The Vietnamese government currently has many open policies in place for foreign investors. They have a wide range of investment options in the Vietnam territory, and the most favored is investing to form a foreign-invested company. A foreign-invested company means a company established in Vietnam with capital sources coming from foreign individuals and organizations. In this article, LSX legal firm would like to give you a guide on: “Look up foreign-invested companies online in Vietnam”
Legal ground
- Law on Investment 2020
- Law on Enterprise 2020
- Decree 01/2021/ND-CP
- Circular 47/2019/TT-BTC
Foreign-invested company
The current laws of Vietnam do not give a specific definition of “Foreign invested company“. However, Article 21 of the Law on Investment 2020 stipulates for forms of investment as follows:
Article 21. Forms of investment
1. Investment in the establishment of a business entity.
2. Investment in the form of capital contribution or purchase of shares or stakes.
3. Execution of an investment project.
4. Investment in the form of a business cooperation contract.
5. New forms of investment and types of business entities prescribed by the Government’s regulations.
On the other hand, Article 3 gives the definition for the following terms:
21. “business entity” means an entity established and operating in accordance with Vietnam’s laws. Business entities include enterprises, cooperatives, cooperative unions, and other entities that carry out business investment activities.
22. “foreign-invested business entity” means an entity whose members or shareholders are foreign investors.
So, we can understand a “foreign invested company” means a business entity formed by:
- The establishment of enterprises, cooperatives, cooperative unions, and other entities that carry out business investment activities.
- Investment in the form of capital contribution or purchase of shares or stakes in a business entity.
The right to be provided with information of enterprises
According to the Law on Enterprise 2020, after being granted an enterprise registration certificate, an enterprise must make a public announcement on the National Enterprise Registration Portal.
Article 32. Publishing of enterprise registration information
1. After an enterprise is granted the Certificate of Enterprise Registration, it shall announce it on the National Enterprise Registration Portal and pay the fee as prescribed by law. The announcement shall include the content of the Certificate of Enterprise Registration and:
a) The enterprise’s business lines;
b) The list of founding shareholders and foreign shareholders (for joint stock companies).
2. Any change to enterprise registration information shall be announced on the National Enterprise Registration Portal.
3. The information mentioned in Clause 1 and Clause 2 of this Article shall be published for 30 days.
On the other hand, the Law on Enterprise 2020 also provides the right to be provided with enterprise registration information for persons demanding it.
Article 33. Provision of enterprise registration information
1. Organizations and individuals are entitled to request business registration authorities to provide information on the National Enterprise Registration Information System and pay fees.
2. Business registration authorities shall fully and promptly provide information in accordance with Clause 1 of this Article.
3. The Government shall elaborate on this Article.
In particular, Article 36 of Decree 01/2021/ND-CP stipulates specific regulations for the provision of enterprise registration information as follows:
Article 36. Provision of enterprise registration information
1. The following information shall be available and provided free of charge on the National Business Registration Portal at https://dangkykinhdoanh.gov.vn, including the enterprise’s name, enterprise ID number, headquarters address, business lines, full name of the legal representative, and legal status of the enterprise.
2. The entities that have demands for enterprise registration information as prescribed in Clause 1 Article 33 of the Law on enterprises shall submit the request for provision of enterprise registration information on the National Business Registration Portal or to provincial-level business registration authorities.
3. Business registration authorities shall provide information about enterprises stored on the National Enterprise Registration Information System. Provincial-level business registration authorities shall provide information about enterprises on the National Enterprise Registration Database within
their management.
What information about businesses allowed to be provided?
The basic information of enterprises is publicly available, free of charge. However, if you need to collect information in the form of documents, you must pay the prescribed fees to the business registration agency, specifically the fees specified in Circular 47/2019/TT-BTC:
| Stt | Content | Units | Rate |
| 1 | Business registration fee (includes: Issuance, re-issuance, change of contents of Certificate of enterprise registration and Certificate of operation registration of branches, representative offices, and business locations of enterprises ) | VND / each time | 50.000 |
| 2 | Fee for providing business information | ||
| a | Provide information on the Certificate of Business Registration; Certificate of operation of branch, representative office, business location | VND / each time | 20.000 |
| b | Provide information in the enterprise registration dossier; Provide financial reports of all types of businesses | VND / a copy | 40.000 |
| c | Provide synthesis reports on businesses | VND / a copy | 150.000 |
| d | Announcement of business registration contents | VND / each time | 100.000 |
| đ | Provide business information by account from 125 copies/month or more | VND / month | 4.500.000 |
- Provide synthesis reports on business registration including General report on the founder and management of the enterprise for 3 years; General report on business history in 03 years; General report on the latest business registration information; Statistical report on the list of enterprises; General report on the financial situation of the enterprise in 03 years; List of 100 enterprises on request; Other information products built on the basis of extracting and aggregating data from the National Database on Business Registration.
- Providing business information by account: the provision of business information to an account that is pre-registered at the Business Registration Support Center under the Business Registration Administration to meet the needs of business registration to learn, exploit and synthesize business registration information in large quantities, over a long period of time.
Look up foreign-invested companies online
Firstly, access the National Business Registration Portal at: https://dangkykinhdoanh.gov.vn
Secondly, enter tax code/business number or business name in the search box in the left corner and search.
Then, the results will appear, containing the business name to be searched.
If you look up the company by tax code or business code, the exact results will be displayed.
In the case of searching by name, the displayed results will be businesses with the same or similar name. Click on the business you are looking for to view detailed information.
The results will include the following information:
- Company’s name; company name in foreign language; Abbreviated business name.
- Operational status.
- Business code.
- Company type.
- Date of commencement of establishment.
- The name of the legal representative.
- Head office address.
- Business lines according to the Vietnam Economic Sector System.
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Contact LSX
This article contains information about “Look up foreign-invested companies online in Vietnam”. In recent years, we have supplied effective legal advice to businesses and individuals at reasonable prices and with efficient results. We always update and keep our operations and services in line with the law by adhering to legal principles. If you need any further information from the firm’s solicitors, please contact LSX Law firm: +84846175333 or Email: [email protected]
See more
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How long does it take to start a foreign-invested company in Vietnam?
Establishing a foreign-invested enterprise in Vietnam
Frequently asked questions
– Apply for Investment Registration Certificate
– Apply for Enterprise Registration Certificate
It will take 15 to 30 days to apply for a Investment Registration Certificate and 3 to 5 days for a Enterprise Registration Certificate.
Foreign individuals and organizations that contribute capital, purchase shares, or purchase capital contributions from Vietnamese enterprises from 51% or more of charter capital must carry out investment procedures at competent authorities according to the Law on Investment.
Conclusion: So the above is Look up foreign-invested companies online in Vietnam. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com
