Set up a company for skydiving operation business in Vietnam

Your business in skydiving of adventurous sport. Currently, this service has not been committed to open investment by Vietnam to foreign investors.

Therefore, when registering business for foreign investment in Vietnam, it is necessary to ask Vietnam government’s investment policy : the Ministry of Planning and Investment, the Ministry of Culture, Sports, and Tourism.

Regarding foreign ownership ratio: There is no regulation, however, according to WTO commitments on investment in entertainment services, the ratio of foreign capital is 49% ( According to Vietnam, UK and Australia also are the member of WTO)

Legal groups:

• WTO – Working Party on the accession of Viet Nam
• Vietnam investment law 2020
• Vietnam enterprise law 2020
• Physical training and sports law 2018
• Decree 168/2017/ND-CP
• Decree 36/2019/ND-CP

Implementation process:

Step 1: Investment certificates;

Step 2: Issuing business registration certificates;

Step 3: Granting Certificate of eligibility for sports business;

Step 4: Licensing for skydiving activities;

Business conditions for an adventure sports business in Vietnam, should follow up:

Enterprises operate in sports activities on the list of adventure sports activities prescribed by the Minister of Culture, Sports and Tourism must satisfy the following conditions:

1. 1. Having enough professional staff as prescribed, including:
2. a) Sports training instructors; Sports training instructors must satisfy one of the following conditions:

• Be a coach or athlete with level 2 ( Under the Vietnam Sport Law) or higher or equivalent by registered sports activities;
• Having a degree in physical training and sport from the intermediate level or higher following the registered sports activities;
• To receive professional training in sports according to regulations of the Minister of Culture, Sports and Tourism.

1. b) Lifeguard;
2. c) Permanent medical staff or written agreement with the nearest medical facility about medical staff to give first aid and emergency aid to people participating in extreme sports in case of need.
3. Sports facilities and equipment are available:

Sports businesses must have sports facilities and equipment that meet the national technical regulations promulgated by the Minister of Culture, Sports and Tourism.

Attention:

According to Clause 1 Article 8 of Decree 168/2017 / ND-CP:

 “The tourism product is at risk of affecting the life and health of tourists when having one or some of the following activities: Paragliding, hot air ballooning; parachute; Swing on a rope for a high adventure.”

– Regarding safety measures when trading tourist products that risk affecting the lives and health of tourists:

+ There are warnings and indications on climatic conditions, weather, health, and related factors when providing tourism products that risk affecting the lives and health of tourists;

+ Having a rescue and rescue plan; arrange a force to rescue tourists and intervene, handle and promptly respond to incidents, accidents, and risks; maintaining and ensuring communication with tourists throughout the product supply period;

+ Arranging and using coaches, technicians, and guides with appropriate expertise;

+ Disseminate safety regulations for tourists; guide technical operations to tourists before delivering a tourism product;

+ Provide, guide, and supervise the use of equipment and support tools according to regulations and standards, ensuring safety for tourists.

– Responsibility of the enterprise:

+ Notify in writing to the Department of Tourism, the Department of Culture, Sports and Tourism where the tourism product business is organized at least 15 days before starting the business;

+ Using services provided by organizations or individuals on the list of organizations and individuals that fully satisfy the safety measures provided for tourists in case they do not directly trade these tourism products…

>>> Thus: registration and operation procedures are very complicated and difficult, to operate the skydiving service, it is necessary to meet all the conditions and grant all of the above licenses.

>>> Please check the above content, if you need more detailed advice, please provide more information about the location of investment, your capital source, and your ability to meet business conditions. We will be based on the details you provide for advice for set up company in Vietnam.