Banking
1. Registration requirements:
Minimum registered capital:
When registering a banking company in Vietnam, it is required to have a minimum registered capital of at least VND3 billion. This registered capital requirement is to ensure that the bank has sufficient funds to operate and deal with potential financial risks. The adequacy of registered capital not only reflects the strength of the bank, but also helps maintain the stability and security of the financial market.
Founder qualifications:
Registering a banking company requires at least two founders with banking management experience. This requirement is to ensure that the bank’s management has sufficient professional knowledge and practical experience to effectively manage banking business, make reasonable financial decisions, and avoid financial risks. The founders need to provide relevant work experience certificates to demonstrate their management experience in the banking industry.
Other conditions stipulated by the State Bank of Vietnam:
In addition to the above two main requirements, applicants for registration of banking companies must also meet other conditions stipulated by the State Bank of Vietnam (SBV). These conditions may include but are not limited to the establishment of an internal control system, the formulation of a risk management framework, the arrangement of financial audits, etc. The specific conditions will be adjusted according to the policies and regulations of the State Bank, so applicants need to understand and comply with the latest regulations of the SBV in detail.
2. Special Permit
Banking License:
After completing the registration requirements, banking companies also need to obtain a banking license before they can officially conduct business. A banking license is issued by the State Bank of Vietnam (SBV) and is a legal document for banks to conduct various financial activities. When applying for a banking license, you need to submit documents such as a detailed business plan, risk management strategy, and internal control measures to prove that the bank has the ability to conduct and manage financial business.
Issuing Agency: State Bank of Vietnam (SBV):
The State Bank of Vietnam (SBV) is the institution responsible for supervising and issuing banking licenses. The SBV is not only responsible for approving applications for banking licenses, but also for supervising the daily operations of banking companies to ensure their compliance. The SBV will conduct a comprehensive assessment of the qualifications, business plans and risk management measures of the applicant companies, and only companies that meet the requirements can obtain banking licenses.
Registering a banking company in Vietnam requires meeting strict registration requirements and obtaining special licenses. These measures are aimed at maintaining the stability and security of the financial market and ensuring the compliance and sustainable development of banking companies. During the registration and license application process, applicants are advised to pay close attention to the latest regulations and policies of the SBV to ensure that all application materials and procedures meet the requirements.
Insurance Industry
1. Registration Requirements
In Vietnam, the registration requirements for the insurance industry vary depending on the type of insurance. Here are some basic requirements for registering an insurance company:
Minimum registered capital: Depending on the type of insurance company, the minimum registered capital requirement ranges from VND100 billion to VND200 billion. The specific requirements are as follows:
Life insurance companies: Minimum registered capital is VND 200 billion.
Non-life insurance companies: Minimum registered capital is VND 100 billion.
Reinsurance company: Minimum registered capital is VND 400 billion.
Insurance brokerage companies: Minimum registered capital is VND 40 billion.
Have a qualified actuary: Insurance companies must employ at least one qualified actuary who has relevant qualifications and work experience. This is essential to ensure the company’s professional capabilities in risk assessment and financial management.
Submit a feasibility study report: When applying for registration, you need to submit a detailed feasibility study report. The report should include the company’s business plan, market analysis, financial forecasts, and risk management strategies. The quality and thoroughness of this report directly affects the success rate of the application.
2. Special Permits
In Vietnam, operating an insurance business also requires obtaining specific business licenses:
Insurance Business License: This is a license that all insurance companies must obtain. The application process is relatively strict and requires company registration documents, actuary qualification certificate, feasibility study report and other relevant materials.
Issuing authority: Insurance business licenses in Vietnam are issued by the Ministry of Finance. Applicants need to submit all necessary documents to the Ministry of Finance and obtain a license only after they have passed the review. The Ministry of Finance will conduct a comprehensive assessment of the applicant’s financial status, the professional capabilities of the management team, and the business plan to ensure that it has the ability to operate legally and soundly.
After obtaining a license, insurance companies need to strictly abide by Vietnam’s laws and regulations and submit operational reports to the Ministry of Finance on a regular basis for supervision and guidance by regulators. These measures are aimed at maintaining the healthy development of the market and protecting the rights and interests of policyholders.
Education Industry
1. Registration Requirements
In Vietnam, setting up an educational institution requires meeting a series of strict registration requirements. These requirements are designed to ensure the quality of education and the safety of students, as follows:
Compliance with educational facilities and equipment standards: Educational institutions must have facilities and equipment that meet national standards. This includes appropriate classrooms, laboratories, libraries, sports facilities, and other necessary teaching equipment. All facilities need to be inspected and certified by relevant departments to ensure that they meet health, safety, and educational standards.
Have qualified teachers and administrators: Educational institutions must employ teachers and administrators with appropriate qualifications. Teachers need to have legal education qualification certificates and have relevant teaching experience and professional knowledge. Administrators need to have experience and ability in managing educational institutions to ensure the normal operation and management of the school.
Submit education plan and curriculum: When applying for registration, educational institutions need to submit detailed education plans and curriculum settings. These plans and courses must comply with the national education syllabus and be reviewed and approved by the Ministry of Education and Training. The education plan should include teaching objectives, course content, teaching methods and evaluation standards to ensure that students can receive high-quality education.
