Contents
I. What industries do construction business services include?
According to the provisions of commitment No. 318/WTO/CK, construction services include:
– Construction of high-rise buildings (CPC 512)
– Construction of civil engineering works (CPC 513)
– Erection and installation work (CPC 514, 516)
– Completion work of high-rise buildings (CPC 517)
– Other construction works (CPC 511, 515, 518)
– According to the provisions of the WTO Commitment Schedule No. 318/WTO/CK for services, 100% foreign-owned enterprises will be able to do this service business. Foreign enterprises must be legal entities of a WTO member. In addition to the above regulations, investors need to consider specific industries to know exactly the binding conditions of specialized laws.
II. Conditions for establishing a construction company
Capital conditions:
According to Vietnam’s Schedule of Commitments in the WTO, construction activities do not limit the capital contribution ratio of foreign investors. Therefore, it is possible to establish a company with 1% – 100% foreign capital.
Except for industries requiring legal capital, the capital contributed by investors does not have a minimum level but must be consistent with the scale of operation of the registered company.
Conditions for investment form:
Foreign investors invest in construction services in the following forms:
– Establishment of economic organizations with 100% foreign investment capital;
– Establishment of joint venture economic organizations with foreign investment capital and Vietnamese investment capital.
– Forms of capital contribution, share purchase, capital contribution to Vietnamese economic organizations;
Conditions for business licenses according to specialized laws.
Foreign investors doing business in construction services, after being granted the Investment Registration Certificate and Business Registration Certificate, need to issue a Construction Operation Capacity Certificate for construction companies. Level III and above.
II. Conditions for establishing a construction company
Step 1: Please approve the investment policy
The application dossier for investment policy approval at each level is generally the same, including:
– Document requesting implementation of investment project.
– Documents proving the investor’s legal status.
– Documents proving the investor’s financial capacity.
– Investment project proposal includes the following main contents: investor, objectives, scale, investment capital and capital mobilization plan, labor needs, proposal for investment incentives, cooperation economic and social efficiency of the project.
– Other documents related to the investment project, conditions and capacity requirements of the investor according to the provisions of law (if any).
Step 2: Apply for Investment Registration Certificate
For construction projects that must be approved by competent authorities, after receiving the decision approving the investment policy, the enterprise will be issued an Investment Registration Certificate.
For construction projects that do not require approval decisions, investors must meet the following conditions:
– Investment projects do not belong to industries or professions that are banned from business investment.
– Have a location to implement the investment project.
– The investment project is in accordance with the planning according to the law.
– Meets the conditions of investment rate per land area and number of labor used (if any).
– Meet market access conditions for foreign investors.
Step 3: Establish a construction company with foreign capital
Documents to establish a construction company with foreign capital include:
Application for business registration.
Enterprise’s regulations.
Members list.
Notarized copy of ID card or passport of individual member; copy of the Business Registration Certificate of the member being an organization; Copy of identity card of the legal representative of that organization.
Authorization letter for the person to carry out procedures to open a real estate business company with foreign capital.
Investment registration certificate for foreign investors.
Step 4: Apply for a Construction Activity Capacity Certificate
Dossier to apply for a Certificate of capacity for construction activities includes:
Application for a certificate of competency.
Certified copy of the decision to establish the organization.
A certified copy of the practicing certificate accompanied by a declaration and self-identification of the certificate class or declaration of the practicing certificate code and training qualifications of the individual participating in the work.
Certified copy of the contract, acceptance record of completed construction of the work item, construction work or construction part (in case of specialized construction work) carried out according to the content. declaration content (for class I and class II construction organizations).
To save time on researching procedures, filling out forms, notarizing, and waiting to submit documents, you can contact HT for consultation and assistance with Procedures for establishing a construction company with foreign capital.
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