Administrative procedure of business license for foreign-invested business entity 2019

Subject Administrative procedure of business license for foreign-invested business entity to :

–       Offer logistics services; other than sub-sectors of logistics for which Vietnam has committed to open its market as specified in international treaties to which Vietnam is a signatory.

–       Good rental, excluding finance lease; other than lease of construction equipment with operators;

–       Provide commercial promotion services, excluding advertising services;

–       Provide commercial intermediary services;

–       Provide electronic commerce services;

–       Providing bid-holding services.

Overview In 2019, it is considered that there will be quite a number of legal documents on mechanisms and policies on investment incentives in economic sectors in Vietnam for foreign investors with validity and new regulations effective. Accordingly, enterprises need to understand the new regulations and investment incentives when conducting investment to establish companies in Vietnam.

Legal basis:

Law 36/2005 / QH11

Law 67/2014 / QH13

Law 03/2016 / QH14

Law 05/2017 / QH14

Decree 09/2018 / ND-CP

Conditions for issuing business license – Acquire a financial plan deemed qualified to apply for a business license;
– Incur no overdue tax in a case where it has been established in Vietnam for at least 1 year.
– Meet the criteria below:

+ In accordance with specialized laws;

+ Suitable for the level of competition of domestic enterprises in the same field of operation;

+ Ability to create jobs for domestic workers;

+ Ability and level of contribution to the state budget

The order of execution – 2 sets of application shall be submitted in person, by post, or via Internet (if available) to the licensing agency.
-Within 3 working days from the date on which the application is received, the licensing agency shall verify it and request necessary modifications if it is inadequate or unsatisfactory.
-Within 10 working days from the date on which an adequate and satisfactory application is received, the licensing agency shall verify whether conditions prescribed in Article 9 hereof are satisfied:

+ In case where conditions are not satisfied, the licensing agency shall provide explanation in writing;

+ In case where conditions are satisfied: The Department of Industry and Trade sends a document with a written opinion to the Ministry of Industry and Trade.

-Within 15 days from the date on which the application is received, the Ministry of Industry and Trade and the managing Ministry shall, according to Article 10 hereof, consider approving the issuance of a business license; if the application is refused, it shall provide explanation in writing (form No. 10 of Appendix issued herewith).
-Within 3 working days from the date on which a notification of acceptance issued by the Ministry of Industry and Trade or managing Ministry is received, the licensing agency shall issuance a business license. If the application is refused by the Ministry of Industry and Trade or managing Ministry, the licensing agency shall provide explanation in writing.
Implementation method – Submitted by post office
– Submitted directly at the Department of Industry and Trade where the foreign-invested economic organization is headquartered.
– Via online public service system (if eligible).
Dossiers No Type of document Application form, declaration form
1 – An application form for a business license (form No. 01 of Appendix enclosed decree no.09/2018/NĐ-CP dated 15/01/2018); ·         form No. 01
·         https://docs.google.com/document/d/1nqcCR5C-_mCQKY0L-Bl3Yyrf1lL0J3ZtaXgpb4KorFQ/edit?usp=sharing
2 – A representation with content as prescribed in Clause 2, Article 12 of Decree 09/2018 / ND-CP dated January 15, 2018 of the Government Form no.09 : A licensing agency shall consult with the Ministry of Industry and Trade and managing Ministry
https://docs.google.com/document/d/1ha6k0Ej8mbOw-TkjT70wx79p2hIKMBSzkgZjGCowOvo/edit?usp=sharing
Form no.10: Ministry of Trade and industry reply letter (form 09) of licensing agency on issuing business license for foreign-invested business entity
https://docs.google.com/document/d/1_DHs-3Cxi2IhLdnCm_80UqieJqD9xAEBvHJosbp3gwg/edit?usp=sharing
3 -Documents of tax authorities prove no overdue tax issued by the tax authority.;
4 – Copy of business registration certificate;
5 – A copy of the project investment registration certificate of goods purchase and sale activities and activities directly related to the purchase and sale of goods (if any).
Number of document set 02 sets
Timeline 28 working days from the date of receipt of a complete and valid file.
Regulated entities Foreign-invested business entity 
Implementation agency Industrial and commercial facilities/ Department of Industry and Trade
Result Business license

 

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