Skip Ribbon Commands
Skip to main content
Link Web
Business > Posts
Starting a BusinessSunday, 03/20/2005, 06:56

Charter of an enterprise with 100% foreign owned capital

The following owner(s) wish to establish an enterprise with one hundred (100) percent foreign owned capital in the Socialist Republic of Vietnam
CHARTER OF AN ENTERPRISE WITH 10

 

 

CHARTER OF AN ENTERPRISE WITH 100% FOREIGN OWNED CAPITAL

 

Article 1

The following owner(s) wish to establish an enterprise with one hundred (100) percent foreign owned capital in the Socialist Republic of Vietnam:

Name of company or individual:

Authorized representative:

Title:

Nationality:

Permanent address:

Head office:

Telephone:....................................... Fax:............

Main business line:

Certificate of incorporation of company:

Register at:.......................................

(Note: If investor comprises many members, each member shall provide all above details).

Article 2

The enterprise with one hundred (100) percent foreign owned capital is established in the form of a limited liability company and has legal person status in accordance with the law of Vietnam.

Article 3

The enterprise with one hundred (100) percent foreign owned capital wishes to be established in the socialist Republic of Vietnam for the purpose of: (Describe objectives of production and business of enterprise.)

CHARTER OF AN ENTERPRISE WITH 100% FOREIGN OWNED CAPITAL

Article 1

The following owner(s) wish to establish an enterprise with one hundred (100) percent foreign owned capital in the Socialist Republic of Vietnam:

Name of company or individual:

Authorized representative:

Title:

Nationality:

Permanent address:

Head office:

Telephone:....................................... Fax:............

Main business line:

Certificate of incorporation of company:

Registered at:.......................................

(Note: If investor comprises many members, each member shall provide all above details).

Article 2

The enterprise with one hundred (100) percent foreign owned capital is established in the form of a limited liability company and has legal person status in accordance with the law of Vietnam.

Article 3

The enterprise with one hundred (100) percent foreign owned capital wishes to be established in the socialist Republic of Vietnam for the purpose of: (Describe objectives of production and business of enterprise.)

Article 4

The name of the enterprise is ������ (in Vietnamese): the transaction name of the enterprise in a commonly used foreign language is ������.

The address of enterprise:

Head office:......................

Main factory/workshop:

Branch (if any):

Representative office (if any):

Production capacity: Goods/services in the year in which the production becomes stable.

Split into main and auxiliary products (if applicable).

The products of the enterprise shall be marketed as follows:

Vietnamese market:��..% of products.

Foreign markets:���.% of products.

Any /other commitments: (such as the progress and the contents of the localisation program for mechanical, electric and electronic products, and so forth. )

Article 5

The total invested capital of the enterprise shall be����.

The legal capital of the enterprise shall be����in���..(State method of contribution clearly.)

The time-limit for implementation of legal capital contribution shall be as follows: (State clearly schedule and time for completion of bringing capital into Vietnam.)

Article 6

The term of operation of the enterprise is���� years commencing from the date of issuance of the investment licence. Any changes to the term of operation of the enterprise shall be reported by the investors to the investment licence issuing body for approval.

Article 7

The schedule for assigning part of the capital of the enterprise to economic organization(s) of Vietnam or transferring to the form of a joint venture enterprise (if applicable): (State clearly the schedule and conditions for assignment in accordance with the provisions of article 15 of the law on Foreign Investment in Vietnam.)

Article 8

The schedule for implementing this project from the date of issuance of the investment licence shall be as follows:

Construction: from month��

Equipment installation: from month��

Trial operation: from month��

Official production: from month��

Article 9

The enterprise uses��..as the monetary unit for accounting purposes.(Specify currency) Conversion of this currency to other currencies or vice-versa shall be carried out at the official exchange rates published by the State Bank of Vietnam at the time of actual conversion.

The enterprise shall effect and finalise payments through accounts in Vietnamese and foreign currencies opened at a bank of Vietnam, or a joint venture bank, or a foreign bank branch in Vietnam, or an overseas bank subject to approval of the State Bank of Vietnam

Article 10

The accounting system used in the enterprise is ����(provides), must be approved by the Ministry of Finance of Vietnam and under the supervision of the authorized Vietnamese financial body.

The depreciation rates of fixed assets of the enterprise shall be in accordance with the provisions of the Ministry of Finance of Vietnam.

The fiscal year of the enterprise commences on��..and ends on ���every year. For the first year, the fiscal year of the enterprise shall commence on the date of issuance of the investment licence and end on��.

The enterprise shall prepare annual financial reports and shall be audited by an independent auditing company with the provisions on auditing of the law of Vietnam.

Article 11

The assets of the enterprise shall be ensured at��..(state name and address of insurance organization)��.and shall not be nationalized, appropriated or transferred to other owners by administrative measures.

Article 12

The enterprise shall establish a production development fund, a welfare fund and other funds. The operational mechanism, scope, sources and principles for use of each fund shall be decided by the general director on the basis of accrued profits and in conformity with the provisions of the law of Vietnam.

Article 13

The enterprise shall fulfil all taxation obligations and other financial obligations to the State of Vietnam in conformity with the law of Vietnam and as stipulated in the investment licence.

Article 14

The authorized representative of the enterprise before the courts, arbitration organizations and State bodies of Vietnam is����, nationality���..passport number���..(in cases where the general director of the enterprise does not live permanently in Vietnam).

Article 15

All employees of the enterprise shall be recruited and employed properly in accordance with the law of Vietnam. Vietnamese citizens shall be given priority in recruitment.

The rights and duties of employees shall be ensured by labor contracts signed between each employee and the general director of the enterprise, the collective labor agreement signed between the representative of the labor collective and the general director of the enterprise, and the provisions on employment of the law of Vietnam.

Article 16

Plan for training management personnel, technicians and workers: (Provide details)

Article 17

The enterprise may be terminated its operations ahead of schedule or terminated in the following cases: (Describe in detail the cases in accordance with the provisions of Article 52 of the Law on the Law on Foreign Investment.)

Article 18

All other matters relating to the operation of the enterprise which are not provided for in this charter shall be dealt with by the enterprise in accordance with the law of Vietnam and the provisions of the investment licence.

Article 19

This charter may be supplemented and /or amended on the basis of a proposal made in writing by the authorized representative of the enterprise as stipulated in article 14 of this charter and subject to approval by the investment licence issuing body.

Article 20

This charter shall take effect from the date of issuance of the investment licence.

Article 21

This charter is signed at ��..(location)�on�.(date)�..in��..originals Vietnamese and in��..(a commonly used foreign language). Both versions are of equal legal validity.

 

INVESTOR

(Signature, title and seal)

(Note: in cases where there are more than one investor, state clearly the name of each investor and affix the appropriate seals(if any).)

 

 

 


Views: 1 Print Back
 
Date: