Still uncertain about doing business in Vietnam? After forming conditions. Vietnam Business Culture: What You Need To Know. Knowing Vietnam business culture can contribute greatly to the success of your doing business with Vietnamese partners. This article will guide key information about the legal procedure for starting your business! 1.1. The IC is the official license allowing foreign investors to carry out business activities in Vietnam. The Investment Registration Certificate is granted first since it is the prerequisite to obtain the Business Registration Certificate. Investment Registration Certificate and Enterprise Registration Certificate. An investment authority can only issue an ERC to an enterprise when they fulfill the following requirements: The investment registration certificate with its acronym IRC is an e-document with the information of the registered investment project. Home About PCB About us Business Registration Certificate Joint Stock Company. Within 15 working days from the date of receipt of a complete and valid dossier, the competent authority shall grant the investment registration certificate for investors. Market entry advice. You must ensure that your business activities are not prohibited in Vietnam and that the name given to the company complies with the provisions of Vietnamese law. An investor must first engage in an investment project and prepare an application dossier (file) to apply for an Investment Certificate (IC), which is also considered to be the business registration for the enterprise. For foreign companies investing in Vietnam for the first time, they must be surprised by the investment procedures as well as the licenses required to start operations. For investment projects that are subject to investment policy decision, once the investment authority has received the investment policy, they have to issue the investment registration certificate to an investors no more than 5 business days. Especially, for businesses operating in the printing industry, one of the conditional business lines in Vietnam, it is important to know the procedures for investment registration, business registration … Duration as indicated on the business registration certificate. Investment registration and Enterprise registration certificate in Vietnam ; Investment registration and Enterprise registration certificate in Vietnam. A joint stock company in Vietnam is the only business form allowed to issue shares. With several specific sectors, after setting up the company, the company shall be also required to obtain sub-license for officially operating. Enterprise registration certificate, also known as ERC, can be a soft copy or a hard copy file containing information of enterprise registration. According to the Law on Investment, an investment registration certificate is a document (can come under electronic form) that acknowledges the information on an investment project registered by an investor. Here is a complete guide for foreigners to open a bank account for both individual and enterprise. International investors are obliged to obtain an Investment Registration Certificate (“IRC”) from the municipal/provincial Department of Planning and Investment (“DPI”) in relevant provinces in Vietnam. While some industries still require foreigners to form a joint venture with a Vietnamese, Vietnam has consistently liberalized its foreign investment regime and most industries now allow full ownership by foreigners; The most popular corporate vehicle to do business in Vietnam is the limited liability company. These certificates are presented in Vietnamese. The IC is the official license allowing foreign investors to carry out business activities in Vietnam. Decree 1 affirms the business registration number of a company is also the company’s tax code, and furthermore, be the company’s number for units participating in the social insurance system; The … Business cooperation contract; amendment of investment certificate, company re-registration and conversion; Procedures are detailed step-by-step, from the user's point of view. According to ‘Doing Business Report 2019’ article of the World Bank, the time-period for starting a business in Vietnam … We will handle the entire registration process and submit the dossier on your behalf so that you don’t have to think about this part of investing in Vietnam. Vietnam Certificate of Good Standing. Company Registration Services in Vietnam Foreign investors can form several kinds of legal entities with a Limited-Liability Company (LLC) and a Joint-Stock Company (JSC) being the most popular choices … ENTERPRISE REGISTRATION CERTIFICATE (ERC) DEFINITION. However, in case the application is not qualified, a notice will be sent to you under a written form which clearly states the reasons why your application is turned down and what you need to modify or add to your dossier. An investor must first engage in an investment project and prepare an application dossier (file) to apply for an Investment Certificate (IC), which is also considered to be the business registration for the enterprise. VietnamCredit is the first company in Vietnam to provide information on companies and industries . If you are a foreigner who wishes to establish your own business in Vietnam, there are two very important types of business registration certificates in Vietnam that you must know: enterprise registration certificate and investment registration certificate. Business registration certificate of the branch and representative office will be withdrawn in three circumstances: (i) contents in the dossier registering business of branch and the representative office is counterfeit, (ii) branch or representative office stop operating for a year without notification to Business Registration Agency; or (iii) upon the court’s decision or … CONTACT. What Is an Enterprise Registration Certificate in Vietnam? For foreign companies investing in Vietnam for the first time, they must be surprised by the investment procedures as well as the licenses required to start operations. 