Step by step establishing foreign capital company in Vietnam

In order to set up a foreign capital company in Vietnam, foreign investors need an Investment Registration Certificate (IRC) and a Enterprise Registration Certificate (ERC). The order of establishing foreign-invested companies in Vietnam is specifically guided in the law on investment and enterprises.

>>Read more: Opening a capital account to invest in Vietnam

1. Step 1: Identify issues before establishing foreign capital company in Vietnam

Foreign investors rely on the amount of capital and investment purposes to identify specific issues: investment locations, corporate headquarters; Company name; investment sector and business lines; Investment capital …. This is important information to establish foreign capital company in Vietnam.

2. Step 2: Register for issuance of an Investment Registration Certificate (IRC)

An application for an Investment Registration Certificate (IRC) comprises:

– Written request for implementation of investment project;

– Proof of investor’s status

+ A valid copy of identity card, citizen identification or passport for investors being individuals;

+ Copy of Certificate of Establishment, Certificate of Business Registration or other equivalent documents certifying the legal status of institutional investors.

– The investment project proposal;

– Copies of documents proving the financial capacity of the investor:

+ Financial statements of the latest 2 years, commitment of financial support of the parent company;

+ Documents explaining the financial capacity of the investor;

+ Commitment to arrange foreign currencies by credit institutions for investors.

– Proposal of the demand for land use or a copy of the lease contract of the location for the execution of the investment project;

– Explanation on technology use for projects using technology on the List of technologies restricted from transferring;

– BCC contract with an investment project in the form of BCC (Business Cooperation Contract).

3. Step 3: Register for issuance of an Enterprise Registration Certificate (ERC)

After being granted the Investment Registration Certificate (IRC), the investor registers to establish foreign capital company at the Business Registration Office or the Management Board of industrial parks, when processing, and high-tech zones where the company is headquartered.

A dossier of registration for grant of an enterprise registration certificate (ERC) comprises:

– An application for enterprise registration, made according to a form issued by the Vietnamese Government;

– Company rules;

– List of founding shareholders for joint stock companies or members for limited liability companies;

– Certified copy

+ Identity card, citizen identity, valid passport for foreign investors being individuals;

+ Establishment decision or enterprise registration certificate, for institutional investors;

+ Investment registration certificate (IRC);

– Authorization document for individuals to apply (if any).

4. Step 4: Works performed after establishment of foreign capital company

Foreign capital company officially have legal status after being granted the Enterprise Registration Certificate (ERC). Foreign investors carry out the following works after post-establishment of the company:

– Opening a capital account at a bank, transferring investment money into Vietnam via a capital account;

– Buy electronic invoices, issue notices of invoices;

– Buy, register to use digital signatures;

– Declaration of license fees for newly established businesses;

– Engrave company seal, notice of using seal sample;

– Engrave company sign, hang the sign at the headquarters where the company registered operations.

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