1. Why choosing Vietnam to set up a business?
2022 is a year marking the recovery and development of Vietnam’s economy, the rapid development from large investment sources from abroad in various fields such as tourism, real estate, manufacturing, etc. post-covid import.
The Vietnamese government has issued many preferential and supportive policies for foreign businesses, so the establishment of businesses, branches and representative offices to expand the market and seek profits is an effective method.
2. General Conditions:
According to the provisions of the Investment Law 2020, foreigners are allowed to establish companies in Vietnam.
However, before establishing a company, foreign investors must meet the conditions on the percentage of charter capital, market access conditions, and industry conditions, along with investment projects and carry out investment registration procedures.
3. Types of enterprises that foreigners can establish:
- Limited liability company
- Joint Stock Company
- Representative office
4. Procedures for registration of business establishment
Step 1: Carry out procedures for issuance of investment registration certificates, unless the procedures for approval of investment policies are not carried out by the People’s Committee, the Prime Minister, or the National Assembly.
Step 2: Carry out the procedures for granting an enterprise registration certificate
Depending on the type of business that the investor wants to establish, the investor needs to prepare different documents for each type.
Foreign investors can refer to more articles about each type of business on HTLaw’s website to know more details.
Step 3: Submit the initial tax return.
Step 4: Engrave company seal and sign.
Step 5: Buy digital signatures, electronic invoices.
Step 6: Open a bank account, contribute capital.