Foreign-invested economic organizations, when looking to the Vietnamese market for investment, cannot ignore the retail market, because the retail market in Vietnam is very potential and attractive. To carry out retail activities under Vietnamese law, investors need to carry out procedures for applying for a retail business license and a retail establishment license.
LEGAL BASIS
– Commercial Law 2005;
– Decree 09/2018/ND-CP issued on January 15, 2018, detailing the Commercial Law and the Law on Foreign Trade Management on goods purchase and sale activities and activities directly related to purchasing and sale. of foreign investors and foreign-invested economic organizations in Vietnam.
– Circular 34/2013/TT-BCT announcing the roadmap for implementation of goods trading activities and activities directly related to goods purchase and sale of foreign-invested enterprises in Vietnam, approved by the Minister of Industry and Trade. promulgated by Industry and Trade;
CONDITIONS
In case a foreign investor belongs to a country or territory that is a contracting party to an international treaty to which Vietnam is a contracting party, there is a commitment to open the market for goods trading and activities directly related to sales of goods
a) Satisfy the conditions on market access in international treaties to which Vietnam is a contracting party;
b) Having a financial plan to carry out the activities requested for a business license;
c) No more overdue tax debt in case it has been established in Vietnam for 01 year or more.
In case the foreign investor does not belong to a country or territory participating in an international treaty to which Vietnam is a contracting party
a) Having a financial plan to carry out the activities requested for a business license; No more overdue tax debt in case it has been established in Vietnam for 01 year or more.
b) Meet the following criteria:
– Comply with the provisions of specialized laws;
– Matching the level of competition of domestic enterprises in the same field of operation;
– Ability to create jobs for domestic workers;
– Ability and level of contribution to the state budget.
In case business services have not been committed to market opening in international treaties to which Vietnam is a contracting party: the same conditions as specified in Clause 2.
In case of trading goods that have not been committed to market opening in international treaties to which Vietnam is a contracting party: Lubricating oil and grease; rice; Street; recorded items; books, newspapers, and magazines
a) Conditions specified in Clause 2.
b) For goods being lubricating oil and grease: Consider granting a license to exercise the right to import or the right to wholesale distribution to a foreign-invested economic organization that performs one of the following activities:
– Producing lubricating oil and grease in Vietnam;
– Producing or being allowed to distribute in Vietnam machinery, equipment, and goods using special oils and greases.
c) For goods being rice; Street; recorded items; Books, newspapers, and magazines: Consider licensing the exercise of retail distribution rights to foreign-invested economic organizations that already have retail establishments in the form of supermarkets, mini-marts, and convenience stores to retail at those establishments.
THE DOSSIERS
An application for a business license.
The explanation contains the following contents:
a) An explanation of the conditions for the grant of a business license;
b) Business plan: Description of contents and methods of conducting business activities; present business and market development plans; labor demand; assess the socio-economic impact and efficiency of the business plan;
c) Financial plan: Report on business results based on audited financial statements of the latest year in case it has been established in Vietnam for 01 year or more; explanation of capital, capital sources, and capital mobilization plans; accompanied by financial documents;
d) Business situation of goods purchase and sale activities and activities directly related to goods purchase and sale; the financial situation of the foreign-invested economic organization up to the time of application for a business license, in the case of a business license as specified in Clause 6, Article 5 of Decree 09/2018.
Documents from tax authorities proving that there is no overdue tax debt.
Copy: Certificate of enterprise registration; Certificate of investment registration in the project of goods trading and activities directly related to the purchase and sale of goods (if any).
THE COMPETENT AUTHORITY
Department of Industry and Trade where the foreign-invested economic organization is headquartered.
TIME
30-40 working days, from the date of receipt of valid documents.
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