PROCEDURES FOR ESTABLISHING A FOREIGN-INVESTED VALUATION SERVICE COMPANY

Step 1. Apply for an Investment Registration Certificate

Subjects subject to application for an Investment Registration Certificate:

+ Investment projects of foreign investors;

+ Investment economic organizations establish economic organizations; investment in capital contribution, purchase of shares, capital contribution of economic organizations;

The dossier includes:

1. A written request for implementation of an investment project;
2. For individual investors: A valid copy of identity card, identity card or passport;
3. For institutional investors: A valid copy of the Certificate of Incorporation or other equivalent document confirming legal status;
4. An investment project proposal includes the following contents: investors implementing the project, investment objectives, investment scale, investment capital and capital mobilization plan, location, duration, investment progress, labor demand, proposal for investment incentives, impact assessment, socio-economic efficiency of the project;
5. A copy of one of the following documents: Financial statements of the last 02 years of the investor; Commitment of financial support of the parent company; Commitment to financial support of the financial institution; Guarantee on the financial capacity of the investor; Documents explaining the financial capacity of the investor;
6. Proposing land use needs; in case the project does not request the State to allocate land, lease land, permit change of land use purpose, submit a copy of the site lease agreement or other document certifying that the investor has the right to use the location for the implementation of the investment project;
7. Explanation on the use of technology applied to the project, for projects using technologies on the list of technologies restricted from transferring.

Competence to grant investment certificates: Department of Planning and Investment

Step 2. Apply for a Business Registration Certificate

If a foreign investor jointly contributes capital with Vietnamese to establish a company, the procedures are as follows:

Documents to prepare:

1. Application for business registration;
2. The company’s charter;
3. List of members of a limited liability company or a list of shareholders of a joint-stock company;
4. A valid copy of one of the attestation documents:
5. Valid ID card or valid passport for individuals;
6. Certificate of business registration for the organization and enclosed with personal identification papers, authorization documents of the authorized representative of the organization;
7. Decide on capital contribution for company members, company shareholders being organizations;
8. Power of attorney for company establishment services for Viet An Law.

Place of application: Department of Planning and Investment where the company is headquartered.

Step 3. Apply for a Certificate of eligibility for provision of price appraisal services

According to the provisions of Clause 2, Article 38 of the Law on Price, a price appraisal enterprise must be granted a Certificate of eligibility for provision of price appraisal services by the Ministry of Finance to come into operation.

Conditions for issuance of the Certificate of eligibility for provision of valuation services by a foreign-invested valuation company in Vietnam:

• Having a Business Registration Certificate, Enterprise Registration Certificate or Investment Certificate as prescribed by law;
• There are at least 03 price appraisers registered to practice at the enterprise, of which at least 02 capital contributors/founding shareholders;
• The legal representative, director or general director of a two-member limited liability company/joint-stock company must be a price appraiser registered to practice at the enterprise;
• Ensure the above-mentioned capital contribution ratio.

A dossier of application for a Certificate of eligibility for provision of price appraisal services includes:

• Application for the Certificate of eligibility for provision of price appraisal services according to the form in Appendix 2 – Circular 38/2014/TT-BTC;
• Certified copy of the business registration certificate, enterprise registration certificate of the enterprise;
• The price appraisal practice registration certificate of the appraisers registered to practice valuation at the enterprise is certified by the enterprise; Certificate of fostering professional knowledge of price appraisal for practicing price appraisers (if any);
• Copies of labor contracts or appendices to labor contracts (if any) of price appraisers practicing at enterprises;
• Documents proving the level of capital contribution of members being organizations, for limited liability companies with two or more members and joint-stock companies;
• Receipt of payment of prescribed fees;
• A certified copy of the written appointment of the position for the legal representative of the enterprise, the authorization document in the field of price appraisal (if any).

Place of application: Ministry of Finance.