Procedures to establish management consulting firm with foreign capital in Vietnam

In modern society, the economy grows day by day, resulting in the increase in demand to establish a company as well as the need for the quantity and quality of products by consumers. The types of companies diversified from the form of business cooperation to the form of ownership and use of capital, typically companies with foreign capital. So what is the procedure for establishing an international company, in particular, a management consulting firm with foreign capital? This article LSX legal firm will give you the answer to: “Procedures to establish management consulting firm with foreign capital in Vietnam”

Legal ground

• Law on Investment 2020

Foreign-invested company

Foreign-invested company means a type of company that receives financial support and uses money from investment activities supported by foreign countries.

Briefly, an investment from an individual or organization with economic potential that voluntarily pays for business activities to earn profits in the future:

• A company established by a foreign investor to carry out investment activities in Vietnam.
• Vietnamese companies merged or acquired by foreign investors.

Procedures to establish management consulting firm with foreign capital

In general, a foreign-owned management consulting firm can be established as a normal business in Vietnam with just a few additional conditions. The procedures to establish a management consulting firm with foreign capital:

Step 1: Apply for an investment registration certificate for individuals and organizations with foreign capital.

Dossiers include:

1. A valid copy of the identity card or passport for the investor as an individual. Certificate of establishment or other equivalent document certifying the legal status of the investor as an organization.
2. The investment project proposal includes the following contents: investors implementing the project, investment objectives, investment scale, investment capital and capital mobilization plan, location, duration, investment progress, labor demand, impact assessment, and socio-economic efficiency of the project.
3. A copy of one of the following documents: the investor’s financial statements for the last 2 years; commitment to the financial support of the mother company and financial institution; guarantee on the financial capacity of the investor; document explaining the financial capacity of the investor.
4. Office lease contract, documents proving the lessor’s right to lease.
5. Proposed demand for land use; In case the project does not request the State to allocate land, lease land, permit the change of land use purpose, then submit a copy of the location lease agreement or other documents certifying that the investor has the right to use the site to carry out the investment project.
6. Explanation of technology use for investment projects using technologies on the List of technologies restricted from transfer under the law.
7. BCC contract for investment projects in the form of a BCC contract.

Investors register their investment at the Department of Planning and Investment of the central province or city. In about 15 working days from the date of receipt of valid documents, an investment registration certificate will be issued.

Step 2: apply for a qualified certificate for a management consulting business

In terms of the business line, the management consulting business investment requires certain conditions that investors must satisfy to operate the business.
The application for a certificate ensures the correct implementation of the law as well as the quality of business for conditional business lines.

Step 3: Apply for an enterprise registration certificate

Dossiers include:

• The application form submits to the business registration office requesting the certificate to establish a sanitary ware trading company.
• Draft of company charter.
• List of founders as well as members.
• Authenticated legal papers of members.
• Valid identification papers of the authorized representative and the legal representative.
• Legal capital confirmation document.
• Certificate of business registration (for organizations).
• Investment registration certificate for foreign investors.

Then, submit the application at the Business Registration Office of the Department of Planning and Investment at the province level where you plan to locate the head office of your Company.

Step 4: Post-establishment procedures.

Receiving a Business Registration Certificate is just the first step in putting your company into operation. After that, you have to do the following series of procedures:

• Notice the use of the company’s seal sample.
• Bank account notice (if your company registers a bank account).
• Tax procedures such as license declaration and payment of license fees, Tax on corporate headquarters inspection,…
• Trademark protection (if you need it).
• …

After carrying out these procedures, your Company can go into operation.

LSX legal firm’s service on company establishment

When establishing a company, people must carry out the procedure following the law at the competent business registration authority (under the Law on Enterprise 2020). The process of establishing a business includes many different steps and phases. If you are not familiar with the law, this process may take a lot of time.
With a team of experienced, reputable, and professional consultants; The firm is always ready to support and work with clients to solve legal difficulties.
Furthermore, using our service, you do not need to do the paperwork yourself, We guarantee to help you prepare documents effectively and legally.
Also, you will not have to waste time preparing the application, submitting application, or receiving results. At those stages, we will help you do it smoothly.
After all, LSX provides the service with the desire that customers can experience it the best way. Additionally, we guarantee the cost to be the most suitable and economical for customers.

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