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Setting up a company (updating) / Foreign-invested company

Foreign-invested company in Vietnam (1/9/2018)

Conditions for setting up a foreign owned company in Vietnam

 Before establishing a foreign owned company, a foreign investor must have an investment project and shall carry out procedures to apply for an investment registration certificate and meet the following conditions: 

- Having a charter capital holding rate as prescribed by the law 
- Complying with the form of investment, scope of operation, Vietnamese partners in investment activities and meeting other conditions prescribed in treaties to which the Socialist Republic of Vietnam is a contracting party.

Investment project means a set of proposals on using medium- or long-term capital to conduct business investment activities in a specific geographical area within a specified period of time. Investment project may be either providing services or manufacturing or building...

Subject to scope of business, nature and scale of the project, following main procedures shall be carried out to set up and operate a foreign-invested company in Vietnam: 
- Obtain investment in-principle decision.
- Obtaining Investment Registration Certificate (IRC) and Enterprise Registration Certificate (ERC).
- Obtaining license or certificate under specialized laws or regulations.

Required documents for obtaining investment in-principle decision and Investment Registration Certificate (IRC) 
- A written proposal for implementation of the investment project
 
- A 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; 
 
- Proposals for the investment project, covering: the investor implementing the project, investment objectives and scope, investment capital and capital raising plan; the project’s location, duration, investment schedule and labor demand, investment incentives, and assessment of the project’s socio-economic impacts and benefits; 

- A copy of 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 covering: name and origin of technologies, diagrams of technological processes; primary technical specifications, conditions of main machinery, equipment and technological lines; 
 
- The BCC, for investment projects in the form of BCC.
 
Consular legalization and translation into Vietnamese are required for foreign documents.

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