Currently, with the process of Vietnam’s international economic integration, Vietnam always desires to create the best environment to attract foreign invested. The 2020 Investment Law with many innovations has somewhat created better conditions for all foreign investors when investing in Vietnam in the field of trade, especially wholesale distribution, retail distribution, and carrying out export and import rights.

Based on practical experience in registering many commercial investment projects for foreign-invested companies, Vilawco will provide the following practical documents and notes on documents for establishing a commercial company:

1. Documents to be prepared

1.1 Documents to be prepared by the investor (for establishing a foreign invested company)

• Legal capacity documents of the investor;
• Financial capability documents of the investor;
• Documents about the location to carry out the investment project;
• ID/CCCD/Passport of the legal representative of the intended company to be established;
• BCC contract for investment projects under the BCC contract form;
• Other documents related to the investment project, requirements on the conditions and capacity of the investor as prescribed by law (if any).

Notes when preparing: Regarding the investor’s legal documents:

• For individual investors, the required documents are: a certified copy of the passport along with a notarized translation.
• For corporate investors, the required documents are: a legalized Business Registration Certificate in the home country, along with the legal representative’s passport and notarized translations of the above documents. Regarding documents proving the investor’s financial capability:
• For individual investors: prepare a legalized Confirmation of Bank Balance in the home country, along with notarized translations.
• For corporate investors, they can choose one of the following documents: audited financial statements for the last two years; confirmation of the investor’s bank balance; commitment to financial support from the parent company; commitment to financial support from financial organizations; or a guarantee of the investor’s financial capability. These documents must be legalized by a consulate and accompanied by a translation, except for documents issued in Vietnam.

Regarding documents about the location to carry out the investor’s project, the investor needs to provide the following documents: a lease agreement for the location to carry out the project…

1.2 Components of the company’s legal dossier:

• Proposal for investment project implementation;
• Investment project proposal;
• Report/commitment to financial support from the parent company (if any);
• Proposal for enterprise establishment;
• Company charter;
• List of representatives of contributed capital (in case the investor is a legal entity);
• List of members/shareholders (in case multiple investors collaborate to establish the project);
• Authorization letter to submit application for Investment Registration Certificate and Business Registration Certificate.

2. The procedure for establishing a foreign invested company:

Step 1: Investors register and fill out the online dossier on the foreign investment portal.

Step 2: Investors submit the application for Investment Registration Certificate at the investment registration agency; Timeframe: Within 10 working days, the investment registration agency will issue the Investment Registration Certificate or request the investor to modify and supplement the dossier.

Step 3: Register for Business Registration Certificate at the Department of Business Registration where the company’s headquarters is located;

Timeframe: Within 3 working days, the Department of Business Registration will issue the Business Registration Certificate or request the investor to modify and supplement the dossier.

For detailed advice on this procedure, please contact Vilawco for assistance.

VILAWCO – Solid legal foundation, complete trust.

Address: 115 Street 1, Binh Hung Hoa A Ward, Binh Tan District, Ho Chi Minh City, Vietnam.

Hotline: 035.3699.332 – Ms. Thuy / 096.244.2073 – Mr. Tan.