Viet Nam - A Guide for Business and Investment - asean-korea centre

PART IV. INVESTMENT PROCEDURE3. Licensing ProcedureDepending on the size and the sector of investment,different licensing and registration procedures willbe applied:– Business Registration;– Investment Registration; or– Investment EvaluationInvestors must follow different licensing and registrationsteps depending on the size and the sectorof investment.Business Registration:Small domestic enterprises, whose investment is lessthan VND15 billion (approx. US$945,000) not fallingwithin conditional investment sectors (as describedbelow) are subject to business registration.However, they are subject to the Investment Registrationin the event (i) they fall within a conditionalsector, or (ii) if they wish to apply for investment incentivesrecorded in their license.Investment RegistrationFDI projects with the total invested capital of lessthan VND300 million (approx. US$19 million) whichdo not fall within conditional sectors, require registrationof investment and issuance of an investment certificate.The investment certificate also serves as thebusiness registration of a corporate entity.Domestic invested projects with the total investedcapital of between VND15-300 billion (approx. US$19million) are also subject to this registration procedure.Local investors tend to set up their corporate entityseparately and then file for registration of any projectwithout receiving an investment certificate. Enterprisescan register additional investment projects withoutthe need to create a legal entityInvestmentCertificateFDI projects