In accordance with the Law on Investment 2014, the forms of investment in Vietnam include:
- Investment in the establishment of business organizations
- Investment in the form of capital contribution, purchase of shares, capital contribution to economic organization
- Investments in the form of PPP contracts
- Investments in the form of BCC contracts
The establishment of foreign-invested companies is one of many forms interested by investors. There are two main types of vehicles for foreign investment in Vietnam, namely 100% foreign-owned enterprises and joint venture enterprises.
In this article, Naci Law refers to the process and dossiers to be prepared to carry out procedures for establishing foreign capital companies.
Establishment of foreign-invested tray manufacturing Company consists of the following steps:
Establishment of foreign capital companies takes the following 2 steps:
- Step 1: Register to establish a project
Duration: 10-15 working days
The investor submits a set of investment project documents to the investment registration authority.
Documents include:
- Written proposal to execute the investment project.
- A copy of the ID, identity card or passport for an individual investor; A copy of the certificate of establishment or other equivalent documents confirming the legal status of the investor as an organization;
- Proposals for investment projects include: the project execution of the investor, investment objectives, investment scale, investment capital and capital mobilization scheme, location, deadlines, progress of investment, labor demand, proposed investment incentives, impact assessment, socio-economic efficiency of the project;
- A copy of one of the following documents: financial statement within the last 02 years of the investor; Commitment to the financial support of the parent company; Commitment to financial support of financial institutions; Guarantee of investor’s financial capability; Documents proving the investor’s financial capability;
- Proposal for land use needs; in case the project does not recommend the state to land, lease land, allow to transfer land use purpose, submit a copy of the location lease agreement or other document confirming the investor has the right to use the venue to carry out the investment project;
- Explanation of the use of technology for the project specified in point B clause 1, article 32 of the Law on Investment contains the contents: Name of technology, the origin of technology, diagram of a technological process; Main technical parameters, conditions of use of machinery, equipment and main technological lines;
- BCC contract for investment project in the form of BCC contract
- Step 2: Register to establish a business
Duration: 5 working days
Established profiles are similar to conventional enterprises as defined in the Law on Enterprise 2014
Documents and records to be prepared by the foreign investor
In case the investor is a legal entity, documents need to be prepared as follows:
- Legal entity documents:
- Business Registration/decision-making
- Charter of Operations
- Passport of the Capital Management representative at the company in Vietnam
- Financial Capability Proof profile
- Financial statements of the investor’s nearest two years;
- confirm the balance of the investor’s bank
If the investor is an individual, the profile should be prepared as follows:
- Personal document:
Investor’s passport
- Financial Capability Proof Profile:
Certificate of Investor’s bank balance
Note: Documents granted at the state authorities of foreign countries must be consular legalization and translated into Vietnamese.
Documents for proving the location of the project, head office:
- Lease locations contract
- Registration of the landlord’s business
- Land use right Certificate
- Documentation for other explanations (if any)
Notes: the project location for the production companies must be a factory and must meet the environmental regulations, fire fighting and prevention; the rental party must be eligible for factory lease including real estate business functions and surplus workshop rental, shown on Certificate of Registration Business and Land Use Rights Certificate.
We have provided you with the information on the procedure of establishing a company producing foreign capital tray in Vietnam. Please feel free to contact us for further advice.
NACI LAW,
Hanoi Office: 6th Floor, office area 169 Nguyen Ngoc Vu, Cau Giay, Hanoi.
Ho Chi Minh Office: 4th Floor, Lot A No. 974, Truong Sa Street, Ward 12, District 3, Ho Chi Minh City, Vietnam.
South Korean lawyer: + 84. 904 537 525.
Vietnamese lawyer: + 84. 9789 38 505
Commitments of Naci Law when performing legal services for customers:
- Always comply with Vietnamese law and International law.
- Update, notify the progress of the stage to customers.
- Always look for ways to minimize risks and fully resolve them if they arise.
- Make a refund in case the job cannot be completed despite all our efforts.
