Establishment of foreign- invested technical consulting company in Vietnam

Technical consulting service is one of the business services that Vietnam is committed to opening up to allow foreign investors to participate in providing services in Vietnam.

Persuant to:

• Vietnam’s WTO Commitments;
• Asean Framework Agreement on services ( AFAS);
• Free trade agreements are signed by Vietnam ( FTAs)

Investment conditions:

• WTO, FTAs, AFAS: None, except for Foreign companies have to be juridical persons of a WTO Member and others FTAs.
• The supply of services related to topographical, geotechnical, hydro geological and environmental surveys and technical surveys for urban-rural development planning, sectoral development planning are subject to the authorization of the Government of Viet Nam
• The Law of Vietnam: No investment conditions apply to foreign investors.

Forms of investment: Establishment of foreign- invested technical consulting companies in Vietnam ( establishment of new companies with 1 percent to 100 percent foreign investment capital).

Investment procedures:

• If foreign investors and Vietnamese party contribute capital to establish company, the procedures shall be carried out as follows.

Step 1: Establishment of  Vietnamese companies which have registered technical consulting business activities. The time for establishment of a company within 6 to 8 days  including procedures for issuing the certificate of business registration, the stamp carving and making an announcement using their stamp.

Step 2: Tranfer of capital contribution to foreign investors. Foreign investors need to carry out procedures for purchase of shares or capital contributions of Vietnamese companies at investment registrar within 15 to 25 days.

Dossier shall include the following papers:

• Written request for registration of capital contribution or shares purchase or portion of capital contribution

Copy of the people’s identity card, ID card or passport in the case of investors being an individual; copy of the incorporation certificate or other equivalent documents certifying the legal status in the case of investors being an organization;

• Power of attorney to carry out procedures for an individual/ an organization
• If foreign investor establish wholly foreign – owned technical consulting company in Vietnam. Foreign investor carry out procedures for issuing the certificate of investment registration, then establishment of company -issuing the certificate of business registration

Step 1: Issuing the certificate of investment registration at Investment registration agency

• A written proposal for implementation of the investment project;
• A copy of the identify card or passport, for individual investors;
• A copy of the establishment decision or an equivalent document certifying the legal status, for institutional investors;
• Proposals for the investment project, covering: the investor implementing the project, investment objectives and scope, investment capital and capital raising plan; the project’s location, duration, investment schedule and labor demand, investment incentives, and assessment of the project’s socio-economic impacts and benefits;
• A copy of one of the following documents: the investor’s financial statement of the last 2 years; financial support commitment of the parent company and of a financial institution; guarantee for the investor’s financial capacity; and document explaining the investor’s financial capacity;
• Proposals on land use; in case the investor does not propose the State to allocate or lease land or to permit change of land use purposes, the investor shall submit a copy of the site lease agreement or another document certifying that the investor has the rights to use the site used for project implementation;
• Explanations about use of technologies, for the projects using technology on the list of technologies limited to transfer;

Step 2: After being issuied the certificate of investment registration, investor shall establish company, issuing the certificate of business registration at the business registration agency. then, company carry out publishing their notices of establishment, the stamp carving and making an announcement using their stamp in National enterprise registration information portal