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SETTING UP A COMPANY IN VIET NAM

Foreign company in Vietnam is an enterprise established under Vietnamese law with the capital of foreign investors. Foreign investors can choose to establish a company with 100% foreign capital or a joint venture with a Vietnamese partner depending on the specific conditions of each industry.

Foreign investors who wish to open a company in Vietnam, will often face many difficulties, due to differences in legal regulations and languages. Understanding this, GLAW provides a package company formation service for foreign investors to do business in Vietnam, with reasonable cost and fast time.

Having 2 forms for foreign investors to invest in Vietnam according to the provisions of the current Investment Law:

II. In addition to the above service scope, GLAW can provide a full range of services if clients have needs, as follows:

• Leasing the company’s registered office;
• Searching and introduce production locations;
• Obtaining for the necessary permits as prescribed by law;
• Instructions to open a bank account and transfer money to invest, balance cash flow;
• Initial tax declaration dossier;
• Seal and signboard;
• Drafting charter and capital contribution dossier to ensure compliance with Law;
• Tax consulting services and tax accounting services.

Why you should choose services at GLAW:

• We have experience working for multi-industry, multi-national;
• We can communicate in your language;
• Reasonable cost, fast time;
• The client only provide information and sign the application for one time.

III. Notes on industry conditions applicable to the establishment of a company with foreigners:

3.1 In respect to enterprises operating in the field of manufacturing:

Enterprises with foreign capital have to implement projects in concentrated industrial parks. The list of industrial zones can be found here.

In addition, the enterprise must ensure that it has a fire safety system and an environmental plan (planning or reporting on environmental impact assessment) before going into operation.

3.2 In respect to enterprises operating in the field of service provision:

Apply according to the industry conditions that Vietnam commits in the WTO Schedule of Specific Commitments in Services. For industries that have not yet committed to the WTO Commitments, the specialized law of Vietnam and the approval of the management ministry shall apply.

Currently, the following industries are allowed to establish 100% foreign owned companies:

• Software services;
• Food and Beverage Service;
• Management consulting activities;
• Market research;
• And some other industries, please contact GLAW for more details.

Some industries require additional sub-licenses such as a certificate of food safety and hygiene for the food manufacturing and trading, restaurant, and beverage service industries.

3.3 In respect to enterprises operating in the field of export, import and distribution of goods:

– Exportation right means the right to purchase goods in Vietnam for export, including the right to have one’s name written in the export declaration in order to carry out, and take responsibility for, export-related procedures. The exportation right excludes the right to purchase goods from entities other than traders for export, unless otherwise provided for by Vietnamese law or treaties to which the Socialist Republic of Vietnam is a contracting party.

– Importation right means the right to import goods from foreign countries into Vietnam for sale to traders that have the right to distribute those goods in Vietnam; the importation right includes the right to have one’s name written in the import declaration in order to carry out, and take responsibility for, import-related procedures. The importation right excludes the right to establish, or participate in, a good distribution system in Vietnam, unless otherwise provided for by Vietnamese law or treaties to which the Socialist Republic of Vietnam is a contracting party.

– Distribution right means the right to directly conduct distribution activities.

– Wholesaling involves selling goods to wholesalers, retailers, other organizations and traders; excluding retailing.

Foreign-invested enterprises in Vietnam are not allowed to import, export or distribute goods that Vietnam prohibits from exporting, importing or distributing.

Foreign-invested enterprises are not allowed to exercise the distribution rights in Vietnam for the following items: cigarettes and cigars, books, newspapers and magazines, video items, precious metals and gems, pharmaceuticals, explosives, crude and processed oils, rice, cane and beet sugar.

When exercising their retail distribution rights in addition to an enterprise registration certificate (ERC) and an investment registration certificate (IRC), foreign-invested enterprises must apply for a business license.

In order to carry out retail activities with the establishment of a retail outlet, foreign-invested enterprises have to process the procedures for applying for setting up a retail outlet license at the time of establishment.

Notes:

If you would like any further information about our company incorporation services, please contact GLaw Vietnam via Hotline: 0945.929.727 or Email: info@glawvn.com

Related Posts:

– Quotation for full services establishment company;

– Quotation service for amendment of investment registration certificates;

– Quotation for full package Accounting services (Tax Reporting);

– Quotation service for change of enterprise registration certificate;

– Quotation service for setting up branches and representative offices;

– Quotation service for company’s dissolution;

– Quotation service for registration of logo and trademark protection.

Let start your Vietnam company formation now!

If you are planning to setting up a company in Vietnam, keep contact with us

Hotline: 0945.929.727 (Whatsapp/viber/zalo) or email: info@glawvn.com.