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 |
About Us, Hankuk Law Firm
■ Hankuk Law Firm – Introduction
The goal of the legal services provided by HANKUK LAW FIRM is to support businesses, investors, and people. Our organization employs skilled Korean lawyers, partners, and professionals to provide legal services to businesses related to corporations and litigation.
To support the startup process, our lawyers and staff provide a wide range of services, including business law consulting, tax and immigration law consulting, real estate services, business consulting, marketing and communications, human resources, product distribution, franchise options, etc. We provide expert advice on every aspect of your business needs.
To protect the legitimate rights and interests of our clients and achieve the best results, we provide legal advice and participate in civil lawsuits related to business, labor, marriage, family, and inheritance.
■ Contact us now
For reliable and effective legal advice, please contact HANKUK LAW FIRM now. We are committed to providing you with the best possible answers and our team of experienced lawyers has extensive knowledge in many legal fields. We are always here to provide the most competent and dedicated support, whether you are dealing with contractual issues, commercial disputes or need guidance on foreign investment. HANKUK LAW FIRM is honored to have assisted hundreds of domestic and international clients in skillfully resolving complex legal issues as their trusted legal partner. Do not let legal issues hinder your success. Let us accompany you towards legal achievement and comfort. For prompt guidance and support to ensure your rights are always maintained at the highest standards, contact HANKUK LAW FIRM now.
■ Contact Hankuk Law Firm:
| Website: http://hankuklawfirm.com/en/
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