Dear our valued customer!
First of all, Hong Bang Law Firm would like to send greetings and best wishes to your business.
At your request regarding Establishment of a 100% Foreign Invested Enterprise, we would like to provide legal advice as follows:
I. Legal basis
- Law on Enterprise No.59/2020/QH14;
- Decree 01/2021/NĐ-CP Decree on Enterprise Registration;
- Law on Investment No.61/2020/QH14;
- Decree 31/2021/NĐ-CP Decree on Elaboration of some articles of the law on investment;
- WTO Schedule of Specific Commitments in Services
II. Procedures, implementation time and dossiers for establishment of a foreign- invested company
The procedures for foreign investors to establish a foreign invested enterprise in Hanoi include two major steps as follows:
- Step 1: Applying for an Investment Registration Certificate
- Working time: 20- 25 working days from the date of receiving complete and valid dossiers.
- State agency: Hanoi Department of Planing and Invesment
- Dossier includes:
+ An investment registration form;
+ Proposing investment projects;
+ Explanation of financial capacity;
+ Office lease contract;
+ Decision on appointment of Legal Representative;
+ Decision on appointment of manager of contributed capital.
+ Investment power of attorney;
+ Other relevant documents.
- Step 2: Applying for an Enterprise Registration Certificate
- Working time: 05 – 07 working day from the date of receiving complete and valid dossiers.
- State agency: Hanoi Department of Planing and Invesment
- Dossier includes:
+ An enterprise establishment form;
+ Company charter;
+ Power of Attorney;
+ Passport of legal representative.
In conclusion, the establishment of a foreign invested company in Hanoi is expected to take about 20 working days according to the working schedule of State Agencies in Vietnam.
IV. Documents to be provided by Client
| STT | Documents to be provided | Quantity | Specific request |
| 1. | Business registration certificate of the parent company | 01 | Consular legalization |
| 2. | Audit report for the last two years | 01 | Consular legalization |
| 3. | Passport of the legal representative of the investor for organization investors | 01 | Scanned file |
| 4. | Written confirmation of investor’s balance at the Bank | 01 | The minimum balance in the bank account must be equal to the amount of capital committed to invest |
| 5. | Passport of the legal representative of the company intended to be established in Vietnam | 01 | Scanned file |
| 6. | Office Lease Agreement | 01 | Original |
| 7. | Name of investment project, business lines, expected investment capital, project address, documents proving the lease location | ||
| 8. | Other documents | If any |
V. Services to be provided by Hong Bang Law Firm
Service of Company Establishment
- Receiving information, documents and requests from clients in the establishment of a foreign-invested company in Vietnam;
- Legalising necessary documents;
- Supplementing incorrect documents and/or preparing new documents to meet the requirements in terms of time in accordance with applicable laws;
- Free and comprehensive advice on how to name the Company, proposing amendments in case the Company name has been used. Supplementing incorrect documents and/or preparing new documents to meet the requirements in terms of time in accordance with applicable laws;
- Preparing and submitting the application for the Establishment of a foreign-invested company for clients;
- Paying all relevant fees and following up the process of the application for the establishment of a foreign invested company;
- Getting issued Investment Registration Certificate, Enterprise Registration Certificate, receiving and sending these Certificates to client.
Services of post-establishment of a company
- Getting a company stamp;
- Preparing tax declaration dossiers, Instructing Client on how to make the first tax declaration；
- Opening a bank account for an enterprise;
- Providing Retainer service of consultation on tax matters, financial statement, audit reports;
- Providing digital equipment for the company’s business activities such as: Digital signatures, electronic invoices…