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Procedures for establishment of a foreign invested company in Vietnam

by VBLP
June 17, 2022
in Inward investment, Legal Practices, Usual Procedures
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Regardless of company type that foreign investor(s) want to set up in Vietnam, below is the licensing procedures to be taken for incorporation of a foreign invested company in Vietnam:

Step 

Contents

Licensing time limit

1.

To apply for an Investment Registration Certificate (IRC) for registering foreign investment into Vietnam.

15 days

2.

To apply for an Enterprise Registration Certificate (ERC), which is similar to a Certificate of Incorporation in other jurisdictions.

3 working days

3.

To conduct the Post-licensing Tasks, comprising:

  • To notify establishment of the company on the National Business Registration Portal;

  • To make one or more corporate seals; and

  • To open bank accounts, including a direct investment capital bank account (DICA) and operating/current bank accounts.

10 working days

To note that the licensing time limit is estimated pursuant to law. As a matter of licensing practice in Vietnam, it might take a longer time than estimated for completion of all licensing procedures.

Tags: Company incorporation in VietnamDICAforeign invested company (FOC)licensing procedures

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