Records should be prepared when establishing a foreign-invested company in Vietnam

BREAKDOWN QUOTATION

Ho Chi Minh City,March 26^th, 2019

Records should be prepared when establishing a foreign-invested company in Vietnam

Services to establish foreign invested companies

From August 1, 2017, there are 2 ways to establish a company with foreign capital in Vietnam

Option A:

Total establishment fee is only VND 15,000,000  (In Saigon)

Time to complete: 20 - 30 days

Processing documents: Establishing a company with 100% Vietnamese shareholders, then completely transferring the capital of Vietnamese shareholders to foreign invested

Advantages:

Completion time: from 20 to 30 days

Profile - procedures for establishing a business are simpler, just:

- ID cards of Vietnamese people (3 copies) - to set up a company with 100% Vietnamese capital.

- Copy of passport of foreign investor (2 copies) - To convert capital from Vietnamese shareholders to foreign shareholders.

Defect:

There must be Vietnamese in the name of the company at the beginning of the company.

The time / process / procedure for establishing a company with foreign capital is as follows

A - Conducting establishment of a company with 100% Vietnamese capital - a total of 5 days

Step 1: Prepare a dossier to set up a business according to the following information:

+ Company name:…………………….

+ Address of head office:……………………..

+ Industry: Hotel

+ Capital:…………………………..

 + 03 notarized ID card.

+ Office lease contract.

Step 2: Apply for establishment of a company to set up a planning and investment department.

+ Filing and paying the state fee

+ Post announcement of establishment

Step 3: Receive business license and round seal.

+ Get a business license.

+ Engrave legal circle and make notice of seal form.

Step 4: Initial tax file.

+ Set up the initial work file with the tax authorities.

+ Registration of digital signature equipment (used for tax declaration) for 12 months.

+ Company name table

+ Sign the director's name.

B- Converting capital from Vietnamese shareholders to foreign shareholders

Conversion time: From 15 to 20 days

OPTION B:

Total service fee: VND 40,000,000 (In Saigon)

Time: From 35 - 40 days

Plan: Making procedures to establish a foreign-invested company so that foreigners can get their name from the beginning in 2 steps.

Step 1: Investment registration (According to Vietnam's 2014 Investment Law applicable to foreigners investing in Vietnam) - 35 days of completion.

Application for investment certificate includes:

• Certified copy of passport of foreign investor.
• ID cards of Vietnamese people (if Vietnamese people contribute capital)
• Bank deeds of foreign investors.
• Contract location (rent house / office) to implement investment projects.
• Profile of capacity and experience of foreign investors.

Step 2: Register to establish a foreign invested enterprise - 5 days

Documents for establishment of foreign capital companies required:

• Copy of operation license of foreign investor.
• Power of attorney from foreign investors to the representative.
• Certified copy of passport of the Director of the company.
• Charter of companies with foreign capital.

Time to complete: 5 days

Note:

- Foreign documents must be consular legalized and translated into Vietnamese certified.

- For wholesale and retail sectors after being licensed by the Planning and Investment Department, they must register their business at the Department of Industry and Trade to operate.

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