Business License

In Vietnam, to manage the business activities of foreign-invested enterprises, the law has set forth regulations on foreign-invested enterprises when conducting business activities related to several special services and goods purchase and sale activities are forced to carry out the business license application procedures before operating in reality, typically logistics services, commercial intermediaries, e-commerce, retail activities… Depending on each field operation, the Department of Industry and Trade or the Ministry of Industry and Trade will be the agency that approves the enterprise’s license application dossier.

When do businesses need to apply for a Business License?

Business licenses are granted to foreign-invested economic organizations to carry out the following activities:

  • Performing the right to retail distribution of goods;
  • Performing the right to import and wholesale distribution of special goods such as rice; road; recorded items; books, newspapers, and magazines
  • Providing logistics services; except for logistics service sub-sectors to which Vietnam has committed to open the market in international treaties to which Vietnam is a member;
  • Leasing of goods, excluding financial leasing; except for rental of construction equipment with operators;
  • Providing trade promotion services, excluding advertising services;
  • Providing commercial intermediary services;
  • Providing e-commerce services;
  • Providing services of organizing tenders for goods and services.

Procedure for loan registration

Process Detailled description
Step 1 Prepare documents

Enterprises need to evaluate the feasibility of applying for a business license by considering the industry, financial capacity, and policies of the competent authority.

Draft license application dossier and prepare explanations based on financial information and experience of the enterprise.

Prepare documents to prove the enterprise’s capacity, financial reports, and documents proving the enterprise’s financial obligations to the tax authority.
Step 2 Submit and handle business license applications

Submit directly or by mail to the licensing agency (depending on each case);

Within 10 working days from the date of receiving the complete and valid dossiers, the Licensing Agency checks whether meet the enterprise’s conditions. In case they do not meet the conditions, the licensing agency shall a written reply, clearly stating the reason;

In case the condition is met, The licensing agency grants a business license to carry out business activities. For some special industries, before granting the license, the Department of Industry and Trade will get opinions from the Ministry of Industry and Trade.
Step 3 Get results

In case the application is approved, the enterprise will receive a business license as a result. When receiving a business license, enterprises will need to check the information contained in the license to ensure that the information recorded is correct with the original requirements of the business.

LIST OF DOCUMENTS

To apply for a Business License, you need to prepare the following documents:

  • An application for a business license ( Form No. 01 in the Appendix to this Decree).
  • A written explanation of the enterprise, the explanatory contents shall include the following contents:
    1. Legal capacity: Explain the conditions for granting the corresponding business license as prescribed;
    2. Business plan: Describes the content and methods of implementing business activities; presents business plans and market development; labor needs; evaluates the socio-economic impact and efficiency of the business plan;
    3. Financial plan: Report on business results based on audited financial statements of the latest year in case it has been established in Vietnam for 01 year or more; explanation of capital, capital sources, and capital mobilization plans; attached are financial documents;
    4. The business situation of buying and selling goods and activities directly related to buying and selling goods; the financial situation of the foreign-invested economic organization up to the time of application for a business license.
  • Tax authority documents proving no overdue tax debt.
  • Copies of documents: Enterprise registration certificate; Investment registration certificate in the project of goods trading and activities directly related to the purchase and sale of goods (if any).
Download attachments here

COMMITMENT TO SERVICES

On time

All that we do will be planned specifically in terms of time and content. You can control what we do, and the time to completion, and in all cases, we help you maintain the enterprise’s compliance with the deadlines with competent authorities and employees.

Exactly

We commit to the accuracy of the contents of consultation, established documents, and services we provide to customers. We aim to provide you with a safe and effective legal solution for your business operations.

Security

We establish a confidentiality commitment with you, so information about the enterprise, human resources, finance, etc., and other contents related to enterprises and investors will only be disclosed with your consent or in accordance with the laws of Vietnam.

SERVICE PERFORMANCE PROCESS

Assign

CDLAF assigns designated personnel responsible for ensuring information security, ensuring that only assigned individuals have the right to access information and handle client communication.

Collect information and prepare the service contents

Assigned personnel are responsible for collecting clients information, reviewing regulations and preparing service content.

Control the quality

The Board of Lawyers and Counsels reviews the service content prepared by the assigned personnel before it is sent to clients for their review.

