Establishing a Company in Vietnam A limited-liability company ( LLC )​

General information:A limited-liability company is a legal entity established by its members through capital contributions to the company. The capital contribution of each member is treated as equity (charter capital). The members of a limited-liability company are liable for the financial obligations of the limited-liability company to the extent of their capital contributions. The management structure of a limited-liability company consists of a Board of members, a Chairperson of the Board of members, a Director/General Director. Multi-member limited-liability company that has 11 members or more shall establish the Control Board. A limited-liability company established by foreign investors may take the form of either:A 100% foreign-owned company (where all members are foreign investors).A foreign-invested joint venture company between foreign investors and at least one local Vietnamese partner. A limited-liability company must not issue shares to raise capital. Foreign investors are allowed to apply for a long-term multiple entry visa, or a temporary resident card in Vietnam without requiring a work permit. A Foreign director if he/she is not an owner/member of a limited-liability company, he/she will require a work permit and must have at least 2-3 years working experience in a management position. Director/General Director of a limited-liability company must reside in Vietnam, if he/she is away for longer than 30 calendar days then he/she must appoint one authorized representative for the absence duration.1. For 100% foreign own company, in which all members are foreign investors:  Documents required:1. For 100% foreign own company, in which all members are foreign investors:

Establishing a Company in Vietnam A joint-stock company ( JSC )​

General information:A joint-stock company is a limited liability legal entity established by its founding shareholders based on their subscription for shares in the company. Under Vietnamese law, this is the only type of company that can issue shares. The charter capital of a joint-stock company is divided into shares and each founding shareholder holds a number of shares that corresponds to the amount of capital the shareholder has contributed to the company. A joint-stock company is required to have at least three shareholders. There is no limit on the maximum number of shareholders in such companies. The management of a joint-stock company comprises the general meeting of shareholders, the board of management, the chairman of the board of management, the general director and a board of supervisors (where the joint stock company has more than 10 individual shareholders, or if a corporate shareholder holds more than 50% of the shares of the joint-stock company). A joint-stock company established by foreign investors may take the form of either:A 100% foreign-owned company (where all shareholders are foreign investors).A foreign-invested joint venture company between both foreign investors and at least one local Vietnamese partner. Foreign investors are allowed to apply for a long-term multiple entry visa, or a temporary resident card in Vietnam without requiring a work permit. A Foreign director if he/she is not an owner/member of a joint-stock company, he/she will require a work permit and must have at least 2-3 years working experience in a management position. Director/General Director of a joint-stock company must reside in Vietnam, if he/she is away for longer than 30 calendar days then he/she must appoint one authorized representative for the absence duration. 1. For 100% foreign own company, in which all members are foreign investors:  DOCUMENTS REQUIRED:1. For 100% foreign own company, in which all members are foreign investors:​

Establishing a Representative Office in Vietnam ( RO ) ​

Foreign companies with business relations or investment projects in Vietnam may apply to open representative offices in Vietnam.A representative office is not an independent legal entity and may not conduct direct commercial or revenue generating activities ( like; the execution of contracts, receipt of funds, sale or purchase of goods, or provision of services). However, a representative office is permitted to:Act as a liaison office to observe the business environment;Search for trade and/or investment opportunities and partners;Supervise and assist the implementation of contracts entered into by its head office with Vietnamese partners;Act on behalf of its head office to supervise and direct the implementation of projects in Vietnam.​ Thus representative offices can provide a wide range of ancillary support to their head offices overseas. This is a very common form of presence in Vietnam for foreign companies, particularly at the first initial stages. Documents required:

Applying for a Work Permit in Vietnam ( WP ) ​

All foreigners working in Vietnam and organizations in Vietnam which employ foreign employees for more than three (3) months are required by law to obtain a work permit. This is in accordance with their Vietnamese labor contract or assignment letter, except for the following: those working for less than three months, owner of a one member limited liability company or a member of a limited liability company with two or more members, on the Board of Management, entering Vietnam to offer services, entering Vietnam to work/resolve an emergency technical or technologically complex situations and foreign lawyers. The employer is required to apply for a work permit; however, the employee is to provide all the necessary personal paperwork required for the work permit application dossier, then all these documents will be submitted to the local Labour Department in Vietnam. Once issued, the work permit remains the property of the employer and must be returned to the local Labor Department when an employee ceases employment with the employer. Work permit can be extended for a maximum duration of two years for each extension. The application to file for extension must be ready to submit at least thirty days prior to expiry date. Documents required:​

Applying for a Temporary Residence Card in Vietnam ( TRC ) ​

Temporary Residence Cards are required for long-term foreigners living in Vietnam. To obtain a Temporary Residence Card, a foreign individual must apply to the Police of Immigration Department in that he/she is currently employed in Vietnam by producing a work permit Or he/she is being an investor/shareholder of a company in Vietnam. The period of Temporary Residence Card will be depended on the length of time on the work permit or how much capital she/he contributes to the company; will be a 1 year, 02 years, 03 years or maximum 05 years residence card. The Temporary Residence Card replaces the need for an equivalent visa in the meantime the foreigner living in Vietnam. Documents required:​

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