How to Establish Company in Vietnam?

Foreign investors may invest in the form of 100% capital to establish company in Vietnam, being limited liability company, joint stock company, partnership company.

Foreign investors that invest in Vietnam for the first time must have investment projects and fill in investment registration or examination procedures at state agencies in charge of investment in order to be granted investment registration certificates. Investment certificates shall concurrently be business registration certificates. Company with 100% foreign capital has founded and operated from the date of issuance of the investment certificate.

A project dossier for establishing company in Vietnam shall comprise:

Registration/Request for issuance of Investment Certificate;

A report on financial capability of the investor;

Draft of the company’s charter;

List of members of company;

Copy of the people’s identity card, passport or other lawful personal certification, for individual members;

Copy of the establishment decision, business registration certificate or other equivalent document, for member organizations;

Copies of the authorization document, the people’s identity card, passport or other lawful personal certification, for authorized representatives.

Copies of the business registration certificates of the foreign member organizations must be authenticated within three months before the date of submission of the business registration dossier by agencies where such organizations are registered;

Written authorization of the investor in case investor is organization and valid copy of the lawful personal certification of the authorized representative. Documents in foreign languages must be translated into Vietnamese, notarized and legalized;

The joint-venture contract or Business Cooperation Contract (BCC);

Other documents required by Vietnam law.

The establishment of a company in Vietnam would take from 30 days. The extra time might be needed in case the investment area is conditional or the State government needs to examine the investment project. Minimum capital, special licenses or other conditions might be required in certain investment projects.

The law on investment constantly changes which ANT Lawyers will monitor and provide relevant update.

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Debt Recovery Service in Vietnam

Debt recovery is always a big problem for businesses and individuals. In order to promote the production process, the process of debt recovery is always one of the concerns with the business leaders.

One of the the appropriate method is the intervention of law. ANT Lawyers Co., Ltd is a leading legal consultancy in Vietnam, with a team of experienced lawyers and legal experts that have participated and solved many debt recovery cases for businesses and individuals.

We will:

– Study the case to find the legal basis and debt data that should be handled;

– Assess the payment capability of the debtor to creditor;

– Represent the client to exposure debtor to negotiate, persuade and require debt repayment;

– Advice and instruct customer the most beneficial solutions in accordance with the law;

– Implement civil proceedings, economic proceedings or criminal proceedings against law enforcement agencies, depending on the type of entity and the nature of the transactions arising overdue debts;

In case of debt recovery through litigation, we will help customer:

– Draft petition and other papers relating to the recovery of debt;

– Represent client (individuals and organizations) to submit the petition to the Court and the competent authorities to recover the debt as stipulated by law;

– Appoint attorney to participate in protecting the legitimate rights and interests of clients (individuals and organizations) at the Court at all levels;

– Represent client (individuals and organizations) to participate in judgment enforcement

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How to Set Up Company in Hanoi?

 

The Law on investment 2021 has a lot of investment incentive policies in economic sectors in Vietnam for foreign investors.

Foreign investors that invest in Vietnam in general and Hanoi in particular for the first time must have investment projects and fill in investment registration or examination procedures at state agencies in charge of investment in order to be granted Investment Registration Certificates (“IRC”) and Enterprise Registration Certificate (“ERC”). Company with 100% foreign capital has founded and operated from the date of issuance of the investment certificate.

The investor who wishes to apply for IRC in Hanoi, s/he need to have a possible project which is accepted by the Government (The Department of Planning and Investment of Hanoi City). The dossier on applying for IRC

For Investment Registration Certificate, the investor must prepare the dossier included:

i) An application form for execution of the investment project, including a commitment to incur all costs and risks if the project is not approved;

ii) A document about the investor’s legal status;

iii) Document(s) proving the financial capacity of the investor including at least one of the following documents: the investor’s financial statements for the last two years; commitment of a parent company to provide financial support; commitment of a financial institution to provide financial support; guarantee for the investor’s financial capacity; other document proving the investor’s financial capacity;

iv) Proposal for the investment project including the following main contents: investor or method of investor selection, investment objectives, investment scale, investment capital and plan for raising capital, location, duration and schedule of the investment project, information about the current use of land in the location of the project and proposed demand for land use (if any), demand for labor, proposal for investment incentives, impact and socio – economic efficiency of the project and preliminary assessment of environmental impact (if any) in accordance with regulations of law on environmental protection.

