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Haiphong, as Vietnam's third-largest city and a crucial economic hub in the northern region, offers numerous investment opportunities, particularly in industrial zones and deep-sea port logistics. Investment in Haiphong is governed by both Vietnamese national law and specific regional regulations that facilitate foreign and domestic investments in the city. The Investment Law of Vietnam, along with other pertinent decrees, resolutions, and circulars, establishes the legal framework for investments, ensuring the rights and obligations of investors and creating a favorable environment for business activities.
Investors may find it necessary to consult a lawyer in various situations, such as understanding the complex regulatory environment, structuring investment projects, performing due diligence, negotiating with local partners, and ensuring compliance with Vietnamese law. Legal assistance becomes crucial when dealing with regulatory approvals, land leases, tax incentives, and protection of intellectual property rights. Moreover, if disputes arise, a lawyer can represent your interests in negotiations or litigation.
The key aspects of local laws relative to investment in Haiphong include the Law on Investment, the Law on Enterprises, tax laws, and property laws. Investors should be aware of the procedures for establishing a business entity, the classification of investment projects, the availability of preferential treatment or incentives (such as reduced tax rates and exemptions), and the regulations regarding land acquisition and use rights. Additionally, Haiphong may have particular incentives aimed at attracting investments in certain sectors or zones within its territory.
Haiphong offers incentives including reduced corporate income tax, exemptions or reductions in land rental fees, and import tax exemptions for fixed assets. Specific incentives depend on the investment sector and location within Haiphong, such as special economic zones.
Foreign investors cannot own land in Vietnam. However, they can acquire land use rights for a specified period through leases or by being allocated land by the State for investment projects.
There is no fixed minimum capital requirement for foreign investors in general; it depends on the specifics of the business sector. However, there are capital requirements for certain regulated industries, which a local lawyer or investment advisor can explain in detail.
An Investment Registration Certificate (IRC) application is submitted to the Haiphong Economic Zones Authority (HEZA) or the Department of Planning and Investment, depending on the project's location and scale. The application should include a proposal, financial plans, and other relevant documentation as per Vietnamese investment law.
Haiphong encourages investments in high-tech industries, manufacturing, export-oriented industries, research and development, logistics, and port services, among others. Each sector may have specific incentives and support.
Projects must fulfill criteria set by Vietnam's High Technologies Law, including applying modern technology, being environmentally friendly, and contributing significantly to the economy's value structure to qualify as high-tech. Eligibility for high-tech status grants additional incentives.
Foreign investors are subject to corporate income tax, value-added tax, and other relevant taxes. Tax rates and incentives are outlined in the Tax Law, with specific incentives available for investments in designated sectors or regions.
Yes, foreign investors can set up 100% foreign-owned enterprises in Haiphong in many sectors, as long as the investment complies with Vietnamese law.
The choice of legal entity—limited liability company, joint-stock company, or partnership—depends on the investment's nature and the investor's preference. Each type has different governance structures, liability implications, and capital requirements.
To protect intellectual property, investors should register their IP rights with the National Office of Intellectual Property of Vietnam. It is also advisable to include robust IP protection clauses in agreements with local partners.
Investors seeking legal advice in Haiphong can refer to resources such as the Ministry of Planning and Investment (MPI), the Haiphong Economic Zones Authority (HEZA), the Vietnam Chamber of Commerce and Industry (VCCI), and specialized law firms offering investment legal services in Vietnam.
If you require legal assistance, your next steps should involve identifying and contacting a reputable local law firm or lawyer with experience in investment law in Haiphong. Schedule a consultation to discuss your investment plans, potential legal issues, and the way forward. Additionally, consider reaching out to governmental agencies or business associations in Haiphong for further guidance.
