[Establishing a new company]

Hi,

I am travelling to Vietnam and visiting my Vietnamese friends. I and my friends are going to establish a new company specialized on restaurant, hotel fields at Ho Chi Minh City. I own 65% of the charter capital of the company and that of my two Vietnamese friends are 35%. Do we need to carry out the investment registration procedure to be granted an Investment Registration Certificate before registering a business establishment?

Please support me to understand more about Vietnamese law,

Thanks a lot,

Best Regards,

Free law advice solicited on a chat site should be treated with skepticism directly proportional to what you paid for said advice.

If you are truly going to do pursue a business in Vietnam complete with all of the pitfalls that come with such a venture please sit down with a local business lawyer who can more accurately answer these questions.

SteinNebraska :

Free law advice solicited on a chat site should be treated with skepticism directly proportional to what you paid for said advice.

Excellent advice in spirit but you need to rethink the structure.  The skepticism should rise as the price goes down (in this case to zero.)  Therefore is it not inversely proportional?   :unsure  :top:

This advice is free....
I got last year my business licence in 6 weeks.
For a usual "Co Ltd" in Vietnam, you get your business licence first, then you have a couple of months to transfer the capital (15,000 usd minimum).

You can consider New Changes in The Law On Enterprise 2014. Several new laws of paramount importance to investors.

Yes, if you're a foreigner, you will need to obtain an Investment Registration Certificate (together with your Vietnamese partners), as this will be a foreign-invested business venture.

before taking on any business venture in Vietnam, do your homework....then do it again and again.  it is very tricky here but can be rewarding.  get a trusted local who is "connected".  this will save you time and headaches.  pm me if you would like to talk further.

I would strongly suggest not messaging estate agents about this or, if you do, assume they're out to scam you so take extreme care to check their facts, especially if they offer any deals

"Hi you, i can answer your question following: In case the foreign investor contributes capital to Vietnamese people to establish a company (ie a joint venture between Vietnam and foreign investors), you should do the following:Step 1: Establish a Vietnamese company;
Step 2: Apply for a qualified license for conditional occupation;
Step 3: perform the transfer of charter capital (65%) to you;
Step 4: Apply for a business license (Procedure for granting a Business License applies only to companies operating in the field of implementing retail distribution rights).
For this option, the company has foreign investment, although you are a foreign investor, do not have to carry out the procedures for granting investment certificates. When an enterprise does not have an investment certificate, it will minimize procedures when there is a change in the content of business registration with the state agency. Special:Simple change procedure: When an enterprise only has a business registration certificate, it only needs to carry out other procedures when there are changes such as Vietnamese enterprises;
There is no obligation to report on the situation of project implementation, investment supervision reports, ...;
It is not necessary to carry out procedures to update investment information on the investment management system."

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