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5 Steps Guide for Business Registration in Vietnam

Business registration in Vietnam is a required step for any entity engaging in commercial activities. The process starts with submitting an application to the Department of Planning and Investment and is regulated by the Business Law and related decrees.<br>Learn more: https://antlawyers.vn/update/business-registration-in-vietnam-guide.html

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5 Steps Guide for Business Registration in Vietnam

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  1. 5 Steps Guide for Business Registration in Vietnam

  2. Step 1: Pre-Registration Requirements Before registering a business in Vietnam, foreign investors must secure approval for their investment project. This requires obtaining an Investment Registration Certificate (IRC), a crucial initial step in the registration process. The timeframe for receiving the IRC may vary depending on the specifics of the project and regulatory requirements.

  3. Step 2: Online Business Registration Application After obtaining investment approval, entrepreneurs can register their business online in Vietnam by submitting key details, including the business name, address, type, scope, legal representatives, and capital information. This application serves as the foundation of the registration process and is usually reviewed within 10 days.

  4. Step 3: Certificate of Business Registration After submitting the online application, investors must apply for the Business Registration Certificate (BRC) in Vietnam. This certificate officially establishes the legal status of the business. Typically, it is issued within three days after all required documents have been submitted.

  5. Step 4: Post-Registration Procedures After registration, the newly established business must publicly announce its formation and pay any applicable fees. Additionally, as part of the Vietnam business registration process, the company is required to obtain a tax identification number and contribute to the compulsory social insurance fund.

  6. Step 5: Compliance and Opening of Bank Accounts Once the business registration in Vietnam is complete, the company must open a bank account under its name and ensure that all financial transactions comply with Vietnamese regulations. The processing time may vary depending on the selected bank.

  7. Always consider the timeframe for each step of business registration in Vietnam to plan effectively and ensure a smooth start to your business venture.

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