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Investment incentives are one of the policies to help Vietnam develop its economy, attracting businesses, especially foreign ones (Korea, Japan, USA, China, Singapore, …) to Vietnam. over the years. So what are the basic investment incentive policies, how are the procedures in Vietnam, inco Minh Anh Law firm will summarize for interested customers.
Pursuant to the provisions of Clause 1, Article 15 of the Investment Law 2020 , the form of investment incentives includes:
Corporate income tax incentives, including the application of a lower corporate income tax rate than the normal tax rate for a definite term or for the entire duration of the investment project; tax exemption, tax reduction and other incentives in accordance with the law on corporate income tax (for example, a 2-year exemption, a 50% reduction in the next 4 years when investing in a new project in an industrial park, export processing zones and economic zones in Vietnam);
Exemption from import tax on goods imported to create fixed assets; raw materials, supplies and components imported for production in accordance with the law on export tax and import tax (for example, for an EP project in an export processing zone in Vietnam);
Exemption or reduction of land use levy, land rent, and land use tax (for example, for projects in mountainous areas, poor areas, with difficult economic conditions, to help develop local infrastructure;
Depreciation is fast, increasing the deductible expense when calculating taxable income (for example, for projects with high and advanced technology content). Read More
Registration form Industrial Design (KDCN) form No. 03-KDCN in Appendix A Circular 01/2007/TT-BKHCN;
Set of industrial design photos (top, bottom, left, right, front, back (06 sets)
Description of industrial design;
Contract or power of attorney
Proof of payment of fees and charges.
Industrial design registration applications are processed at the NOIP in the following general order:
Formal assessment: 01 month
Announcement of valid application: 2 months Read More
Step 1: Consultation
Free (online): For customer exchanges about needs, purposes, time, form, type of business
Fees (in h): charges for exchanges related to tax calculation methods, strategies, business information,….
Step 2: Make a profile
Law Firm: will send the application form and complete the application in accordance with the law of Vietnam (within 01-02 days)
Customers provide information and related documents
Step 3: Sign the contract and submit the application
The implementation time is in accordance with the provisions of Vietnamese law
Representing clients, editing records according to objective requirements
Step 4: Get the result
Get the results, liquidate the Contract
Note: depending on the type of service, the nature of the profile, we provide the most reliable service to customers
For a quote and advice by a specific lawyer, please contact: 0982674857 – Lawyer Hoa
email: [email protected];
INCO MINH ANH would like to thank customers!
According to the Law on Investment 2014 coming into effect, according to the provisions of the “Law on Investment” 2014, the process of “establishing a foreign-owned company” is as follows:
Step 1. Perform the procedures for issuance of the Investment Registration Certificate before carrying out the procedures for establishing an FDI enterprise
Investors declare online information about investment projects at the National Information System on Foreign Investment at the address: gov.vn or Dautunuocngoai.gov.vn and get the declaration code online. Within 15 days from the date of online application declaration,
- A written request for implementation of an investment project;
- For individual investors: Copy of identity card, identity card or passport
- For institutional investors: copy of Certificate of Establishment or other equivalent document certifying legal status;
The investment project proposal includes the following contents: investor implementing the project, investment objectives, investment scale, investment capital and capital mobilization plan, location, duration, and investment schedule. , demand for labor, proposal for investment incentives, assessment of the project’s socio-economic impact and efficiency;
- Copy of one of the following documents:
- The investor’s financial statements for the last 2 years;
- Commitment to financial support of the parent company;
- Commitment to financial support of financial institutions;
- Guarantee on the financial capacity of the investor;
- Documents explaining the financial capacity of the investor; Read More
In order to improve efficiency and investment cooperation, in line with planning and development orientation of key sectors and areas on the basis of ensuring security, national defense and sustainable development and environmental protection in Vietnam, The Government of Vietnam has promulgated the Investment Law 2020, officially effective from January 1, 2021 with many provisions to encourage the development of investment projects that have a great impact on Vietnam’s socio-economic development and attract foreign investors. Specifically, Article 20 of the Law on Investment 2020 provides for the first time the form of special investment incentives and support with the following contents:
Firstly, about the subjects entitled to special investment incentives and support
“Investment incentives” are understood as beneficial policies given to investors by the State when investors have investment activities in industries and areas encouraged by the State.
