Authorized Representative of the Company Under New Law on Enterprises

In order to raise the standard of business in Vietnam, Law on Enterprises 2015 reduced many administrative procedures of establishing and running a business, including the representative authorization of the member or shareholder of the company.

One of the distinguished amendments: authorized representative of the member or shareholder which is legal entity is not required to inform the licensing authority (i.e. Department of Planning and Investment).

Law on Enterprises 2015 provides that the appointment of an authorized representative must be made in written, notified to the Company and take valid from the receipt date of the Company while under Law on Enterprises 2005, the same must be registered at the licensing office.

In addition, any restrictions by the authorizing member on his/her authorized representative in the performance as member in the Members’ Council or shareholder in the Shareholders’ Meeting shall not enforce against the third party.

ANT Lawyers is a Vietnam law firm with international standards, recognized by IFLR1000 on Financial and Corporate practice. The firm provides a wide range of legal services, including M&A, corporate establishment, business advisory, tax advisory, dispute resolution for multinational and domestic clients.

This publication is designed to provide updated information of legal matters, and does not constitute professional advice.

How ANT Lawyers Could Help Your Business?

Please click here to learn more about ANT Lawyers Foreign Investment Practice or contact our Law firms in Vietnam for advice via email ant@antlawyers.vn or call our office at +84 28 730 86 529

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Enterprise establishment service in Vietnam

ANT Lawyers provides enterprise establishment consulting service for domestic and foreign customers as the following services:

-To consult to establish Joint Stock Company;

-To consult to establish One member Limited liability company;

-To consult to establish Limited liability Company with Two or more members;

-To consult to establish Partnership company;

-To consult to establish Private enterprises;

-To consult to establish Sole trader;

-To consult to establish foreign invested company;

-To consult to establish the parent company, corporations.

Customers procedures established in the ANT Lawyers will enjoy some preferential services such as:

1. Contents of enterprise establishment consulting service:

-To consult legal regulation related to the establishment, operation and management of enterprises;

-To consult to set up personnel structure of the company;

-To consult to select types of enterprises;

-To consult to choose the name of company (lookup and select the appropriate name as the request of customers);

-To consult about the head office of the enterprise;

-To consult on capital, legal capital, investment capital;

-To consult on business lines (lines requires legal capital , professional certification or other conditions);

-To draft legal dossiers for setting up the company (Request for business registration, charter, founders list and other documents as prescribed by law);

-To consult for business on tax issues, financial obligations after the enterprise have been established and the process of production and business activities;

2. Our tasks in the enterprise establishment services:

ANTLawyers will on behalf of clients to perform the following tasks:

-Drafting and preparation the enterprise establishment dossier as regulations;

-To apply the dossier for business and tax codes registration in the Department of Planning and Investment;

-To monitor progress and inform regularly results to clients;

-To obtain the Investment Certificate from the DPI;

-Filing and registration the seal for Company at the Police Department;

-To obtain the seal and the certificate of the seal for the Company at the Police Department;

-To guide the customers to follow procedures in the relevant state authority (as needed);

3. Documents required to provide by clients:

-Information requested form of business;

-A copy of ID / passport of members / founding shareholder who is individual (notarized);

-A copy of business registration / establishment decisions of members / founding shareholders who is organization.

4. Client’s benefits after establishment:

-To be consulted and offered free the activating annual tax dossier, records and procedures for billing the enterprise;

-To consult the necessary tasks of the new enterprise;

-To consult human resources management , provide free labor contracts and the forms of management personnel;

-To consult the procedures for salary scale registration, the social insurance registration of company;

-To consult on tax matters, tax refund, tax credit;

How ANT Lawyers Could Help Your Business?

Please click here to learn more about ANT Lawyers Foreign Investment Practice or contact our Law firms in Vietnam for advice via email ant@antlawyers.vn or call our office at +84 28 730 86 529

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Investment Incentives for IT area in Vietnam

Vietnam is attracting investors from around the world to make investment through setting up IT service company in Vietnam

Since 2010, Vietnam has initiated and invested more resources in the information technology which has been realized as an area that could create a competitive edge for Vietnam. Recently, the Vietnam government has put a legal frameworks to attract more investment in this area, with the issuance of Decree No.154/2013/ND-CP, taking effect from Jan 1st, 2014 guiding particularly on management of the focused information technology areas.

Cyber Security Lawyersin Vietnam

Accordingly, the enterprises at focused information technology areas will enjoy tax benefits i.e. income tax rate of 10% within 15 years, in some specific cases, extended to 30 years; exempt 50% within 5 continuous years. They are exempted the import tax when importing goods to build fixed properties, manufacture such as machines, equipment, parts, assembles.

Besides, these enterprises may enjoy convenient conditions in customs procedure, incentives in export tax, investment credit, import credit and favorable policies for enterprises business in high technology area.

The focused information technology area must have at least 2,000 employees specialized in information technology; in case of emphasizing in software manufacture, digital content, information technology service, 1,000 specialized employees will be employed at least.

How ANT Lawyers Could Help Your Business?

The changes of laws will be monitored by ANT Lawyers. For advice or service request, please contact us via email ant@antlawyers.vn or call +84 28 730 86 529

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List of Investment Sectors With Conditions Applied to Foreign Investors

In general, investment is encouraged in Vietnam. However, when setting up a company in Vietnam, foreign investors need to be aware of investment sectors with conditions applied to foreign investors in Vietnam.

Investment law firm inVietnam

The following sectors with investment conditions are issued with Decree 108/2006/ND-CP dated September 22nd 2006 of the Government on guiding the implementation of some Articles in the Law on Investment:

1. Radio and television.

2. Production, publication and distribution of cultural products.

3. Mining and mineral processing.

4. Set up telecommunication network infrastructures, broadcasting, provide telecommunications and internet services.

5. Construction of the public postal network, provide postal services, delivery services.

6. Construction and operation of river ports, sea ports, airports.

7. Transportation of goods and passengers by railway, airway, road, sea, inland waterway.

8. Fishing.

9. Tobacco production.

10. Real estate business.

11. Businesses in the field of export, import and distribution.

12. Education and training.

13. Hospital and clinic.

14. Other areas of investment in the international treaties to which Vietnam is a member that restricting the market access for foreign investors.

The investment conditions applicable to foreign investors with investment projects in the fields of investment provided with this list shall be in accordance with the provisions of the international treaties to which Vietnam is a member.

How ANT Lawyers Could Help Your Business?

Please click here to learn more about ANT Lawyers Foreign Investment Practice or contact our Law firms in Vietnam for advice via email ant@antlawyers.vn or call our office at +84 28 730 86 529

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