2. Special Permits
In Vietnam, opening an educational institution also requires obtaining specific business licenses:
Educational Institution Establishment License: All educational institutions must obtain an educational institution establishment license before they can operate. Application for this license requires submission of various documents including the school charter, curriculum plan, description of facilities, and qualification certificates of teachers and administrators.
Issuing authority: The Education Institution Establishment Permit is issued by the Ministry of Education and Training. Applicants need to submit all necessary documents to the Ministry of Education and Training and obtain the permit after a rigorous review. The Ministry of Education and Training will conduct a comprehensive assessment of the educational institution’s facilities, teaching staff, educational programs, and management capabilities to ensure that it has legal, compliant, and high-quality educational capabilities.
After obtaining the license, educational institutions need to strictly abide by Vietnam’s education laws and policies and accept regular inspections and supervision by the Ministry of Education and Training. The Ministry of Education and Training also requires educational institutions to submit regular operation reports and education quality assessment reports to ensure that they continue to provide high-quality education services and promptly rectify any problems found.
Medical Industry
1. Registration Requirements
In Vietnam, the medical industry has strict registration requirements to ensure that all medical institutions provide safe and high-quality medical services. The following are the basic requirements for registered medical institutions:
Comply with medical facility and equipment standards: All medical institutions must comply with national medical facility and equipment standards. These standards include construction requirements for consulting rooms, operating rooms, emergency rooms, inpatient wards, etc., as well as required medical equipment such as electrocardiographs, X-ray machines, and ultrasound machines. These standards are designed to ensure that patients can receive treatment in a safe and hygienic environment.
Qualified medical staff: Medical institutions must employ medical staff with relevant qualification certificates and licenses. This includes doctors, nurses, pharmacists, technicians, etc. Personnel in each position must undergo professional training and hold the corresponding practice certificates to ensure the professionalism and safety of medical services.
Comply with medical waste disposal regulations: Medical institutions must strictly comply with national regulations on medical waste disposal. Medical waste includes contaminated medical instruments, disposable medical supplies, pathological waste, etc. Medical institutions must have a dedicated waste disposal area and classify, collect, transport and dispose of waste in accordance with the prescribed procedures to prevent environmental pollution and secondary infection.
2. Special Permits
In Vietnam, medical institutions need specific licenses to operate:
Medical Facility Operating License: This is a license that all medical institutions must obtain. The application process includes submitting a detailed operating plan, medical staff qualification certificates, facility and equipment compliance certificates, medical waste disposal plans, etc. The license review process is rigorous to ensure that the medical institution has the ability to provide safe and high-quality medical services.
Issuing authority: The operating license of medical institutions in Vietnam is issued by the Ministry of Health. Applicants are required to submit all necessary documents to the Ministry of Health, and the license can only be obtained after review and on-site inspection. The Ministry of Health will conduct a comprehensive assessment of the facilities, equipment, personnel qualifications, operation management and other aspects of the medical institution to ensure that it complies with the national medical service standards and laws and regulations.
Telecommunications Industry
1. Registration requirements
In Vietnam, the registration requirements for the telecommunications industry are strict and detailed to ensure that all new entrants to the market can provide high-quality and secure services. The following are the basic requirements for registering a telecommunications company:
Minimum registered capital: Depending on the type of telecommunications business, the minimum registered capital requirements vary. The specific requirements are as follows:
Infrastructure providers: Minimum registered capital is VND 300 billion.
Internet Service Provider (ISP): Minimum registered capital is VND 100 billion.
Mobile Virtual Network Operator (MVNO): Minimum registered capital is VND 50 billion.
Other telecommunications service providers: The minimum registered capital depends on the specific business type, but is generally not less than VND20 billion.
Submit a network infrastructure plan: Registered telecommunications companies must submit a detailed network infrastructure plan. This includes network coverage, technical architecture, equipment configuration, construction schedule, and budget. This plan needs to prove that the company has the ability to build and maintain a high-quality telecommunications network.
Comply with cybersecurity requirements: Telecommunications companies must comply with Vietnam’s cybersecurity requirements. This includes installing necessary security equipment, developing cybersecurity strategies, and conducting regular security inspections and risk assessments. Companies need to demonstrate their ability to protect user data and network security to prevent data breaches and cyberattacks.
2. Special Permit
In Vietnam, telecommunications companies need to obtain specific business licenses to operate legally:
Telecommunications Business License: This is a license that all telecommunications companies must obtain. When applying for this license, applicants are required to provide company registration documents, network infrastructure plans, proof of financial status, and other relevant materials. The application process is strict and the Ministry of Information and Communications will conduct a comprehensive review of the applicant’s qualifications.
Issuing authority: Telecommunications business licenses in Vietnam are issued by the Ministry of Information and Communications. Applicants need to submit all necessary documents to the Ministry of Information and Communications and obtain a license only after passing the review. The Ministry of Information and Communications will conduct a strict assessment of the applicant’s technical capabilities, financial stability, network security measures, etc. to ensure that they have the ability to provide high-quality telecommunications services.
