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A JSC is defined as a legal entity which is founded by at least three shareholders. In this case, they can either be individuals or organizations which hold equal quantities of shares. As joint-owners, they are each responsible for the company’s debts and liabilities in accordance with the amount of funds they put into the company.
An LLC is a legal entity that could be formed by one or more owners who put funds into the company. For foreign investors, a limited liability company is divided further into two categories:
This is a type of LLC that is 100% owned by foreign investors, which means they have full control of the business. These foreign investors will not be obliged to share profits or discuss decision-making processes with other parties. For this type of LLC, it is mandatory for foreign investors to have 3 billion VND as paid-up capital.
Semi Foreign-Owned LLC
This is a type of LLC that can also be called as a joint venture which has at least one foreign investor. In this type of LLC, foreign investors are mandated to channel at least 30% of funds as capital. After doing so, they will be eligible for land use rights just like the general Vietnamese company owners. Owners of this type of LLC could also potentially pay lower taxes.
In this phase, you must obtain the ERC certificate that acknowledges your enterprise. It is also issued by the MPI.
In Vietnam, company seals are deemed as distinctive signatures of companies that certify the legality of their existence and the documents they produce
If you enter the market for specific products like food or beverages, you’re gonna need to obtain licenses and meet requirements set by the corresponding government institution.
Prior to finishing your company registration, you must register for a bank account which will be used for all your financial transactions as a company.
After preparing the documents you can either submit the application directly to the business registration office of the provincial Department of Planning and Investment. You could also register online at the National Business Registration Portal using a digital signature.