QUESTION: Since forming the new company in Vietnam, how to prove the invested capital and how to use them since no need to mark actual deposit to the bank account?
ANWSER: Since forming the new company in Vietnam, investor does not need to make deposit to the bank account in Vietnam as the invested capital
In order to prove the financial ability of Foreign Investor, foreign investor must provide a certified copy of Bank Statement Letter stating his current bank account balance.
The Bank can be either Foreign Bank or Local Bank. With the respect to investor being Corporate, they can provide a certified and legalized copy of Audited Financial Statement for this.
Then, after obtaining the Investment Certificate which is equivalent to Business License for Enterprise as a Legal Entity in foreign country, he must open Bank account under the name of the FIC in a Bank operating in Vietnam.
Investor shall have 90 days from incorporating the foreign invested company (FIC) to make the capital contribution if the FIC is a Joint Stock Company.
Meanwhile, if the FIC is a Limited Liability Company, they shall have 36 months from incorporating the FIC to make the capital contribution.
Invested Capital shall be used to finance business operation of the FIC in Vietnam.
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