The World Bank cited that Vietnam has transformed from being one of the world’s poorest countries into growing middle-income country over the past thirty years. 1.1. After forming conditions. business in Vietnam. Guide to Corporate Tax in Vietnam for Foreigners. Post-registration … Find the advice of our lawyers specialising in business law in Vietnam. Knowing Vietnam business culture can contribute greatly to the success of your doing business with Vietnamese partners. However, the Business Registration Agency has the right to accept or refuse such request. The business name is not the same as those of government organizations. In some cases, if the nature of business acitivity falls under the Negative List, some sub-licenses of business will be required. One-stop Company and Business Registration. Still uncertain about doing business in Vietnam? Opening a bank account for foreigners in Vietnam isn’t that hard. To set up in Vietnam, foreign investors must obtain an investment certificate/license and carry out a company registration process. Corporate Income Tax is calculated based on the income of the entity (i.e. A limited liability company in Vietnam is considered to be the most popular type of business entity in Vietnam. Enterprise registration certificate, also known as ERC, can be a soft copy or a hard copy file containing information of enterprise registration. CONTACT. Let’s explore key highlights of this culture! How to set up a company in Vietnam is a matter of concern to many foreign investors. Particularly, an enterprise registration certificate in Vietnam contains the following information: Your enterprise shall be granted a certificate of enterprise registration when meeting all of the conditions below: As for the application documents, they vary depending on the type of business to be registered. portalId: "1804570", "Business" Required to be Registered and Application for Business Registration. Home About PCB About us Business Registration Certificate Joint Stock Company. National Business Registration Information Portal; Agency for Business Registration; Business Registration Supporting Center; Business Registration Offices; Vision – Mission – Core values; Business Registration Reform; Public Services. However, if your business has any amount of foreign investment, you need to obtain an investment registration certificate before getting an enterprise registration certificate and your business, furthermore, needs to satisfy some other specific conditions. An investor must first engage in an investment project and prepare an application dossier (file) to apply for an Investment Certificate (IC), which is also considered to be the business registration for the enterprise. An investment authority can only issue an ERC to an enterprise when they fulfill the following requirements: The investment registration certificate with its acronym IRC is an e-document with the information of the registered investment project. Basis of Taxation . The business name does not contain words or symbols that go against Vietnam’s historical traditions, culture, morality and customs. 5. Authority (“SIRA”), which will issue them investment registration certificates (“IRC”). Then, the stamp need to be posted to National business registration portal to legalize your seal. Valid Business Registration Certificate. How to access company registry in Vietnam. A General Guide to Limited Liability Company In Vietnam. Cekindo Business InternationalShark building - 3rd & 8th Floor29 Nguyen Van Mai StreetWard 8, District 3Ho Chi Minh City 72408, Vietnam +84 28 3535 0019 vietnam@cekindo.com. Within 15 working days from the date of receipt of a complete and valid dossier, the competent authority shall grant the investment registration certificate for investors. Investment Registration Certificate and Enterprise Registration Certificate. Duration as indicated on the business registration certificate. This certificate can be seen as proof showing your business is officially formed in Vietnam with approval from the government. Get in touch by filling in the form below. » Cafe€redit » business registration certificate vietnam The most common ones are: The business name is not completely the same or confusingly identical to those of other enterprises. A Business Registration Certificate (“BRC”), often referred to as an Enterprise Registration Certificate … HANOI – Vietnam’s capital, Hanoi, has implemented a plan to reduce the time needed to obtain a Business Registration Certificate to within three days of receiving the application, instead of the previous 10 days.Although this change will only initially apply to Vietnamese enterprises, the definition of Vietnamese enterprises was changed recently to allow them to have foreign … The IC is the official license allowing foreign investors to carry out business activities in Vietnam. Vietnam virtual office is an emerging trend for business people investing in Vietnam in recent years. Guide to Hiring: Basic Terms of Employment Contract in Vietnam, Details on parties, obligation, working hours, wages (higher than minimum wage in Vietnam) and other benefits must