Investment procedures in Vietnam

Establishing a company in Vietnam requires an investment certificate from the Planning and Investment Department or the provincial People's Committee in Vietnam.

This issue depends on the location of the company, the licensing company maybe the People's Committee of the province (for companies outside the processing and exporting industrial zones) or the exporting provinces and the Agency (for companies located in processing and export industrial zones). To make it clear that the procedures for establishing a foreign-invested company in Vietnam usually take a long time compared to other countries in the region.


The total time to set up a foreign invested company as stipulated in the Vietnam Investment Law in 2005 is only 20 - 45 days, the actual process may take a longer time so the agencies have The authority must consult other relevant agencies to evaluate the investment project.


Under Vietnamese law about investment, combined with a foreign invested company (hereinafter referred to as "Investor"), you are required to propose an initial investment project to obtain investment certificates.


The relevant licensing agencies organize the appraisal of the legality and feasibility of the investment project to determine the issuance of investment certificates on the following basis:

  1. Legal framework including Vietnam's WTO commitments, Vietnam Investment Law, Vietnam Enterprise Law, regulations applicable to specific industries as well as overall economic development plans city or province where FIC must register its headquarters.
  2. Your financial capacity and investment capital to include investment projects, facilities and human resources for the implementation of such investment projects in Vietnam.
  3. The investor's head office should be consistent with the city master plan.

 


Foreign investment consultancy


The roadmap for investor combination can be described in the following steps:


1. Prepare documents at the request of the licensing authority
Collect necessary information, documents, translate into Vietnamese (if the text is in another language) and prepare the application file in standard forms.


2. Submit the application file:
Proceeding to submit the application file to the competent authority within 02 working days after receiving the application with signature and seal. It will take about 45 days from operation to submit the application to the competent authority to the local licensing agency for issuance of an Investment Certificate. In some cases this process may be longer because it takes time to consult with relevant Ministries such as the Ministry of Industry and Trade, the Ministry of Planning and Investment and the Ministry of Finance, depending on the projects and requirements of investors.


3. Procedures for changing investment certificates:
Within 15 working days, we will complete the new licensing procedure such as publishing new companies in Paper News, taking seals and registering tax codes.

According to Luat Hong Duc