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FAQ

In this article, you will find information about licenses & business conditions that may be required to conduct business activities. Business sectors and activities are classified in a hierarchical structure.

1. Definition:

Under Vietnamese laws (Decision No. 1550/2004 QD by the State Bank of Vietnam), foreign investors are defined as:

  • Non-residents being foreign economic organizations established pursuant to foreign laws;
  • Non-residents being foreign individuals not residing in Vietnam and Vietnamese residing overseas;
  • Residents being foreign individuals residing in Vietnam.

Percentage of foreign parties in the Vietnamese stock market (Decision No. 238/2005/QD-TTg of the Prime Minister)

Answer: Owner’s Checklist for Starting a New Business

Background work

o assess your strengths and weaknesses

o establish business and personal goals

Certificate of Social Insurance Registration

Purpose

To regulate the obligation of enterprises and individuals in paying social insurance

What is it

Certificate

Who should apply

All business lines.

Compulsory social insurance applies only to enterprises that engage employees under a labor contract with a term of three (3) months or more or under indefinite-term labor contracts, regardless of the size of the enterprise

Where to apply

Ministry of Labour, Invalid and Social Affairs

Name

Ministry of Labour, Invalid and Social Affairs

Address

12 Ngô Quyền, Hoàn Kiếm, Hà Nội

Telephone

04 8269557

Fax

04 8248036

Email

 

Web Site

 

Notes

 

Provincial social insurance agencies

Validity of the License and application fee

Unspecified

Application conditions and documents

  1. Declaration form of employee;
  2. List of employees engaged in compulsory social insurance modality (with contracts over 3 month duration or more, or under indefinite term contract), prepared by the employer;
  3. Copy of Decision for Establishment, or Business Registration Certificate or Operating License required for employer engaging in compulsory social insurance for the first time; labor contract required for employer who is individual having the activities of hiring labor.

The process

  1. Within 30 days from the date of signing labor contract, employer submits the application file for compulsory social insurance to the social insurance agency;
  2. Within 30 days from the date of receiving complete application file, the social insurance agency shall issue the social insurance book. In case of refusal, there shall be written explanation.

How long it will take to process the application?

30 days

Inspecting authorities

  1. Ministry of Labor, War Invalids and Social Affairs;
  2. Provincial social insurance agencies

Non-compliance penalty

Stipulated in the Law on Social Insurance No. 71/2006/QH11 of June 29, 2006

Legal texts regulating this license

QH-11_L_2006_71
TT-LDTBXH_C_1995_06
Decree no. 01/2003/ND-CP of January 9, 2003 amending and supplementing a number of articles of the regulation on social insurance, issued together with the Government’s Decree no. 12/CP of January 26, 1995
Circular no. 07/2003/TT-BLĐTBXH of March 12, 2003 guiding the implementation of a number of articles of the government’s Decree no. 01/2003/ND-CP of January 9, 2003

Other useful information

Social Insurance Contributions: employers contribute 15% and employees contribute 5% of total salary

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