By the end of 2019, there have been more than 30,000 FDI
projects choosing Vietnam for investment, with a total registered capital of
about 362 billion USD. Recently, business propensity of Vietnam is highly
concentrated on the private sector, attracting foreign investors to the Vietnam
market.
As Vietnam has built
diplomatic relationship with nearly 190 countries around the world and signed
about 15 Free Trade Agreements with important trading partners, Vietnam’s
participation in various free trade agreements has created a strong impetus for
foreign investors from developed countries to set their first steps in the
Vietnam.
To be able to register a business in Vietnam, investors need to carry out procedures to apply for the
Investment Registration Certificate. After being granted the Investment Registration
Certificate, the investor shall then apply for Enterprise Registration
Certificate.
To carry out the process
of applying for the Enterprise Registration Certificate, firstly, the investors
need to choose a name for the business, which must not be identical or
confusing to the name of another business already registered in the National
Database of Business Registration on a national scale, except for businesses
that have been dissolved or have had effective court decisions declaring
businesses bankrupt.
After that, the
investors or the authorized person need to prepare a complete set of
application dossiers in accordance with the law and submit it at the Business
Registration Office where the head office is planned to be located. The
Business Registration Office will check the validity of the application
dossier, based on the appointment date on the Receipt, the investors or the
authorized person can go to the Business Registration Office to receive the
results of the application or Register to receive results by post. The time
limit for considering and handling the dossier is 03 working days from the date
of receiving the valid dossier.
The investor will be
granted an Enterprise Registration Certificate when fully meeting the following
conditions:
-The registered business
lines are not in the prohibited business sectors;
-The business’s name is
set in accordance with the provisions of law;
-Having a head office as
prescribed by law;
-Having a valid business
registration dossier as prescribed by law;
-Fully paying the
enterprise registration fee as prescribed by law
Over the years,
investors have built confidence in the Vietnam’s business and investment
environment. The socio-political and macroeconomic stability are prominent
features for the growth of Vietnam’s business potential. The Vietnam government
has determined to simplify the process for investment application. Hence,
Vietnam is and will continue to be an attractive investment location, a
promising destination for foreign investors for applying for investment
registration certificate and register a business in Vietnam compared with other
neighboring countries in the region.
ANT Lawyers – a law firm in Vietnam will
always follow up with authorities for legal update on matters relevant to
investment registration or business setting-up in Vietnam.
Source ANTLawyers: https://antlawyers.vn/library/procedures-to-register-business-in-vietnam.html
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