1.From 1st July 2015, the new Enterprise Law and Investment Law shall become effective.
Under the current law, for setting up a foreign invested company, you shall need only Investment Certificate cum Certificate of Business Registration.
However, from 1st July 2015, two above said Certificate shall be separated.
Particularly, after obtainment of Investment Certificate you shall be required to obtain Certificate of Business Registration.
2. Under the current Vietnam Law, the Legal Representative of Company in Vietnam (generally, legal representative of Company in Vietnam is the Director or Chairman of the Company) must reside in Vietnam.
If he leaves Vietnam for a period of 30 days, he need to authorizes other person to take care daily work in Vietnam.
We also would like to note that from 1st July 2015, when the new enterprise law become effective, you can appoint 02 or more director for one company and only one of directors need to reside in Vietnam.
Then, the Owner can be also the director of the factory and he does not need to present in Vietnam if he also appoint another person to act as director of the factory and company and such person presents in Vietnam.
