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| Vietnam Company Registration | |||||||
Because of its complex procedures, Vietnam company registration is difficult for foreign investors. Consequently, the majority of investors appoint a professional consulting Firm (with offices in Ho Chi Minh or Hanoi) to handle all company incorporation formalities on the ground in Vietnam. This Firm will also assist the investor open corporate and personal bank accounts, locate office premises for the new company, obtain work visas for expatriate staff and manage the company’s tax and accounting obligations. The following is an overview of the procedures related to Vietnam company registration:
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| 1. | The foreign investor applies for an Investment Certificate from the Ministry of Planning and Investment. A detailed business plan is submitted, highlighting the activities of the proposed company, its operational and marketing strategy, financial projections, and proposed staffing.
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| 2. | The proposed company name is checked at the Ministry of Planning and Investment, which issues a Business Registration Certificate.
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| 3. | The investor obtains a seal-making license from the Administrative Department for Social Order (ADSO), part of the Municipal Police Department. Without a seal, a company is not able to register with the tax department, open a bank account, or apply for operating facilities and services (e g, telephone, utilities) or rent an office premises. The seal must be made by a seal-making service recommended by the ADSO. The founder must submit the original seal-making application and license to the seal maker.
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The seal maker takes the finished seal to the ADSO, and the seal must be picked up at the ADSO, with the seal’s ADSO-issued certificate of registration.
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| 6. | Notice that the company has been registered must be published in a local newspaper, providing details such as company name and physical office address.
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The company applies for a tax code at the Municipal Taxation Department. To obtain approval for the accounting system, the required documents must be submitted: i) notarised copy of the Business Registration Certificate ii) a completed tax registration declaration form (supplied by the Tax Department) and the resume of the chief accountant of the company.
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| 8. | Within 30 days of Vietnam company registration, the company must register all employees and their qualifications with the Labor Office in the city/region in which the company is incorporated.
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| 9. | The company is required to register with the Social Insurance Fund all employees who have contracts for 3 months or longer.
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| 10. | The employer must register with the local trade union or industry trade union (as defined below) no later than 6 months from the date it starts operations.
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Contact Us |
For more information on Vietnam company registration, contact email@healyconsultants.com or call us in Singapore at (+65) 6735 0120. |
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