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ESTABLISHING A SPECIALIZED CLINIC BY FOREIGN INVESTORS
Investing in medical examination and treatment facilities in Vietnam is one of the industries and professions foreign investors are tending to implement a lot in the current period. Due to the increasing quality of life, people are also paying more attention to the need for medical examination and treatment. So what are the conditions for establishing a specialized clinic for foreign investors? How the procedure is done, please read through the article below.
Investment conditions for establishing specialized medical clinics for foreign investors
First, about market access conditions for the medical examination and treatment industry in Vietnam
- The minimum investment capital for a specialized treatment facility is 200000 USD;
- There is no limit on capital ownership in Vietnam;
Secondly, conditions need to be met under Vietnamese law
Condition 1, the person who is professionally responsible for having full practice licenses and certificates to open specialized medical clinics.
For a person with professional responsibility to be granted a certificate to practice as a doctor, the following conditions are required:
- Having one of the diplomas and certificates suitable to the forms of medical examination practice (Professional to medical diplomas granted or recognized in Vietnam; Medical certificate; Certificate with heirloom remedies or cures);
- Have written confirmation of the practice process (except in the case of physicians, people with remedies or heirloom cures);
- Have a certificate of fitness adequacy;
- Not in the case of being banned from practicing.
Condition 2, for managers, responsible for specialized medical clinics must be persons with full practicing certificates as prescribed;
- For foreign doctors, it is necessary to be proficient in Vietnamese or have qualified interpreters as required during medical examinations.
- Facilities, business locations, medical equipment: it is necessary to meet the requirements of the Ministry of Health for specialized medical clinics with foreign elements.
Investment process of opening specialized medical clinics of foreign investors
Two main directions are often chosen by investors when investing in establishing specialized clinics in Vietnam:
Established a new 100% foreign-owned company.
In this direction, the investor will take the following steps:
Step 1: Apply for an Investment Registration Certificate at the Department of Planning and Investment of the province/city where the investor plans to implement the specialized medical examination and treatment project;
Processing time: 15-20 working days
Step 2: After obtaining the Investment Registration Certificate, investors establish an enterprise through the procedures for applying for an Enterprise Registration Certificate to register a specialized clinic business enterprise at the Business Registration Office – Department of Planning and Investment where the enterprise is expected to be located.
Processing time: 07-10 working days
Step 3: Apply for an operation license for a specialized clinic
Establish a 100% Vietnamese-owned company with specialized medical examination and treatment, after which investors contribute capital through procedures for registration of capital contribution, share purchase, and purchase of contributed capital.
Steps to follow:
Step 1: Establish a Vietnamese company operating specialized medical clinics
Processing time: 05-07 working days;
Step 2: Carry out procedures for capital contribution, share purchase, and purchase of contributed capital so that foreign investors can own capital and conduct specialized clinic business in Vietnam
Of the two directions mentioned above, the 2nd direction will be simpler and more optimal in terms of procedures and costs than the first direction, because investors do not have to go through the procedures for issuance of investment registration certificates. Moreover, the establishment of a Vietnamese company will also be simpler than the establishment of a company with FDI.
- Regarding dossiers and procedures for issuance of operation licenses for specialized clinics
A sub-license to operate a specialty clinic is a mandatory condition for foreign investors to be eligible to operate specialized clinics under the provisions of Vietnamese law.
The dossier includes:
- An application for a license to operate a specialty clinic;
- A certificated copy of the enterprise registration certification;
- A certificated copy of the practicing certificate of the person with professional responsibility of the clinic;
- Photo of the signboard of the clinic and the specialist rooms;
- A presentation of the equipment and facilities of the clinic;
- A written declaration of the clinic’s personnel list;
- The written commitment to comply with regulations on medical examination and treatment prices of the clinic.
Time: 15 working days from the date of receipt of complete and valid documents
Above is all the advice of Siglaw Law Firm on procedures for opening specialized clinics for foreign investors.
Phone: (+84) 961 366 238
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