If the law on construction requires formulation of a pre-feasibility study report, the investor is entitled to submit the pre-feasibility study report instead of a proposal for the investment project.

v) If the project does not require the State to allocate or lease out land or to permit land repurposing, a copy of the document regarding the land use rights or other document identifying the right to use the location for execution of the investment project is required to be submitted;

vi) Contents of the explanation for the technology to be used in the investment project if the project requires appraisal and collection of opinions on the technology in accordance with the Law on Technology Transfer;

vii) The business cooperation contract if the investment project is executed under a business cooperation contract;

viii) Other documents relating to the investment project, and requirements on the eligibility and capacity of the investor in accordance with regulations of law (if any).

After having the project, the investor needs to apply for Enterprise Registration Certificate, the dossier included:

i) An application for enterprise registration;

ii) The enterprise’s charter;

iii) A list of members of a limited liability company with two or more members or a list of general partners;

iv) A notarized copy of identity card or valid passport of individual member;

v) A notarized copy of the Enterprise Registration Certificate of the organization’s member;

vi) A notarized copy of valid identity card or passport of the organization’s legal representative;

vii) The copy of Investment Registration Certificate.

The time for applying the investment project is 15 working days and the time for applying the company is 03 working days after the date of submitting the valid dossier.

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Whats New in the Draft of the Decree on Amending the Decree 52 on E-Commerce?

The Decree No.52/2013/ND-CP (Decree 52) on e-commerce will be effective from July 1st, 2013. However, this Decree does not have specific regulations on e-commerce activities for foreign investors conducting e-commerce activities in Vietnam. Therefore, the draft of the Decree amending Decree 52 shall fill the missing gap for foreign investors with particulars in conducting e-commerce activities in Vietnam.

The draft decree has supplemented regulations on management of e-commerce activities for foreign investors setting up business in Vietnam. Specifically, the draft decree (i) adds specific regulations on foreign traders and organizations conducting e-commerce activities in Vietnam; (ii) supplements market access conditions for foreign investors in accordance with the Law on Investment; and (iii) provides the exclusion of foreign investors investing in economic organizations that are innovative and creative enterprises in order to promote innovation activities in accordance with the law on support small and medium enterprises.

In particular, the draft decree also provides plans for e-commerce activities of foreign investors in Vietnam. According to the draft decree, foreign investors can set up an e-commerce website under the Vietnamese domain name or an e-commerce website with the display language in Vietnamese. The option of setting up an e-commerce exchange floor with a specified number of transactions from Vietnam in a year is also considered for selection.

In addition, foreign investors setting up e-commerce websites in Vietnam must notify and register e-commerce activities according to regulations. At the same time, they need to ensure the fulfillment of obligations on protection the interests of consumers. The quality of the goods need to be protected by their representative office, designation of a legal representative in Vietnam.

Foreign investors selling goods on Vietnamese e-commerce exchanges must comply with the operating regulations of e-commerce exchanges in Vietnam. When providing Vietnam e-commerce exchanges, foreign investors are responsible for verifying their identities. In addition, foreign investors conducting e-commerce activities are responsible for complying with the provisions of Vietnamese law on the right to export and import goods in accordance with the laws.

The draft decree also specifies that e-commerce service is a conditional market access industry for foreign investors. Market access conditions will also be considered accordingly. In addition, the control and domination of enterprises providing e-commerce services are also clearly regulated.

In the coming time, Vietnam will continue to receive comments to supplement and complete the draft of decree amending Decree 52 on e-commerce activities. It is important to create a clear and appropriate e-commerce operating environment to attract foreign investors with experience and capability to invest, set up company and operate in Vietnam in the area of e-commerce to facilitate goods transaction, protect intellectual property, reduce cost. However, it is also equally important to ensure the management of investment activities of foreign investors in the field of e-commerce in Vietnam.

