Investment License;
– An application for a business registration license (establishment of a delivery company);
– The company’s charter is drafted by the enterprise;
– Identity card, passport, citizen identification card notarized copy for individuals and business registration certificate, establishment decision… for organizations.
– List of shareholders and members who own shares and will contribute capital to the delivery company.
The procedures after establishing a foreign-invested delivery company
Foreign investors who establish a delivery service business need to complete the following procedures:
- Firstly, announcement of business registration contents
- Secondly, need to hire and use accounting services
- Lastly, complete tax return and payment; capital contribution to the company; the procedure for hanging signs and issuing invoices; purchase of digital signature; bank account registration; the seal engraving for the company
Hopefully, through the article sharing about the issue of Foreign investors establish delivery service business in Viet Nam, it will bring useful information to businesses in the first time of operation, if you need any further information, please contact LSX Lawfirm: 0833102102
Firstly, sector code 5320 : Delivery
Secondly, sector code 5310 : Postal
Agency receiving dossiers Business Registration Office at the Department of Planning and Investment.
Processing time: The Department of Planning and Investment will consider and issue a business registration license for the enterprise after 3-6 days if the application is valid.