Vietnam: Documents proving capital contributions and investments in a new telecommunication company

According to current regulations, the legal capital of an applicant for the license for telecommunications services is considered satisfactory if it can provide documents proving the capital contribution and investment, or the asset value in the asset statement is not smaller than the legal capital, applicable to the licenses specified in Articles 19, 20 and 21 of Decree No. 25/2011/NĐ-CP of Vietnam’s Government.

Specifically, according to Article 13 of Circular No. 12/2013/TT-BTTTT of the Ministry of Information and Communications of Vietnam, documents proving capital contributions and investments in a new telecommunication company are:

- Documents or commitment on contribution within a certain period of time made by partner (applicable to partnerships);

- Documents on the contributions of founding shareholders and common shareholders that applied to buy shares and written in the company’s charter (applicable to joint-stock companies)

- Documents or commitments on contribution within a certain period of time made by investors (applicable to joint-ventures);

- Documents on total value of capital contributed by owners or commitment on contribution within a certain period of time (applicable to single-member limited liability companies);

- Documents or commitment on contribution within a certain period of time of founding members (applicable to multi member limited liability companies);

- Documents on paid-in capital of the enterprise (applicable to private enterprises)

For the respective cases, the documents on capital contribution mentioned above:

- The contributions and investments is made in cash must be certified in writing by a bank in Vietnam of the deposit made by the founders The deposit shall be released when the enterprise is issued with the license for telecommunications services;

- If contributions and investments are made in the form of assets, the value of assets contributed must be certified by a valuation organization in Vietnam.

View more details at the Circular No. 12/2013/TT-BTTTT of the Ministry of Information and Communications of Vietnam, effective from July 01, 2013.

Thu Ba

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