Clients’ approval

Clients review and approve the service content prepared by CDLAF.  When requested, meetings are held to explain the prepared content.

Completion

Personnel responsible for service completion directly implement it at the competent authority (if required). They also monitor the progress, report the results, and hand them over to clients.

After-service support

Guide clients to perform necessary tasks related to the delivered results and provide updates on changes in legal regulations.

People

Contact Us

Are you confused? If you want to discuss your problem more specifically, let us help you, please fill in the information in the table below and send it to us. A free 45-minute consultation email or meeting will be arranged to help you better understand your problem solving problem.

FAQ QUESTIONS: Business License

How can I choose the right way to enter the Vietnam?

Start With the Right Plan and Support. As with any foreign country, Vietnam’s legal entity requirements, options and processes are unique, and establishing a legal entity requires the various costs of such an investment, time, and can bear other investment risks. Once investments are made, reversing strategies can be more challenging so it is vital that a company avoid missteps from the outset.

To optimize the chances for success, a business would do well to have better

  • Informed and guided business model;
  • Selection of business partners or suppliers to work with;
  • Options for initial service lines, products, and pricing models;
  • Options to set up in the right locations and more.

Obtaining on-the-ground information and practical experience in the market, can significantly help in these areas, and help position an enterprise for successes in Vietnam. Besides researching this Doing Business in Vietnam guide thoroughly, it is advisable to leverage professional assistance for further guidance with pre-market entry, investment decisions, entity set up, and all business, operational and financial factors that will arise along the path to achieving your investment objectives. In this respect, the contributors of this Guide are available to provide this expertise, via the Chat or Contact us link buttons.

What should I consider when choosing a location in Vietnam?

Vietnam is a diverse country, where each industry, market, and location are different and one size does not fit all. To evaluate potential locations, there are numerous factors to consider including, the availability of materials, government policy, taxation, proximity to market, labor availability, incentives, infrastructure, local laws, and political stability.

To gain certainty with location selection, business investors are advised to employ a location-by-location comparative approach is essential for identifying which locations provides the best opportunity and optimally suits their needs. In some cases, this may require that a rigorous Location Selection process be undertaken, entailing a market study, a comparison model, long listing locations and screening, due diligence, and a final site selections, and arrangement of site visits.

 Ấn Phẩm Demo 2

How can I choose the right way to enter the Vietnam?

Vietnam is a diverse country, where each industry, market, and location are different and one size does not fit all. To evaluate potential locations, there are numerous factors to consider including, the availability of materials, government policy, taxation, proximity to market, labor availability, incentives, infrastructure, local laws, and political stability.

To gain certainty with location selection, business investors are advised to employ a location-by-location comparative approach is essential for identifying which locations provides the best opportunity and optimally suits their needs. In some cases, this may require that a rigorous Location Selection process be undertaken, entailing a market study, a comparison model, long listing locations and screening, due diligence, and a final site selections, and arrangement of site visits.

What should I consider when choosing a location in Vietnam?

Vietnam is a diverse country, where each industry, market, and location are different and one size does not fit all. To evaluate potential locations, there are numerous factors to consider including, the availability of materials, government policy, taxation, proximity to market, labor availability, incentives, infrastructure, local laws, and political stability.

To gain certainty with location selection, business investors are advised to employ a location-by-location comparative approach is essential for identifying which locations provides the best opportunity and optimally suits their needs. In some cases, this may require that a rigorous Location Selection process be undertaken, entailing a market study, a comparison model, long listing locations and screening, due diligence, and a final site selections, and arrangement of site visits.

How can I choose the right way to enter the Vietnam?

Vietnam is a diverse country, where each industry, market, and location are different and one size does not fit all. To evaluate potential locations, there are numerous factors to consider including, the availability of materials, government policy, taxation, proximity to market, labor availability, incentives, infrastructure, local laws, and political stability.

To gain certainty with location selection, business investors are advised to employ a location-by-location comparative approach is essential for identifying which locations provides the best opportunity and optimally suits their needs. In some cases, this may require that a rigorous Location Selection process be undertaken, entailing a market study, a comparison model, long listing locations and screening, due diligence, and a final site selections, and arrangement of site visits.

Our partners

Other Posts

View all