How to Set up a Joint-Stock Company in Vietnam in 2023?

 

Joint-stock company is a type of enterprise recognized by Vietnam law, besides other types being limited liability company, partnership and private enterprise. A joint-stock company has legal status from the date of issuance of the Certificate of Business Registration by Vietnam authority. It is not suitable for all investors to set up a joint-stock company in Vietnam. Therefore, it is important to consult with corporate lawyers in Vietnam to learn the advantage of different forms of companies to be set up in Vietnam for the efficient management and purpose of the owner.

Joint-stock company can issue shares

According to the definition of the Law on Enterprises, a joint-stock company is an enterprise whose charter capital is divided into equal parts called shares. Shareholders of a joint-stock company can be organizations or individuals, and the minimum number of shareholders of the company is 03 people.

There is no limit on the maximum number of shareholders, so it will be convenient for the company when it wishes to expand its business on a larger scale. In addition, shareholders will only be liable for debts and other property obligations of the enterprise to the extent of the amount of capital contributed to the enterprise.

This is an advantage of this type of business because the level of risk that shareholders have to bear. In particular, joint-stock companies have the right to issue shares, bonds and other securities to raise capital, which is a feature that other types of businesses do not have.

Procedure to set up a joint-stock company in Vietnam

The business owner can submit by himself or authorize another individual/organization or a law firm in Vietnam to submit a set of documents to the Business Registration Office where the head office is intended, including:

1.An application for enterprise registration;

2.The company’s charter;

3.List of founding shareholders and list of shareholders being foreign investors;

4.Copies of the following papers:

a) Legal papers of the individual for the legal representative of the enterprise;

b) Personal legal papers for company members, founding shareholders, shareholders being foreign investors who are individuals; Legal papers of the organization for members, founding shareholders, shareholders being foreign investors being organizations; Legal documents of individuals for authorized representatives of members, founding shareholders, shareholders being foreign investors being organizations and documents on appointment of authorized representatives.

For members and shareholders being foreign organizations, copies of legal papers of the organization must be notarized and consularly legalized in Vietnam;

c) Investment registration certificate, in case the enterprise is established or participated in the establishment by a foreign investor or a foreign-invested economic organization in accordance with the provisions of the Investment Law and other legal documents; implementation manual.

How long it takes to set up a joint-stock company in Vietnam?

The processing time will be 03 working days from the date the Business Registration Office receives the valid application.

Readmore: https://lawyersindanangvietnam.blogspot.com/2024/01/how-to-set-up-joint-stock-company-in.html

Foreign Direct Investment from CPTPP | ANT Consulting

Still familiar investors, but with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) expected to come into effect by the end of 2018 and approved by the National Assembly on November 12th, there will be a greater and more quality flow of capital poured into Vietnam.

Two of the large foreign direct investment (FDI) projects registered to invest in Vietnam since the beginning of the year are owned by investors from 11 CPTPP countries. It is the 4.138 billion USD Smart City project of the joint venture between Sumitomo (Japan) and BRG (Vietnam), or the Laguna project register to increase the investment capital by 1.12 billion USD from Banyan Tree (Singapore).

There are also several projects such as Hanbaram Wind Power Plant (150 million USD), Ramatex Nam Dinh Textile and Apparel Factory (80 million USD) of Singaporean investor, Ykk Ha Nam Ykk factory project (80 million USD) of Japanese investors…

In fact, without CPTPP, investment capital from Japan, Singapore, Malaysia… still poured into Vietnam. They are the leading investment partners of Vietnam in the last three decades of FDI attraction.

According to data from the Foreign Investment Agency (Ministry of Planning and Investment), accumulated up to now, Japanese investors have invested in Vietnam over 56.2 billion USD, this figure of Singaporean investors is 46.2 billion USD, Malaysia is 12.5 billion USD, Canada is 5 billion USD, Australia is nearly 1.86 billion USD, Brunei is more than 1 billion USD…

Currently, out of 11 CPTPP members, all members have invested in Vietnam, except Peru. In total, the CPTPP members have invested in Vietnam of about 123 billion USD, accounting for nearly 37% of total registered FDI in Vietnam over the last 3 decades. This is not a small figure, indicating that the investment of CPTPP members is very significant for Vietnam’s FDI attraction.

