We, a company established and operating in Hong Kong, are planning to buy 85% of the capital in a domestic company in Ho Chi Minh City, what are the procedures we have to implement? How long does it take?
As the information is limited, An Nguyen Law Firm just be provided some information, but we are still lack of the basic information such as: the form of target, business lines of target… Our law firm are pleased to respond to your company general provisions as follows:
Under the provisions of the Investment Law in 2014 and decrees guiding the implementation of the Investment Law, in case the investment in the form of capital contribution in which a foreign investor held 51% or more of its chapter capital, the investor has to carry out the procedures for registration of its capital contribution, purchase of shares at authority agencies.
The time for receipt of a written notify on acceptance from the authority is 15 working days from the date of receipt of the valid file under Article 24 of Investment Law in 2014. Basically, the application file shall include a written registration for capital contribution, purchase of shares and the incorporation certificate or other equivalent document certifying the legal status of investor.
After the receipt of written notify on acceptance from the authority, the company with portion of capital contribution, shares of new foreign investor shall carry out the procedures for change of member or shareholder at business registration agency in accordance with law about business.