With Vietnam’s fast-growing economy and its integration into the global supply chain, foreign investors are progressively investing in this alluring country to pursue more profits. The multiplying investments also mean the increasing number of company incorporation in Vietnam, especially over the past decade. In Vietnam, it is possible to establish a company with 100% foreign ownership.
For a foreigner or a foreign company to set up a company in Vietnam, they are required to register with Vietnam state authority and secure compulsory certificates and licenses. These procedures are necessary to protect the investor’s rights and prevent investment fraud.
In addition to the mandatory enterprise registration certificate, another requisite document that allows foreigners to register a foreign direct investment limited liability company in the country is the investment registration certificate.
Our incorporation specialists will give you an easy-to-follow guide on how you can go about securing an investment registration certificate in Vietnam.
What Is an Investment Registration Certificate in Vietnam?
In Vietnam, an investment registration certificate (IRC) is a hard copy certificate issued by the Vietnamese government for foreign investors.
This certificate states the information of a registered investment project that foreign investors are involved in through foreign direct investments (FDI).
The information includes investor details, investment objectives, project duration, land usage status (if any), the project’s total investment capital, investment incentives/assistance, and requirements, and others.
Investment Registration Certificate Vietnam: Requirements & Process
The government has simplified the process to get an Investment registration certificate in Vietnam since 2014 to encourage more foreign investments in the country.
If an investment project does not require an investment policy approval decision by the National Assembly/ the Minister/ or the People’s Committee, investors just need to submit their investment registration application to the investment registration authority (Vietnam’s Department of Planning and Investment, or DPI). Then, the DPI will issue the IRC to the investors within 15 working days once they have received a complete and valid application from the investors.
If an investment project is subject to an investment policy approval decision, the investors are request to obtain the approval decision first. After that, DPI will issue the IRC to investors within five working days upon the receipt of the investment policy approval decision.
Essential Documents Required for Individual Investors
- A copy of each investor’s passport
- A registered company address
- A bank statement as the proof of funds
Essential Documents Required for Foreign Investors under Their Companies
- A copy of the legal representative’s passport
- The parent company’s business license or its equivalent
- The parent company’s audited financial statements for the previous two years or a bank statement
- The parent company’s Articles of Association
- A registered company address
Typically, the entire process requires an average of 30 working days from the date of your IRC application submission. If your dossier is not complete and there is a further review required by other authorities, it may take up a longer time (around 30 days).
Therefore, it is important that your submission is complete and valid, and you meet all the stated requirements. If you still have the slightest confusion, you should always seek advice from a professional consultant locally.
How Cekindo Can Assist
Getting yourself familiar and constantly updated with the legal regulations in Vietnam can be challenging.
It is prudent to work with a local professional to get timely expertise and legislation updates. Cekindo is at your service to ensure a smooth registration process for your investment registration certificate in Vietnam.
Our team of experts will help you acquire your investment registration certificate in Vietnam without any troubles and inconveniences. If you are looking for long-term success for your business, our local know-how, global expertise, and dedicated support are what you need.
Apply with us now and your IRC will be with you very soon. Fill in the form below.