1. Mandatory Actions for Foreign Enterprises Post-Establishment
1.1. Stamp Engraving and Disclosure of Stamp Sample
- Upon receiving the Enterprise Registration Certificate and tax code, companies are required to engrave a round legal stamp. This stamp can be self-designed but must adhere to current legal requirements. The company must disclose its stamp sample on the National Business Registration Portal.
- Timeline: 01 day According to the Law on Enterprises 2020, companies now have the right to manage and use their stamp without notifying government authorities, offering flexibility but also raising self-regulatory challenges.
1.2. Company Signboard Creation
Enterprises must set up a signboard at their headquarters containing all legally required information.
1.3. Digital Signature Purchase
A digital signature is mandatory for conducting electronic transactions with agencies like tax and social insurance authorities, and other public transactions.
1.4. Opening a Bank Account and Registering a Tax Code
– Investment Capital Account: The company must open an account with a Vietnamese bank to handle capital contributions and financial transactions.
– Tax Code Registration: The tax code is issued upon company formation, enabling the company to declare taxes such as VAT, corporate income tax (CIT), and personal income tax (PIT) if applicable.
1.5. Initial Tax Filing
Companies must prepare and submit initial tax declarations to the tax authority following the regulations.
1.6. Capital Contribution and Progress Report
– Contribution Deadline: Investors must contribute the committed capital within 90 days from the issuance of the Enterprise Registration Certificate.
– Contribution Progress Report: The company is required to report the progress of capital contribution to the Department of Planning and Investment to ensure transparency and compliance.
2. List of Sector-Specific Licenses Required for Enterprises
In regulated industries, companies are required to obtain specific licenses to legally operate. These licenses vary based on the company’s registered business field. Examples of common licenses in regulated sectors include:
2.1. Tourism and Travel Sector
Companies in tourism must acquire licenses according to their specific business activities, such as:
– Domestic Travel License: for domestic travel operators.
– International Travel License: for international travel operators.
2.2. Alcohol Business
Depending on the type of alcohol business, companies need corresponding licenses, for example:
– Retail Alcohol License: for alcohol retailers.
– Wholesale Alcohol License: for alcohol wholesalers.
– On-Premises Alcohol Consumption
License: for establishments selling alcohol for on-site consumption.
2.3. Food Safety and Product Quality Sector
For companies dealing with food safety-related products or consumer goods, various permits include:
– Food Safety Commitment Certificate – ISO 22000 Certificate for Food Safety Management Systems
– Food Safety License
– HACCP Certification for Food Quality Control Procedures
– Product Registration License for Goods Circulation
– Certificate of Free Sale (CFS) – ISO 9001:2015 Certificate for Quality Management
– Barcode Usage Certificate Key Consideration When Establishing a Foreign-Invested Company in Vietnam
Conditional Investment Sectors: Certain industries in Vietnam impose specific conditions or restrictions on foreign investment. Investors should carefully review the list of conditional investment sectors to select a suitable business area and ensure regulatory compliance.
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