That said, economic reforms are attracting foreign investors, export-orientated manufacturing industries. Home; Services; Articles; Contact; Services. It’s a way to enter the Vietnamese market without incorporating a company. Foreigners are allowed to register their company in Vietnam for starting a business. Get in touch with Emerhub by filling in the form below and our consultants will reach out to you within a few working hours. As your employer of record, we will put your employees on our payroll. To gain access to this system, businesses must get an electronic signature. Waiting to get these documents before importing your goods will delay business operations. Application for Investment Registration Certificate (the “IRC”), Application for Enterprise Registration Certificate (the “ERC”), Initial Post-Licensing Procedures (including arranging Company Seal and publication of notifications of company establishment), Certificate of Incorporation and/or Certificate of business registration of the Investor and all amendments thereof. What is Company Registration in Vietnam? Our consultants will tell you more about this structure. Acclime works with investors to ensure they understand how the above will apply to their specific situations in Vietnam before they start the company establishment process, Get in touch with us Reach us Monday – Friday: 8.30am to 5.30pm (UTC+7), © Acclime Vietnam document.currentScript.insertAdjacentHTML('afterend', ''); | Privacy policy, Decree 1 covering enterprise registration in Vietnam. Emerhub can assist in the process to gain access to this system and maintain compliance with tax regulations. In such cases, the registration process will be longer. There is no limit to the number of shareholders a JSC can have. We are a team of local and international company incorporation agents and tax consultants who can help foreign investors open companies in Vietnam. Changing this will require amending your company’s documents. Documents required for standard applications for the establishment of a foreign-owned enterprise in Vietnam are listed below. It usually takes about a month to receive the certificate. Service-based businesses, like consulting companies, can use a virtual office address. Note that your Business Certificate will state the amount of your capital. Foreigners can register a company in a Vietnam free zone provided they plan to manufacture and export most of their products. Some foreign investors use nominee companies to dodge restrictions in certain industries. A company must register one or more business lines and investment objectives (attaching to the “investment project”), subject to conditions or limitations regarding certain investment sectors in Vietnam. Travel to Vietnam During COVID – My Experience. JSC is a company established by at least 3 investors, regardless individual or institutional, local or foreign. There are also other structures that can be relevant to foreign investors, including: However, these remain most relevant to specific situations or scenarios. No, the company registration procedure in Vietnam is the same for companies with any amount of foreign ownership. Once the receipt is received, the company may start using the seal. On the other hand, a JSC must have a minimum of 3 shareholders. SBLaw would like to provide you some information about Vietnam company registration as follows:. Country after reform gradually integrated into global trade and investment result in its market as the market-oriented economy. Vietnam company registration is time consuming, though GBS will normally complete the tasks within ten weeks. Fill out the form below and our consultants will get in touch with you. However, some industries restrict foreign ownership. It must say that you will use the location for your business after incorporation. BOT, BTO and BT Note that this time frame does not take into account any sublicenses necessary to operate your business.If your company needs additional licenses the process can take up three or four months. We will also assist in completing any procedures necessary. The standard positions that each company must have in Vietnam, include: Note: These 2 positions can be of any nationality, however there may be Work Permit matters to consider for foreign appointees. A safer alternative is to conduct business through a special purpose vehicle. These include manufacturing, restaurants, and retail trading, among others. IC includes equity (charter) capital, and loans. When registering a foreign-owned company in Vietnam, you need an investment registration certificate. Company Incorporation Vietnam Joint-Stock Company in Vietnam Limited Liability Company (LLC) in Vietnam Representative Office 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 of company registration in Vietnam. The Decree links these initial registration steps in one process under the one company registration … The process includes three (3) basic stages: Note: The statutory timings above are the processing with the authorities, and do not include the preparation time for the applications nor the review, preparation or translation of documentation required for the process. The above documents (other than the bank statement/letter) need to go through a legalisation and notarisation process, which will depend on the document and