This is the content mentioned in the Draft Decree detailing the Commercial Law regarding sale of goods and other activities directly related to sale of goods of foreign investors and foreign-invested business entities in Vietnam (the 8th).
Article table of contents
The conditions for granting business licenses to foreign investors from countries or territories participating in international treaties to which Vietnam is a member include:
- Having been granted a Certificate of Business Registration or equivalent legal documents.
- Meeting market access restrictions specified in the international treaty to which Vietnam is a member.
- Having a financial plan to carry out proposed business activities.
- Not having overdue tax debts for economic organizations with foreign investment that have been operating in Vietnam for one year or more.
- Obtaining approval from the competent authority.
In the case of foreign investors who are not from countries or territories participating in international treaties to which Vietnam is a member and have commitments to open markets or sectors that have not yet met the market opening conditions according to Vietnam's commitments in international treaties, the Ministry of Industry and Trade and the specialized management agency will consider and decide on each case based on the aforementioned conditions 1, 3, 4, and 5, as well as the following criteria:
- Provisions of relevant specialized laws.
- Sensitivity of the goods or services.
- Level of competition with domestic businesses in the registered field of operation.
- Ability to create employment opportunities for domestic labor.
In the case where foreign-invested enterprises are not required to obtain business licenses
Exemption from the procedures for obtaining a business license or a retail establishment license is applicable to foreign-invested economic organizations, which are allowed to carry out the following activities to serve the registered investment project:
Exporting, importing, consigning exports, consigning imports, and conducting on-site import-export activities of goods that are in line with the objectives and industries of the registered investment project.
- Exporting, importing, consigning exports, consigning imports, and conducting on-site import-export activities of goods that are in line with the objectives and industries of the registered investment project.
- Temporarily importing or re-exporting machinery, equipment, means of transportation, molds, exhibition and fair-related goods, raw materials, and other goods to serve the activities of the registered investment project.
- Engaging in commercial activities related to goods produced, processed, or manufactured in Vietnam by the foreign-invested entity.
- Subcontracting or accepting subcontracted goods that align with the objectives and industries of the registered investment project.
- Importing or purchasing domestic goods to supply along with the services of the registered investment project.
- Liquidating assets, goods, and raw materials related to the registered investment project through export, sale, donation, or disposal.
Concurrently, the Draft also stipulates that the following activities do not require the procedures for obtaining a business license for foreign-invested economic organizations with foreign investors from countries or territories participating in international treaties to which Vietnam is a member and have commitments to open markets, provided that they have been granted a Certificate of Investment Registration to fulfill the objectives: export, import, wholesale, logistics, commercial inspection, and related manufacturing services.
View more details at the Draft.
- Key word:
- Draft Decree
- business licenses
