The service for establishing an enterprise in Vietnam is a service that is provided by Vinasc Group to consult and carry out procedures to establish a Vietnamese enterprise with 100% Vietnamese capital. These services help clients prepare all necessary legal procedures for an organization to be able to operate in accordance with the law.
I. SERVICE PROVISION PROCESS AT VINASC:
Step 1: VINASC receives basic information about the change of the other investment registration details
- Vinasc receives basic information about the changes in the investment registration details of the enterprise, such as:
– Phone number;
– Email/fax address;
– Other information. - Vinasc will review the specific legal requirements involved to develop a service implementation plan.
Step 2: Prepare necessary dossier
- The two parties discuss and agree on the content of the service, then Vinasc bases on them to prepare the necessary documents to hand over to the business for authentication.
- Vinasc receives the complete authenticated dossier along with the documents that the business needs to prepare to complete the dossier.
Step 3: Submit the application to the competent authority as prescribed
- Submit the application for Adjustment of the Investment Registration Certificate (IRC) at the investment registration authority.
- Submit the application for Adjustment of the Enterprise Registration Certificate (ERC) at the business registration authority.
Step 4: Track the processing of documents
- VINASC monitors the dossier processing process step by step and reports the progress to the business as requested. In case of need to modify, supplement information, documents, Vinasc is responsible for completing it as soon as possible to limit work interruption.
Step 5: Complete the service & Deliver the results to the client
- Review all the steps of the service implementation to ensure that the service has been completed comprehensively
- Transfer to the business the specific results that Vinasc collects on behalf of the business during the service provision process.
II. SPECIFIC RESULTS
- New Investment Registration Certificate (IRC)
- New Enterprise Registration Certificate (ERC)
III. ESTIMATED IMPLEMENTATION TIME
- Applying for Investment Registration Certificate: 25-30 working days
- Applying for Enterprise Registration Certificate: 05-07 working days
The above estimated time is calculated from the date Vinasc receives the full dossier as requested and sent to you.
*Comprehensive List of Required Documents
| No. | Required documents | Implementer | ||
| Customer
(1) |
Vinasc Group (2) | Vinasc Group handles on behalf of our client (3) | ||
| 1 | Application for investment project adjustment:
Written request for investment project adjustment;
Investment project proposal;
Project implementation progress report;
Power of Attorney. |
X | ||
| 2 | Application for adjustment of enterprise registration content:
Notification of change of enterprise registration content;
Minutes of the meeting (if any);
Company’s decision;
Power of Attorney. |
X | ||
(*) According to the procedure, the customer is responsible for completing the documents in column (1), and Vinasc will be responsible for completing the documents in column (2).
(*) In some cases, if the customer has difficulty preparing the documents, Vinasc can complete the documents in column (3) on their behalf. However, in this situation, we must examine each specific case and the following issues may arise:
– Additional document preparation costs (these costs will vary depending on the government agency and the legal regulations in Vietnam at each stage)
– Additional time required to prepare these documents
(*) During the preparation process, the customer should send a scanned copy of all the above documents in advance so that we can prepare the documents in a timely manner.
(*) In some special cases, the government agency may request additional information to supplement the documents.
V. RISK WARNING
According to Article 17 of Decree 122/2021/ND-CP, a fine of VND 70,000,000 to VND 100,000,000 will be imposed for failing to carry out the procedures to adjust the Investment Registration Certificate when the adjustment of the investment project changes the content of the Investment Registration Certificate.
Additionally, the remedial measure is to enforce the procedure to adjust the Investment Registration Certificate.
Note: In cases where a foreign-invested company changes the details on the Enterprise Registration Certificate without changing the investment registration details, it only needs to carry out the procedure to change the Enterprise Registration Certificate at the Business Registration Office of the Department of Planning and Investment in the province/city.
For example, if a company changes its legal representative in Vietnam, it only needs to update the business registration details on the Enterprise Registration Certificate.
Additionally, depending on the client’s needs, VinaSC often provides consultation and support to help investors effectively manage related services such as tax-accounting, labor, social insurance, salary, sub-licenses, etc., ensuring full compliance with Vietnamese law, which you can refer to.
Please contact VinaSC for advice, support, and detailed quotes for the above services.