Vietnam company registration and investment certificate
To set up in Vietnam, foreign investors must obtain an investment certificate/license and carry out a company registration process. Find the advice of our lawyers specialising in business law in Vietnam.
Vietnam investment certificate
To invest in Vietnam, the investment project must be validated in order to obtain an investment certificate/license, or IRC “investment registration certificate”. In some particular areas, approval in principle can be achieved initially by the National Assembly, the Prime Minister, the Ministry of Planning and Investment, relevant ministries or the People’s Committee of the province/city before continuing the formalities for obtaining an IRC.
Companies with 100% foreign capital and local companies in which over 51% of the capital is held by a foreign investor must obtain an investment certificate/license. However, the establishment of a branch or a representative office in Vietnam does not require obtaining an investment certificate: only the permission of the Vietnamese government (Ministry of Industry and Trade, department of industry and trade of provinces/cities) is necessary. To get it, investors should submit their application to the Vietnamese government.
Vietnam company registration
The 2014 Investment Act of Vietnam governs the registration of foreign companies. Once the investment project has been approved, the foreign investor must then proceed with the award of the ERC. The IRC shall be issued within 15 working days from the date of submission of a legitimate application file, while the ERC must be granted within 3 working days. In practice, however, obtaining the investment certificate/license in Vietnam can take more time.
A reform issued in 2015 helps to speed up the procedure for obtaining the investment certificate/license. The procedure has reduced the stages from 3 to 2: first submitting the application, then, if it is accepted by the competent authorities then they will issue the license. So the process takes less time than before.
Vietnamese-Attorney.com can advise you on how to obtain a Vietnam company registration and a business investment license. Ask online for a free no-obligation quote.