Establish an FDI company in trade, import-export sector in Vietnam

Hi DMS Attorneys in Vietnam! Is an FDI company allowed to import, export of goods in Vietnam ? Can you advise on legal procedures to set up a 100% foreign invested company in trade sector, buying, selling, import, export of goods ? 

Hi!

Investment Registration Certificate (IRC) in Vietnam:

Before setting up a company in Vietnam, foreign investors must have investment project and carry out procedures for issuance of Investment Registration Certificate (Clause 1 Article 22 Law on Investment No. 67/2014/QH13 dated November 26, 2014).

Application file for Investment Registration Certificate (IRC) in Vietnam shall comprise:

Written request for implementation of investment project; copy of ID card, or passport in the case investors being an individual, copy of Certificate of Incorporation or other equivalent papers certifying the legal status in the case of investors being an organization; Investment project proposal comprising the following contents: investors implementing the project, investment objectives, investment scale, investment capital and method of raising capital, location, duration, investment schedule, demand for labour, proposal for investment incentives, assessment of impact and socio-economic efficiency of the project; Copy of any one of the following documents: financial statements for the last two years of the investor; commitment of the parent company to provide financial support; commitment a financial institution(s) to provide financial support; guarantee for the financial capability of the investor; or a document proving the financial capability of the investor; Proposal about demand for land use; where the project does not require the State to allocate or lease out land or to permit conversion of the land use purpose, a copy of the site lease agreement or other document certifying that the investor has the right to use the site for implementation of the investment project shall be submitted; Explanatory statement on technology to be used in respect of the projects prescribed in Point b Clause 1 Article 32 of this Law, including the following items: name of technology, origin of technology, diagram of technological process; main technical specifications, condition of machinery, equipment and main technological line to be used; BCC contract in the case of investment projects in the form of a BCC contract (Clause 1 Article 33 Law on Investment No.  67/2014/QH13 dated November 26, 2014).

Business licence for foreign traders to conduct commercial activities in Vietnam:

Trading sector, purchase, sale, import and export of goods are conditional business lines for foreign investors in Vietnam. Therefore, to conduct commercial activities in Vietnam, foreign traders investing in Vietnam must meet business conditions and be issued Business licence by the competent state management agencies in Vietnam.

An application file for business licence for foreign traders shall comprise: An application form for business licence; Explanatory statement including the following items: Explaining on conditions for issuance of business licence corresponding to provisions in Article 9 this Decree; Business plan: Description of content, method to conduct business operation; showing business and market development plan, demand on labor; assessment of impact and socio-economic efficiency of the business plan; financial plan: Profit and Loss report according to audited financial statements of the most recent year, in case the company was established in Vietnam a year ago or more than a year ago; explaining on capital, sources of capital and method to raise capital, enclosed with financial documents; business status of purchase, sale activities and activities relating directly to purchase and sale of goods; financial status of the foreign invested organization up to the date of application for Business licence, in case of issuance of Business licencec stipulated in Clause 6 Article 5 of this  Decree (Clauses 1, 2 Article 12 Decree No. 09/2018/NĐ-CP  dated January 15, 2018).

Enterprise Registration Certificate (ERC) in Vietnam:

Application file for Enterprise Registration Certificate shall comprise: An application form for ERC; Articles of incorporation, List of members; copy of the following papers: ID card, passport or other lawful personal identification documents for members being an individual; Decision on establishment, Enterprise registration certificate or other equivalent documents for members being an organization, and authorization letter; ID card, passport or other lawful personal identification documents of the authorized representatives for member being an organization. For member being a foreign organization, the copy of Certificate of Incorporation or equivalent documents must be carried out consular legalization; Investment Registration Certificate for foreign investors shall comply to provisions of the Law on Investment (Article 22 Law on Enterprises No. 68/2014/QH13 dated November 26, 2014).

Consulting services:

Phone: 0914 165 703 or Email: dmslawfirm@gmail.com 

Set up FDI company in trading sector, purchase,sale, import, export of goods in Vietnam