(+84) 96 167 55 66
info@vietanlaw.com

Establish foreign-invested company providing customs agent services in Vietnam

A company provding customs agent services (including customs clearance services) is a unit specializing in customs services, licensed by the customs authority, and responsible for the contents declared on customs declaration for the customer.

Establish foreign-invested company providing customs agent services in Vietnam

Table of contents

Hide

    Legal basis

    • Trade agreements: WTO, AFAS, VJEPA, VKFTA, EVFTA, CPTPP;
    • Decree No. 163/2017/ND-CP dated December 30, 2017 regulating the business of logistics services.

    Conditions of market access when establishing a foreign-invested company providing customs agency services

    Regulations in the Agreements

    In the trade agreements that Vietnam is a member, it is noted:

    Customs clearance services (or “customs brokerage services”) alow establishment of joint ventures without limitation of foreign ownership.

    Accordingly, foreign investors who want to do business in customs clearance agency services (including customs clearance services) only have to establish a joint venture company with Vietnamese investors without any limitation on the rate of foreign investors in joint ventures. The simplest understanding is that foreign investors can contribute up to 99% of the company’s capital, while Vietnamese investors need only contribute 1%.

    Regulations of Vietnamses law

    In case of trading in customs clearance services belonging to maritime transport support services, they may establish an enterprise or contribute capital, purchase shares or contributed capital in an enterprise, including capital contributed by domestic investors. Foreign investors are allowed to establish a commercial presence in Vietnam in the form of a business co-operation contract.

    The condition of providing customs agency services

    • Having a enterprise registration certificate or an business registration certificate with a business line of freight forwarding services or a customs clearance agent;
    • Having agent staff to carry out customs procedures;
    • Having information technology infrastructure that satisfies the conditions for electronic customs declaration and other conditions as prescribed.

    Customs agent staff is Vietnamese citizen and fully satisfy the following conditions:

    • Having a college degree in economics, law or engineering or higher;
    • Have a certificate of professional customs declaration;
    • The customs authority shall issue a customs clearance agent staff’s identification number.

    Procedures of establishment a foreign-invested company providing customs agency services

    The establishment a foreign-invested company businessing customs agent service of foreign investors can be chose to establish it in two ways:

    • Establishing a foreign-invested company; or
    • Establishing a customs agent company, then foreign investors purchase stakes/ shares of Vietnamese companies.

    Notwithstanding limitation to the capital contribution ratio, foreign investors of customs agent services are required to establish a joint venture company. Therefore, the investor chooses the form of establishment according to the procedure of foreign investors contributing capital or purchasing shares in a Vietnamese company will have more advantages. Specifically:

    • The procedure to prove financial capacity is also simpler and easier.
    • Company establishment dossiers are simpler and more convenient;
    • Simple procedure for adjustment: When an enterprise only has an Enterprise Registration Certificate, it only has to be done when there is a change in company name, company address, owner information, etc. to carry out the same procedure as Vietnamese enterprises. However, foreign-invested companies still need to carry out the annual financial statement audit procedures.
    • Foreign-invested companies, even though their members are foreign investors, are not required to carry out procedures for issuance of Investment Certificates. When an enterprise does not have an investment certificate, the procedure will be reduced when there is a change in the enterprise registration contents with the state agency.
    • No obligation to report on project implementation, investment supervision reports, etc.;
    • No procedures to update investment information on the investment management system.
    • Cases in which foreign investors contribute capital or buying shares in Vietnamese company businessing customs agent services that already have a Certificate of Business Registration (even in the case of purchasing up to 99% of the company’s contributed capital) is not required to carry out the procedures for issuance of an Investment Registration Certificate.

    For your information about Procedures for the capital contribution to establish a foreign-invested company in Vietnam, kindly refer to this article or contact us.

    Customers demanding to establish a foreign-invested company businessing customs agent services, please contact Viet An Law Firm for the best support!

    Related Acticle

    Set up an intellectual property consulting company in Vietnam

    Set up an intellectual property consulting company in Vietnam

    Intellectual property is the result created by human intelligence through creative activities. Accordingly, “intellectual property” is understood as ownership of intellectual assets. Thus, what conditions must be met to establish…
    Calculating dumping margin service in Vietnam

    Calculating dumping margin service in Vietnam

    The free trade of goods and products between countries is currently taking place around the world and has become stronger after the creation of the WTO. WTO creates a fair…
    Update on the investment report in Vietnam from 2024

    Update on the investment report in Vietnam from 2024

    Sample documents and reports related to investment activities in Vietnam, investment from Vietnam to foreign countries, and investment promotion are applied according to Circular 03/2021/TT-BKHDT from April 2021 show many…
    Granting licenses to open and use foreign currency accounts abroad

    Granting licenses to open and use foreign currency accounts abroad

    Licensing to open and use foreign currency accounts abroad is an important issue that businesses need to pay attention to in the field of international investment. This is considered a…
    Establish an insurance joint stock company in Vietnam

    Establish an insurance joint stock company in Vietnam

    The need for financial protection for Vietnamese people and businesses is increasing, leading to a potential insurance market. Vietnam has issued many legal documents to manage private insurance business activities,…

    CONTACT VIET AN LAW

    Hanoi Head-office

    #3rd Floor, 125 Hoang Ngan, Hoang Ngan Plaza, Trung Hoa, Cau Giay, Hanoi, Vietnam

    info@vietanlaw.com

    Ho Chi Minh city office

    Room 04.68 vs 04.70, 4th Floor, River Gate Residence, 151 – 155 Ben Van Don Street, District 4, HCM, Viet Nam

    hcm@vietanlaw.com

    SPEAK TO OUR LAWYER

    English speaking: (+84) 9 61 67 55 66 - Lawyer Dong Van Thuc ( Alex) (Zalo, Viber, Whatsapp, Wechat)

    Vietnamese speaking: (+84) 9 33 11 33 66 - Dr. Lawyer Do Thi Thu Ha (Zalo, Viber, Whatsapp, Wechat)