How Vietnam Has Simplified Procedures to Register Business in Vietnam in 2023? | ANT Lawyers

 By the end of 2019, there have been more than 30,000 FDI projects choosing Vietnam for investment, with a total registered capital of about 362 billion USD. Recently, business propensity of Vietnam is highly concentrated on the private sector, attracting foreign investors to the Vietnam market.

As Vietnam has built diplomatic relationship with nearly 190 countries around the world and signed about 15 Free Trade Agreements with important trading partners, Vietnam’s participation in various free trade agreements has created a strong impetus for foreign investors from developed countries to set their first steps in the Vietnam.

To be able to register a business in Vietnam, investors need to carry out procedures to apply for the Investment Registration Certificate. After being granted the Investment Registration Certificate, the investor shall then apply for Enterprise Registration Certificate.

To carry out the process of applying for the Enterprise Registration Certificate, firstly, the investors need to choose a name for the business, which must not be identical or confusing to the name of another business already registered in the National Database of Business Registration on a national scale, except for businesses that have been dissolved or have had effective court decisions declaring businesses bankrupt.

After that, the investors or the authorized person need to prepare a complete set of application dossiers in accordance with the law and submit it at the Business Registration Office where the head office is planned to be located. The Business Registration Office will check the validity of the application dossier, based on the appointment date on the Receipt, the investors or the authorized person can go to the Business Registration Office to receive the results of the application or Register to receive results by post. The time limit for considering and handling the dossier is 03 working days from the date of receiving the valid dossier.

The investor will be granted an Enterprise Registration Certificate when fully meeting the following conditions:

-The registered business lines are not in the prohibited business sectors;

-The business’s name is set in accordance with the provisions of law;

-Having a head office as prescribed by law;

-Having a valid business registration dossier as prescribed by law;

-Fully paying the enterprise registration fee as prescribed by law

Over the years, investors have built confidence in the Vietnam’s business and investment environment. The socio-political and macroeconomic stability are prominent features for the growth of Vietnam’s business potential. The Vietnam government has determined to simplify the process for investment application. Hence, Vietnam is and will continue to be an attractive investment location, a promising destination for foreign investors for applying for investment registration certificate and register a business in Vietnam compared with other neighboring countries in the region.

ANT Lawyers – a law firm in Vietnam will always follow up with authorities for legal update on matters relevant to investment registration or business setting-up in Vietnam.

How Vietnam Support Start-up Company in Vietnam? | ANT Lawyers

   Start-up company is a topic that is receiving much attention in Vietnam, especially in the context of the country’s strong integration with the world economy. Starting a business is expected to create economic growth, make a positive contribution to socio-economic development. From start-up ideas gradually appears startup businesses in Vietnam. Every year, Vietnam has hundreds of new businesses established, in which the number of small and medium enterprises account for the majority. Because they are small and medium-sized enterprises, it is inevitable to face great competitive pressure from large traditional enterprises as well as competitors.

The identification of small and medium enterprises is the basis for the State to have supportive policies to help enterprises face competitive pressure in the market. Criteria to determine small and medium enterprises include: field of operation, average number of employees participating in social insurance per year, total revenue or total capital of the enterprise.

Firstly, micro-enterprise in the field of agriculture, forestry, aquaculture; industry and construction that has an average annual number of employees who participate in social insurance not exceeding 10 people and the total revenue in the year not exceeding 3 billion VND or the total capital of the year is not more than 3 billion VND. Micro enterprises in the field of commerce and services employing no more than 10 employees per year on average with social insurance contributions and total annual revenue is not more than 10 billion VND or the year’s total capital is not more than 3 billion VND.

Second, small enterprise in the field of agriculture, forestry, aquaculture; industry and construction that has an average annual number of employees who participate in social insurance not exceeding 100 people, total revenue in the year not exceeding 50 billion VND or total capital of the year not exceeding 20 billion VND, except micro-enterprises. Small enterprises in the field of commerce and service that have an average annual number of employees who participate in social insurance no more than 50 employees total revenue in the year is not more than 100 billion VND or total capital of the year is not more than 30 billion VND, except micro enterprises.

Third, medium enterprise in the field of agriculture, forestry, aquaculture; industry and construction that has an average annual number of employees who participate in social insurance not exceeding 200 people, total revenue in the year not exceeding 200 billion VND or total capital of the year not exceeding 100 billion VND but not micro-enterprises and small enterprises. Medium enterprises in the field of commerce and service that have an average annual number of employees who participate in social insurance no more than 100 employees, total revenue in the year is not more than 300 billion VND or total capital of the year is not more than 100 billion VND but not micro enterprises and small enterprises.

Because there are a large number of enterprises in the Vietnamese market, the State has introduced policies to support small and medium enterprises such as technology support, information support, consulting support, supporting human resource development, supporting small and medium enterprises to transform from household businesses, small and medium enterprises to innovative start-ups, small and medium enterprises joining industry clusters, value chains. Small and medium enterprises play an increasingly important role in the economic development of countries around the world. With the ability to create business opportunities and effective jobs, this business model is increasingly encouraged to develop and receive support from state agencies to expand and develop this business model in Vietnam.

Enterprise establishment service in Vietnam | ANT Lawyers

  ANT Lawyers provides enterprise establishment consulting service for domestic and foreign customers as the following services:

- To consult to establish Joint Stock Company;

- To consult to establish One member Limited liability company;

- To consult to establish Limited liability Company with Two or more members;

- To consult to establish Partnership company;

- To consult to establish Private enterprises;

- To consult to establish Sole trader;

- To consult to establish foreign invested company;

- To consult to establish the parent company, corporations.

Customers procedures established in the ANT Lawyers will enjoy some preferential services such as:

1. Contents of enterprise establishment consulting service:

- To consult legal regulation related to the establishment, operation and management of enterprises;

- To consult to set up personnel structure of the company;

- To consult to select types of enterprises;

- To consult to choose the name of company (lookup and select the appropriate name as the request of customers);

- To consult about the head office of the enterprise;

- To consult on capital, legal capital, investment capital;

- To consult on business lines (lines requires legal capital , professional certification or other conditions);

- To draft legal dossiers for setting up the company (Request for business registration, charter, founders list and other documents as prescribed by law);

- To consult for business on tax issues, financial obligations after the enterprise have been established and the process of production and business activities;

2. Our tasks in the enterprise establishment services:

ANTLawyers will on behalf of clients to perform the following tasks:

Drafting and preparation the enterprise establishment dossier as regulations;

- To apply the dossier for business and tax codes registration in the Department of Planning and Investment;

- To monitor progress and inform regularly results to clients;

- To obtain the Investment Certificate from the DPI;

- Filing and registration the seal for Company at the Police Department;

- To obtain the seal and the certificate of the seal for the Company at the Police Department;

- To guide the customers to follow procedures in the relevant state authority (as needed);

3. Documents required to provide by clients:

- Information requested form of business;

- A copy of ID / passport of members / founding shareholder who is individual (notarized);

- A copy of business registration / establishment decisions of members / founding shareholders who is organization.

4. Client’s benefits after establishment:

- To be consulted and offered free the activating annual tax dossier, records and procedures for billing the enterprise;

- To consult the necessary tasks of the new enterprise;

- To consult human resources management , provide free labor contracts and the forms of management personnel;

- To consult the procedures for salary scale registration, the social insurance registration of company;

- To consult on tax matters, tax refund, tax credit;