be included in an employment contract in Vietnam. Specifically, according to Article 22 of the Law on Investment, other than satisfying some specific conditions regarding foreign enterprise formation in Vietnam, you must obtain an investment registration certificate before opening your business in this jurisdiction. Below are key highlights of this business structure! The registration records indicate that LLC’s are the most common type of companies to be incorporated. Address of the head office of the enterprise; telephone number, fax number, and email address; Charter capital (in case of an enterprise) or investment capital (in case of a sole proprietorship); Types of shares, value per share and the total number of shares by type which may be sold (in case of a joint-stock company); Full name, signature, permanent residence address, nationality, and personal identification document of a sole proprietor (in case of a sole proprietorship) or each partner (in case of a partnership); Full name, signature, permanent residence address, nationality, and personal identification document of the business’s law representative, in case of limited liability companies and joint-stock companies. These certificates are presented in Vietnamese. In this article, Cekindo will provide you with some legal insights into obtaining the certificates. For each procedure, a summary indicates what are the institutions involved, the expected results, the requirements and the legal justifications. Setup enterprise registration certificate vietnam “ERC” at LHD Law Firm, the Top Vietnam law firm with Location at Ha Noi, Ho Chi … © 2020 Cekindo Business International, Ltd. We use cookies to improve and customize your browsing experience. In addition, according to the 2019 Doing Business Report by the World Bank, the outlook for setting up a business in Vietnam is becoming better and better due to its improved investment transparency and other initiatives for unceasing development. The business registration authority that issues the Certificate of branch/representative office registration shall inform the business registration authority in charge of the administrative division where the enterprise’s headquarter is situated, send information about registration of the branch/representative office to the tax authority, statistics authority … First of all, you must obtain an investment registration certificate from the... #2 Business registration … Vietnam Foreign Contractor Tax: What Is It and How to Pay? 2019 by Cekindo / Last update on 2.12. Business Registration Certificates for 3 Years. Emerhub’s company registry in Vietnam is easily accessible, and it takes only one working day to receive the requested reports. Here is a complete guide for foreigners to open a bank account for both individual and enterprise. International investors are obliged to obtain an Investment Registration Certificate (“IRC”) from the municipal/provincial Department of Planning and Investment (“DPI”) in relevant provinces in Vietnam. The business registration agency shall examine the validity of the enterprise registration dossier and grant an enterprise registration certificate within 3 working days after receiving such dossier. Set up and manage your oversea company across the globe, Open corporate bank accounts in offshore financial centers and leading financial hubs in Asia, Fulfill annual reporting requirements with outsourced accounting and auditing activities, Start receiving online payments with a merchant account, Enhance your business image with a mailing address in prime locations, Make informed decisions with news and insights. The required documents vary according to the types of business to be registered. Hotline: +(84) 28 3931 22 66 A Go-To Guide To Joint Stock Company In Vietnam. From 2015, under the effect of the Law on Enterprises and new amended Law on Investment, foreigners when opening a company in Vietnam need to obtain both certificates separately. Foreign business entities doing business in Vietnam are subject to foreign contractor tax. According to Article 4 of the Law on Enterprises, an enterprise registration is a hard-copy or soft-copy document containing information about a company establishment issued by the government’s business registration agency (a part of the Vietnam’s Department of Planning and Investment). Certificate of Origin is stipulated in Decree No. Requirements for an Enterprise Registration Certificate in Vietnam, 1.3. Having the license guarantees the operation of the new company include: Certificate of base warranty, maintenance of cars Tax and other requirement. The business registration agency shall examine the validity of the enterprise registration dossier and grant an enterprise registration certificate within 3 working days after receiving such dossier. The Investment Registration Certificate is granted first since it is the prerequisite to obtain the Business Registration Certificate. Long ago, from 2005 to 2014 to be exact, you only needed to apply for an investment registration certificate when registering your company in Vietnam. 