After obtaining the license, telecommunications companies must strictly abide by Vietnam’s laws and regulations and submit operation reports and network security reports to the Ministry of Information and Communications on a regular basis. The Ministry of Information and Communications will supervise and guide the operation of telecommunications companies to ensure orderly market competition and improved service quality.
Trade Industry
1. Registration Requirements
In Vietnam, companies engaged in the trading industry need to meet a series of registration requirements. These requirements ensure that the company has legal qualifications to operate and sufficient financial capacity. Here are some basic requirements for registering a trading company:
Minimum registered capital: According to Vietnamese law, companies engaged in the trading industry must have a registered capital of at least US$100,000. This regulation is intended to ensure that the company has sufficient funds to support its business operations and reduce financial risks.
Provide a detailed list of business items: When applying for registration, the company needs to submit a detailed list of business items. The list should include the specific trading activities that the company plans to engage in, such as the types of imported and exported goods, supply chain management, logistics services, etc. The level of detail of the list directly affects the approval progress and success rate of the application.
Types of imported and exported goods: List in detail the types of goods that the company plans to import and export, such as consumer goods, electronic products, machinery and equipment, raw materials, etc.
Supply Chain Management: Describe the company’s specific business in supply chain management, including procurement, warehousing, distribution, etc.
Logistics Services: If the company provides logistics services, a detailed description of its logistics network, transportation methods and service coverage is required.
2. Special Permits
In Vietnam, certain types of trading activities require additional business licenses. These licenses ensure that a company is legally operating within a specific industry sector. Here are some of the special licenses that may be needed:
Trading Business License: Depending on the specific type of business of the company, you may need to apply for a trading business license. For example, a company engaged in the trading of special commodities such as pharmaceuticals, chemicals, agricultural products, etc., needs to obtain the corresponding business license.
Pharmaceutical trade: A pharmaceutical trade license issued by the Ministry of Health is required.
Chemical Trading: A Chemical Trading License issued by the Ministry of Industry and Trade is required.
Agricultural Products Trading: An Agricultural Products Trading Permit issued by the Ministry of Agriculture and Rural Development is required.
Issuing authority: The issuing authority for a trade business license varies depending on the specific type of business. Companies need to submit application materials to the relevant government department and obtain a license only after passing the review. Application materials usually include company registration documents, a list of business items, proof of financial status, etc.
Ministry of Health: Responsible for issuing pharmaceutical trade licenses.
Ministry of Industry and Trade: Responsible for issuing chemical trade licenses.
Ministry of Agriculture and Rural Development: Responsible for issuing agricultural product trade licenses.
After obtaining all necessary licenses, trading companies need to strictly abide by Vietnam’s laws and regulations and submit operation reports to relevant departments regularly for supervision and guidance by regulatory agencies. These measures are aimed at maintaining the healthy development of the market and protecting the rights and interests of consumers and partners.
Manufacturing
1. Registration Requirements
In Vietnam, the registration requirements for manufacturing vary depending on the specific manufacturing business. Here are some basic requirements for registering a manufacturing company:
Minimum registered capital: The minimum registered capital requirement for a manufacturing company varies depending on the specific manufacturing business. For example, a high-tech manufacturing industry may require a higher registered capital, while a small-scale manual manufacturing industry may require a relatively lower registered capital. Generally, investors should determine the registered capital based on the scale of the business, the complexity of the technology, and the industry standards. Ensure that the registered capital is sufficient to meet the initial operation and development needs of the business.
Submit an Environmental Impact Assessment Report: Environmental protection plays an important role in Vietnam’s manufacturing industry. All manufacturing companies must submit an Environmental Impact Assessment (EIA) report when registering. The report should describe in detail the environmental impact of the proposed factory, including treatment plans for wastewater, exhaust gas, noise and solid waste. The report should also include specific measures to reduce environmental impacts and an environmental management plan. The EIA report needs to be reviewed and approved by the environmental protection department to ensure that the project complies with national environmental protection laws and standards.
2. Special Permits
In Vietnam, manufacturing companies may also need to obtain specific licenses, especially those related to the environment:
Environmental license: Depending on the specific type of manufacturing business, manufacturing companies may need to apply for an environmental license. For example, companies involved in highly polluting industries such as chemicals, metal processing, and pharmaceuticals must obtain an environmental license. In the process of applying for an environmental license, companies are required to submit a detailed environmental management plan, including pollutant emission control measures, environmental monitoring plans, and emergency plans for sudden environmental incidents. Environmental licenses are issued by local or national environmental protection departments to ensure that companies strictly comply with environmental protection regulations during production.
After obtaining relevant licenses, manufacturing companies need to strictly abide by relevant laws and regulations on environmental protection, submit environmental monitoring reports to environmental protection departments on a regular basis, and accept inspections and guidance from regulatory departments. These measures are aimed at promoting the sustainable development of the manufacturing
industry and protecting the ecological environment and public health.
Construction Industry
1. Registration requirements
In Vietnam, the registration requirements for the construction industry are relatively strict to ensure that all companies involved in construction projects have the necessary professional capabilities and resources. The following are the basic requirements for registering a construction company:
Provide detailed construction project plans: Construction companies must submit detailed construction project plans. These plans should include a general overview of the project, design drawings, technical specifications, construction schedules, budget estimates, and safety management plans. The detailedness and accuracy of the project plan are key factors in the review to ensure the feasibility and safety of the project.
