Can foreigner own 100% business in Vietnam?

How to apply for the Investment Registration Certificate?

A dossier needed to apply for the Investment Registration Certificate includes:

A written request for permission for execution of the investment project;

A copy of the ID card or passport (if the investor is an individual); a copy of the Certificate of establishment or an equivalent paper that certifies the legal status of the investor (if the investor is an organization);

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An investment proposal that specifies: investor(s) in the project, investment objectives, investment scale, investment capital, method of capital rising, location and duration of investment, labor demand, requests for investment incentives, assessment of socio-economic effects of the project;

Copies of any of the following documents: financial statements of the last two years of the investor; commitment of the parent company to provide financial support; commitment of a financial institutions to provide financial support; guarantee for investor’s financial capacity; description of investor’s financial capacity;

Office lease agreement, documents proof of the lessor’s right (Certificate of land use right, construction permit, certificate of business registration with the function of real estate business of the lessor or equivalent documents);

Demand for land use; if the project does not use land allocated, leased out by the State, or is not permitted by the State to change land purposes, then a copy of the lease agreement or other documents certifying that the investor has the right to use the premises to execute the project shall be submitted;

Explanation for application of technologies to the project mentioned in the List of technologies restricted from transfer under the law on technology transfer, which specifies: names of technologies, origins, technology process diagram, primary specifications, conditions of machinery, equipment and primary technological line;

The business cooperation contract (if the project is executed under a business cooperation contract).

The procedure for applying for an Investment Registration Certificate

Step 1: Declare online information about investment projects on the National Foreign Investment Information System.

Step 2: Submit the application file for the Investment Registration Certificate to the Investment Registration Authority.

Step 3: After the application is received, the investor is provided with an online account to access the National Foreign Investment Information System to track the processing and results of the application. In case of obtaining a successful investment registration certificate, the investment registration agency will issue a code through this account to the investment project. In case the application is rejected, this agency must notify the investor in writing and explain the reason.

Duration of application: within 15 working days.

How to apply for the Business Registration Certificate?

After being granted the Investment Registration Certificate, you can start carrying out some procedures to set up the company.

A dossier needed to apply for the Business Registration Certificate includes:

An application form for business registration;

The company’s charter;

A list of members (for limited liability company) or stakeholders (for joint-stock company);

Certified copies of:

Copies of the ID card or other ID papers of members being individuals;

Decision on Establishment, Business Registration Certificate, or an equivalent document of the organization and the letter of authorization; the ID card or other ID papers of the authorized representatives of members being organizations. If a member is a foreign organization, the copy of the Certificate of Business registration or an equivalent document must be consularly legalized;

The Investment registration certificate of the foreign investors as prescribed by the Law on Investmen

Legal service provision contract (Authorization contract) to authorize Viet An Law Firm to perform the business establishment service.

The procedure for applying for a Business Registration Certificate

Step 1: Submit a dossier online through the National Business Registration Portal

Step 2: Submit the application dossier at the Business Registration Authority (Department of Planning and Investment)

Step 3: The business registration agency will issue a Business Registration Certificate if an application dossier is valid.

Duration of application: 03 – 05 working days.

Note: After being granted a Business Registration Certificate, you must make a public announcement on the National Business Registration Portal following the procedures prescribed in law within 30 days from the date of publication.

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