The CPTTP will create favorable conditions for Vietnam to attract investment capital from other member countries, especially those countries that do not have FTA agreements with Vietnam, such as Canada and Mexico. The reason is that, this agreement will promote trade cooperation, in which trade is associated with investment. On the other hand, this is also an opportunity for Vietnamese enterprises, especially large corporations, to seek investment markets in other member countries.

Moreover, once the plans to invite Thailand, Korea and the UK join the CPTPP successfully, the opportunities for trade and investment cooperation in the region will be even greater. That will bring more benefits to Vietnam.

Vietnam – Singapore Industrial Park Company Limited (VSIP) Surveyed Investment in Quang Tri | ANT Consulting

 Chairman of Quang Tri Provincial People’s Committee, Mr Nguyen Duc Chinh just had a meeting with the delegation of Vietnam – Singapore Industrial Park Limited Company (VSIP) led by Mr Anthony Tan, Deputy General Director of VSIP, representing VSIP (Singapore) – Amata (Thailand) – Sumitomo (Japan) as the leader.

On this occasion, Mr Anthony Tan, Deputy General Director of VSIP informed the leaders of Quang Tri province about the project of developing industrial parks and urban areas in VSIP at Quang Tri. According to representative of VSIP, currently the joint venture of investors VSIP – Sumitomo – Amata has selected contractors to survey the terrain and geology of the regions and soon have results to report to the Provincial People’s Committee.

On behalf of the provincial leaders, Chairman of Quang Tri Provincial People’s Committee thanked the delegation of VSIP – Sumitomo – Amata Joint Venture investors for visiting Quang Tri province. At the same time, in 2019, Quang Tri province will celebrate the 30th anniversary of the re-establishment of the province. Therefore, the provincial leaders have directed the branches and authorities to make efforts to work together with investors to start or inaugurate projects to celebrate this important event.

Regarding the investment plan for the infrastructure development project of industrial parks and urban areas in Quang Tri, Chairman of Quang Tri provincial People’s Committee wishes that the join venture of VSIP (Singapore) – Amata (Thailand) – Sumitomo (Japan Version) makes more efforts to start the project as soon as possible.

Danang Boosted the Attraction of Foreign Investment in 2019 | ANT Consulting

Danang is known as a tourist city in Vietnam, in many recent years, because of the improvement of investment policies to attract foreign investors in many areas of investment of the city, the city has many positive result on the economy and society in 2018.

The socio-economic situation of Danang City in 2018 continued to develop with 9 major economic indicators, all growing well, of which 6/9 targets were achieved and exceeded. Total production in the area are estimated to increase by 7.86% compared to 2017. Attracting domestic investment has achieved positive results, granted investment policy decisions for 6 domestic investment projects with total investment of VND 6,340.6 billion; new grant of business registration certificate increased 8.6% and increased 6.2% in capital; attracting foreign investment of 117 new projects with total capital of 153.6 million USD, increasing 2 times compared to 2017. The total development investment capital in the city is estimated at 39,000 billion, up 8.2% compared with 2017 (increased by 6-7%).

Accordingly, in 2019 Da Nang continued to review, adjust and promulgate mechanisms and policies to improve the investment environment, focus resources on infrastructure construction and create land for investment needs of enterprises, attracting reputable investors, with capability in the field of manufacturing and assembling products with high added value content.

In order to carry out the year to continue attracting investment, Da Nang aims to strongly attract big and strategic economic groups into 5 key areas to set up business in Da Nang: Tourism, high quality services; seaports and aviation associated with logistics services; high-tech industry; information technology industry associated with digital economy; High-tech, clean agriculture.

Da Nang continued to attract foreign investment from many different countries such as Korea, Japan, Singapore, the United States, … The promotion of investing in Da Nang in 2019 will help Danang become a developed city, creating the best conditions for domestic and foreign investors to make investments that bring high economic efficiency for investors and the socio-economic situation of the city.