In Vietnam, a signed contract is not always an enforceable one. Many foreign investors are surprised to learn that a fully negotiated and executed contract can be declared invalid by a court, simply because it failed to meet specific, overlooked, legal formalities. This critical gap between a contract’s formation (the moment of signing) and its […]
Conditions for set up business in Vietnam for providing secretarial services
Foreign entrepreneurs who want to set up business in Vietnam for providing secretarial services need to settle down and live. If an entrepreneur is living in a foreign country, he/she must have nationality from countries that are members of the WTO.
Foreign entrepreneurs need to pay attention to the following requirements when setting up a business in providing secretarial services:
- Carry out business registration according to the regulations on setting up business.
- Business license recognizes an enterprise providing secretarial services.
Type of business: an enterprise providing secretarial services may choose one of the following types of business: joint-stock company, single-member limited liability company, partnership, private company or private enterprises, etc.
Conditions for charter capital: Enterprises may register their own charter capital because the Enterprise Law does not stipulate a minimum capital level to set up business in Vietnam.
Conditions for company name: The company name is written in capital letters in Vietnamese and must not be duplicated or confused with those already present in the market. The company name is displayed at the head office, branch, representative office and printed on the papers, transaction records, publications and documents issued by the enterprise as well.
Sequence and procedures to set up business in Vietnam for providing secretarial services:
To set up business in providing secretarial services, it is necessary to prepare and submit documents at the Business Registration Office in the place where the head office is located, including:
- A valid enterprise registration application according to the prescribed form.
- Company’s Articles of Association.
- Copies of documents of the owner or legal representative: copy of identity card or citizen’s identity card, passport, copy of certificate of establishment of the company, decision to establish the company or other similar documents.
- Especially, foreign investors need to obtain an investment registration certificate as prescribed in the Investment Law and accompanying documents.
An enterprise is eligible to set up business in providing secretarial services when the following documents are presented: Secretarial service practice certificates or related certificates of personnel. Copies of the labor contracts between the enterprise and its employees who are working for the enterprise providing secretarial services. Certificate of eligibility to set up business in providing secretarial services.
Some notes for foreign employees:
Foreign employees need to have a labor contract with the enterprise and have a work permit in Vietnam issued by a competent authority according to regulations.
Employees must have good health and professional qualifications in the field of secretarial services.
Foreign employees must ensure compliance with Vietnamese labor laws, international treaties and other provisions of Labor Law.
Foreign employees are entitled to participate in compulsory social insurance according to state regulations.
To save time, avoid repeated travel for foreign entrepreneurs, Viettokin will support and accompany them throughout the process of solving arising problems about documents and procedures to set up a business Vietnam for providing secretarial services, thereby enterprises feel secure to build and develop their own business. Owning staff of many years of experience in Vietnam, Viettokin offers quality services worthy of the trust of partners.
