ESTABLISH 100% FOREIGN COMPANY
There are many ways for foreign investors to set up a company with 100% foreign capital in Vietnam, but nowadays most foreign investors always want to follow the procedure quickly, neatly and quickly. We, HANKUK LAW, would like to advise on the simplest way to establish a 100% foreign-invested company for foreign investors as follows:
Step 1: ESTABLISH A ONE MEMBER LIMITED COMPANY
Submit application file for the business establishment at the business registration office.
Enterprises can apply through either of the following two forms: direct submission at the Department of Planning and Investment Business Department; or submit it online on the business registration page.
Profile components:
| 1 | Registration of 1 member limited company (Appendix I-2 Decree 122/2020/ND-CP) |
| 2 | Charter |
| 3 | Copy of passport of owner, legal representative |
| 4 | Power of attorney |
Note: when submitting a new establishment registration file at the Department of Planning and Investment of Ho Chi Minh City, the enterprise does not need to request the information disclosure procedure on the National Portal, but when submitting the application If the application is submitted in other provinces (for example, Long An), it is required to enclose with the form Appendix II-24 of Circular 01/2021/TT-BKHDT.
Step 2: POST – ERC PROCEDURES
After receiving the certificate of enterprise registration, the enterprise needs to carry out the necessary procedures such as: seal engraving, seal notification, initial tax filing, registration and bank account notification. goods, order invoices, invoice issuance notices
Step 3: SELECT THE FORM OF INVESTMENT IN VIETNAMESE COMPANIES BY ACQUIRING CAPITAL CONTRIBUTION
With this form of investment, the investor does not need to follow the procedures for obtaining an investment registration certificate, but only need to perform the procedure of obtaining approval for the investor to buy back the contributed capital.
Documents for application for Notice of satisfaction of conditions for the acquisition of capital contribution:
| 1 | Document of capital contribution / share purchase / capital contribution. |
| 2 | Copy of foreign investor passport |
| 3 | Power of attorney (if any) |
Step 4: CHANGE THE OWNER OF THE COMPANY
After getting approval from the Department of Planning and Investment, the enterprise needs to take the final step of changing the owner of the company from Vietnamese owner to foreign owner.
Profile components:
| 1 | Application form |
| 2 | New charter |
| 3 | Transfer contract between the old owner and the new owner |
| 4 | Copy of passport of new owner |
| 5 | Member list (if any) |
| 6 | Permission (result of step 3) |
| 7 | Power of attorney |