the jurisdiction. Find the advice of our lawyers specialising in business law in Vietnam. A tax register is a register of taxable entities, used … It is not necessary for our clients to visit Vietnam to complete Vietnam company registration, as our local staff do the groundwork. Emerhub’s company registry in Vietnam allows you to conduct background checks on companies registered in Vietnam. Fast start. We will also take care of maintaining compliance with local employment laws. However, there are specific guidelines that foreign investors must know. Our agents have an extensive experience in handling the entire company registration procedure for foreign entrepreneurs, helping them set up their businesses in Vietnam as fast as possible. The documents needed by an individual founder are not the same as the documents needed by a company.An individual founder must submit a notarized copy of his or her passport. As part of the application to establish a foreign-owned company in Vietnam, the company’s capital needs to be detailed in the IRC. It’s becoming increasingly important to find distributors that have a direct relationship with manufacturers and are more likely to have fair prices. Member Registration : Your membership with VietnamBusiness.TV’s online community begins here.. Both of Wholly Foreign Invested Company and Joint Venture Company can be structured as Limited Liability Company … In a few selected industries, company registration in Vietnam is only allowed in a joint venture agreement with a Vietnamese individual or corporate … For a worldwide registry of most companies engaged in any type of financial transaction (stocks, bonds, derivatives, foreign exchange, etc.) A director who is a foreign national and not a founder of the company will need a work permit in Vietnam. Once there, the Business Registration Office will publish the sealed sample in the National Business Registration Portal and send a receipt to the company. • Special Requirements and Restrictions such as the need additional staff accreditation for the license: real estate, accounting services, etc. Companies, once they have received their ERC and completed the initial post-licensing activities, can open bank accounts with Vietnamese banks. Corporate compliance in Vietnam involves the following: Emerhub’s consultants will advise and assist in maintaining compliance in Vietnam. The above information is general in nature, and each specific situation or application will need to be reviewed on its merits. However, the Vietnamese government is cracking down on nominee companies. Before you can import goods into Vietnam, you will need certain certificates and licenses. However, there are some business lines not regulated by WTO agreements nor local laws. 6. If you are planning to file for a trademark or to register a new company name in Vietnam it is a good idea to do preliminary worldwide screening in order to reduce the cost of an exhaustive search. The business registration process is followed up by making company seals and then an announcement of your business in the Business Portal all of which can be very strenuous. Company registration in Vietnam isn't particularly complicated. see Legal Entity Identifier. • Partially Restricted and requiring a local joint venture partner: tourism, advertising, logistics, etc. Company registration in Vietnam Following the trend of society, globalization process is being strongly promoted not only in developed countries but also gradually expanding in developing countries such as Vietnam, which facilitates foreign investors wishing to exploit and develop business networking around the world. These include: Note that your capital should exceed setup and equipment expenses. Business setup. Formation, EIN, legal documents. Learn more about setting up a joint-stock company in Vietnam by reading our other articles. Vietnam Company Registration. It’s important to understand the requirements and process of establishing a foreign-owned company in Vietnam. Company Registration Services in Vietnam. However, if no WTO agreements or local laws regulate foreign ownership in that business line, it will take longer to get the certificate. Complete Guide to Company Registration in Vietnam, Requirements for setting up a company in Vietnam, The step-by-step process of company registration in Vietnam, Setting up a special purpose vehicle in Vietnam, Alternatives to Company Registration in Vietnam, FAQs about company registration in Vietnam, setting up a joint-stock company in Vietnam, sourcing and recruiting candidates in Vietnam, Expat Guide to Buying Property in Vietnam, How to Start an E-Commerce Business in Vietnam, How to Calculate Import Tax and Duty in Vietnam, Minimum Capital Requirement in Vietnam For Foreign Companies. The latest news, articles, and resources, sent to your inbox weekly. Interloop Solutions & Consultancy can make it simple. Companies in Vietnam must also get a business registration certificate (BRC). The items with a red asterisk must be filled in, answering the demographic questions is optional, but we do hope you’ll provide us with your information so that we can know our … The Department of Planning and Investment will assess if your capital contribution is in line with your business. All rights reserved. A company founder can be an individual or a