Have qualified construction engineers and managers: A registered construction company must have a professional team, including qualified construction engineers and managers. Construction engineers need to have relevant professional qualification certificates and rich project experience. Managers need to have good project management and coordination skills to ensure that the project proceeds smoothly as planned.
2. Special Permit
In Vietnam, construction companies need to obtain specific business licenses in addition to registration requirements:
Building Permit: This is a license that all construction companies must obtain. The process of applying for a building permit involves submitting a detailed project plan, proof of personnel qualifications, and other relevant materials. Obtaining a permit is not only the basis for the company to operate legally, but also a recognition of its professional ability and credibility.
Issuing authority: Construction permits are issued by the Ministry of Construction of Vietnam. Applicants need to submit all necessary documents to the Ministry of Construction and pass a strict review process. The Ministry of Construction will conduct a comprehensive assessment of the applicant’s qualifications, project plans, staffing, etc. to ensure that they have the ability and conditions to carry out construction projects.
After obtaining a building permit, construction companies must comply with relevant laws and regulations and accept supervision and inspection by the Ministry of Construction during the construction process. Companies need to submit construction progress reports and quality inspection reports regularly to ensure the construction quality and safety standards of the project. These measures not only maintain the order of the construction market, but also protect the interests of the public.
Tourism
1. Registration Requirements
In Vietnam, starting a tourism business requires meeting a series of registration requirements to ensure that the business is able to provide quality tourism services. The following are some of the basic requirements for tourism registration:
Provide a detailed travel service plan: When applying for registration as a travel company, you must submit a detailed travel service plan. The plan should include the following:
Company profile: including company name, address, contact information and legal representative information.
Service scope: Specify the types of tourism services the company will provide, such as tour organization, hotel reservations, tourism consulting, etc.
Market Analysis: A detailed analysis of the target market describing market demand, competition, and how the company will position itself in the market.
Financial plan: includes initial investment budget, funding sources, revenue forecast, cost control, and profitability analysis.
Operational Strategy: Describe the company’s operating model, service standards, customer service strategy, and risk management measures.
Have qualified tour guides and managers: Travel companies must be equipped with qualified tour guides and managers to ensure that they can provide high-quality travel services.
Tour guide qualifications: Tour guides must hold a tour guide certificate issued by the Ministry of Culture, Sports and Tourism and have relevant professional knowledge and extensive tour guide experience.
Management: The management team should have relevant management experience and expertise in the tourism industry and be able to effectively organize and manage the company’s various businesses.
2. Special Permits
In Vietnam, operating a tourism business also requires obtaining specific business licenses:
Tourism Business License: This is a license that all tourism companies must obtain. The application process is as follows:
Submit application materials: Submit detailed application materials to the Ministry of Culture, Sports and Tourism, including company registration documents, tourism service plan, qualification certificates of tour guides and managers, etc.
Review and Evaluation: The Ministry of Culture, Sports and Tourism will review the application materials and assess the company’s operating capabilities and the feasibility of its service plans.
Issuance of license: After passing the review, the Ministry of Culture, Sports and Tourism will issue a tourism business license, authorizing the company to legally operate tourism business.
Issuing agency: Tourism business licenses in Vietnam are issued by the Ministry of Culture, Sports and Tourism. The Ministry of Culture, Sports and Tourism is responsible for supervising and managing the tourism industry, ensuring that travel companies comply with relevant laws and regulations and provide quality tourism services.
After obtaining the license, travel companies need to submit regular operation reports to the Ministry of Culture, Sports and Tourism and accept supervision and guidance. These measures are aimed at promoting the healthy development of the tourism industry and protecting the legitimate rights and interests of tourists.
Catering and Hotel Industry
1. Registration requirements
The restaurant and hotel industry is a highly competitive and regulated industry in Vietnam. In order to successfully register and operate in this industry, a business must meet the following basic requirements:
Comply with health and safety standards: All catering and hotel businesses must strictly comply with national health and safety standards. This includes:
Hygiene standards: Catering companies must ensure food safety and hygiene to avoid any possible food poisoning or contamination. Kitchens and dining areas must be cleaned and disinfected regularly, and staff must undergo regular health checks and hold health certificates.
Safety standards: Hotels must be equipped with necessary safety facilities such as fire extinguishers, smoke detectors, emergency exits and safety signs. In addition, hotels should formulate and implement emergency plans to deal with emergencies such as fires and earthquakes.
Facility Maintenance: Catering and hotel facilities must be regularly maintained and inspected to ensure that all equipment and devices are functioning properly and to reduce the occurrence of accidents.
Provide a detailed service plan: Catering and hotel businesses are required to provide a detailed service plan including:
Business Description: Detail the types of services the business will provide, such as food and beverage services, room service, recreational facilities, etc.
Market analysis: Analyze the target market and competitors and develop corresponding marketing strategies.
Operational plan: describes the company’s daily operating procedures, management structure, employee training plan, etc.
Financial plan: Includes initial investment budget, operating cost estimates, revenue forecasts, and profitability plans.
