16 Sep VIETNAM COMPANY REGISTER INVESTOR’S TEMPORARY RESIDENCE CARD AND TIME LIMITS(Last Updated On: April 21, 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.
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