07/2006/TT-BTM guiding the procedures for issuance and management of the Certificate … Having registered investment licenses, business registration record automotive industry, components, automobile assembly, maintenance and repair of automobiles. Corporate Income Tax is calculated based on the income of the entity (i.e. However, it has been made possible by hours given that the applicant provides all required information: It is advisable that you engage a trustworthy company formation and business registration agency for the certificates registration in Vietnam. Cekindo Business InternationalShark building - 3rd & 8th Floor29 Nguyen Van Mai StreetWard 8, District 3Ho Chi Minh City 72408, Vietnam +84 28 3535 0019 vietnam@cekindo.com. The business name is not the same as those of government organizations. The most updated business and financial news on Vietnam Economy with facts & figures will be covered. Find the advice of our lawyers specialising in business law in Vietnam. The business registration agency shall examine the validity of the enterprise registration dossier and grant an enterprise registration certificate within 3 working days after receiving such dossier. The most common ones are: The business name is not completely the same or confusingly identical to those of other enterprises. District business registration office or Finance/Economic Division at the District level-if business is a household business; Validity of the License and application fee. Setup enterprise registration certificate vietnam “ERC” at LHD Law Firm, the Top Vietnam law firm with Location at Ha Noi, Ho Chi … Likewise, the processing time may take a few weeks (around 15 days) but it might take a longer period if your business investment needs additional approval from higher-level government agencies. Vietnam Foreign Contractor Tax: What Is It and How to Pay? Vietnam Company Documents As company incorporation agents our experience and relationship with the Business Registration Department of Vietnam means, we can obtain registry copies of company documents and conduct comprehensive Vietnam company searches… Details on project operation site and land area to be used; Investment capital of the project (including investor’s contributed capital and mobilized capital) and schedule of capital contribution and raising; Investment incentives and supports (if any); Conditions on the investor that carries out the project (if any); Written proposal of the investment project operation; Identity card or similar identification document if you are an individual investor, or establishment certificate or similar document if you are an organization; Proposals of details on investment project: details on the investor carrying out the investment project, objectives, scope, capital, capital raising plan, location, duration, schedule, labor demand, incentives of the investment project, and assessment of its socio-economic impacts and benefits. Business households: 30.000 VND; Private enterprises, Partnerships: 100.000 VND One-stop Company and Business Registration. Below is a sample of an Investment Registration Certificate: 5. Start a business in Vietnam Sample of Enterprise Registration Certificate. The business registration agency shall examine the validity of the enterprise registration dossier and grant an enterprise registration certificate within 3 working days after receiving such dossier. In some cases, if the nature of business acitivity falls under the Negative List, some sub-licenses of business will be required. Thus, it is very necessary for you to know in-depth what the differences between the two certificates are, when and how to apply for each type, so that you do not accidentally mess up your legal process of incorporation in Vietnam. If the registered capital on the business registration certificate or investment certificate is in a foreign currency, then the registered capital amount will be converted into Vietnamese Dong in … It is not necessary for our clients to visit Vietnam to complete Vietnam company registration, … Having the license guarantees the operation of the new company include: Certificate of base warranty, maintenance of cars Tax and other requirement. Tax Losses . Set up and manage your oversea company across the globe, Open corporate bank accounts in offshore financial centers and leading financial hubs in Asia, Fulfill annual reporting requirements with outsourced accounting and auditing activities, Start receiving online payments with a merchant account, Enhance your business image with a mailing address in prime locations, Make informed decisions with news and insights. Copy of a document proving the investor’s ability and financial capacity; Copy of a document showing the investor’s right to use the land used for carrying out the investment project; Business Corporation Contract if the investment project involves such contract. Requirements for an Enterprise Registration Certificate in Vietnam, 1.3. the exercise certificates of directors or associates. 