2020. For foreign companies investing in Vietnam for the first time, they must be surprised by the investment procedures as well as the licenses required to start operations. However, in case the application is not qualified, a notice will be sent to you under a written form which clearly states the reasons why your application is turned down and what you need to modify or add to your dossier. Per the Enterprise Law 2014, every enterprise must receive an enterprise registration certificate (“ERC”) prior to beginning operations, which will be issued by the provincial level State Business Registration Authority (“SBRA”). Business registration certificate or enterprise registration certificate. Searching of Company Information on Vietnamese National Business Registration Portal After addressing the National Business Registration Portal, Enter tax code / business code into the search … Posted 5.11. Vietnam’s numerous investment opportunities is nothing new to the world, especially for those aspiring entrepreneurs and investors looking to venture into Southeast Asia. Find the advice of our lawyers specialising in business law in Vietnam. Below is a useful guide to how to start a business in Vietnam as a foreigner. Overall, you (or an authorized person) need to submit a full application file to Vietnam's business registration agency. Vietnam business registration summary. District business registration office or Finance/Economic Division at the District level-if business is a household business; Validity of the License and application fee. It is not necessary for our clients to visit Vietnam to complete Vietnam company registration, … Below is a sample of an Investment Registration Certificate: Vietnam Virtual Office vs Co-Working Space: Which to choose? 19/2006/NĐ-CP providing detailed guidelines on the Law on Commerce on Origin of goods, Circular No. A foreign-owned Limited Liability Company (LLC) is the most common company structure for foreign-owned startups in Vietnam. Having registered investment licenses, business registration record automotive industry, components, automobile assembly, maintenance and repair of automobiles. If the registered capital on the business registration certificate or investment certificate is in a foreign currency, then the registered capital amount will be converted into Vietnamese Dong in … The business name and business registration number; The address of the business’s head office; Name, permanent residence address, nationality and legal identification document (identity card for example) of the enterprise’s law representative (in case of LLCs and JSCs); of the partnership’s members; and of the business owner of a sole proprietorship; Name, permanent residence address, nationality and legal identification document of each member who is a human individual; Name, head office’s address, business registration number of each member that is a body corporate of an LLC; Details on charter capital (in case of an enterprise) or investment capital (in case of a sole proprietorship). ERC is a hard-copy or soft-copy document containing enterprise registration information granted by a business registration agency to an enterprise. However, things have changed. In short, there are 2 essential business registration certificates in Vietnam that you must know: enterprise registration certificate and investment registration certificate. Making a company seal is one of most important steps when you set up business in Vietnam. For foreign companies investing in Vietnam for the first time, they must be surprised by the investment procedures as well as the licenses required to start operations. Investment registration and Enterprise registration certificate in Vietnam ; Investment registration and Enterprise registration certificate in Vietnam. With several specific sectors, after setting up the company, the company shall be also required to obtain sub-license for officially operating. Parent Category: About PCB >> About us 11 / 03 / 2015. Business Registration Certificate Joint Stock Company. This site is owned by BBCIncorp Limited - a Hong Kong based company with Registration number: 2508698 and D-U-N-S number: 664611652, 2019 © BBCIncorp Limited - Copyright All Rights Reserved, By using our website you consent to all cookies in accordance with our, 68 Circular road, #02-01 Singapore (049422), Singapore, 1. Business registration certificate or enterprise registration certificate. Our minimum rate is 4,000USD. (except cases of establishing SMEs being innovative start-ups or start-up investment funds in relation to the SMEs support program under Vietnam laws, effective from 2021). And, establishing an enterprise (an economic organization) is considered as an investment activity/project in Vietnam according to chapter IV of the Law on Investment. An investment project is a set of proposals on using medium or long-term capital to conduct investment activities in a specific geographical area within a specific period of time. Thus, it is very necessary for you to know in-depth what the differences between the two certificates are, when and how to apply for each type, so that you do not accidentally mess up your legal