Establishment of Samoan Invested Company in Vietnam

Although it does not possess a strong economy like other powers, Samoa has shown a strong commitment to Vietnam’s development through investment activities. With a focus on industrial parks, especially in Dong Nai, with the number of 26 investment projects in Dong Nai, Samoa has contributed positively to the development of industrial parks here. Paper, textile, dyeing and furniture projects not only create thousands of jobs for local workers but also contribute to improving the competitiveness of Vietnam’s processing and manufacturing industry. Viet An Law would like to guide customers through the procedures for establishing a Samoan invested company in Vietnam through the article below.

Why should Samoa set up a company in Vietnam?

Favorable investment environment

• Opening policy: Vietnam has an economic opening policy, creating favorable conditions for foreign investors, including Samoa.
• Infrastructure is increasingly complete: The transport system, seaports and airports are increasingly upgraded, creating favorable conditions for production and export.
• Abundant workforce: Vietnam has a young, large and skilled workforce that is ready to work at competitive wages.
• Large domestic market: With a large population and increasing consumer demand, Vietnam is an attractive market for products and services.

Favorable geographical location

• Gateway to Southeast Asia: Vietnam is located in the center of Southeast Asia, which is convenient for trade and access to major markets in the region.
• Free Trade Agreements: Vietnam has signed many free trade agreements, facilitating the export of goods to other markets.

Policies to support businesses

• Many incentives: The State of Vietnam has many preferential investment policies, such as tax reduction, capital support, land facilitation, etc.

Potential investment sectors

• Processing industry: Vietnam has many advantages to develop the processing industry, such as textiles, footwear, furniture, etc.
• Agriculture: Vietnam has a large area of agricultural land and abundant labor resources, suitable for the development of high-tech agriculture.
• Services: Vietnam’s service industry is developing rapidly, especially tourism and real estate.

The process of establishing a 100% Samoan company in Vietnam

Step 1: Apply for an investment certificate;

Step 2: Register to establish a company with 100% Samoan capital in Vietnam;

Step 3: Proceed to engrave the legal entity’s seal when it has a tax identification number;

Step 4: Open an investment capital account and contribute capital;

Step 5: After completing the capital contribution procedure, business activities can be carried out. Note that it may be necessary to apply for sub-licenses for conditional business investment lines

Apply for an investment certificate to establish a 100% Samoan company in Vietnam

Dossier of application for an investment certificate

• Written request for implementation of the investment project;
• An investment project proposal includes the following contents: the investor implementing the project, investment objectives, investment scale, investment capital and capital mobilization plan, location, duration, investment schedule, labor demand, proposal for investment incentives, impact assessment, etc socio-economic efficiency of the project;
• Dossier proving the company’s head office: Lease contract, Notarized copy of real estate documents of the lessor: Land use right certificate, Construction permit; if the lessor is a company: It is necessary to provide a copy of the enterprise registration certificate with the function of real estate business;
• Confirmation of account balance corresponding to the capital intended to establish an FDI company is consular legalized and notarized

Depending on whether the investor is an individual or a legal entity, it will be necessary to provide the following additional documents:

Place of application: Department of Planning and Investment where the head office is expected to be located.

Processing order: Within 15 days from the date of receipt of a complete and valid dossier, the Department of Planning and Investment will issue an Investment Registration Certificate to the foreign investor. In case of refusal, the Department of Planning and Investment will reply in writing and clearly state the reason.

Registration of establishment of a 100% Samoan company in Vietnam

Application for Samoan capital enterprise registration certificate

• Application for enterprise registration;
• Charter of the enterprise;
• List of members of a limited liability company with two or more members or a list of general partners;
• A notarized copy of the identity card or valid passport of the individual member; a notarized copy of the enterprise registration certificate of the member being an organization; a notarized copy of the valid identity card or passport of the legal representative of that organization;
• The Samoan Investor’s Investment Registration Certificate has been completed above.

Place of application: Department of Planning and Investment where the enterprise is headquartered.

Duration: 03 – 06 working days.

Engraving the legal entity seal after having a tax identification number

After the business has a tax identification number, engraving the legal entity seal is an important step to complete the establishment procedure. The legal entity seal is an official identification sign of the business, used in transactions and legal documents.

Open an account with 100% Samoa investment capital in Vietnam and contribute capital

Preparation of dossiers for opening investment capital accounts includes:

• Enterprise establishment license or investment registration certificate.
• Investor’s identity document (passport, visa).
• Documents proving the legal origin of the investment capital.

Place to apply: Submit the application at the selected bank.

The bank will conduct the appraisal of the dossier and open an investment capital account for the investor.

After having an investment capital account, the company with Thai capital contributed capital. Note that enterprises need to fully contribute the registered capital within 90 days from the date of issuance of the business registration certificate.

• Money transfer: Investors transfer money from an overseas account to an investment capital account opened in Vietnam.
• Confirmation: The bank will confirm the transfer of capital contribution.

Customers who need to support the procedures for Samoan investors to establish a company with 100% investment capital in Vietnam, please contact Viet An Law for the fastest and most detailed support!