Procedures for registration for setting up a joint venture company in Vietnam

ASLAW

Procedures for registration for setting up a joint venture company in Vietnam

What is a joint venture?

In Vietnam, a joint venture company is a rather special form of business, and this form has been removed from the list of business types.

Currently, joint ventures are established in the form of limited liability companies, partnerships, and joint stock companies. The two Vietnamese and foreign partners are responsible for the committed capital to contribute to the common legal capital of the enterprise. The joint venture company has legal status under Vietnamese law and was established and operates from the date of the issuance of the Investment License.

The joint venture company was established from the beginning with the capital contribution of foreign investors and Vietnamese investors.

Procedures for registration for the establishment of a joint venture company

Foreign investors need to prepare the following documents:

– Certificate of business registration in Vietnam;

– Company policies;

– Audited financial statements for the latest financial year;

– Bank confirmation related to the account balance equivalent to the amount of capital contributed to the company to be established in Vietnam;

– Decide on investment to establish the company in Vietnam and appoint a representative to manage such contributed capital in Vietnam;

– Identity papers of the legal representative (in the case of being appointed as the Director of the Company) or in the case of the representative managing the contributed capital.

Note: Documents issued by foreign agencies need to be notarized and consular legalized at the Vietnamese Embassy in that country before being used in Vietnam.

Vietnamese investors need to prepare the following documents:

– Certificate of business registration;

– Company rules;

– Bank confirmation related to the account balance equivalent to the amount of capital contributed to the company to be established in Vietnam;

– Meeting minutes, company decisions relating to capital contribution to establish the company in Vietnam and appoint a representative to manage such contributed capital in Vietnam;

– Passport/identity card of the legal representative (in the case of being appointed as the Director of the Company) or in the case of the representative managing the contributed capital.

Other documents:

In addition to the above documents, the application for an investment registration certificate when establishing a joint venture company will include:

– A written request for an investment certificate prescribed by a competent authority; (According to the prescribed form);

– A list of members of the company, enclosed with copies of personal identification papers and authorized representatives at law;

– A notarized copy that has been translated and consularly legalized of the foreign enterprise that wants to invest in a joint venture;

– The charter of the joint venture company;

– A document determining legal capital, a copy of the practicing certificate of the head of the company in accordance with the law in the case of the establishment of a company with the above conditions;

– Contract for leasing the location of the company’s head office;

– A certified true copy of the certificate of land use right for the leased place (for the ground house) or the document proving the business address with the office business function (with the address being a storey building)

An investment certificate is required if this is the first time a foreign enterprise invests in a joint venture in Vietnam.

Step 2: Fill out and submit the application

After the application is fully prepared, the company founder submits the application at:

– One-stop section of the provincial/municipal Planning and Investment Department, or;

– Secretariat office or other departments according to specific regulations of each locality if some agencies do not have a one-stop shop.

Step 3: Competent authorities receive the application

The competent authority will receive the application for registration and check its validity. If the application is satisfactory and meets the requirements for business registration, the People’s Committee of the city/Director of the management board of the industrial park will approve it. If they are not eligible, they will be notified to amend the profile.

Step 4: The investor receives the result of the application process at the One-Stop Department.

Register now Contact us for a consultation
CONTACT ASLAW FOR ADVICE

Contact

  • ASLAW
  • 0928273286
  • 0928273286

    View more posts
    Instructions for registering a business online

    Instructions for registering a business online

    Business registration is a complicated process that requires applicants to go to the Business Registration Office as well as other departments many times to submit, receive and process documents. However, in order to reduce the burden on registrants, the Vietnamese […]

    Business registration consulting

    Business registration consulting

    The business registration involves many complicated procedures that can be hard to complete alone. Thereby, customers should consider using ASLAW’s dedicated and professional business registration consulting service. Consulting service for business registration When using ASLAW’s business registration consulting service, customers […]

    Business establishment service company

    Business establishment service company

    ASLAW is a professional and reputable business establishment service company in Vietnam market. Using ASLAW’s business establishment service, customers will certainly not regret because ASLAW is a leading business establishment service company in Vietnam that can provide customers with many […]

    CONTACT ASLAW