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Summary of investment conditions applied for foreign invested enterprise

Summary of investment conditions applied for foreign invested enterprise investment procedures for newly estbalished company under law on investment 2014 and law on enterprise 2014
No. Sector Conditions Note
1 Import, export and distribution
  • The foreign investor can establish 100%  foreign invested enterprise for doing business in this fields;
  • Duration of the project shall be from 5-10 years and can be extended.
  • Based on the products to be imported, exported and distributed, the competent authority shall collect the opinion other related company for evaluating the legality, possibility of the project;  
  • Because application dossier shall be included evidence for financial capacity, experience of the investor in the field of import, export and distribution. Accordingly, the investor must have experience in the field of import, export and distribution and financial capacity  (submitting audited financial report to prove its business having profits, confirmation of bank account balance, etc.,)
Products:
  • Agriculture products:
  • Automobile spare part: can be understood as importing automobiles in CDK form. The conditions for importing automobiles in Vietnam is quiet difficult (there must be the introduction letter of manufacturer, certificate on  maintenance of automobiles granted by Ministry of Transportation) 
  • Food (the company must implement the procedures for declaring quality of imported food at Ministry of Health)
  • Electricity cable:
  • Plastic:
2 Commercial promotion  (products brokerage)
 
  • Under Vietnam’s commitment to WTO on services, 100% foreign invested enterprise can be established
 The application dossier applying for this sector shall be evaluated by Ministry of Industry and Trade
3 Design consultancy, construction works for building
  • Construction design (technology consultancy services CPC 8672) : No restriction;
  • Construction works for building: No restriction.
Because of being investment sector with conditions, the application dossier for implementing this business sector must be evaluated by Ministry of Construction.
The new established company must apply for license for construction practice for corresponding construction activities (i.e. construction design practice, construction planning practice, etc.,) .
4 Event organization
  • There is no comment for such business activities (according to Vietnam’s commitment to WTO as well as bilateral convention between Japan and Vietnam)
The application for implementing this services is based on the evaluation opinion of competent authority (Ministry of Industry and Trade), the possibility is quiet low.
5 Real estate business (purchasing, leasing construction works for lease or for re-lease)
  • 100% foreign invested enterprises are permitted to implement this service. According to Law on Real Estate Business 2014, the foreign invested enterprise shall be entitle to purchase and lease construction works for lease or for re-lease. 
  • Legal capital shall be 20 billion Vietnamese Dong (equivalent to about  100.000 USD)
  • Location for implementing the project:  when applying for the project, the investor must indicate the location for implementing the project for the evaluation of competent authority. Accordingly, if the business activities is purchasing and leasing construction works for lease or for re-lease only, an memorandum on  purchasing/leasing between investor and landlord must be submitted.
 
6 Providing employee for working abroad The  foreign invested company is not permitted to implement this services  

























































































INVESTMENT PROCEDURES FOR NEWLY ESTBALISHED COMPANY UNDER LAW ON INVESTMENT 2014 AND LAW ON ENTERPRISE 2014
(applying for the case without principal approval)

- Investors submit application dossier to provincial Department of Planning and Investment.
Application dossier includes:

  • Application for implementing investment project;
  • Investment proposal;
  • ID card/passport of investor being individual; Registration of enterprise/Articles of associates of investors being organization.
  • Other documents (financial statement, documents on location of the project…)
- Provincial Department of Planning and Investment issue Investment Certificate

15 working days from the date of receiving valid application dossier

- Department of Planning and Investment shall consider the dossier. In case the application dossier is not complied with regulations, it will notice in writing for the investors to supplement, amend the dossier. The date of receiving documents in full and complied with regulations shall be consider as the date of receiving valid application dossier

3 working days

- After obtaining Investment Certificate, Investors implement the enterprise registration. Application Dossier shall include:
  • Application for establishing enterprise;
  • ID card/passport of shareholders/members being individual; Registration of enterprise/Articles of associate of shareholders/members being organization;
  • Charter of the enterprise;
  • Investment Certificate;
  • Other documents (as request by the competent authority)

- Department of enterprise registration shall issue Certificate of enterprise registration or notice in writing to investors for their supplementation/ amendment of application dossier
05 working days

Note:
The above time shall not include time for explanation, amendment of application dossier.
  If the business activities is not included in Vietnam’s commitment to WTO, Department of Planning and Investment shall collect the evaluation opinion of relating competent authorities, if there is no respond within 10 working days, Department of Planning and Investment shall make decision by itself.

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