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LICENSE FOR TRADING AND SELLING FOREIGN-INVESTED GOODS

The sale and sale of goods is a commercial activity in which the seller is obliged to deliver and transfer ownership of the goods to the buyer and receiver; the buyer is obliged to pay the seller, receive the goods and the ownership of the goods as agreed upon.

The sale and sale of goods is carried out by domestic or foreign investors.

Conditions for foreign investors

In case foreign investors belonging to foreign countries or territories participate in the International Treaty to which Vietnam is a party committing to open the market for the sale and sale of goods and activities directly related to the purchase and sale of goods:

  • Meet the conditions for market access in the International Treaty of which Vietnam is a member;
    • Having a financial plan to carry out the business license request;
    • No overdue tax debts in case they have been established in Vietnam for 01 year or more.

In case foreign investors are not part of countries or territories participating in international treaties to which Vietnam is a member

  • Having a financial plan to carry out the business license request;
  • No overdue tax debts in case they have been established in Vietnam for 01 year or more.
  • Meet the following criteria:
    • In accordance with the provisions of specialized law;
    • In line with the level of competition of domestic enterprises in the same field of operation;
    • The ability to create jobs for domestic workers;
    • Ability and level of contribution to the state budget.
  • Where business services have not been committed to open markets in international treaties to which Vietnam is a member: similar to the conditions in cases where foreign investors are not part of foreign countries or territories participating in the International Treaty of which Vietnam is a member
  • In case business goods have not been committed to open markets in international treaties to which Vietnam is a member: Oil and grease; rice; road; recorded items; Books, newspapers and magazines:
    • Having a financial plan to carry out the business license request;
    • No overdue tax debts in case they have been established in Vietnam for 01 year or more.
  • Meet the following criteria:
    • In accordance with the provisions of specialized law;
    • In line with the level of competition of domestic enterprises in the same field of operation;
    • The ability to create jobs for domestic workers;
    • Ability and level of contribution to the state budget.;
  • For goods that are oil and grease: Consider licensing the exercise of import rights and wholesale distribution rights to foreign-invested economic organizations that carry out one of the following activities:
    • Production of lubricants and greases in Vietnam;
    • Producing or being allowed to distribute in Vietnam machinery, equipment and goods using oil and grease of specific types.
  • For goods that are rice; road; recorded items; books, newspapers and magazines: Consider licensing the exercise of retail distribution rights to foreign-invested economic organizations that already have retail establishments in the form of supermarkets, mini-supermarkets, convenience stores for retail at such establishments.

In addition, in case foreign investors trade in goods in the form of establishing retail establishments, the following conditions are required:

  • Establishing the first retail establishment:
    • Have a financial plan for establishing a retail base;
    • No overdue tax debts in case they have been established in Vietnam for 01 year or more;
    • The location of the retail establishment in accordance with the relevant planning in the geographical market area.
  • Establishing a retail establishment outside the first retail facility
  • Where economic needs are not required to be checked: Similar conditions for establishing the first retail establishment.
  • Where economic needs must be carried out:
    • Meet conditions such as establishing a first retail establishment
    • Meet the criteria of Economic Demand Inspection:
  • The size of the geographic market area is affected when the retail establishment is operating;
  • Number of retail establishments operating in the geographic market area;
  • The impact of retail establishments on the stability of the market and the business operations of traditional retail and market establishments in the geographical market area;
  • The effect of retail establishments on traffic density, environmental sanitation and fire prevention in geographical market areas;
  • The ability of the retail establishment to contribute to the socio-economic development of the geographical market area, specifically:
  • Job creation for domestic workers;
  • Contributing to the development and modernization of the retail industry in the geographic market area;
  • Improving the environment and living conditions of residents in geographical market areas;
  • Ability and level of contribution to the state budget.

Business license application

Foreign investors trading in goods

  • Application for business license (Form No. 01 of the Appendix issued together with this Decree).
  • The explanation reads:
    • Explaining the conditions for issuance of corresponding business licenses as prescribed in Article 9 of this Decree;
    • Business plan: Describes the contents and methods of conducting business activities; presenting business plans and market development; labor needs; assess the socio-economic impact and effectiveness of the business plan;
    • Financial plan: Report business results on the basis of audited financial statements of the most recent year in case of establishment in Vietnam for 01 year or more; explanation of capital, capital sources and plans for capital mobilization; with financial documents;
    • The business situation of goods trading activities and activities directly related to the purchase and sale of goods; the financial situation of foreign-invested economic organizations up to the time of requesting for business licenses, in case of issuance of business licenses specified in Clause 6, Article 5 of this Decree.
  • Tax office documents proving that there is no overdue tax debt.
  • Copy: Certificate of business registration; Certificate of investment registration for the sale and sale of goods and activities directly related to the purchase and sale of goods (if any).

Competence and licensing agency for trading goods: Ministry of Industry and Trade