07/2006/TT-BTM guiding the procedures for issuance and management of the Certificate of Origin and some other sub-law documents. The required documents vary according to the types of business to be registered. Posted 5.11. Within this article, Sophie Dao, a lawyer at GBS, a business law firm in Vietnam provides an overview on the Company Registration Process and Documents Required for Company Registration in Vietnam. Planning to open a company in Vietnam or looking for assistance with business registration certificates in Vietnam, the following are our list of startup services. Particularly, an investment registration certificate in Vietnam contains the following information: Normally, in order to apply for an investment registration certificate in Vietnam, you need to submit the following documents to a business registration agency* (a part of Vietnam’s Department of Planning and Investment): *If your investment project is located in industrial zones, export-processing zones, hi-tech zones or economic zones, then the management boards of these zones will be responsible for issuing an investment registration certificate to you. Certificate of Origin is stipulated in Decree No. To set up in Vietnam, foreign investors must obtain an investment certificate/license and carry out a company registration process. 19/2006/NĐ-CP providing detailed guidelines on the Law on Commerce on Origin of goods, Circular No. This certificate can be seen as proof showing your business is officially formed in Vietnam with approval from the government. You’ll need approval from the Department of Planning and Investment (typically in the form of an Investment Registration Certificate, IRC) for your project in Vietnam, and then an Enterprise Registration Certificate … The World Bank cited that Vietnam has transformed from being one of the world’s poorest countries into growing middle-income country over the past thirty years. Basis of Taxation . hbspt.forms.create({ As a foreign investor in Vietnam, after being approved to establish a wholly foreign owned company, the competent authorities will issue 2 certificates for the investor, namely Investment … css: "" "Business" Required to be Registered and Application for Business Registration. 2019 by Cekindo / Last update on 2.12. Searching of Company Information on Vietnamese National Business Registration Portal After addressing the National Business Registration Portal, Enter tax code / business code into the search … Renewal of Business Registration. The business registration agency shall examine the validity of the enterprise registration dossier and grant an enterprise registration certificate within 3 working days after receiving such dossier. 19/2006/NĐ-CP providing detailed guidelines on the Law on Commerce on Origin of goods, Circular No. BBCIncorp is always willing to help! With several specific sectors, after setting up the company, the company shall be also required to obtain sub-license for officially operating. Vietnam Virtual Office vs Co-Working Space: Which to choose? Long ago, from 2005 to 2014 to be exact, you only needed to apply for an investment registration certificate when registering your company in Vietnam. Decree 1 affirms the business registration number of a company is also the company’s tax code, and furthermore, be the company’s number for units participating in the social insurance system The Decree sets out the language for licensing applications which was not regulated clearly in previous Decrees. National Business Registration Information Portal; Agency for Business Registration; Business Registration Supporting Center; Business Registration Offices; Vision – Mission – Core values; Business Registration Reform; Public Services. Vietnam Credit Information Joint Stock Company Headquarter: Room 1303B, Vietcombank Tower, 198 Tran Quang Khai Street, Hoan Kiem District, Hanoi. Certificate of Investment Registration; Certificate of Enterprise Registration. Known as the second China, Vietnam has achieved its economic openness and robustness today with a lot of efforts over the years. The items stated below are the details of company registration procedure in Vietnam: The registration process used to take a long time. Learn more on how it differs from a traditional physical office! Preparation for Company Registration Delays are often encountered where the required preparation has not been completed. Business in Vietnam: Investment Registration Certificate The investment registration certificate with its acronym IRC is Opening a bank account for foreigners in Vietnam isn’t that hard. The registration records indicate that LLC’s are the most common type of companies to be incorporated. Certificate of Origin is stipulated in Decree No. Find out key features of this type and how it is different from an LLC in Vietnam! What Is an Investment Registration Certificate in Vietnam? Enterprise registration certification is the must-have certificate when you set up a business in Vietnam. Overview of Enterprise Registration Certificate in Vietnam. And, establishing an enterprise (an economic organization) is considered as an investment activity/project in Vietnam according to chapter IV of the Law on Investment. The Vietnam Certificate of Incorporation is issued by the Business Registration Department and we can provide a registry copy of the company incorporation certificate. Per the Enterprise Law 2014, every enterprise must receive an enterprise registration certificate (“ERC”) prior to beginning operations, which will be issued by the provincial level State Business Registration Authority (“SBRA”). With this report, you will acquire copies of the Business Registration Certificate/ Enterprise Registration Certificate and the Articles of Association/Charter of Company. After forming conditions. Vietnam business registration summary. The step-by-step process of company registration in Vietnam #1 Investment registration certificate. A foreign-owned Limited Liability Company (LLC) is the most common company structure for foreign-owned startups in Vietnam. portalId: "1804570", Companies in Vietnam must also get a business registration certificate … A General Guide to Limited Liability Company In Vietnam. 