Establishment of a foreign-invested study abroad counseling company

Establishment of a foreign-invested study abroad counseling company

Conditions for doing business in study abroad counseling services

Pursuant to Decree 46 in 2017 of the Government, study abroad counseling is a conditional business. Therefore, enterprises that want to do business in this industry need to carry out procedures for granting a certificate of business registration for study abroad counseling services.

At the same time, according to the provisions of Clause 1, Article 8 of the Law on Enterprises 2020, enterprises are obliged to fully meet the conditions for business investment when conducting conditional business sectors; business sectors with conditional market access for foreign investors, and make sure to maintain such conditions throughout the course of business operations.

Conditions for Educational Counsellor:

  • Have a university degree or higher;
  • Capable of using at least one foreign language at level 4 or higher according to the 6-level Foreign Language Competency Framework for Vietnam and equivalent;
  • Possess a certificate of professional training in  study abroad counseling services as prescribed by the Ministry of Education and Training.

Procedures for setting up a foreign-invested study abroad counseling company

Step 1: Carry out the procedures for applying for an Investment Registration Certificate (IRC) for an investment project;

Step 2: Carry out the procedures for applying for an Enterprise Registration Certificate (ERC);

Step 3: Carry out the procedures to apply for the Certificate of registration of study abroad counseling Service.

Dossier to establish a foreign-invested study abroad counseling company

About the application for the Investment Registration Certificate

Documents:

  • A written request for implementation of an investment project;
  • Investment project proposal document
  • An explanation of the Investor’s financial capacity;
  • An explanation of satisfaction of investment conditions for foreign investors;
  • Decision of the Investor (for the Investor being an organization);
  • Power of Attorney in case of authorizing a third party to represent investment registration procedures;

Documents provided by Investor:

*General documents:

  • A certified copy of the location lease contract or the agreement in principle of the location lease contract for project implementation;
  • A certified copy of the investment certificate or the enterprise registration certificate of the lessor – for the Investor being an organization (with real estate business);
  • A certified copy of the Construction Permit;
  • A certified copy of the certificate of land use rights (for the rental location is a house);

*Documents specific to investors being foreign organizations:

  • Consular legalization of Decision, establishment certificate of foreign organizations and enterprises;
  • Consular legalization of the Investor’s last 2 years audited financial statement or Confirmation of bank account balance of the foreign investor to prove financial capacity;
  • Certified copy of the passport of the legal representative and the representative managing the contributed capital of the foreign investor;

*Separate documents for investors being foreign individuals:

  • Certified copy of investor’s passport;
  • Notarized translation of Confirmation of Investor’s Bank account balance to prove financial capacity.

About the application for the Enterprise Registration Certificate

Documents to be drafted:

  • Business registration application form;
  • Company regulations;
  • List of members (for limited liability companies with two or more members); List of founding shareholders (for Joint Stock Company);
  • Decision of the Investor (for the Investor being an organization);
  • List of authorized representatives (for institutional investors);
  • Power of attorney in case of authorizing a third party to represent the business registration procedure;

Documents provided by Investor:

General documents:

  • Certified copy of Investment Registration Certificate;
  • Certified copy of the citizen’s identity card or passport of the legal representative of the company to be established;

Documents specific to institutional investors:

  • Consular legalization of Decision, establishment certificate of foreign organizations and enterprises;
  • Certified copy of the passport of the legal representative and the representative managing the contributed capital of the foreign investor;

Separate documents for investors being foreign individuals:

  • Certified copy of the passport of the member / shareholder contributing capital to the establishment of an enterprise being a foreign investor

About the application for the Certificate of registration of study abroad counseling Service

Documents:

  • An application form for a Certificate of registration of study abroad counseling service;
  • Power of attorney to perform the work;

Documents provided by Investor:

  • Certified copy of the investment registration certificate of the project;
  • Certified copy of Certificate of Business Registration;
  • Certified copies of documents related to personnel (Resume, CCCD, Household Book, University Degree);
  • A certified copy of the certificate of professional training in overseas study counseling of the study abroad consultant;
  • List of staff of the study abroad counseling center;
  • Summary table of data on facilities and equipment;
  • Labor contract of personnel with the center;
  • The contract of renting the center’s location and documents proving the location (Certificate of land use rights, Construction permit, documents related to fire prevention and fighting)

For a free comprehensive consultation on the establishment of a foreign-invested study abroad counseling company, please contact:

Siglaw Law Firm

Phone: (+84) 961 366 238

Email:

Headquarters: Floor 12A Sao Mai Building, 19 Le Van Luong Street, Nhan Chinh Ward, Thanh Xuan District, Hanoi City.

Southern branch: No. 99 Cong Hoa, Ward 04, Tan Binh District, Ho Chi Minh City.

Central branch: 177 Trung Nu Vuong, Hai Chau District, Da Nang City

Facebook: https://www.facebook.com/hangluatSiglaw

Expert advice on articles:

Lawyer Dung Le (Elena)

CEO of Siglaw Law Firm

Lawyer Le Dung has more than 10 years of experience providing legal advice to investors from more than 10 countries such as the US, Singapore, Canada, Denmark, Japan, Korea, China…