COUNTRY
Vietnam
VIETNAM BUSINESS LICENSE
In order to legally operate in a specific industry in Vietnam, obtaining a business licence is a mandatory requirement. The license is issued by relevant government agencies and serves as a crucial component of regulatory management. The specific licenses required will depend on the business activities conducted.
These can include licences for import-export activities, e-commerce, etc. Timely applying of the necessary licence after Vietnam company registration is crucial for commencing business operations.
HOW TO GET A BUSINESS LICENCE IN VIETNAM
A business must first prepare the necessary paperwork before applying for a license. On the other hand, each industry, each type of firm, and each sort of business licence will require a different collection of records. As a result, in order to fully prepare, the business side must precisely specify the necessary parts when preparing documentation.
Here are the general steps for obtaining necessary permits and certifications in Vietnam:
Determine the required permits and certifications
Depending on the type of business, location, and industry, different permits and certifications may be required. Some common examples include licences for specific industries, such as food or pharmaceuticals, and certificates of environmental impact assessment.
Research the relevant laws and regulations
Review the relevant laws and regulations related to the specific permits and certifications that are required for the business.
Gather the necessary information and documentation
This typically includes information about the business, such as its name, location, and type of operations, as well as any other relevant documents, such as certificates of incorporation or articles of association.
Submit the application and required documents
Submit the application for the required permits and certifications, along with the necessary information and documentation, to the relevant government agency.
Pay the required fees
Most permits and certifications require payment of a fee, which must be paid before the application can be processed.
Wait for approval
Once the application and required documents have been submitted, the government agency will review the materials and make a decision on the application.
Receive the permit or certification
If the application is approved, the government agency will issue the necessary permits and certifications.
Note: The specific requirements and procedures for obtaining necessary permits and certifications in Vietnam may vary depending on the type of business, location, and other factors. It is advisable to seek guidance from a consultant such as Relin Consultants for the most up-to-date information.
HOW MUCH DOES A BUSINESS LICENSE COST IN VIETNAM?
Vietnam business licence fee varies depending on the type of business and the location. Generally, the cost will include a registration fee and an annual fee. The registration fee is a one-time fee that is paid when the business is first registered, and the annual fee is paid each year to renew the licence.
The registration fee for a new business ranges from VND 1,500,000, and the annual fee ranges from VND 1,000,000. However, these fees may vary depending on the type of business, the location, and the size of the business.
For example, a large business may be required to pay higher fees than to acquire a Vietnam small business license. Additionally, certain types of businesses, such as those in the financial or technology sectors, may be subject to higher fees.
VIETNAM BUSINESS LICENSE RENEWAL
To renew a business licence in Vietnam, you will need to follow these steps:
- Gather all necessary documents, including your current business licence, tax registration certificate, and any other documents required by the local government.
- Submit the application for renewal to the relevant government agency, such as the Ministry of Planning and Investment or the Business Registration Office.
- Pay the renewal fee, which will vary depending on the type of business and the length of the renewal period.
- Wait for the government agency to process your application and issue a new business licence.
GET YOUR BUSINESS LICENCE IN VIETNAM WITH RELIN CONSULTANTS
Relin Consultants is a professional consulting firm that specializes in helping foreign businesses set up and operate in Vietnam. Our team will assist you with legal requirements for doing business in Vietnam, help you comply with local laws and regulations, and help you with obtaining a business license in Vietnam.
Reach out to us at Relin Consultants to learn more about our consultancy services in Vietnam.
FAQs
Can you get a Vietnam business licence online?
It is currently not possible to obtain a business licence in Vietnam entirely online. The process of obtaining a business licence in Vietnam typically involves submitting paper documents and visiting government offices in person. However, some steps of the process can be done online.
For example, some local government websites allow you to submit certain forms and pay fees online. But you will still need to physically visit the government office and submit the remaining documents, along with the original copy of the papers, and may need to wait for the government to process your application.
Do I need a business licence in Vietnam to sell online?
Yes, if you want to sell online in Vietnam, you will need to obtain a business license. All businesses operating in Vietnam, including those that operate solely online, must register and obtain a business licence from the relevant government agency. This applies to both domestic and foreign businesses.
Is getting a Vietnam business licence the only requirement for those conducting business in Vietnam?
Obtaining a business license is an important requirement for conducting business in Vietnam, but it is not the only requirement. Depending on the type of business you plan to conduct, you may also need to comply with several other legal and regulatory requirements.
Some of the other requirements that may apply to your business include the following:
- Tax registration: All businesses operating in Vietnam are required to register for VAT and pay taxes on their income.
- Labour laws: Employers must comply with Vietnam’s labour laws, which include requirements for employee contracts, minimum wages, and working conditions.
- Environmental laws: Businesses may be subject to environmental regulations, such as waste management and pollution control requirements.
- Intellectual property laws: Businesses must comply with laws related to trademarks, patents, copyrights, and trade secrets.
How long does it take to receive a Vietnam business licence?
The time it takes to receive a business licence in Vietnam can vary depending on several factors, such as the type of business, the location, and the completeness of the application. On average, it can take anywhere from 2 to 6 weeks.
When do Vietnam business licences expire? Do I have to renew them each year?
Business licences in Vietnam typically have an expiration date, and you will need to renew them before the expiration date in order to continue operating your business legally. The length of the renewal period can vary depending on the type of business and the location.
The business license is valid for between 1 to 5 years, after which it needs to be renewed. The renewal process is similar to the initial registration process and typically involves submitting paperwork and paying a fee.
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