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Classification of construction projects in Vietnam

In Vietnam, you will probably register a new construction firm under Class III. If your business satisfies the general and unique requirements, you are permitted to engage in Class III projects without providing proof of your prior involvement in Vietnamese construction projects.

Construction Permit In Vietnam:

No matter how you choose to run your construction set up company Vietnam, a permit is required for every project. Three different types are available:

• New building permit
• Permit for repairs and renovations
• Permission to Relocate

To Get a Construction Permit In Vietnam?

A completed application will be received by the responsible agency which will then provide permission within 30 days. It will take 15 working days in the case of separate houses.

Remember that the project must be started within a year after acquiring the permit.

Construction Without a Company In Vietnam:

Foreign contractors can work in Vietnam under a construction operating license if they don’t want to form a company to do so. With this strategy, you can carry out building projects in Vietnam without having a local firm registered there. And the procedure for a company setup in Vietnam will be easy to follow.

A separate construction operating license is necessary for each new contract. You must first form a joint venture with a local partner and secure a construction contract or subcontract before you can apply for a construction operating license in Vietnam. In Vietnam, there are no standard specifications for construction contracts. A project’s eligibility requirements for foreign contractors will be laid forth during the public bidding process. The National Bidding System of the Ministry of Planning and Investment provides access to information about public bids in Vietnam.

Point Venture Contract With a Vietnamese Contractor:

Well, a company setup in Vietnam is not difficult to establish  You must sign a joint venture agreement with a Vietnamese contractor or subcontractor in order to begin construction projects in Vietnam without having your own construction company. When a task specified in the building contract cannot be carried out by a Vietnamese contractor, however, exceptions are allowed.

How Long Does It Take to Obtain a Construction License In Vietnam?

You must submit your application for a construction license to the Provincial Department of Construction or the Ministry of Construction and Provincial Department after receiving a construction contract and locating a local joint venture partner. Your application will take 25 working days to process, following which you should get your construction operating license. So that company set up in Vietnam will be easier after getting the license. And you can establish your construction business.

Setting Up an Executive Office:

If you are thinking about a company set up in Vietnam the first thing you need is to build an executive office. Before you can start building on a project, you must first secure a construction license in Vietnam and establish an executive office there.

The executive office must possess the following:

• Telephone and fax numbers, email addresses, and bank account information
• Once it is established, you must notify the Department of Construction formally of the establishment.

Purchase Shares or Invest In a Construction Company In Vietnam:

Company setup in Vietnam requires some official rules to follow. Purchase of stock in a Vietnam-based joint-stock construction business or investment in a limited liability construction firm is a further option if you do not wish to establish a construction company there. A business that already possesses the eligibility certificate for construction works, this way enables you to take part in construction in Vietnam. However, make sure to first carry out due diligence and background checks on your potential business partners before signing joint venture agreements or purchasing shares in a firm in Vietnam.

Register a Foreign-Owned Construction Company In Vietnam:

The third choice is to establish a foreign-owned company setup in Vietnam that provides general construction works for buildings and civil engineering design activities if you want to get involved in the construction sector in Vietnam on a larger scale (such as architectural design). You must first obtain ministry-level authorization before conducting any additional construction activity.