Your Guide to Establishing an Import-Export Company in Vietnam: Procedures and Legal Basis

The booming import-export sector in Vietnam presents an alluring opportunity for aspiring entrepreneurs. However, navigating the legal intricacies and procedures for establishing an import-export company can be daunting. This comprehensive guide, provided by NT International Law Firm, equips you with the knowledge and resources to confidently launch your import-export venture.

Your Guide to Establishing an Import-Export Company in Vietnam: Procedures and Legal Basis

Legal Basis for an Import-Export Company:

• Enterprise Law 2020: This law serves as the foundation for establishing and operating businesses in Vietnam, including import-export companies.
• Decree 69/2018/ND-CP: This decree governs the management of foreign trade, outlining specific regulations and requirements for import-export activities.
• Relevant sectoral regulations: Depending on the specific goods or services you intend to import or export, additional regulations from relevant ministries or agencies may apply.

Charting Your Course: Procedures for Establishment:

Step 1: Building Your Foundation – Company Establishment:

• Gather Documents:
  • Application for business registration.
  • Company charter outlining your business structure and operations.
  • List of shareholders/members depending on your chosen business structure.
  • Certified copies of business registration certificate/investment certificate and personal identification documents for all members/shareholders.
  • Authorization letters (if applicable).
  • Identity cards for all individuals involved.
• Submit Documents:
  • You have two options:
    • Submit your documents directly to the Business Registration Office of the Department of Planning and Investment in the province where your company will be headquartered.
    • Submit your documents electronically via the National Electronic Business Registration Portal.
• Receive Your Business Registration Certificate:
  • After submitting a valid application, you will receive your Business Registration Certificate within 5-7 working days.

Step 2: Obtaining the Import-Export License:

• Determining License Requirement:
  • Not all goods require an import-export license. Refer to Decree 69/2018/ND-CP for a list of goods requiring a license.
  • Consult with relevant authorities for specific requirements depending on the goods or services you intend to import or export.
• Prepare Application Documents:
  • Complete the application form for a license (Form No. 01).
  • Submit a certified copy of your Business Registration Certificate/investment certificate.
  • Gather relevant papers and documents as stipulated by law depending on your specific import/export activities.
• Submit Your Application:
  • You can choose one of the following methods:
    • Submit your application directly to the Ministry or ministerial-level agency responsible for licensing your chosen import/export activities.
    • Send your application by mail to the relevant authority.
    • Submit your application electronically through the online portal of the responsible agency (if available).
• License Processing Time:
  • Expect a processing time of 10 working days from the date the authorities receive your valid application.
  • Additional time may be required if the authorities need to seek opinions from other relevant agencies.

Post-Establishment Requirements:

• Hang company sign.
• Apply for tax calculation method.
• Open a business bank account.
• Register for electronic digital signature (e-signature).
• Declare and pay license tax.
• Issue value-added invoices.
• Contribute full capital within 90 days.

Additional Points:

• Import-export registration is separate from business registration.
• Specific requirements may apply depending on the industry and product.
• Seek legal advice for accurate and timely compliance.

Practical Example: Rice Export License:

• Competent agency: Ministry of Industry and Trade.
• Documents:
  • Application (Form No. 01).
  • Business registration certificate/investment certificate.
  • Warehouse rental contract or land ownership documents.
• Submission options:
  • In person or by mail to the Ministry of Industry and Trade headquarters.
  • Online via the Electronic Information Portal.
• Processing time: 15 working days.

Conclusion:

By understanding the legal framework and following the proper procedures, you can confidently navigate the path to establishing a successful import-export company in Vietnam. Remember, seeking expert legal advice throughout the process ensures compliance and facilitates a smooth launch. With careful planning and execution, you can turn your import-export dream into reality.

NT International Law Firm is Here to Help

NT International Law Firm has addressed the question of how you can open your own import-export company. If you have any further questions or concerns regarding corporate law, please contact our law firm immediately for expert legal advice.

If you require any legal assistance, please feel free to reach out to us via phone at 090 252 4567 or through email: info@ntpartnerlawfirm.com. At NT INTERNATIONAL LAW FIRM, our team is committed to offering you prompt and personalized advice.

You also might be interested in:

• The 2015 Civil Code in English
• The 2020 Law On Enterprises in English