How to establish a joint stock company or limited liability?
Every
organization and individual wishing to set up a foreign owned company in Vietnam shall
need to meet some specifics conditions as promulgated under the Law on
Investment and Law on Enterprise. In specific areas being considered as
conditional investment, the investor shall also need to consult with the law
governing the area of investment. Once the investment registration certificate
is completed, the investor has the obligation to apply for enterprise
registration.
The
procedure to register for a certificate of enterprise registration of a joint
stock company or limited liability with two or more members are herein
mentioned:
Dossiers:
i) Application form for enterprise registration
ii) The company’s charter.
iii) A list of founding shareholders and shareholders being
foreign investors/ a list of capital contribution members.
iv) Valid copies of:
Copies of
the ID card or other ID papers of founding shareholders and foreign
investors/members being individuals; list of authorized representatives of
foreign shareholders being organizations.
Decision
on establishment, certificate of business registration, or an equivalent
document of the organization and the letter of authorization; the ID card or other
ID papers of the authorized representatives of founding shareholders and
foreign investors being organizations.
If
shareholders are foreign organizations, the copy of the certificate of business
registration or an equivalent document must be notarized, legalized and
authenticated.
The
Certificate of Investment registration of the foreign investors as prescribed
by the Law on Investment.
State Authority: Business
registration office of the province where the enterprise’s headquarters is
situated.
Period: within 03
working days from the full receipt of the dossiers
Result: Business registration
office shall issue the certificate of enterprise registration or if the
application is not satisfactory, business registration office shall inform the
applicant of necessary revisions and supplementation to company.
In
general, Vietnam government encourages foreign direct investment. If the
investor faces challenges at state authority, whom do not issue notification or
request of supplementation to the application for enterprise registration, the
investor cold lodge a complaint as prescribed by regulations of law on
complaints and denunciation to the state authority to protect its right
in doing business andinvestment in Vietnam. A law firm in
Vietnam with expertise in both business registration and dispute resolution
could assist the investor in the process.
The enterprise is entitled to do business from the issuance date
of the certificate of enterprise registration. For conditional business lines,
enterprises are entitled to engage in conditional business lines if they
satisfy all conditions and are capable to maintain fulfillment of such
conditions throughout their operation
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