2. Special Permit
In order to operate legally, restaurant and hotel businesses also need to obtain special licenses such as the following:
Food Hygiene License: This is a license that all F&B businesses must obtain. The application process involves submitting business registration documents, a certificate of compliance with hygiene standards, and other relevant documents. The health department will conduct an on-site inspection of the business’s kitchen and dining areas to ensure that food hygiene standards are met before issuing a license.
Hotel operating license: Depending on the specific type of business, hotel companies may need to apply for a hotel operating license. Applicants are required to submit a detailed service plan, facility safety certificate and other necessary documents to the local tourism bureau or relevant regulatory agency. The regulatory agency will conduct a comprehensive assessment of the hotel’s facilities and services to ensure that they meet the relevant standards before issuing a license.
Special Business Licenses: If the hotel offers additional special services, such as a bar, entertainment venue or fitness center, you may need to apply for an additional business license.
After obtaining relevant licenses, catering and hotel companies must strictly abide by local laws and regulations and accept regular inspections by regulatory authorities. Only by ensuring the legality and compliance of operations can companies gain a foothold and grow in the fierce market competition.
Financial Services
In Vietnam, securities and stock trading is an important part of the financial services industry. The healthy development of the industry is crucial to the country’s economic growth and the stability of the financial market. The following is the detailed registration requirements and licensing information for securities and stock trading:
1. Special Permit
Securities Trading License: In Vietnam, any company engaged in securities and stock trading business must obtain a securities trading license. This is a necessary document to ensure that the company can conduct securities trading activities legally and in compliance with regulations.
Issuing Agency: Securities trading licenses are issued by the State Securities Commission (SSC) of Vietnam. The SSC is responsible for regulating and supervising Vietnam’s securities market and ensuring market transparency and fairness.
2. Requirements
Minimum registered capital: To ensure that the company has sufficient funds to carry out securities trading activities, Vietnam requires securities companies to have a registered capital of at least VND100 billion. This requirement is intended to protect the company’s risk resistance in the face of market fluctuations and ensure that it can fulfill its commitments to customers.
Requirements for professionals and technical facilities: Securities companies must be equipped with professionally qualified personnel and advanced technical facilities to ensure that they can conduct securities trading activities efficiently and safely. The specific requirements are as follows:
3. Professional staff:
Certified Public Accountant: The company needs to hire a professional who holds the Certified Public Accountant qualification to be responsible for the company’s financial management and auditing work.
Securities Analysts: There must be qualified securities analysts who have passed relevant qualification examinations recognized by the National Securities Commission and have extensive experience in market analysis.
Traders: The company needs to be equipped with experienced traders to be responsible for daily securities trading operations.
4. Technical facilities:
Trading system: Securities companies must have an advanced trading system to ensure efficient and secure trading. The system must be capable of real-time data processing and be able to seamlessly connect with the national stock exchange system.
Information security facilities: In order to protect customer information and transaction data, the company needs to establish a complete information security system to prevent any unauthorized access and data leakage.
Customer Service System: The company needs to have a complete customer service system to provide timely and professional customer support services, including telephone, online customer service and other channels.
In order to ensure the stable operation of securities companies and the orderly development of the market, the National Securities Commission has very strict supervision over securities companies. After obtaining a securities trading license, a company must submit operating reports to the National Securities Commission on a regular basis and accept its supervision and inspection.
Through these strict requirements and regulations, Vietnam’s securities and stock trading markets have been able to develop healthily, providing investors with a safe and fair investment environment and injecting new vitality into the country’s economic development.
Foreign Exchange Trading
1. Special Permit
In Vietnam, trading forex requires a specific business license:
Forex Trading License: This is a license that all institutions engaged in forex trading must obtain. Institutions holding this license are eligible to conduct legal forex trading activities in Vietnam. This license is issued by the State Bank of Vietnam (SBV).
2. Issuing authority
Issuing authority: The State Bank of Vietnam is the only authority that has the authority to issue foreign exchange trading licenses. Applicants need to submit all necessary documents to the State Bank of Vietnam and pass a rigorous review process to obtain a license. The State Bank of Vietnam will conduct a comprehensive assessment of the applicant’s financial status, technical capabilities, and the professional capabilities of the management team to ensure that they have the ability to operate legally and soundly.
3. Requirements
There are several key requirements to apply for a foreign exchange trading license:
Comply with foreign exchange regulations: Applicants must strictly comply with Vietnam’s foreign exchange regulations. Vietnam’s foreign exchange regulations have detailed provisions on the operation of the foreign exchange market, the process of foreign exchange transactions, and risk control measures. Applicants need to understand in detail and ensure that their business operations comply with these regulations. Specific requirements include but are not limited to:
Submit a detailed business plan and operational strategy that demonstrates how to comply with foreign exchange regulations.
Provide proof of the company’s financial status to show that it has sufficient capital to conduct foreign exchange transactions.
Submit a risk management strategy that explains how to identify and control risks in forex trading.
Possess appropriate technology and personnel: Foreign exchange trading requires highly professional technology and personnel support. Applicants need to demonstrate their readiness in technology and personnel, including but not limited to:
Technical equipment and systems: Applicants need to have advanced trading systems and technical equipment to ensure efficient and secure foreign exchange trading. Specific requirements include the stability of the trading platform, the security of data transmission, and the effectiveness of the risk control system.