company. The two most common types of legal entities in Vietnam are: An LLC can have 1 to 50 members, also known as founders or owners. Company registration in Vietnam is a straightforward process, but there are specific guidelines for foreign-owned businesses. Result: Business registration office shall issue the certificate of enterprise registration or if the application is not satisfactory, business registration office shall inform the applicant of necessary revisions and supplementation to company. Business Setup. Some examples of businesses that need additional licenses are trading or tourism. A lot of businesses set capital of USD 10,000. Company Formation in Vietnam Vietnam is ideally located to cater to the fast growing market with a large population in Asia. He or she doesn’t need to have residency status at the time of incorporation. In some cases, it is not necessary to set up a company in Vietnam. Contact us Service Vietnam Company Registration Regulator Business registration offices. The procedure below details the process of registering a foreign LLC in Vietnam. © 2011-2021 Emerhub Limited. Up to that point, he or she can appoint local company registration agents who can handle the drafting of the documents related to the incorporation of the business. The article has showed you the best ways to verify whether the business registration certificate of a Vietnamese company is legitimate or not. Companies can take one of two basic forms in Vietnam: LLCs are the most common corporate structure for foreign investors, given their relative simplicity in operation. Specifically: • Investment Capital (IC): this is total funds that is to be invested into the company by the Investors. Vietnam company registration and investment certificate. The Department of Planning and Investment may check the address during the incorporation process. It will come into effect in January 2021. World Trade Organization (WTO) agreements regulate foreign ownership for most business lines. The process of Vietnam Company Formation always has two steps: registration of investment project (to obtain an Investment Registration Certificate) and registration of Vietnam company (to obtain an Enterprise Registration Certificate). Our Services. With an ample amount of cheap labor supply, Vietnam is a great option for investors who want to expand to the APAC region. JSC’s have more requirements, including a minimum of 3 shareholders, and are preferable for companies which may have a need to issue shares to more parties in the future. A representative office cannot generate income locally, but it can perform tasks in support of the parent company. Note that there are some business lines with minimum capital requirements. Your business will need Ministry-level approval from one or more ministries. Note that if the director is also a founder, he or she will not need a work permit. The business license certificate number is also the company’s tax number. Companies also submit tax declarations and reports through this system. If your business does not need to get ministry-level approval, it takes about one month. vietnam company registration Update time 00:00:00, 09/12/2011 - 6574 views Vietnam company formation: Attorney Business Services for foreign companies: collect debts, verifications of information, statements, claiming procedures. In some cases, foreign investors cannot set up a business due to foreign ownership restrictions. Note that LLCs in Vietnam do not have shareholders. Although most sectors are open for 100% foreign investment, there are some restrictions such as: • Fully Restricted: Military related, agricultural land, etc. • Charter Capital: is the “paid-up capital” of the company, an amount of capital that members or shareholders contribute or commit to contribute within a certain period as stated in the company’s charter, and must be fully contributed within 90 days from the date on which the ERC is issued. Concerning company registration in Vietnam, the Vietnamese government has recently made changes to the Company Law in Vietnam which may affect the existing companies in the country. A company register is a register of legal entities in the jurisdiction they operate under, for the purpose of protection, accountability and control of legal entities. However, from our experience, it is possible to open a business service company with USD 3,000. It will allow you to protect and maintain control over your investment without setting up a company in Vietnam. Our corporate establishment and licensing services are designed around simple and practical advice, with clear processes from start to finish. YourGlobalPro can assist in Vietnam for Company Formation, Secretarial Compliance, Tax Registration, VAT Reclaim, Document Retrieval and Trademark Registration. Representative offices in Vietnam can act on behalf of a foreign parent company. Find out how I got approval to re-enter Vietnam and about my journey there during the pandemic. There are alternative ways to enter the Vietnamese market. Vietnam Business Services and Vietnam market entry solutions and expertise to companies and entrepreneurs wishing to take advantage of the attractive quality-to-cost ratio of Vietnamese manufacturing operations or seeking to access Vietnam's growing market for imported goods and services. Company Registration