The answer is yes. As of 2018, foreigners are allowed to own businesses in Vietnam, with certain restrictions. Foreigners and foreign-owned businesses are subject to a number of regulations and fees, so it's important to understand them before you begin the business registration process.
The business registration process for starting a business in Vietnam as a foreigner is not overly complicated, but it does require knowledge of Vietnamese business laws and regulations. You’ll need to have a clear business plan and understand the different types of businesses you can register in Vietnam. You should also be familiar with the required documents and fees associated with business registration in Vietnam.
Finally, you’ll need to know the Vietnam business registration number format and how to check company registration in Vietnam. It is important to ensure that all business information is accurate, as mistakes can cause delays or even lead to business closure.
Establishing a presence in Vietnam provides foreign entities with numerous options for setting up their business, such as forming a Limited Liability Company (LLC) with one or more members, developing a Joint Stock Company, creating a Partnership, constituting a Branch Office, and/or opening Representative Offices. Additionally, investors can also contribute capital to existing local companies by purchasing shares/stakes in the organization.
The required documents depend on the type of business and whether it is owned by foreign investors. Generally, you will need the following documents when registering your business in Vietnam: enterprise registration application form; Company’s Charter; list of founding shareholders; list of shareholders that are foreign nationals; business registration or equivalent documents; certified copy of the granted investment registration certificate; and authorization letter for LHD Law Firm.
Prior to receiving the Investment Registration Certificate, investors are required to declare project-related information online via the National Foreign Investment Information System. Only one document is then submitted for review by the designated Investment Registration Authority.
Within 15 days of receiving a valid application, the Investment Registration Authority shall be issuing an investment registration certificate to the investor.
If an investor wishes to register a business, all they need is one document that can be submitted either in person or through the National Public Service Portal online. This simple process with Business Registration Authority will ensure their venture is up and running quickly.
The business registration authority will assess the validity of your submitted documents and decide whether to grant a Business Registration Certificate within three working days.
Prior to any venture into the realm of conditional investment, an investor must acquire a qualified business license. This is required in order for them to operate within this sector and make profits from their activities therein. Therefore, procuring such a license should be one of the first tasks undertaken by would-be investors before they start doing business.
Certain business activities such as retailing goods, logistics services, postal services, educational services, and e-commerce require obtaining a valid business license.
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