Foreign investors who want to invest in business and establish a company in Vietnam, in addition to having to meet the same conditions as domestic enterprises, also need to meet specific conditions for foreign investors. LSX Lawfirm will five you an article about: “Service of setting up a company for foreigners in Vietnam”, as follows:
Legal grounds
Law on enterprises 2020
Law on investment 2020
Some basic concepts about establishing a company by foreign investors in Vietnam
Accordingly, Foreign investor means an individual or organization as defined by the Law on Investment.
- Firstly, “Investor” means an organization or individual that carries out business investment activities. Investors include domestic investors, foreign investors and foreign-invested business organizations.
- Secondly, “Foreign investor” means an individual holding a foreign nationality or an organization established under foreign laws and carrying our business investment activities in Vietnam.
- Thirdly, “Domestic investor” means an individual holding Vietnamese nationality or a business organization whose members or shareholders are not foreign investors.
- Then, “Business organization” means an organization established and operating in accordance with Vietnam’s laws. Business organizations include enterprises, cooperatives, cooperative unions and other organizations that carry out business investment activities.
- Finally, “Foreign-invested business organization” means an organization whose members or shareholders are foreign investors.
Service of setting up a company for foreigners in Vietnam
Conditions for setting up a company for foreigners in Vietnam
Some basic conditions foreign enterprises need to meet the same as domestic enterprises:
- The company name of the foreign investor must comply with the provisions of Vietnamese law, without causing confusion or duplication.
- The address of the head office for the establishment of a company must be legally owned by the foreign investor, and must not be located in an apartment complex, a dormitory area, etc.
- Then, Charter capital of the company depends on the industry, foreign investors must meet the same requirements.
- Legal representatives or members/shareholders in companies with foreigners must have full civil act capacity and satisfy all conditions as prescribed by law, etc.
- The, Foreign investors need to meet the conditions for conditional industries specified in Appendix 4 of the 2020 Investment Law.
- In addition, Foreign investors are not allowed to establish companies dealing in industries banned from doing business in Vietnam.
- And then, some other related conditions.
Service of setting up a company for foreigners in Vietnam
Foreigners who want to establish a company in Vietnam basically go through the following procedures:
Firstly, the first step is to apply for an investment certificate.
Secondly, after obtaining the investment certificate, the investor proceeds to establish a business:
- Submit the application to establish a company at the Department of Planning and Investment.
- Then, Monitor records, edit or add if necessary.
- Then, get the result of establishing a company with foreigners.
- The investor then engraves and announces the use of the seal sample
Thirdly, complete the necessary tax procedures as prescribed.
Related article: Dossier of establishing a company with foreign investment in Vietnam
Related questions
-Application form for establishment of a limited liability company with foreigners in Vietnam.
-Charter of a limited liability company with foreigners in Vietnam.
-List of members of companies with foreigners in Vietnam (for LLCs with 2 or more members).
-A copy of the organization’s business registration, if the investor establishing the company in Vietnam is an organization.
-Personal identification papers for owners, members, legal representatives of limited liability companies with foreigners in Vietnam
-Some other documents on request depending on the case, industry, etc.
-Application form for establishment of a joint stock company with foreigners in Vietnam.
-Charter of joint stock companies with foreigners in Vietnam.
-List of shareholders of joint stock companies with foreigners in Vietnam.
-A copy of the organization’s business registration, if the investor establishing the company in Vietnam is an organization.
-Personal identification papers for shareholders, legal representatives of joint-stock companies with foreigners in Vietnam.
-Some other documents on request depending on the case, industry, etc.
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