Foreign investment procedures in Vietnam

Foreign investment in Vietnam has never been as interested and focused by the government as it is now, before the changing world situation, especially due to the influence of the current Covid 19 epidemic, countries in Europe and America. severely affected. It is also an opportunity for Vietnam to rise to take advantage of the opportunity to attract investors to Vietnam.

If you want to invest in Vietnam want advice, please contact luatvn.vn Hotline/Zalo: 0763387788 for a free consultation.

The prolonged US-China trade war plus the Covid 19 translation is the impact that changes the investment wave of investors around the globe, China was previously considered the factory of the World in For a long time, now, under the pressure of the US-China trade war, companies and corporations are withdrawing their factories from China to invest in other countries.

This is a good opportunity for Vietnam to catch up and catch up with the shifting wave The Prime Minister has decided to set up a special Task Force to welcome the investment wave of the world.

With the determination of all levels, from central to local levels, who are making efforts to catch the wave of investment in new projects, this will be a new opportunity for all localities to attract projects to create jobs. jobs for workers and promote economic growth for the locality and the economy in general.

With the desire to contribute to the development of the economy, the State has proactively introduced foreign investment orders and procedures in Vietnam. Foreign investors invest in Vietnam in order to take advantage of low-cost human resources, science and technology and find many profits as well as reputable partners. So, we would like to share what we need to know when investing in Vietnam.

Conditions to obtain a license for foreign investment in Vietnam
– Foreign investor means an individual with a foreign nationality or an organization established under foreign law that conducts business investment activities in Vietnam.

– Investing in sectors that are not on the list of industries and occupations banned from business investment such as: Trading in drugs; Trading in chemicals, minerals; Trading in specimens of wild plants and animals;

Prostitution business; Buying and selling people, human tissues, organs; Business activities related to human cloning; Trading in firecrackers.

– If the investment project belongs to special fields such as: Projects of foreign investors in the fields of shipping business, telecommunication services with network infrastructure, afforestation, publishing. press, the establishment of science and technology organizations, science and technology enterprises with 100% foreign capital shall fall under the deciding competence of the Prime Minister.

– Foreign investors or foreign-invested economic organizations or foreign investors and foreign investors holding 51% of the charter capital or more, except for the following cases:

+ Ownership ratio of foreign investors in listed companies, public companies, securities trading organizations and securities investment funds.

+ The ownership ratio of foreign investors in the equitized state-owned enterprises or converted to other forms.

+ Ownership ratio of related foreign investors and international treaties to which Vietnam is a member.

– Foreign investors may contribute capital to economic organizations in the following forms:
+ Purchase of shares in the first issue or additional shares of a joint stock company;
+ Capital contribution to limited liability companies, partnerships;
+ Contributing capital to economic organizations

– Foreign investors buy shares or capital contributions of business organizations according to:

the following forms:

+ Purchase of shares in a joint stock company from the company or its shareholders
+ Buying capital contributions from members of limited liability companies to become members of limited liability companies;
+ Purchase of equity interests of capital contributors in a partnership to become a capital contributor of the partnership;
+ Buying stakes from members of other economic organizations

If a foreign investor investing in Vietnam has complied with the above conditions, it is necessary to fully implement the following order and procedures to limit the cases in which it takes a long time to affect the work on the Post Certificate. Investment registration includes: Documents that need to prepare 1 set of documents include: – Proposal for investment project implementation; – Copy of ID card, ID card or passport for individual investor or a copy of Certificate of Establishment or other equivalent document confirming the legal status of the investor being an organization. ; – Investment project proposal includes the following contents: investor implementing the project, investment objectives, investment scale, investment capital and capital raising plan, location, duration, investment schedule investment, labor demand, proposal for investment incentives, assessment of the project’s socio-economic impact and efficiency; – Copy of investor’s financial statements for the last 2 years – Proposing land use requirements for the project to which the State allocates land or gives lease land, allow change of land use purpose; – Explanation for the use of technology for a project with the following contents: name of the technology, the origin of the technology, and diagram of the technological process;

The order of execution:

– Step 1: Investor submits documents to the Department of Planning and Investment.

– Step 2: Within 15 days from the date of receipt of a valid application, the Department of Planning and Investment shall issue the Investment Registration Certificate to the investor.

After receiving the Investment Registration Certificate, if the foreign investor wants to establish an enterprise with investment capital in Vietnam, the foreign investor needs to perform the following additional tasks:

Enterprise registration dossiers for partnerships

– Application form for business registration.

– Company rules.

– Members list.

– Copy of Citizen card, ID card, Passport or other legal personal identification of the members.

– Copy of Investment Registration Certificate for foreign investors

Application for registration of a limited liability company

– Application form for business registration.

– Company rules.
– Members list.

– Copies of the following documents:

+ Citizen card, ID card, Passport or other legal personal identification of members who are individuals;

+ Establishment decision, business registration certificate or other equivalent documents of the organization and authorization documents; Citizen card, ID card, passport or other legal personal identification of the authorized representative of an organization member. If the member is a foreign organization, the copy of the Certificate of Business registration or an equivalent document must be consularly legalized; Certificate of investment registration for foreign investors.

Enterprise registration dossiers for joint stock companies

– Application form for business registration.

– Company rules.

– List of founding shareholders and shareholders being foreign investors.

– Copies of the following documents:

+ Citizen card, ID card, passport or other legal personal identification of founding shareholders and foreign investors being individuals;

+ Establishment decision, business registration certificate or other equivalent documents of the organization and authorization documents; Citizen card, ID card, passport or other legal personal identification of the authorized representative of the founding shareholder and foreign investor being an organization.
+ For shareholders who are foreign organizations, the copy of the Certificate of Business registration or an equivalent document must be consularly legalized; – Certificate of investment registration for foreign investors Procedures for enterprise registration – foreign investment procedures – The enterprise founder or authorized person sends the enterprise registration dossier to the business registration office of the province / city where the enterprise is located. – The business registration office of the province / city where the enterprise is headquartered is responsible for examining the validity of the application for business registration and issuing the Business Registration Certificate within 03 working days from date of receipt. – In case of refusal to issue an enterprise registration certificate, the Business Registration Office of the province / city where the enterprise is located must notify in writing the enterprise founder. The notice must clearly state the reason and requirements for the amendment and supplementation of the dossier. References: 1. Law on Investment 2014 2. Law on Enterprises 2014 3. Decree 118/2015 / ND-CP guiding the Law on Investment