Foreign investors who want to establish an investment company in the field of “E-commerce activities” need to meet the conditions on market access and the provisions of Vietnamese law as follows:
Legal basis
- Agreement of WTO, CPTPP
- Decree No. 52/2013/ND-CP dated May 16, 2013 of the Government, as amended and supplemented by Decree 85/2021/ND-CP on e-commerce.
- Decree No. 08/2018/ND-CP dated January 15, 2018 of the Government amending a number of Decrees related to business investment conditions under the state management of the Ministry of Industry and Trade
Market access conditions for foreign investors to establish companies for e-commerce activities
- WTO commitments: not regulated
- CPTPP: WTO commitments under NCM II-VN-36 and Sub-Annex A for Market Access obligations and Unlimited commitments for national treatment obligations.
- Regulations of Vietnamese law: tourism promotion and promotion activities comply with regulations and conditions under Decree No. 52/2013/ND-CP dated May 16, 2013 on e-commerce, Decree No. No. 08/2018/ND-CP dated January 15, 2018 and subsequent amendments and supplements.
Conditions for establishing a foreign-invested company for e-commerce activities
Foreign investors who are allowed to establish companies providing e-commerce services and want to be granted a business license need to meet the following conditions:
For foreign investors belonging to countries or territories participating in international treaties with which Vietnam or has its own FTA with Vietnam
- Satisfy the conditions on market access in international treaties to which Vietnam is a contracting party;
- Having a financial plan to carry out the activities requested for a business license;
- No more overdue tax debt in case it has been established in Vietnam for 01 year or more.
For foreign investors not belonging to countries or territories participating in international treaties to which Vietnam is a contracting party, there is no separate FTA with Vietnam.
- Having a financial plan to carry out the activities requested for a business license;
- No more overdue tax debt in case it has been established in Vietnam for 01 year or more.
- In addition, to be granted a Business License, investors need to meet the following criteria:
- Comply with the provisions of specialized laws;
- Consistent with the level of competition of domestic enterprises in the same field of operation;
- Ability to create jobs for domestic workers;
- Ability and level of contribution to the state budget.
For your further information, kindly refer to the next article: Set up foreign-invested e-commerce service company in Vietnam or Establish foreign-invested e-commerce service company in Vietnam of Viet An Law.
Customers wishing to establish a foreign-invested company in the field of e-commerce activities, please contact Viet An Law Firm for detailed support!
