According to the Vietnamese Law on investment, foreign investors want to do business in Vietnam are allowed to set up company, called economic organization, to do it through the company. Before establishing an economic organization, foreign investor need to conduct procedures to apply for an investment registration certificate. Foreign invested capital companies operating in Vietnam are controlled by State authorities mostly by its operation activities, called business lines. A legal document was promulgated in 2007 by the Ministry of Planning and Investment regulating and fixing National codes of business lines. Purpose of the business that foreign investor wants to launch in Vietnam shall be granted in the Investment registration certificate if they are suitable to the National codes of business lines and in accordance with the services lines committed by Vietnam Government allowing foreign investor to do in Vietnam.
EDCON is pleased to assist foreign investors in deciding
Form of Investment
- Foregin investor(s) (organization(s)/ individual(s)) is allowed to invest by 100% foreign investment capital of join by co-operation with local Vietnamese company or individual to set up a company doing business in Vietnam.
Steps of Procedures:
- Firstly, investor shall conduct procedure of Investment Registration Certificate to get approval of Vietnamese authority for foreign investment in Vietnam;
- Secondly, investors shall conduct procedure of Enterprise registration certificate of setting up the company based on and conformity with the Investment registration certificate;
- After completion of two steps above, the company shall invest to recruit, purchase, etc. to complete the operation facilities and come through third step (if tyour business activities are conditional as regulated by the laws of Vietnam. If not, you can put the company into operation right after the step 2 above).
- Thirdly, the company shall submit application dossier for operation license of the medical service unit. The Vietnamese relevant authority grant operation license if they found it compeleted after a condition check at the unit;
Conditions and timing to get licenses
- Investment registration certificate: Investors prepare papers including notarized passport/ ID card and paper indicating financial ability of each investor with assistance from EDCON. We shall complete registration dossier to submit to the licensing authority. Time to get license: 15 working days from the submission.
- Enterprise Registration certificate: Consultant shall prepare registration dossier to get the license. Time to get the license: 5 working days from the submission.
- Operation license (applied to conditional businesses): With legal assistance from EDCON , time to get the license is 30 days from the date of official submission.
Capital of investment
Generally, while minimum,muximum amount of investment are not regulated by the laws of Vietnam but it should be suitable with your business scale and activities, some conditional business activities required minimum capital of investment.
What EDCON would help you
- Advising on legal issues and procedures in relation to the Investment registration certificate and Enterprise registration certificate procedures;
- Drafting and preparing the Application Dossiers in both English and Vietnamese with the contents and format in conformity with the requirement of Vietnamese authorities for purpose of obtaining the Investment Registration Certificate and Business Registration Certificate. The application dossiers shall include:
- Application for Investment Registration Certificate;
- Registration for Business Registration Certificate;
- Members meeting minutes
- Decision of the Members board;
- Charter of the company to be set up in Vietnam
- Consulate Notarized copy of business license of foreign organization or passport in case of individual investment; (*)
- Financial report of the company(*) or bank statement in case of individual investment;
- Location leasing Agreement for the medical unit to be set up; (*)
- Papers proving ownership of the lessor indicating that he/she has the right to lease. (*)
- Explanation on the contents of the project to be invested;
- Power of Attorney in favor of Consultant;
- Other necessary document(s) as requested by the laws of Vietnam.
Papers and documents/information as noted by (*) shall be provided by Investor with assistance of Consultant.
Enterprise Development Consultancy Company Limited
- Submitting the application Dossiers to the competent authorities which would handle the Application and liaise with such authorities;
- Making any explanation and/or amendment, supplement to the Application Dossiers if required by competent authorities;
- Liaising with the competent authorities and following up with the process of appraisal of the Application Dossier from relevant authorities;
- Receiving Investment Registration Certificate and Business registration certificate for the company.
Address: Room 1002, Anh Minh building, No. 36 Hoang Cau Street, Dong Da district, Hanoi.
Tel: (84-4) 37710804
Fax: (84-4) 37710805
Website : www.edcon.vn