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Benefits of Investors to Set-up Business in Ho Chi Minh City

Ho Chi Minh City offers many benefits for foreign companies to do business and invest. It houses high number of population at working ages with growing income. It has infrastructure for logistics system to support manufacturing, import and export, and local distribution in Vietnam. It is the financial center of Vietnam. And most important, the government always has policies to improve administrative procedures and improve investment environment to create favourable conditions for company to set up business in Ho Chi Minh City.

The population of Ho Chi Minh City is of more than 10 mil, earning a higher average income than other part of the country. Consumer retail has found Ho Chi Minh City as an attractive market for investment in retail shops, malls, introducing quality consumer goods to the local.

Ho Chi Minh City offers adequate infrastructure such as the Sai Gon port systems, deep seaport access from Vung Tau port systems, Tan Son Nhat international airport, and possible Long Thanh international airport project, Saigon railway station, the expressways, etc, connecting the city to neighbouring countries in the region and other part of the world. Through setting up factories in industrial zones, processing zones, local and international manufacturing companies could take advantage of high quality labor resources at reasonable cost and move the finished goods to final destinations in US, EU with reasonable lead-time and expenses. Consequently, the city has become leading industrial city of Vietnam, contributing more than 30% industrial production, 30% GPD and 30% national income to the country’s total.

Ho Chi Minh City is also a financial center, which the biggest stock exchange is located. Many corporations, and investment companies has chosen Ho Chi Minh City to set-up management and investment offices to search for opportunities, conduct Merger and Acquisitions and other business transactions, to leverage the annual growth of the country at more than 6%.

At the same time, the city government has been improving policies to support the removal of difficulties for foreign-invested enterprises investing in Vietnam through fixing administrative procedures to shorten the administrative process, saving time for investors, offering “one-stop” mechanism at the main state agencies.

Our professional consultants and lawyers have assisted a number of foreign companies and individuals to conduct transactions, set-up companies, make investment through M&A, and actively involve in the development of Ho Chi Minh City in particular and the whole country

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What Conditions to File Divorce Petition?

 

Divorce means termination of the husband and wife relation under a court’s legally effective judgment or decision.

What is the condition of divorce?

Firstly, we need to know about subjects being entitled to request divorce settlement. That is husband or wife or both having the right to request divorce settlement from a Court; a parent or other relatives has the right to request divorce settlement from a Court when the spouse is unable to perceive and control his/her acts due to a mental disease or another disease and is concurrently a victim of domestic violence caused by his/her spouse which seriously harms his/her life, health or spirit. In addition, a husband has no right to request a divorce when his wife is pregnant, gives birth or is nursing an under-12-month child.

The divorce is divided into two cases, those are divorce by mutual consent and divorce at one party’s request.

Conditions of divorce by mutual consent: if both wife and husband request a divorce and both parties are really willing to divorce and have agreed upon the property division, looking after, raising, care for and education of their children on the basis of ensuring the legitimate interests of the wife and children, the court shall settle the divorce a court shall recognize the divorce by mutual consent; if the spouses fail to reach agreement or have reached an agreement which fails to ensure the legitimate interests of the wife and children, the court shall settle the divorce.

Divorce at one party’ s request: if a spouse requests a divorce and the conciliation at a court fails, the court shall permit the divorce if there are grounds to believe that a spouse commits domestic violence or seriously infringes of the rights and obligations of the husband or wife seriously deteriorates the marriage and makes their common life no longer impossible and the marriage purposes unachievable. When the spouse of a person who is declared missing by a court requests a divorce, the court shall permit the divorce. For a parent or other relatives’ request for a divorce mentioned above, a court shall permit the divorce if there are grounds to believe that the domestic violence committed by one spouse seriously harms the life, health or spirit of the other.

Domestic violence acts is one of the important factors mentioned in unilateral divorce. Domestic violence acts and “serious condition, common life no longer impossible and the marriage purposes unachievable” are defined in Vietnam laws.

