Venturing into the Vietnamese business landscape is an exciting endeavor, and for foreigners, it opens doors to new opportunities and markets. However, establishing a company in Vietnam as a foreign individual requires meticulous preparation and adherence to specific regulatory requirements. Central to this process is the preparation of essential documents. In this discussion, we will explore the documents that foreigners must prepare when aspiring to establish a company in Vietnam, shedding light on the critical steps for success in this vibrant and growing market.
Question:
My two foreign friends and I want to establish a joint stock company in the field of nail and hair care in Vietnam. Besides the necessary legal documents provided on the Department’s website, what other documents do these two foreigners need to provide or what other licenses, certificates in other professions need to be provided to complete the registration process?
Answer:
– For enterprises with foreign investment, we recommend that the company refers to the specific sector stipulated in the Specific Commitment Schedule on Trade in Services signed between Vietnam and the World Trade Organization (WTO) when registering the business sector.
– The documents, procedures, and sequence for establishing a Joint Stock Company are conducted in accordance with the provisions of Article 23 of Decree No. 01/2021/ND-CP on business registration. Furthermore, this procedure involves obtaining an investment registration certificate when the enterprise is established or participates in the establishment by foreign investors or economic organizations with foreign investment capital. This requirement aligns with the regulations set forth in the Law on Investment and its related guiding documents. Therefore, if you require assistance or guidance throughout this process, please do not hesitate to reach out to the Foreign Economic Department within the Department of Planning and Investment.
Conclusion
In conclusion, the journey of foreigners wishing to establish a company in Vietnam hinges on meticulous document preparation. These documents are the cornerstone of regulatory compliance and smooth operations in this dynamic market. By understanding and diligently assembling the required paperwork, individuals can confidently navigate the complexities of doing business in Vietnam. This not only fosters growth and success but also contributes to the thriving business landscape of this Southeast Asian nation.
HMLF is always available to offer assistance in understanding the procedures with authorities.
Harley Miller Law Firm “HMLF”
Head office: 14th floor, HM Town building, 412 Nguyen Thi Minh Khai, Ward 05, District 3, Ho Chi Minh City.
Phone number: +84 937215585
Website: hmlf.vn Email: miller@hmlf.vn
