PROCEDURE FOR THE ESTABLISHMENT OF 100%0 FDI ENTERPRISE IN VIETNAM
Realize that Vietnam is an attractive and potential market, the foreign investors have been continually pouring capital into Vietnam as a way to get closer to the huge profits that can be made in the market. One of the investment ways of the foreign investors is establishing 100% FDI enterprise in Vietnam. This article will provide legal provisions on the establishment of enterprise with 100% FDI.
1. Legal grounds
2. Details
To establish 100% FDI enterprise in Vietnam, foreign investors shall have to perform procedures for requirement of the Certificate of Investment Registration at a competent agency and then proceeding to the procedure for establishing the enterprise.
2.1 Issuance of the Certificate of Investment Registration Dossier
i. A written request for permission for investment project execution;
ii. If investor is an individual: a copy of ID card or passport;
iii. If investor is an organization: a copy of the Certificate of establishment or equivalent paper which can certify the legal status;
iv. Investment proposal, which specifies: investor(s) in the project, investment objectives, investment scale, investment capital, method of capital rising, location and duration of investment, labor demand, request for investment incentives, assessment of socio-economic effects of the project (Form I.3);
v. Copies of any of the following documents;
+ Financial statement of the last two years of the investor;
+ Financial support commitment of the parent company;
+ Financial support commitment of a financial institution;
+ Guarantee for investor’s financial capacity;
+ Description of investor’s financial capacity;
vi.Demand for land use: if the project does not use land allocated or leased out or permitted to change land purposes by the State, a copy of the lease agreement or other documents certifying the investor has the right to use that location to execute the project
i. 15 working days from the day on which online dossier submitted. The investors submit the application;
ii. 10 working days from the day on which a valid dossier is received.
2.2 Procedure for the establishment of 100% FDI enterprise Dossier
i. An application form for business registration
ii. The charter of company
iii. The list of members
iv. Copies of:
+ ID card, passport or equivalent papers of members being individuals
+ Decision on establishment, the Certificate of Business Registration or equivalent documents and the letter of authorization; the ID card or other papers of the authorized representative of members being organizations
+ For members being foreign organizations: copies of the Certificate of Business Registration or equivalent documents shall have to be consular legalized
+ The Certificate of Investment Registration of foreign investors as prescribed by the Law on Investment
