16 Sep REGISTER A COMPANY IN VIETNAM INVESTMENT VISAS FOR INVESTORS: TYPES AND TIME LIMIT(Last Updated On: September 27, 2022)
The Vietnamese government is committed to creating a fair and attractive business environment for foreign investors, and constantly improving its legal framework and institutions related to business and investment in Vietnam. The government also offers exclusive incentives for investors who are working and living in Vietnam.
Upon completion of the enterprise establishment, an investor may be allowed to get temporary residence card without work permit. Depending on the investment capital, time limits of the card can be from 1 to 10 years.
THE LIST OF REQUIRED BUSINESS LICENSES THAT THE FOREIGNER INVESTORS SHALL BE GRANTED
- Investment registration certificate (IRC, for foreign investors to invest in Viet Nam directly).
- Enterprise registration certificate (ERC, for doing business in line with local business laws).
- Other permits depending on actual operation (Regarding to environmental, fire protection, conditional industries).
REQUIED INFORMATION FOR BUSINESS REGISTRATION
- Name of the enterprise.
- Address of the enterprise’s headquarter, phone number, fax number, and email address. (if any)
- Business lines.
- Charter capital, capital invested by the owner of the sole proprietorship.
- Types of shares, face value of each type of shares and total authorized shares of each type if the enterprise is a joint-stock company.
- Tax registration information.
- Number of employees.
- Full name, signature, permanent residence, nationality, number of the ID card, passport, or another ID paper of the owner if the enterprise is a sole proprietorship, or those of the partners if the enterprise is a partnership.
- Full name, signature, permanent residence, nationality, number of the ID card, passport, or another ID paper of the legal representative if the enterprise is a limited liability company or joint-stock company.
- Form of enterprise: Limited liability company with two or more members, one-member limited liability company, Shareholding Company, Partnership, Business Cooperation Contract.
PROCEDURES FOR BUSINESS REGISTRATION
- The founder of the enterprise or an authorized person shall submit the application for enterprise registration prescribed in this Law to the business registration authority
- The business registration authority shall consider the legitimacy of the application for enterprise registration and issue the Certificate of Business registration within 03 working days from the day on which the application is received. If the application is rejected, a written notification must be sent to the founder. The notification must provide explanation and necessary adjustments or additions.
- In the procedures and documents for business registration, there is cooperation among regulatory bodies in issuance of Certificate of Business registration, employment registration, social insurance, and online business registration.
TEMPORARY RESIDENCE CARD ISSUED TO FOREIGN INVESTORS IN VIETNAM
Temporary residence card (TRC) is a document issued by an immigration authority to a foreigner who is permitted to reside in Vietnam for a certain period of time. This card has the same validity as a visa. An investor may allowed to get temporary residence card without work permit.
Depending on the investment capital, there are 04 types of investment visas for foreign investors:
- VISA – ĐT1 has time limits of visa do not exceed 10 years – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam and contributing capital of VND 100 billion or more or investing in business lines benefitting from investment incentives, in administrative divisions benefitting from investment incentives decided by the Government.
- VISA – ĐT2 has time limits of visa do not exceed 5 years – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam and contributing capital of VND 50 billion to less than VND 100 billion or investing in business lines benefitting from the investment incentives treatment decided by the Government.
- VISA – ĐT3 has time limits of visa do not exceed 3 years – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam and contributing capital of VND 3 billion to less than VND 50 billion.
- VISA – ĐT4 has time limits of visa do not exceed 12 months – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam and contributing capital of less than VND 3 billion.
ABOUT VIVA BUSINESS CONSULTING
Who we are?
- VIVA is a business consulting company, specializes in business compliance procedures according to local business laws and regulations since 2006. VIVA has been continuously trusted by thousands of well-known clients since 2006.
- The insights and consistent backgrounds in Business Laws – Accounting and Corporate Finance – Tax Management – Labor Relations and Payroll – Secretarial services help us build trust and confidence in the entrepreneur's community.
- We have been successfully providing service for thousands of leading companies from Hong Kong, Japan, US, EU, Singapore, India, China, Korea…. in forms of FDI companies, Foreign representative offices, Foreigners working in Vietnam, Vietnamese SMEs, Chief Operation Officers.
What we do
- Services for Expats in Vietnam: Visa, Work Permit, Temporary residence card, Compulsory Insurances, Personal Income tax, Labor contracts, Employment Records and Relations, Other Secretarial Services.
- Services for Representative offices in Vietnam: Establishment, extension of representative office licenses. Required compliance procedures during operation. Rights and obligations of the chief of representative office. Closure of representative office risks management.
- Services for a company in Vietnam: Setting up a new company and licensing service. Business records management. Daily business transactions management. Tax management. Accounting and financial statements. Employments, payroll and compulsory insurances. Representative on behalf of competent state agencies for any business administration procedures.
Motivated by our core values of ceaseless improvement, our great insights in local business culture and regulations, as well as the exclusive services, promise to offer you one-stop and tailored-made solutions that optimize every of your business in Vietnam in the lawful manner.
We are looking to be your valued business partner and resources in Vietnam as we have been choosing since 2006.
- Temporary residence card in Vietnam
- 05 key steps to set up an FDI company in Vietnam
- Doing business in Vietnam – How to name the company
- Doing business in Vietnam – Vietnam company registration
- Account for payment, withdrawals capital of foreigners who invest directly in Vietnam
- How to remit profits from vietnam to home country – what foreigner investors need to know