Purchaseing an operating company in Vietnam is a form of investment that many foreign investors choose due to its benefits. However, they should notice that there are some legal procedures they have to carry out before official own the company, which are regulated by the Law on Enterprise 2014, Law on Investment 2014 and Decree 78/2015 / NĐ-CP. This article will provide the details of those legal procedures.
According to the Law on Investment 2014, foreign investors who wish to own more than 51% of the charter capital must carry out registration procedures for buying shares. The transfer of the company to a foreigner means that the person will hold 100% of the charter capital of the company, so this procedure must be carried out before the transfer.
Application file for capital contribution should include:
Under the Decree No. 78/2015/NĐ-CP, when the company owner transfers his/her whole charter capital to another individual or organization, the transferee must register the change of ownership:
The application are submitted to the Business Registration Office of the province / city where the company is located. Within 3 days, the Business Registration Office will consider the validity of the above mentioned documents and issue the certificate of business registration.
Foreign investors who receive assignments will have to register for convert or retain the type of company in accordance with the law. The regulations on documents and procedure depend on the type of company that investor wish to establish.
Due to the complexity of the procedures, which require much paperwork and time, investors should contact with liable law firms for more information.
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