Understanding Business Registration Certificate in Vietnam

The numerous investment prospects in Vietnam are as perennial as the grass in the business world. And this is especially true for investors and aspiring entrepreneurs looking to do business in Southeast Asia. As a result, the business registration certificate in Vietnam is a must for all to understand.

Businesses have seen tremendous growth in the past months with the pandemic slowing down. Now, Vietnam can once again resume its economic robustness that started long before COVID 19. Even the World Bank has noted that Vietnam’s move to free enterprise has changed the once-upon-a-time emerging country into a minor middle-income global country.

Vietnam’s ERC or Enterprise Registration Certificate

Today, Vietnam is among the most active emerging countries in East Asia. So naturally, it attracts businesses and investments, making it imperative for people to understand the essential Vietnamese business registration options. Getting a business registration certificate in Vietnam is necessary for all planning to launch a company in Vietnam. This certificate proves that the business is formed on the record in Vietnam and duly approved by the government. In addition, if the business has foreign investment, the company needs to get an investment registration certificate ahead of the enterprise registration certificate.

ERC Requirements in Vietnam

Of course, a business to get a business registration certificate in Vietnam upon satisfying specific conditions. The government of Vietnam promulgated some regulations, which governs enterprise registration in the country. This law also allowed applications for enterprise registration online with the following prerequisites as follows:

1. Enterprise registration applicants must provide records and documents that fully contain vital information as required for written records and documents, but in electronic form. These required papers include:
   
   • Notarized legal documents, such as Passport or ID Card of the authorized representative(s) for corporations or legal representative(s) for single proprietorship;
   • Incorporation Certificate, Constitution or Charter, Company Extract on Director and Address Register, for corporations, and Passport or ID card for single proprietorship;
   • Bank certification where the account balance is equal to or higher than the charter equity or capital amount of the applying company; and,
   • MOU or Lease Contract for the company head office and landlord documentation;

2. The electronic documents’ names must be the same as the hard-copy documents but make use of digital signatures, if not scanned physical signatures;
3. As in actual documents, the applying company must submit complete and accurate business registration data on Vietnam’s enterprise registration data portal. Moreover, it must include the electronic emails and phone numbers of the applicants; and,
4. Digital signatures must validate online applications for business registration certificate in Vietnam. If not, validation must be done through the business registration (BR) accounts of those authorized to confirm applications, including their qualified people.

Vietnam’s ERC Procedure

The business registration application procedures for Vietnam’s enterprise registration certificate follow the mandates of specific law. From the application submission date for an enterprise registration certificate, the competent government authority must consider its approval within three working days.

In cases where the dossier exists invalid, the applicant is notified formally of what contents need amending or supplemented. If on hand is a denial to give a business registration certificate in Vietnam, the applicant is notified formally with its reasons.

How PREMIA TNC Can Help

PREMIA TNC helps foreign and local business people register their Vietnam companies. Our corporate launching and licensing facilities are designed based on simple and hands-on advice, with well-defined processes from the get-go to finish.

We guide venture capitalists through Vietnam’s government requirements with a team of experts. In addition, we remove the confusion in the process by providing transparency for what may otherwise be a drawn-out process of starting an enterprise in Vietnam. Hence, our commitment is to establish a Vietnamese company ready for operation. The investor doesn’t need to stay in Vietnam during the company registration or incorporation. We take pride in having a team who can prepare and send required documents for signing and mailing for our filing.

With our professional legal knowledge and experience in handling Vietnam Company Incorporation, we always strive to offer our clients one-stop services in foreign-owned company establishments. Finally, based on our expertise and extensive company insights, our team assists customers in entry advice and market research, establishment, operation, management, restructuring, organization, and implementation of their business and investment projects in Vietnam. So naturally, PREMIA TNC always seeks to understand each customer’s demands and desires to bring benefits to them in any circumstances.

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