Professionals: Applicants need to have a team with rich experience and expertise, including traders, risk management experts and compliance personnel. The State Bank of Vietnam will review the qualifications and experience of these personnel to ensure that they have the ability to engage in foreign exchange transactions.
Energy Industry
1. Electricity production and distribution
In Vietnam, electricity generation and distribution is an important part of the energy industry. The following are the basic requirements and special licenses required to register an electricity generation and distribution business:
Special license: Electricity business license
To conduct electricity production and distribution business in Vietnam, enterprises must obtain an electricity business license, which is a basic requirement to ensure that electricity business operates legally and in compliance with regulations.
Issuing agency: Ministry of Industry and Trade
Electricity business licenses are issued by Vietnam’s Ministry of Industry and Trade, which oversees and manages electricity production and distribution operations across the country, ensuring they comply with the country’s energy policies and regulations.
Require:
Comply with national grid planning:
Enterprises applying for power business licenses must comply with the national grid plan. This means that enterprises need to work closely with the State Grid Corporation during site selection, construction and operation to ensure that their power facilities and distribution networks are consistent with the overall plan of the State Grid.
Environmental Impact Assessment Report:
Companies are also required to submit an environmental impact assessment report. This report must detail the potential impact of the project on the environment, including air, water, soil and ecosystems, and propose measures to mitigate the negative impacts. The environmental impact assessment report needs to be approved by the environmental protection department to ensure the project’s environmental compliance.
2. Oil and gas extraction
Oil and gas extraction is another important sector of the energy industry. Here are the basic requirements and special licenses needed to register an oil and gas extraction business:
Special permits: Oil and gas extraction licenses
Enterprises engaged in oil and gas extraction in Vietnam must obtain an oil and gas extraction license, which is a basic requirement to ensure that enterprises can legally engage in resource extraction activities.
Issuing Agency: PetroVietnam
Oil and gas extraction licenses are issued by PetroVietnam, the national energy company responsible for managing and supervising oil and gas extraction activities throughout the country.
Require:
Large investment capital:
Oil and gas extraction business requires large investment capital. This is because the business involves complex technology and equipment, and the initial investment and operating costs are very high. Companies must demonstrate that they have sufficient financial strength to support the smooth progress of the project.
Proof of technical ability:
The company also needs to provide evidence of its technical capabilities. This includes the company’s technical experience in oil and gas extraction, professional qualifications, equipment and technical solutions. Proof of technical capabilities is intended to ensure that the company can extract resources efficiently and safely, and reduce negative impacts on the environment.
Transportation Industry
1. Air transport
In Vietnam, the air transport industry needs to obtain a specific business license to operate legally. The following are the detailed registration requirements and processes:
Special permission: Air transport business license
All airlines must obtain an Air Transport Business License before they can operate on domestic or international routes.
Issuing agency: Ministry of Transport
The license is issued by the Ministry of Transport of Vietnam. Applicants are required to submit application documents to the Ministry of Transport and pass a strict review process.
Require:
Minimum registered capital:
Domestic routes: The minimum registered capital of an airline applying to operate domestic routes is VND 100 billion.
International routes: The minimum registered capital of an airline applying to operate international routes is VND 300 billion.
Compliance with aviation safety standards: All airlines must comply with international and domestic aviation safety standards. This includes aircraft safety, pilot and crew qualifications and training, airport facility safety standards, etc. Airlines need to provide relevant evidence and documentation to ensure that they meet all required safety standards.
2. Maritime and inland waterway transport
Maritime and inland waterway transport are important components of Vietnam’s transportation industry. The following are the relevant registration requirements and special permits:
Special license: Water transport business license
All companies engaged in maritime and inland waterway transport operations must obtain a waterway transport business license in order to operate legally.
Issuing agency: Ministry of Transport
The license is issued by the Ministry of Transport of Vietnam. Applicants are required to submit application documents to the Ministry of Transport and pass a detailed review process.
Require:
Compliance with ship safety and environmental standards: The operated ships must comply with international and domestic safety and environmental standards. This includes the structural safety of the ship, the provision of life-saving equipment, the installation of pollution control equipment, etc. The company needs to provide relevant documentation to prove that its ships meet all required standards.
Qualified crew: All crew members must have relevant qualifications and sufficient work experience. The company must ensure that the crew has undergone necessary training and meets international and domestic shipping personnel standards.
Proof of technical capabilities: The company needs to provide documentation of its technical capabilities to ensure that it has the technical capabilities to operate water transport business. This includes ship maintenance and repair capabilities, shipping management systems, shipping safety management capabilities, etc.
Agriculture and Fisheries
1. Pesticide and fertilizer production
Agriculture is an important pillar of Vietnam’s economy, and the production of pesticides and fertilizers is crucial to improving agricultural production efficiency. In Vietnam, setting up pesticide and fertilizer production companies requires meeting a series of strict requirements and obtaining corresponding licenses.
Special licenses: Pesticide and fertilizer production license
To produce pesticides and fertilizers in Vietnam, companies must apply for and obtain a pesticide and fertilizer production license. This is a necessary step to ensure that product quality and production processes meet national standards.