process of incorporation in Vietnam. Planning to open a company in Vietnam or looking for assistance with business registration certificates in Vietnam, the following are our list of startup services. Copy of a document proving the investor’s ability and financial capacity; Copy of a document showing the investor’s right to use the land used for carrying out the investment project; Business Corporation Contract if the investment project involves such contract. Applying for an investment registration certificate. Almost all businesses in Vietnam need to register for VAT. Overview of Enterprise Registration Certificate in Vietnam. Having the license guarantees the operation of the new company include: Certificate … An investor must first engage in an investment project and prepare an application dossier (file) to apply for an Investment Certificate (IC), which is also considered to be the business registration for the enterprise. We will handle the entire registration process and submit the dossier on your behalf so that you don’t have to think about this part of investing in Vietnam. Business registration certificate of the branch and representative office will be withdrawn in three circumstances: (i) contents in the dossier registering business of branch and the representative office is counterfeit, (ii) branch or representative office stop operating for a year without notification to Business Registration Agency; or (iii) upon the court’s decision or … 07/2006/TT-BTM guiding the procedures for issuance and management of the Certificate … Company registration in Vietnam has seen tremendous growth over the past few years. Especially, for businesses operating in the printing industry, one of the conditional business lines in Vietnam, it is important to know the procedures for investment registration, business registration … While some industries still require foreigners to form a joint venture with a Vietnamese, Vietnam has consistently liberalized its foreign investment regime and most industries now allow full ownership by foreigners; The most popular corporate vehicle to do business in Vietnam is the limited liability company. Business Registration Certificate Joint Stock Company. Vietnam Credit Information Joint Stock Company Headquarter: Room 1303B, Vietcombank Tower, 198 Tran Quang Khai Street, Hoan Kiem District, Hanoi. According to ‘Doing Business Report 2019’ article of the World Bank, the time-period for starting a business in Vietnam … Within this article, Sophie Dao, a lawyer at GBS, a business law firm in Vietnam provides an overview on the Company Registration Process and Documents Required for Company Registration in Vietnam. Start a business in Vietnam Sample of Enterprise Registration Certificate. Planning to open a company in Vietnam or looking for assistance with business registration certificates in Vietnam, the following are our list of startup services. Should you have any questions about any business registration certificate in Vietnam, please do not hesitate to contact us! When registering a foreign-owned company in Vietnam, you need an investment... #2 Business registration certificate. Investment Registration Certificate and Enterprise Registration Certificate. Then, the investment registration authority must issue the investment registration certificate to the investor within 15 business days upon the receipt of the valid application. BBCIncorp is always willing to help! Decree 1 affirms the business registration number of a company is also the company’s tax code, and furthermore, be the company’s number for units participating in the social insurance system; The … For investment projects that are subject to investment policy decision, once the investment authority has received the investment policy, they have to issue the investment registration certificate to an investors no more than 5 business days. Overview of Investment Registration Certificate in Vietnam. Setup enterprise registration certificate vietnam “ERC” at LHD Law Firm, the Top Vietnam law firm with Location at Ha Noi, Ho Chi Minh, Da Nang, Bac Ninh, Bac Giang, … ENTERPRISE REGISTRATION CERTIFICATE (ERC) DEFINITION. Also, please remember that the above papers are only standard documents. 2. When foreign investors own at least 51% of charter capital of the investment projects, the investment registration certificates become mandatory. Decree 1 affirms the business registration number of a company is also the company’s tax code, and furthermore, be the company’s number for units participating in the social insurance system The Decree sets out the language for licensing applications which was not regulated clearly in previous Decrees. If it is approved, the agency will grant you an enterprise registration certificate. 1.2. This article will guide key information about the legal procedure for starting your business! The IC is the official license allowing foreign investors to carry out business activities in Vietnam. Business International, Ltd. we use cookies to improve and customize your browsing experience will be sent to your shortly! 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