Foreign investment in vietnam’s restaurant company
Restaurant is a type of business that provides food and beverages to earn profits. Due to the fact that eating is a essential part of human life, restaurant never becomes an obsolete business. In addition, culture intergration has made the Vietnamese people’s needs of food more diversified, so foreign investors see hugh potential of investment in company operating multicultural restaurants such as Thailand, Japan, India, South Korea, America…
Before contributing money to any company, foreign investors should learn about legal regulations. This article provides some information about these procedures as following:
The conditions that foreign investors have to fulfill:
The investor’s charter capital: no limit, which means foreign investor can hold 100% charter capital of company;
The form of investment, operating scope, Vietnamese partners, and other aspects are conformable with the international agreements to which the Socialist Republic of Vietnam is a signatory:
On the form of investment: contribute capital, buy shares or capital contributes of the restaurant companies.
Restaurant service is a type of conditional business lines in Vietnam, so foreign investors will have to register for the contribution.
An application for registration of capital contribution or purchase of shares/capital contribution:
A written for registration of capital contribution or purchase of shares/capital contributions, which specify information about the business organization to which investment is made; the holding of the foreign investor after making investment;
A copy of the ID card or passport (if the investor is an individual); a copy of the Certificate of establishment or an equivalent paper that certifies the legal status of the investor (if the investor is an organization);
A procuration or service contract (in case company’s legal presentative does not directly do the formality to file and receive the result).
Procedures for registration of capital contribution or purchase of shares/capital contributions:
The investor shall submit the application prescribed above at the Service of Planning and Investment of the province where the headquarter of the business organization is situated;
If the contribution of capital, purchase of shares/capital contributions satisfies the conditions of the Law on Investment 2014, the Service of Planning and Investment shall send a written notification to the investor within 15 days from the day on which the satisfactory application is received. If conditions are not satisfied, the Service of Planning and Investment shall notify the investor in writing and provide explanation.
After receiving the permit, foreigners shall contribute capital to the restaurant company. The company receiving the capital contribution will carry out procedures for changing its members/shareholders in accordance with the law. But if foreign investors wish to contribute capital to establish a foreign-invested the restaurant company, the implementation procedure will be: : Apply for Investment Registration Certificate Establish an enterprise (with registration for supply food and beverage service) Apply for other Sub-licenses (Certificate of Food Hygiene and Safety, Fire prevention and fighting approval certificate…)
All procedures related to foreign investors to contribute capital to Vietnam’s restaurant companies, please contact the Viet An Law Firm for detailed information.
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