The Law on investment 2021 has a lot of investment incentive policies in economic sectors in Vietnam for foreign investors.
How to set up company in Hanoi
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 docum
ent 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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