Issuing Agency: Ministry of Agriculture and Rural Development
Pesticide and fertilizer production licenses are issued by Vietnam’s Ministry of Agriculture and Rural Development, which is responsible for reviewing application materials, inspecting production facilities, and ensuring that companies comply with relevant laws and regulations.
Require:
Compliance with environmental protection standards: Production enterprises must strictly abide by Vietnam’s environmental protection laws and regulations to ensure that waste and pollutant emissions during the production process meet national standards. This includes taking measures to prevent soil, water and air pollution, and effectively treating production wastewater.
Product quality control system: Enterprises need to establish and maintain a strict product quality control system. This system includes quality inspection of raw materials, quality monitoring during the production process, and testing of finished products to ensure that the final product meets national and international standards.
2. Aquaculture
Vietnam is rich in fishery resources, and aquaculture plays an important role in economic development and improving people’s livelihood. Setting up an aquaculture enterprise also requires obtaining relevant licenses and meeting certain requirements.
Special Permits: Aquaculture License
Enterprises engaged in aquaculture must apply for an aquaculture license. This license is to ensure that aquaculture activities comply with national planning and environmental protection requirements, protect the ecological environment and the sustainable use of aquatic resources.
Issuing Agency: Ministry of Agriculture and Rural Development
Aquaculture licenses are issued by the Ministry of Agriculture and Rural Development, which is responsible for assessing applicants’ farming plans, environmental impacts and technical capabilities, and conducting on-site inspections and supervision.
Require:
Comply with aquaculture area planning: Applicants need to ensure that their breeding sites are located in aquaculture areas designated by the government and comply with local planning requirements. This helps prevent over-breeding and resource abuse and promotes the sustainable development of the aquaculture industry.
Environmental Impact Assessment Report: Companies are required to provide a detailed environmental impact assessment report to assess the impact of their farming activities on the local ecosystem. This includes water quality testing, ecological risk analysis, and recommendations for mitigation measures. The assessment report must be reviewed by the Ministry of Agriculture and Rural Development.
Culture and Entertainment
Special license: Radio and television business license
All broadcasters must obtain a broadcasting license to operate legally. This license is issued by the Ministry of Information and Communications.
Issuing authority: Ministry of Information and Communication
The department is responsible for regulating the radio and television industry, including the issuance of licenses and supervision of daily operations. Applicants need to submit all necessary documents to the Ministry of Information and Communication and obtain a license only after passing the review.
Require:
Compliance with the National Radio and Television Development Plan: Applicants must demonstrate that their business plans are in line with the National Radio and Television Development Plan, which aims to promote the healthy development of the radio and television industry and ensure the diversity and quality of content.
Content review requirements: Radio and television content needs to be strictly reviewed to ensure compliance with national laws, regulations and ethical standards. Applicants must provide detailed program plans and content review mechanisms to ensure that the content they broadcast meets national requirements.
2. Gambling and Casinos
The gaming and casino industry is also strictly regulated in Vietnam. The following are the relevant requirements for engaging in gaming and casino business:
Special license: Gambling business license
All companies engaged in gaming and casino operations must obtain a gaming business license. This is issued by the Ministry of Finance and the application process is extremely rigorous.
Issuing authority: Ministry of Finance
The Ministry of Finance is responsible for regulating the gaming and casino industry, including the issuance of licenses and day-to-day supervision. Applicants are required to submit a comprehensive business plan, proof of financial status and details of the management team to the Ministry of Finance.
Require:
Limited to specific areas and targets: Gambling and casino businesses can only be conducted in specific areas designated by the government and are mainly targeted at foreign tourists. The government stipulates that these businesses cannot operate near residential areas or schools to avoid negative impacts on society.
Strict financial and management requirements: Applicants must demonstrate sufficient financial strength and sound management mechanisms. Detailed financial reports, risk management plans, and measures to prevent money laundering are required. In addition, the management team must have relevant professional experience and a good reputation to ensure the legal and stable operation of the business.
After obtaining a license, gaming and casino companies are also required to submit regular operating reports to the Ministry of Finance and undergo strict auditing and supervision. These measures are aimed at regulating industry development and maintaining social order and public interests.
Real Estate Development
Special Permits
In Vietnam, specific permits are required to proceed with real estate development projects. The main special permits include:
Real Estate Development Project License: This is a license that all real estate development projects must obtain to ensure the legality and compliance of the project.
Issuing Agency
Ministry of Construction and local governments: The issuing agencies of real estate development project licenses mainly include the Ministry of Construction of China and local governments. The Ministry of Construction is responsible for supervising and guiding real estate development projects nationwide, while local governments are responsible for the approval and supervision of specific projects.
Require
To obtain a real estate development project license, developers need to meet a number of requirements, including but not limited to the following:
Proof of Land Use Rights: Applicants must provide legal documents proving land use rights. These documents prove that the applicant has the legal right to use the land required for the development project. In Vietnam, land ownership belongs to the state, but land use rights can be obtained through purchase, leasing or other legal means. Providing proof of land use rights is a key step to ensure the legality and compliance of the project land use.
