The strong application of information technology to public service delivery in recent years has made it easier for businesses to reduce time, paperwork and transparency in costs. Therefore, Vietnam continues to be a safe, convenient and potential investment destination for many foreign investors.
For domestic investors, when establishing an economic organization, it is necessary to carry out procedures for applying for a business registration certificate in accordance with the provisions of the Enterprise Law 2020 and the Investment Law 2020 in Vietnam.
For foreign investors who want to directly invest in Vietnam, they must first have an investment project and carry out procedures for issuance of an Investment Registration Certificate. Then carry out procedures to apply for a Enterprise Registration Certificate to establish an economic organization or implement a project in accordance with the provisions of the Law on Investment 2020.
In this article, Van Luat, we will give our customers a clearer view of the establishment of businesses and investment activities in Vietnam by foreign investors.
Investment form: Direct or Indirect
Judgment level:
In case of implementing an investment project outside an industrial park, the investor shall carry out the procedures for applying for an Investment Registration Certificate at the Department of Planning and Investment.
In case of implementing an investment project in an industrial park, the investor shall carry out procedures for issuance of an Investment Registration Certificate at the Management Board of Industrial Parks.
Direct investment:
Step 1: Carry out procedures for issuance of Investment Registration Certificate (IRC)
Records include:
- Application letter for issuance of investment registration certificate
- A copy of notarized passport of the investor in case of the individual investor; copy of certified representative of the investor in case the investor is an organization
- Proposal letter for the investment project
- Documents of proving financial capacity in showing the ability to mobilize investment capital, contributed capital of the project:
- If the project does not request the State to allocate or lease land or permit the change of land use purpose, a copy of the paper on land use rights or another document certifying that the investor has the right to use the site shall be submitted. to carry out investment projects
- Explain the use of technology with projects subject to appraisal, collect opinions on technology in accordance with the law on technology transfer
- BCC contract for investment projects in the form of BCC contract.
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Step 2: Do business registration procedures (ERC)
Establishment of an enterprise in accordance with Vietnamese law
Processing time: 25 – 45 working days
Indirect investment:
Foreign investors contribute capital, buy and sell shares in Vietnamese enterprises
Processing time: 25 – 45 working days