There are steps to opening the company in Viet Nam, as following:
Step 1: Choosing the lines of business. It is important to answer the question : you can set up 100% foreign owned company or need to cooperate with Vietnamese partner.
Step 2: Choosing the location where the company will operate.
Step 3: Choosing the appropriate forms of enterprise such as a limited liability company, joint stock company, Representative Office, Branch.
Step 4: Apply for Certificate of Investment Registration
investors submit the project to the Business Registration office of the province or city or the management board of an industrial zone, an export processing zone or a high-tech zone for the approval.
Step 5: Apply for the Certificate of Business Registration
After obtaining the investment registration certificate, the investor submit the application for enterprise registration certificate to the enterprise registration office within 3 days.
Regarding the conditional business lines, Investors must apply certificate of business qualification, practicing certificates, professional liability insurance, legal capital requirements, etc. before conducting business in Vietnam.
Step 6: Publish the content of the business registration
After being granted the certificate of enterprise registration, the investor shall disclose information about the enterprise on the national enterprise registration portal within 30 days, including the following information:
- Business lines;
- List of founding shareholders and shareholders being foreign investors for joint-stock companies.
Step 6: Registered business stamp and notice of the usage of stamp:
The enterprise has the right to decide on the form, quantity and contents of the stamp of the enterprise. After having stamp made, investors submit notices on use of stamp forms to the Investment registration agency.
Step 7: Open the Company's bank account:
There are two types of bank accounts that the investors need to open: (i) the investment capital account to receive the investment amount and (ii) the transaction account for conducting daily transactions in Vietnam.
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