A significantly growing number of companies are now shifting their electronics production to Vietnam to enjoy the country’s low manufacturing costs. Furthermore, the country’s electronics manufacturing industry is currently prospering and investors are seeking to take advantage of profitable opportunities. Vietnam has also become one of the largest manufacturing facilities for international big brands such as Samsung, LG, Canon, and HP.
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Types of Electronics Manufacturing Business in Vietnam
There are several types of electronics manufacturing businesses in Vietnam. Below are the most common ones:
- Cable assembly
- PCB assembly
- Prototyping
- Testing
- Electromechanical assembly
- Aftermarket services
Documents to Prepare to Register a Vietnam Electronics Manufacturing Company
Before you can set up a Vietnam electronics manufacturing business, the law requires you to obtain an Investment Registration Certificate.
Documents to submit for the application of the said certificate are as described:
- Written proposal of the Vietnam electronics manufacturing company establishment and the factory’s quality
- Written proposal for the investment project
- Copies of investors’ identity cards, and the company’s establishment license
- A copy of the financial report for the past two years, parent company’s financial support commitment, financial institutions’ financial support commitment, investors’ financial capacity guarantee, or relevant documents indicating investors’ financial capacity
- Head office lease contract or relevant documents showing the lessor’s legal leasing rights
RELATED: Things to Consider Prior to Operating a Manufacturing Plant in Vietnam
Process of Company Registration
Once you have received your Investment Registration Certificate, you can go ahead with your company registration with the help of a qualified advisor.
Here we provide you with a summary of the company registration process:
1. Prepare the following documents:
- Investment Registration Certificate
- Charter of Company
- Lists of company members, founding shareholders and foreign shareholders, partnership, and authorised representatives
- Copies of identification documents of founders
- Business registration certificate, license of establishment, or other equivalent documents
2. Submit the documents to Vietnam’s Department of Planning and Investment.
3. The authority will process the submitted documents after 5 working days.
4. Once approved, the authority will issue the Business Registration Certificate for your Vietnam electronics manufacturing company.
5. You will then have to claim your business registration officially on the national information portal.
6. Complete company seal engraving.
7. Submit the company seal documents and announce the company seal with the authority.
What to do after the Company Registration Process is Completed
After you have completed the registration of your Vietnam electronics manufacturing company, there are some post company registration procedures you need to take care of to ensure you can run your business efficiently and legally:
- Put up the company sign at the head office
- Open a company bank account and inform Vietnam’s Department of Planning and Investment
- Declare your business’ tax calculation method
- Register an electronic signature for tax purpose and pay taxes online
- Once the business registration certificate is issued, collect capital the within 90 days
How Cekindo can Assist
Starting a Vietnam electronics manufacturing company is not an easy undertaking and you will need professional help. There are many management and accounting structures and legal issues that only a professional Vietnam company setup expert can assist you with. For instance, helping you to determine which type of legal entity suits your business the best.
It is also critical to have the knowledge of an experienced and professional team to help you decide what documents you need, what legal procedures to take, and what ideal business practices to adopt to stay away from legal complications and maximise your business profits.
Cekindo has a wide variety of Vietnam company setup services designed to help companies and individuals form their legal entities efficiently with almost zero hassle. Our team of experts consists of business setup experts, professional business advisors, legal advisors, business management staff, accountant, and business planning specialists.
We can assist all types of businesses with the legal procedures and paperwork, such as registering your company in Vietnam, creating your memorandum article, registering, and all other relevant formalities at the best rates.
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