in Vietnam Made Easy. Get in touch with us by filling out the form below. These documents may vary depending on the jurisdiction of the investor, however this provides a general guide as to the documents that are to be lodged with the authorities. The process is far easier, for most banks, than in other countries in the region due to the initial vetting and documentation process undertaken to obtain the ERC, therefore allowing for the banks to rely on this documentation for most of their needs. When it comes to the actual company formation procedure, a foreign enterpriser must travel to Vietnam to complete the registration. Vietnam company registration is difficult for foreign investors because of complex licensing procedures. Emerhub can also assist you in sourcing and recruiting candidates in Vietnam. Foreign investors investing in Vietnam in the form of establishing a new legal entity need to apply for an Investment Registration Certificate (“IRC”) first for its “investment project”, then continue by applying for and obtaining an Enterprise Registration Certificate (“ERC”) to establish the new company after the IRC is issued. In general, Vietnam government encourages foreign direct investment. The increasing demand and the scarcity of supply is giving many distributors the option to push up the prices of nitrile gloves. Vietnam allows 100% foreign ownership of a business in most industries. Being well-prepared will make most of the problems avoidable while starting a business in Vietnam. The Department of Planning and Investment also issues this certificate. It must also submit financial statements from the last two years or a bank statement if the company is less than two years old.Note that if the above documents were issued abroad, you will have to legalize and notarize them in the issuing country. The Vietnam free zone company. You can start importing goods into Vietnam immediately through an importer of record. Charter and/or Articles of Incorporation of the Investor and all amendments thereof; Passport/ID Card of the authorised representative(s) of the Investor; Bank statement, or bank letter for the Investor: the balance of account must be equal to or more than the value of the charter capital of the local company; Lease Contract (or pre-lease contract) in relation to the local company’s office in Vietnam and documentation related to the landlord. Set up a company in Vietnam through Emerhub. With an employer of record in Vietnam, you can hire employees without establishing a company or representative office. Type of Companies Limited liability companies, which may take … Please fill out the form below – Choose either “Individual Member” or become a “Corporate Member”. Under Vietnam Enterprise Law, foreign investors are entitled to form Foreign Invested Company (“FIC”) under either of Wholly Foreign Invested Company or Joint Venture Company.. https://vietnam.acclime.com/news-insights/how-to-register-vietnam-company Step 3: Conducting business registration in Vietnam requires opening a bank account for all private limited companies. Such examples of business lines that need sublicenses include: Certain businesses need to process additional permits. Where the investor is an individual, and not a corporate, then Items 1 and 2 are not required, and only the passport is required. Aside from company registration, Emerhub will also take care of sublicenses or permits you need. The company can then be registered within an industrial park or a special economic zone after review and approval by the relevant authority. The BRC is also known as the Enterprise Registration Certificate (ERC). Examples of these include advertising, logistics, and tourism. However, depending on the business line, some companies need to apply for sublicenses. Below we provide some insights into the key aspects of undertaking the business and expand its presence in Vietnam: Forms of Enterprises to Consider. You must have a business address to incorporate a company in Vietnam. You can submit documents to serve as proof of your address. Ready to register a company in Vietnam? Some partner up with a local nominee in order to proceed with their intended business plans. ... Vietnamese company means any enterprise that is established or registered under Vietnam’s law and has its headquarter located in Vietnam. VietnamCredit is the first company in Vietnam to provide information on companies and industries. This can take anywhere from a couple of weeks to several months. We do the company name screening in 200 countries, contact us. For example, you can verify whether or not your business … There are no minimum capital requirements in Vietnam for most business lines. Contact the Vietnam Department of Planning and Investment, the pertinent provincial tax department, and the Department of Public Security – to apply for a business registration certificate and company seal. All companies in Vietnam must have at least one resident director. On the other hand, a company must submit an incorporation certificate, articles of association, and a list of its directors. In such cases, foreign investors will need a Vietnamese joint venture partner. Is cracking down on nominee companies s a way to enter the Vietnamese market without incorporating a company in.! 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