Detailed development plan and feasibility study report: Applicants must submit a detailed development plan and feasibility study report. These documents should include the following:
Project Overview: Includes basic information such as project name, location, development scale and expected objectives.
Market analysis: Analyze the real estate market in the project area, including market demand, competition and market prospects.
Financial plan: includes project budget, funding sources, investment return forecast and financial risk assessment.
Construction Plan: A detailed description of the project’s construction schedule, construction steps, and quality control measures.
Environmental Impact Assessment: Assess the potential impact of the project on the environment and propose corresponding environmental protection measures.
Social Impact Assessment: Assess the potential impact of the project on the local community and society, and propose corresponding response measures.
The development plan and feasibility study report submitted need to be professionally evaluated to ensure the feasibility and compliance of the project. These documents are not only an important basis for project approval, but also the basis for guidance and supervision during project implementation.
Environmental Services
1. Waste treatment and recycling
In Vietnam, environmental services, especially in the field of waste treatment and recycling, have strict regulations and standards. In order to ensure the healthy development of the environmental protection industry, any company engaged in waste treatment and recycling business must meet specific registration and operation requirements.
Special Permits
Waste Disposal Business License: Any company engaged in waste disposal and recycling business needs to apply for and obtain a Waste Disposal Business License. This license is a prerequisite for legal operation and ensures that the company complies with national environmental standards and regulations during the waste disposal process.
Issuing Agency: This license is issued by the Ministry of Natural Resources and Environment. This agency is responsible for supervising and managing the waste treatment and recycling industry, ensuring that all companies comply with environmental laws and regulations and take effective measures to reduce environmental pollution.
Require
In order to obtain a waste disposal business license, a company needs to meet the following requirements:
Compliance with environmental protection standards: Companies must ensure that their operations comply with Vietnam’s environmental protection standards. This includes all aspects of the waste treatment and recycling process, from collection and transportation to treatment and final disposal. Enterprises need to provide a detailed environmental impact assessment report on the potential impact of their operations on the environment and the mitigation measures they intend to take.
Possess professional treatment equipment and technology: The company must be equipped with professional waste treatment equipment and technology to ensure efficient and safe treatment of various types of waste. These equipment and technologies should comply with national and international environmental standards and be regularly maintained and upgraded. In addition, the company needs to have a professionally trained technical team that can skillfully operate the equipment and respond to emergencies.
In the process of applying for a license, the company needs to submit a detailed business plan, equipment list, technical plan and environmental impact assessment report. The Ministry of Natural Resources and Environment will review these documents and conduct an on-site inspection of the company’s facilities to ensure that they meet all requirements.
Once the license is obtained, the company must also submit regular operational reports to the Ministry of Natural Resources and Environment to demonstrate its performance in waste treatment and recycling. These reports should include the types and quantities of waste treated, the operation of technical equipment, and the implementation of environmental protection measures.
Through strict regulations and standards, the Vietnamese government aims to promote the development of the waste treatment and recycling industry while protecting the environment and public health. This not only helps reduce environmental pollution, but also promotes the efficient use of resources and sustainable development.
Security Services
1. Private security services
Private security services are an important part of ensuring the safety of individuals, businesses and public places. With the development of social economy, the demand for private security services is increasing. In order to regulate the security service market and ensure the quality of services, Vietnam has set strict requirements and special licenses for private security service companies.
Special Permits
Security Services Business License: Companies operating private security services must hold a Security Services Business License. This is a mandatory requirement under the law to ensure that companies providing security services have sufficient professional capabilities and legal qualifications.
Issuing authority: Vietnam’s security service business license is issued by the Ministry of Public Security, which is responsible for conducting strict review and assessment of applicant companies to ensure that they have legal and professional security service capabilities.
Require:
In order to obtain and hold a security services business license, a private security services company must meet the following requirements:
Personnel training and qualification
The training and qualification of security personnel is the basis for ensuring service quality and professionalism. The specific requirements are as follows:
Basic Training: All security personnel must receive basic professional training, including legal knowledge, professional ethics, emergency response skills, customer service skills, etc.
Qualification certification: After passing the training, security personnel need to pass the relevant qualification examination and obtain a certification certificate. Only those with valid qualification certificates can officially take up their posts.
Continuing Education: Security companies should provide their employees with regular continuing education and skills upgrading training to ensure that they maintain the latest professional knowledge and skills.
Comply with safety equipment standards
In addition to the training and certification of personnel, security companies must also ensure that the equipment and technology they use meet national safety standards. This includes:
Equipment standards: All equipment used for monitoring, communication and security protection must comply with national or industry standards to ensure their reliability and effectiveness. For example, surveillance cameras, bulletproof vests, communication equipment, etc.
Equipment maintenance: Security companies must regularly inspect and maintain their security equipment to ensure it is always in good working condition. Maintenance records of the equipment need to be recorded in detail and reported to the Ministry of Public Security on a regular basis.
Technology Upgrade: With the development of technology, security companies should update and upgrade their equipment and technology in a timely manner to improve the quality and efficiency of security services.
Through strict personnel training and equipment standards, private security service companies are not only able to provide high-quality security services, but also able to effectively prevent and deal with various potential security threats, providing customers with reliable security protection.
