What conditions are required to apply for a Business Registration License for foreign investors? How are the documents, order and procedures regulated?

Conditions for granting Business Licenses to foreign investors

Pursuant to Article 9 of Decree 09/2018/ND-CP stipulating conditions for granting Business Licenses as follows: after:

– In case a foreign investor belongs to a country or territory participating in an international treaty to which Vietnam is a member and commits to opening the market for goods purchase and sale activities and activities directly related to the purchase and sale of goods

+ Meets market access conditions in international treaties to which Vietnam is a member;

+ Have a financial plan to carry out the activities requested for a Business License;

+ No more overdue tax debt in case established in Vietnam for 01 year or more.

– In case the foreign investor does not belong to a country or territory participating in an international treaty to which Vietnam is a member

+ Conditions specified in Points b and c, Clause 1 of this Article;

+ Meets the following criteria:

++ In accordance with specialized laws;

++ Consistent with the level of competition of domestic enterprises in the same field of operation;

++ Ability to create jobs for domestic workers;

++ Ability and level of contribution to the state budget.

– In case business services have not been committed to market opening in international treaties to which Vietnam is a member: Conditions specified in Clause 2 of this Article.

– In case of trading goods that have not been committed to market opening in international treaties to which Vietnam is a member: Oil, lubricants; rice; road; recorded items; books, newspapers and magazines

+ Conditions specified in Clause 2 of this Article;

+ For goods that are oil and lubricants: Consider licensing import rights and wholesale distribution rights for foreign-invested economic organizations that carry out one of the following activities:

++ Production of oils and lubricants in Vietnam;

++ Manufacturing or being permitted to distribute in Vietnam machinery, equipment, and goods that use specific oils and lubricants.

+ For goods that are rice; road; recorded items; books, newspapers and magazines: Consider licensing retail distribution rights for foreign-invested economic organizations that already have retail establishments in the form of supermarkets, mini supermarkets, and convenience stores to retail at those establishments.

What does a business license application dossier for foreign investors include?

Pursuant to Article 12 of the Decree 09/2018/ND-CP stipulates the application for a Business License as follows:

– Application for Business License (Form No. 01 in the Appendix issued with this Decree).

– The explanation contains the following content:

+ Explanation of the conditions for granting the corresponding Business License according to the provisions of Article 9 of this Decree;

+ Business plan: Describes the content and methods of implementing business activities; present business plans and market development; labor needs; Evaluate the socio-economic impact and efficiency of the business plan;

+ Financial plan: Report on business performance results on the basis of the audited financial statements of the most recent year in case established in Vietnam for 01 year or more; explanation of capital, capital sources and capital mobilization plans; Attached are financial documents;

+ Business situation of buying and selling goods and activities directly related to buying and selling goods; the financial situation of the foreign-invested economic organization up to the time of application for a Business License, in the case of granting a Business License specified in Clause 6, Article 5 of this Decree.

– Documents from the tax authority proving no overdue tax debt.

– Copy: Business registration certificate; Investment registration certificate for projects selling and buying goods and activities directly related to buying and selling goods (if any).

What is the procedure for granting a Business License?

Pursuant to Article 13 of Decree 09/2018/ND-CP stipulating the procedure for granting Business Licenses as follows:

– Documents sent directly or by post or electronically (if applicable) to the Licensing Agency.

– Number of records

+ In case of granting a Business License to carry out activities specified in Point a, Clause 1, Article 5 of this Decree: 01 set;

+ In case of granting a Business License to carry out activities specified in Points b, d, dd, e, g, h and i, Clause 1, Article 5 of this Decree: 02 sets;

+ In case of granting a Business License to carry out activities specified in Point c, Clause 1, Article 5 of this Decree: 03 sets.

– Within 03 working days from the date of receiving the dossier, the Licensing Agency shall check and request amendments and supplements if the dossier is not complete and valid.

– Within 10 working days from the date of receipt of a complete and valid application, the Licensing Agency shall check the satisfaction of the corresponding conditions specified in Article 9 of this Decree.

+ In case the conditions are not met, the Licensing Agency will respond in writing and clearly state the reason;

+ In case the conditions are met

++ The Licensing agency issues a Business License to carry out the activities specified in Point a, Clause 1, Article 5 of this Decree; In case of refusal to grant a permit, there must be a written response clearly stating the reason;

++ The Licensing agency sends the dossier with a document to seek opinions from the Ministry of Industry and Trade and the industry management ministry according to the provisions of Point a or b, Clause 3, Article 8 of this Decree (Form No. 09 in the Appendix issued with this Decree).

– Within 15 days from the date of receipt of the dossier, the Ministry of Industry and Trade and the industry management ministry, based on the corresponding content specified in Article 10 of this Decree, will issue a written approval to issue a Business License; In case of refusal, there must be a written response clearly stating the reason (Form No. 10 in the Appendix issued with this Decree).

– Within 03 working days from the date of receiving the written approval from the Ministry of Industry and Trade and the industry management ministry, the Licensing Agency shall issue the Business License. In case the Ministry of Industry and Trade or the industry management ministry issues a written refusal, the Licensing Agency will respond in writing and clearly state the reason.

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