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Investors and investors establish wooden furniture manufacturing enterprises
Handicrafts from wood or wood products are increasingly developing and gaining a foothold in the market. It is for such reasons that foreign investors are now very interested in the furniture manufacturing industry in our country. Therefore, in order for (foreign investors) to establish a furniture manufacturing enterprise in Vietnam, it is necessary to pay attention to the following issues.
Dossiers and procedures for foreign investors establishing wooden furniture manufacturing enterprises
Investors and investors establish wooden furniture manufacturing enterprises
- Step 1: Apply for an Investment Registration Certificate on furniture production
- Step 2: Establish a foreign-invested furniture manufacturing enterprise and apply for an Enterprise Registration Certificate on wooden furniture production
- Step 3: Publish the content of business registration information on the National Business Registration Portal
- Step 4: Enterprises engrave seals and announce seal samples
The particular steps are as follow:
Step 1: Apply for an Investment Registration Certificate on furniture production
- A written request for implementation of an investment project on furniture production;
- Copy of ID card / CCCD or passport for individual investors and documents confirming legal status for institutional investors;
- The investment project proposal document includes detailed contents about the project;
- Copies of documents on financial matters of the investor;
- Documents on land use needs, site lease agreements or site use rights for the implementation of investment projects.
Applicant agency: Department of Planning and Investment
Time: For investment projects not subject to investment policy decisions: 15-20 working days from the date of receipt of complete dossiers.
Step 2: Establish a foreign-invested furniture manufacturing enterprise and apply for an Enterprise Registration Certificate on wooden furniture production
Application for enterprise registration of furniture production;
The company’s charter contains the code of furniture production;
List of company members (2-member limited liability company)/List of founding shareholders and shareholders being foreign investors (joint stock companies));
Copies of the following documents:
- CCCD/ID card, passport of individual members;
- CCCD/ID card, passport of the authorized representative;
- A copy of the Business Registration Certificate for members of foreign organizations.
Certificate of investment registration with foreign investors as prescribed;
Written authorization if the enterprise does not directly submit the application.
Filing agency: Business Registration Office
Time: 03 – 06 working days from the date of receipt of complete and valid documents
Step 3: Publish the content of business registration information on the National Business Registration Portal
Information on business registration must be published on the National Business Registration Portal within 30 days from the date of issuance of the Certificate of Business Registration. Clause 1 Article 26 of Decree 50/2016/ND-CP, in case an enterprise fails to announce or does not publish on time the stipulated enterprise registration contents on the National Business Registration Portal, such enterprise will be fined from VND 1,000,000 to VND 2,000,000.
Step 4: Enterprises engrave seals and announce seal samples
Enterprises can authorize or engrave the seal themselves and notify the Department of Planning and Investment of their company’s seal samples. Enterprises can decide for themselves the form, quantity and content of the seal but must show the name and enterprise code. After receiving the notice of the enterprise’s seal samples, the Business Registration Office will issue a Receipt to the enterprise, post the enterprise’s notice on the National Business Registration Portal and issue a notice of posting information of the enterprise’s seal samples to the enterprise.
Some codes of furniture manufacturing business lines
Foreign investors can refer to the following industry codes on furniture manufacturing business to choose the right industry for their enterprises:
- 1621: Production of plywood, veneer, plywood and other thin boards;
- 1622: Manufacture of building furniture;
- 1623: Manufacture of wooden packaging;
- 1629: Manufacture of other products from wood; producing products from bamboo, cork, straw, rice and plaited materials.
Note for investors to establish wooden furniture manufacturing enterprises
Vietnam has gold and silver forest resources, so since ancient times, people have had the habit of using resources from forests to have a more comfortable living life. People use wood from the forest to make household items such as tables and chairs, beds and cabinets; Use other plants such as bamboo, cork, sedge to make items such as hats, bags, shoes ,…
Therefore, today Vietnamese people still have the habit and preference when using materials or preparations from wood. Part of the wood products for home interior decoration are now exquisitely and beautifully designed, the other part of wood remains a durable and valuable material over time.
With a high demand for such wood products, it creates a great motivation for domestic and foreign enterprises producing wooden furniture to develop not only the domestic market but also meet export processing. Therefore, Vietnamese law does not restrict or regulate business conditions for this industry.
In addition, Vietnam’s commitments in the WTO do not stipulate investment conditions applicable to investors who establish wooden furniture manufacturing companies. Therefore, foreign investors often choose to do business in this industry. In order for foreign investors to establish wooden furniture manufacturing enterprises, they must carry out procedures according to regulations.
Siglaw is always ready to exchange and support customers with necessary information during the process of customers carrying out procedures for establishing a foreign-invested furniture manufacturing company. Please contact Siglaw Law Firm for specific advice.
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