2.2. Address of the head office of the enterprise; telephone number, fax number, and email address; Charter capital (in case of an enterprise) or investment capital (in case of a sole proprietorship); Types of shares, value per share and the total number of shares by type which may be sold (in case of a joint-stock company); Full name, signature, permanent residence address, nationality, and personal identification document of a sole proprietor (in case of a sole proprietorship) or each partner (in case of a partnership); Full name, signature, permanent residence address, nationality, and personal identification document of the business’s law representative, in case of limited liability companies and joint-stock companies. Here we walk you through both the benefits and challenges of Vietnam business to reach your final decision! Almost all businesses in Vietnam need to register for VAT. Post-registration … On the other hand, application must be submitted by the investor for projects that are not subject to investment policy decision. Making a company seal is one of most important steps when you set up business in Vietnam. Company registration in Vietnam has seen tremendous growth over the past few years. 1.2. Application for an Enterprise Registration Certificate in Vietnam, 2. You must apply for an enterprise registration certificate in order to form your business in Vietnam. There are four key considerations: 1) Clarify your Business Lines and Scope Vietnam’s accession to the WTO required that the nation opened its economy to foreign investment in a wide range of business lines. (except cases of establishing SMEs being innovative start-ups or start-up investment funds in relation to the SMEs support program under Vietnam laws, effective from 2021). After being approved to establish a wholly foreign owned company in Vietnam, the competent authorities will issue 2 certificates for the investor, namely: Investment Registration Certificate; When foreign investors own at least 51% of charter capital of the investment projects, the investment registration certificates become mandatory. International investors are obliged to obtain an Investment Registration Certificate (“IRC”) from the municipal/provincial Department of Planning and Investment (“DPI”) in relevant provinces in Vietnam. Application for an Investment Registration Certificate in Vietnam, ​Room 9, 4F, Beverley Commercial Centre, 87-105 Chatham road South, Tsim Sha Tsui, Kowloon, Hong Kong, 2 Essential Business Registration Certificates in Vietnam for Foreigners. company formation and business registration agency, How to Set up a Business in Vietnam in 2021, Minimum Capital Requirement in Vietnam For Foreign Companies, Important Things to Consider before Selling a Business in Vietnam, How to Open an Outlet in Vietnam: A Guide for Foreign Investors, How to Start Selling Food Products without Registering a Company in Vietnam, A Guide to Partnership Registration in Vietnam, An Introduction to Processing Contract in Vietnam, The business name is in compliance with Vietnam Law, Enterprise registration documents are complete, The enterprise registration fee and other charges are paid in full, The founder or the authorised individual has to submit a complete registration dossier to the registration agency, The registration agency will check if the submitted documents are complete and valid in 3 days, If the application is refused, a notification in writing will be sent to the founder or the authorized person with reason and requirements stated, In addition, all foreign companies in Vietnam must also meet other specific conditions under Investment Law and Enterprise Law. Cekindo is your top choice for your business registration certificate, be it investment registration certificate or enterprise registration certificate, in Vietnam because of our years of experience and expertise as a legal and business consultant. Pre-INCORPORATION advisory. The reason is that, back then, an investment registration certificate in Vietnam can also act as an enterprise registration certificate, according to the Law on Investment published in 2005. Below are key highlights of this business structure! Vietnam virtual office is an emerging trend for business people investing in Vietnam in recent years. Having the license guarantees the operation of the new company include: Certificate … Hotline: +(84) 28 3931 22 66 In short, there are 2 essential business registration certificates in Vietnam that you must know: enterprise registration certificate and investment registration certificate. Key highlights include business restrictions, needed documents, and associated costs. First of all, you must obtain an investment registration certificate from the... #2 Business registration … Adjustment of Certificate of Business registration in Vietnam Foreign-invested company making changes of Certificate of Investment registration is acquired to manage the below procedure: Step 1 : The company firstly needs to separate Certificate of Business registration and Certificate of Investment registration … Our minimum rate is 4,000USD. The business registration authority that issues the Certificate of branch/representative office registration shall inform the business registration authority in charge of the administrative division where the enterprise’s headquarter is situated, send information about registration of the branch/representative office to the tax authority, statistics authority … }); Follow @twitterapi !function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src="//platform.twitter.com/widgets.js";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); Cekindo is a leading consulting firm of Market-Entry and Corporate secretarial services to clients expanding and operating in Vietnam and further to Southeast Asia. The application may require more documents depending on your business activities and investment. Vietnam company registration is time consuming, though GBS will normally complete the tasks within ten weeks. 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