“Investment support” is a measure that the State creates opportunities for investors to enjoy when certain conditions are met in order to attract investment.
Accordingly, group of subjects entitled to special investment incentives and support in the investment law 2020 include:
The beneficiaries of special investment incentives and support belong to the group of subjects with investment projects that have a great impact on the socio-economic development of the country. These investment projects are specified in Clauses 2 and 6, Article 20 of the Law on Investment 2020, as follows:
New establishment investment projects (including the expansion of such newly established projects) innovation centers, research and development centers with total investment capital of 3,000 billion VND or more. currently disbursing at least VND 1,000 billion within 03 years from the date of issuance of the Investment Registration Certificate or approval of the investment policy; Read More
In details, to unify the application of the new import tariffs from 01/01/2018, the Government has just drafted the draft Decree stipulating the special preferential import tariff to implement the ASEAN Free Trade Agreement, ASEAN-Korea, ASEAN-Japan, ASEAN-China, ASEAN-India, ASEAN-Australia-New Zealand
Including the following Draft of Decrees:
- Decree on Promulgation of Vietnam’s Special Preferential Import Tariff for the Implementation of the ASEAN Trade in Goods Agreement 2018-2022
The Ministry of Industry and Trade announced a reduction of 675 conditions for investment and business
On 20/9/2017, Minister of Industry and Trade Tran Tuan Anh signed the Decision No. 3610a / QD-BCT promulgating the plan of reducing and simplifying the investment condition and business in the field of state management of the Ministry of Industry and Trade for the period 2017 – 2018 Read More
Activity, Business service, Consult Enterprise, Establish, Investment & Consulting, Investment advisory service, Service
Under the Commercial Law, Korean traders can open their representative offices and branches in Vietnam and also establish Korean investment-funded enterprises in Vietnam. Then the Ministry of Planning and Investment is responsible for managing the issuance of licenses to allow Korean traders to invest in Vietnam. The Ministry of Industry and Trade is responsible for the issuance of licenses of establishing representative offices and branches of Korean traders in Vietnam.
Representative offices of Korean traders are not authorized to perform direct profitable business in Vietnam but carry out trade promotion activities within the constraints of the Law only.
Branches of Korean traders in Vietnam are allowed to (i) perform goods’ trading business and other commercial activities in accordance with their establishment licenses under the laws of Vietnam, and (ii) open accounts in Vietnam and transfer their profits abroad.
Decree 72/2006/ND-CP details Commercial Law regarding the establishment, operation, rights and obligations of Vietnam-based representative offices and branches of Korean traders who specialize in goods’ sale and purchase and activities directly related to goods’ sale and purchase. Representative offices and branches of Korean-invested enterprises established in Vietnam shall not be governed by this Decree. Read More
trustconsulting (“Inco Minh Anh”) would like to send the most respectful greetings to the Value Investors.
Based on our understanding of your needs and our experience from previous engagements, we envisage our scope of services will include the following:
Inco Minh Anh Co., Ltd’s performance of the services under this engagement shall be based on the information/documents provided by the Company, as well as the prevailing Vietnamese taxation, accounting, financial and other relevant laws and regulations. However, it should be appreciated that Vietnamese laws and regulations are subject to frequent changes, both prospectively and retrospectively. Unless special arrangements are made, the services provided under this engagement will not be updated to take account of subsequent changes to the tax, accounting, financial and other relevant laws, regulations, rulings issued and interpretation/practices adopted by the relevant Vietnamese governing bodies.
1. OUR SCOPE OF SERVICES
From the date of coming into effect of Vietnam Investment Law 2014, pursuant to its provisions, the process of establishing a company with 100% foreign capital shall be as follows: Read More