Procedures for establishment of foreign companies in Vietnam

To establish a foreign company in Vietnam, two major steps are required:

Step 1: Apply for Investment Certificate:

Investors shall carry out the procedures for granting the Investment Certificate at the investment registration bodies (Management boards of industrial zones, export processing zones, high-tech zones, economic zones and Division of Planning and Investment of provinces and cities directly under the Central Government).

The dossier must comprise:

- A written proposal for implementation of the investment project;

- Proposals for the investment project;

- A valid copy of the identify card or passport, for individual investors; a copy of the establishment decision or an equivalent document certifying the legal status, for institutional investors;

- One of the following documents: the investor’s financial statement of the last 2 years; financial support commitment of the parent company and of a financial institution; guarantee for the investor’s financial capacity; and document explaining the investor’s financial capacity;

- Proposals on land use; in case the investor does not propose the State to allocate or lease land or to permit change of land use purposes, the investor shall submit a copy of the site lease agreement or another document certifying that the investor has the rights to use the site used for project implementation;

- Explanations about use of technologies, for the projects (if any), covering: name and origin of technologies, diagrams of technological processes; primary technical specifications, conditions of main machinery, equipment and technological lines;

Other relevant documents.

Time limit for settlement: Issuing Investment Certificate within 15 working days from the date of receipt of valid a dossier.

Step 2: Apply for the Certificate of Business registration, a legal seal and inform the seal sample:

After being granted the investment certificate, the investor shall carry out the procedures of applying for Certificate of Business registration, a legal seal and informing the seal sample at the business registration office (Division of Planning and Investment of provinces and cities under the central Government).

The dossier must comprise:

- Application for establishment of an enterprise

- Company charter

- List of founding shareholders, list of shareholders being foreign investors (in the case of a shareholding company)

- List of members (in the case of a limited liability company with two or more members)

- List of authorized representatives (in the case where the enterprise has a member / shareholder is a legal entity)

- A valid copy of the identity card or passport for the individual member/ shareholder/owner of the company; Certificate of establishment or equivalent document confirming the legal status of the member/shareholder/owner of the company being an organization;

- Notification of the seal sample;

- Other relevant documents.

Time limit for settlement: 03 working days for granting business registration certificate and 04 working days for posting the seal and the seal being effective.