Cambodia Tax Regulation Update-June 2020
The Ministry of Economy and Finance (MEF) promulgated Prakas No. 525 on June 19, 2020, which aims to reduce the withholding of withholding when the Cambodian banks and microfinance institutions ("MFI") pay domestic and overseas interest payments Tax ("WHT
2021
01
Jun
How to register a company in Vietnam?
2021-06-01

This service account insists on originality. The author is Zhang Xiaoming, partner of Zhuozhi (Vietnam) Accounting Firm, three years of multinational enterprise management experience, six years of listing audit experience, five years of entrepreneurial experience, Chinese certified public accountant (CPA), international certified public accountant (ACCA) ). WeChat: hy945568


In the past two years, due to Vietnam’s political stability, economic freedom, and reasonable taxation, Chinese capital investment began to gather in Vietnam. Especially the stability and friendship between China and Vietnam, investing in Vietnam has become a hot topic for domestic investors, private business owners, and entrepreneurs in recent years.

The article will take you to learn about Vietnam’s laws and regulations and how to register a company in Vietnam. First, there are two registration methods in Vietnam: the first is to directly register a 100% foreign company in Vietnam in the name of a company, and the second is to register a 100% foreign company in Vietnam by direct investment in the name of an individual. The materials required for the method are analyzed one by one

The first type: Register a 100% foreign company in Vietnam in the name of the company

If we register a Vietnamese company in the name of a Chinese company, then we need to prepare the following materials

1. Chinese company business license notarization + dual certification documents

2. Chinese company's annual financial audit report (copy or scan)

3. Chinese company's articles of incorporation (copy or scan)

4. The first page of the passport of the Chinese company legal person + the front and back of the ID card (copy or scan)

5. The original certificate of deposit of funds in the account of the Chinese company (the corresponding deposit certificate of the registered capital of the Vietnamese company issued by the Bank of China)

6. The first page of the passport of a Vietnamese legal person + the front and back of the ID card (copy or scan)

7. Registered company address + rental contract (If the landlord is a company, it needs to provide a business license and fire safety certificate; if the landlord is an individual, it needs to provide a self-employed household license and ID card)

It is worth noting that all the corresponding electronic documents need to be signed and stamped by the Chinese company and brought to Vietnam. Secondly, the relevant documents need to be dual-certified.

After the above materials are prepared, we need to pay attention to the verification and preparation of the following basic information

1. Provide 2-4 registered company names for easy selection (due to different expressions in Vietnamese characters, the names can only be as close as possible to the requirements)

2. The company’s registered capital: It is recommended that more than 100,000 US dollars (the actual funds need to be received within 3 months after the issuance of the investment license)

3. The company's business scope: if you need to do a retail retail license, you need to apply

4. Investment shareholder information (such as legal persons staying in Vietnam for a long time to operate, it is recommended to include a small number of shares to facilitate the use of investment visas)

5. Information on the estimated number of local workers in Vietnam

The second type: registration of a 100% foreign company in Vietnam in the name of an individual

Of course, I believe that some investors want to invest in registered companies by themselves. The relevant information you may need to prepare here is:

1. The original certificate of deposit of funds in a Chinese personal account (the corresponding deposit certificate of the registered capital of a Vietnamese company issued by the Bank of China)

2. Front page of Vietnamese investor passport + front and back of ID card (copy or scan)

3. The first page of the passport of a Vietnamese legal person + the front and back of the ID card (copy or scan)

4. Registered company address + rental contract (If the landlord is a company, it needs to provide a business license and fire safety certificate, and if the landlord is an individual, it needs to provide a self-employed household license and ID card.)

It should be noted that if the investor is not in Vietnam, a sample of Vietnamese signature can be issued to the company to sign on behalf of the company)

When our materials are ready, the following information is what you need to pay attention to and check:

1. Provide 2-4 registered company names for easy screening

2. Registered capital of the company: It is recommended that more than 100,000 US dollars (the actual capital verification is required after the issuance of the investment license of the direct foreign company)

3. For the company's business scope, additional applications are required for retail retail licenses, such as investment in production, production environmental protection licenses and various certificates by themselves.

4. Investment shareholder information (such as legal persons staying in Vietnam for a long time to operate, it is recommended to include a small number of shares to facilitate the use of investment visas)

5. Information on the estimated number of local workers in Vietnam (it is best to provide more workers in the future)

The above is a basic process and preparation process for registering a foreign company in Vietnam. It is worth noting that whether to register a company in the name of an individual or a company in Vietnam, the actual capital verification is required. The so-called capital verification means that the registered capital must actually be entered into Vietnam. Account, of course, some investors may have concerns about the safety of the inflow of funds into Vietnam and do not want to verify the capital. Is there any way to solve this?

Of course, after years of practice, our company has summarized a set of own registration methods, that is, companies can be registered without actual capital verification. The specific operation methods will be explained in detail next time.