What is an Enterprise Registration Certificate Vietnam?

Enterprise Registration Certificate Vietnam, also known as ERC Vietnam, is a hard copy or electronic copy that records information on business registration.

All Vietnamese companies that become legally registered will also be granted an Enterprise Registration Certificate. So, what is the Enterprise Registration Certificate Vietnam? How to apply for it? In this article, Nova Law will answer frequently asked questions about the ERC Vietnam.

1. What is an Enterprise Registration Certificate in Vietnam?

An Enterprise Registration Certificate Vietnam, also known as ERC Vietnam, is a hard copy or electronic copy that records information on business registration. The ERC is granted by a provincial Business Registration Office to an enterprise. The ERC Vietnam concept is similar to the Business License or Certificate of Incorporation in other jurisdictions.

Being granted an ERC verifies the establishment of your company in Vietnam. Once you open your company, it gains legal status in Vietnam meaning you now have the right to conduct business. This comes along with the state’s protection of property ownership, investment capital, income, and lawful rights in the interest of a company and its owners. An Enterprise Registration Certificate is basically a log of all business activities so the Vietnamese government can see a comprehensive understanding of your business activities.

The official language used on an ERC is Vietnamese, which makes it difficult to comprehend for most foreigners. Every company will be granted an original copy of ERC. Since this is an important license for your business in Vietnam (although less important than IRC), always keep the ERC safe and in a good condition in case it is needed.

2. What information is contained in an ERC Vietnam?

An ERC includes the following principal contents:

• Company name, company type, and enterprise code;

• Headquarter address of the company;

• Full name, contact address, nationality, number of legal papers of the individual, for the legal representative of limited liability company and joint-stock company;

• Full name, contact address, nationality, number of legal papers of the individual, for members being an individual; name, enterprise code and headquarter the member being an organization, applicable for limited liability company;

• Charter capital of the company

3. How to get an ERC in Vietnam

The following are 4 essential steps required to obtain an ERC for a foreign-owned company in Vietnam:

Step 1. Seek advice from a lawyer

The first thing to do is to consult with your Vietnamese lawyer. Please keep in mind that applying for an ERC is just a small step in the whole process to set up a foreign business in Vietnam

Step 2. Apply for an Investment Registration Certificate

This is the most difficult licensing step. The regulatory time for the assessment process is 15 working days. However, the practical time could stretch out a bit longer.

Read more: How to obtain an Investment Registration Certificate in Vietnam

Step 3.

Prepare the required documentation

Prepare the required documentation to form a complete application dossier. Foreign documents need to be notarized and translated into Vietnamese. Some companies are required to have consular authentication. The list of required documents is as follows:

• Application form for business registration

• Draft of the company charter

• List of founding and foreign shareholders or members

• A written appointment of an authorized representative of the organization

• Copies of the following documents:

  • Personal legal documents of (i) the legal representative of the company, (ii) individual members or shareholders, (iii) the authorized representative of the founding shareholders, (iv) authorized representative of foreign investors being organizations

  • Legal documents of the organization of members/founding shareholders/foreign shareholders that are organizations

Step 4. Apply for an ERC

After obtaining an Investment Registration Certificate for your investment project, applying for an ERC with the Business Registration Office is an absolute must in order to finish setting up your business in Vietnam. This licensing process is simple and fast. The regulatory time for the assessment process is approximately 03 working days. However, in practice, this assessment process might run a bit longer.

The applicant will be granted an ERC when they fully meet the following conditions:

• The registered business lines are not banned from business investment;

• The name of the company is set in accordance with regulations

• The applicant submits a valid company registration dossier;

• The applicant fully pays the business registration fee as prescribed by the law.

The IRC and the ERC are 2 fundamental business licenses for foreign-owned businesses in Vietnam.

4. Key Takeaways

The Enterprise Registration Certificate is a compulsory and important license for foreign-owned businesses in Vietnam. Being granted an ERC verifies the establishment of your company in Vietnam. This licensing process is simple and fast. But keep in mind that applying for an ERC is just a small step in the whole process to set up a foreign business in Vietnam.

At Nova Law, our lawyers will advise you on all legal conditions to successfully obtain an ERC for your business. We will represent the foreign investor to register the ERC, as well as other licenses, with the licensing authority.

Nova Law has been assisting foreign investors in setting up businesses in Vietnam for years. We offer a wide range of business legal services: Legal Consulting, Company Registration, Licensing, Visas, and more. Contact our lawyers to register your Vietnam company today!