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WHAT SHOULD INVESTORS DO AFTER BEING GRANTED AN INVESTMENT CERTIFICATE?
According to the provisions of law, investment projects of investors or foreign economic organizations holding 51% or more of charter capital must carry out procedures for registration of investment projects. So after being granted the Investment Registration Certificate, what procedures should foreign investors carry out next? Let’s find out with Siglaw through the article below.
- Business Registration
After being granted the Investment Registration Certificate, foreign enterprises are allowed to invest according to the lines and trades licensed in the Investment Registration Certificate. However, in order to operate legally, foreign investors, if not in the case of capital contribution, share purchase or contributed capital but a newly established enterprise, must apply for an enterprise registration certificate. After being granted an enterprise registration certificate, an economic organization established by a foreign investor may implement investment projects according to regulations.
Business dossiers to be prepared for business registration include an Application for Business Registration (Refer to the Appendix in Circular 01/2021/TT-BKHDT) and the company’s charter and some copies of other documents depending on the type of business that the foreign investor wants to establish
- Open a bank account for your business
Enterprises need to have an account to serve payments, transactions related to the company’s purchase and sale activities. In addition, opening a bank account is also convenient for businesses in tracking invoices, documents, auditing, and finalizing,… To apply to open a bank account, enterprises need to prepare originals or copies of the following documents:
- An application form for opening a current account shall be made according to the form of the bank where the account is opened
- Documents proving that the payment account opening organization is legally established and operating: Establishment decision, operation license, business registration certificate or other documents as prescribed by law
- Documents proving the status of the representative of the legal representative and the decision to appoint the chief accountant or accountant (if any) of the organization wishing to open a payment account together with a valid citizen identity card or identity card or passport
For documents in a foreign language, it is agreed with each other to translate into Vietnamese (passport and other documents in the dossier of opening a payment account are only translated at the request of competent state agencies).
- List signs
Next is to list the company’s sign located at the head office, the size does not need to be too big but must have enough information such as Business name, business address, phone number, tax code.
- Tax ID registration
A tax code is a series of 10-digit or 13-digit numbers and other characters issued by tax authorities to taxpayers for tax administration before starting production, business activities or having obligations to the state budget. Therefore, when a foreign enterprise is granted an investment registration certificate, has obtained an enterprise registration certificate and conducts production and business activities, it must fulfill the obligation to register and pay taxes, specifically, it is necessary to prepare the following documents:
- If the taxpayer registers for tax along with the enterprise registration, the tax registration dossier is the enterprise registration dossier
- If a taxpayer is an organization that registers directly with the tax authority, the dossier includes:
- Tax registration declaration
- A copy of the establishment and operation license, establishment decision, investment registration certificate or other equivalent papers.
In addition, businesses can register online with the website of the General Department of Taxation: https://thuedientu.gdt.gov.vn/
In addition to registering for a tax code, tax returns are also required as a basis for determining the obligations of enterprises paying taxes. Depending on the type of tax return (by year; type of tax declared and paid according to each occurrence; imported and exported goods), enterprises need to prepare different documents.
- Registration of electronic signatures
Finally, there is the electronic signature of the enterprise, which will have to be registered with the tax authority. The business dossier to be prepared includes: (1) Notarized copy of the business registration license; (2) Notarized copy of the corporate tax registration certificate; (3) Notarized copy of identity card/CCCD of the legal representative
Currently, digital signatures can be registered through the https://thuedientu.gdt.gov.vn/
Above is Siglaw’s advice on the work to be done after the enterprise is granted the Investment Certificate. For comprehensive advice and use of services, please contact:
Phone: (+84) 961 366 238
Email:
Headquarters: No.44/A32-NV13, Gleximco A, Le Trong Tan street, An Khanh, Hoai Duc, Ha Noi, Vietnam.
Southern branch: A9.05 BLOCK A, SkyCenter Building, 5B Pho Quang Street, Ward 2, Tan Binh District, Ho Chi Minh City, Vietnam.
Central branch: 177 Trung Nu Vuong, Hai Chau District, Da Nang City
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