How to establish a new law company in Vietnam

These are issues which are need to be considered and prepared before establishing company in Vietnam

  • Choose the type of business entity. According to the Law on Enterprises, there are five common types of business entities at present: business cooperation contract, joint stock company, partnership company, limited liability companies (multi – member limited liability companies and single-member limited liability company), public – private partnership. This decision plays an important role in making or breaking your business ideas in practice.
  • Therefore, try consulting experts before you make decision. The number of members (shareholders) varies according to the kind of business. Based on that number, company owners prepare notarized copies of IDs or visas. 
  • Choose a name for your company. The name should be short, easy to remember and pronounce. It is not allowed to resemble other companies’ names which are available. Learn more information about available companies’ names at “National business registration portal” (dangkykinhdoanh.gov.vn).
  • In addition to type of business entity and company name, there are also other issues needed to prepare carefully are choosing a place for your headquarter, determining authorized capital for your business, selecting a title for company’s representative in law and choosing a legal industry to register.
how-to-establish-a-new-law-company-in VIetnam

After having prepared all the information needed to set up your company in Vietnam, you can initiate to compile documents as following:

  • A document to apply for investment registration certificate
  • Written request for issuing Certificate of Investment
  • Certification of legal status of the founding shareholders:
  • For the founding shareholder as legal personality: legalized copy (not more than 3 months from submission of document) of Establishment Decision, Certificate of Business Registration or other equivalent documents, Articles of Association or others equally. The documents in foreign languages must be translated into Vietnamese and certified by the company specialized in translation.
  • For the founding members as individuals: the legalized copy (not more than 3 months from submission of document) of documents: identification card, passport or any evidences of the individual’s valid legal status.
  • Investment project proposals include the following contents: investor implementing the project, investment objectives, investment scale, investment capital and capital mobilization plan, location, time limit and investment progress, demand for labor, proposals for investment incentives, impact assessment, socio-economic efficiency of the project
  • Copies of one of the following documents: Financial statements of the latest 02 years of the investor; Commitment to financial support of parent company; Commitment to financial support of the financial institution; guarantee the financial capacity of investors; Documents explaining the financial capacity of investors.
  • Proposal for land use; In case the project does not request the State to allocate or lease land or to permit the change of land use purpose, a copy of the lease agreement or other documents confirming the right of use of the land shall be submitted. current investment project
  • Explanation on the use of technology for investment projects, for projects using technologies on the list of technologies restricted from transfer according to the provisions of law on technology transfer, covering the following contents: origin of technology, process flow chart; Main specifications, use status of machinery, equipment and main technological lines
    BCC contract for investment projects in the form of BCC contract.

 

If you have any inquiries or would like to request for further information, please contact us by calling or sending us an email. We will attend to your request as soon as possible : V Lawyer – Law firm in Vietnam

 

 

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