For divorce involving foreign elements, an important condition is permanent residence. First of all, marriage and family relation involving foreign elements means the marriage and family relation in which at least one partner is a foreigner or an overseas Vietnamese or in which partners are Vietnamese citizens but the bases for establishing, changing or terminating that relation are governed by a foreign law, or that relation arises abroad or the property related to that relation is located abroad. Two foreigners shall be settled a divorce in Vietnamese court if both of them reside permanently in Vietnam. In case a partner being a Vietnamese citizen does not permanently reside in Vietnam at the time of request for divorce, the divorce shall be settled in accordance with the law of the country where the husband and wife permanently co-reside; if they do not have a place of permanent co-residence, the Vietnamese law could be applied. However, it is suggested to consult with civil or dispute lawyers in civil matters in the court proceeding to best protect the rights and interest especially involving property division and child custody.

“ANT law firm supports clients on family and marriage law in Vietnam. When you need to find a divorce lawyer in Vietnam, please contact us. We have offices located in Hanoi, Da Nang, Ho Chi Minh, convenient to support customers”

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Benefits of Investors in Setting up a Business in Da Nang

 

Da Nang is one of the five major cities in Vietnam, having a geographical location that is particularly conducive to rapid and sustainable economic development. Da Nang has important transportation routes such as the China-ASEAN international railway crossings, seaports and international airports.

Da Nang is one of the tourist centers of the country, has rich tourism potential including natural tourism resources and humanities. Da Nang has many famous scenic spots such as Hai Van pass, Son Tra mountain, Ba Na hills, Ngu Hanh Son, Cham Museum or My Khe beach have been voted by Forbes magazine as one of the six most beautiful beaches in the world. These conditions are favorable for the development of diversified forms of tourism such as travel, research, cultural.

Da Nang have infrastructure development, four types of roads are popular: high way, rail way, International airport and International sea way. Da Nang have the sea lanes to most major ports in Vietnam and around the world. It helps investor more convenient to travel everywhere in Vietnam and other countries. Moreover, Da Nang’s water supply, electricity supply and communication system has developed rapidly and is increasingly modernized, ranking third in the whole country after Hanoi and Ho Chi Minh City. Da Nang have Da Nang Port, which help investor in import/export activities easily.

The first advantage of the policy mechanism is that Da Nang has also had great support the mechanism and policies for socio-economic development of Da Nang. Since Da Nang was recognized as a national grade I city in 2003, Da Nang has implemented guidelines, regulatory directions and the issuance of specific regulatory mechanisms. With the support from the Central Government, Da Nang authorities have also developed appropriate policies and mechanisms to facilitate the development of the economy, such as the one-stop-shopping mechanism, so Da Nang which is considered as a locality with attracting investment policies in Vietnam. Examples: Procedures related to investment, investment locations, clearance and handover plan, the granting of business registration certificates and investment preference certificates shall be carried out under the one-stop-shopping mechanism at the provincial municipal all of them are resolved at Da Nang Administration Center. Investors shall be exempt from all expenses related to the settlement of investment procedures apart from the payment of business registration fees according to the provisions of law. When investing in Da Nang, investors not only enjoy many preferential policy from city government but also have chance to find clients from many countries or compete with other companies in Vietnam and foreign countries.

Tradition of unity, consensus of people and the dynamism and creativity of the leadership, these advantages has aroused, mobilized the strength, the most important and decisive resource for the development of Da Nang. The determination of leaders, city authorities in building programs, projects with the support of the people, investors, enterprises, ect that help investors who will invest in Da Nang have highest benefits.

We help clients overcome cultural barriers and achieve their strategic and financial outcomes, while ensuring the best interest rate protection, risk mitigation and regulatory compliance. ANT lawyers have Attorneys in Hanoi, Attorneys in Ho Chi Minh and Attorneys in Danang, will help customers conveniently drafting contracts, Debt Recovery, Set up business, Foreign invest, Real estate ....

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