SBLAW would like to provide advice on possibilities of setting up a 100% foreign invested company practicing dentistry in Vietnam as follows:
1. SETTING UP FOREIGN INVESTED COMPANY IN VIETNAM
The establishment of a FIC in Vietnam requires an Investment Certificate and a Certificate ofBusiness Registration from the licensing authority.
Depending upon the location of thecompany, the licensing authority may be the Provincial People’s Committee (for companieslocated outside industrial or export processing zones) or the provincial Industrial and ExportProcessing Zones Management Authority (for companies located in industrial or exportprocessing zones).
We would like to clarify that the procedure for establishment of a FIC inVietnam generally takes a rather long time in comparison with other countries in the region.
Our practical experiences show that although the total time for establishment of a foreigninvested company as stipulated under Vietnam Investment Law 2014 is only 15 days, theactual process may take a longer time due to that the competent authority must consult otherrelevant offices to evaluate the investment project.
With respect to several cases that involveswith relocation of 10,000 people or more in highlands; 20,000 people or more in other areasor requirement for changes of land purposes or project in several special field such asConstruction and operation of airports; air transport; Construction and operation of national
seaports; Petroleum exploration, extraction, and refinery etc, it shall require for approvalfrom the National Assembly, Prime Minister or Provincial People Committee before startingthe licensing process. In this case, we assume that your case is not subject to suchrequirement for approval. However, we reserve our right to re-quote our professional fee andamend the work schedule if your case is subject to approval of the National Assembly, PrimeMinister or the Provincial People Committee. In order to setup a FIC, it shall require you toundergo two following steps:
Step 1: Obtainment of Investment Certificate. The Law requires that within 15 working daysfrom submission of the application dossier the competent authority shall have to issue theInvestment Certificate for Foreign Investor. However, having preliminarily discussed withthe Licensing Authority, we do not much expect that the licensing authority can comply withthis requirement in practice, especially, those relating to conditional investment sectors. Forgranting the Investment Certificate, the relevant licensing authorities shall evaluate thelegitimacy and the feasibility of such Investment Project to determine on granting of the Investment Certificate on the following basis:
Legal framework including Vietnam’s WTO Commitments, Vietnam InvestmentLaw, Vietnam Enterprise Law, Regulations applicable to specific industries as well as the master economic development plan of the city or province that the FIC shall register its head-office.
Your financial ability, investment capital to put in the Investment Project, facilitiesand human resources serving the implementation of such investment project inVietnam.
Step 2: After obtainment of Investment Certificate, Client shall be required to obtain theCertificate of Business Registration. The Law requires that within 05 working days fromsubmission of application dossier, the competent authority shall have to issue the Certificateof Business Registration for forming the Foreign Invested Company.
2. OUR SPECIFIC COMMENTS
Dentistry is classified to CPC 9312. Under Vietnam-WTO Commitment, foreign investor isallowed to setup wholly foreign invested company for practicing dentistry. However, in orderto obtain business license for practicing dentistry, Client must satisfy following conditions:
– Minimum investment capital for a dentistry clinic in Vietnam is 200,000USD (Two hundred thousand US Dollar);
– Construction and designing: Dentistry clinic must be in a fixed location andseparated from daily-life activities of surrounding households. It must be built firmlyand well lit, and have dustproof ceilings, walls and floors made of easy-to-cleanmaterials.
Furthermore, the dentistry must have medical examination and treatmentrooms which are at least 10m2 large each and a place for patient reception, exceptrooms for medical examination consulting by phone and rooms for health careconsulting via telematic media and medical equipment. If you intend to perform
operation, including dental implant technique, you must also have an operation roomwhich is at least 10 m2large;
– Medical equipment: The Dentistry clinic must have sufficient medical equipment and instruments suitable to the scope of registered professional activities and havinganti-shock medicine boxes and sufficient specialized first-aid medicines;
– Personnel: The person in charge of professional and technical activities of a dentistryclinic must be a doctor having a practice certificate relevant to dentistry and havingconducted medical examination and treatment for at least 54 months in dentistry. In
addition, other persons working in this clinic and wishing to conduct medical examination and treatment must have a practice certificate and may only conductmedical examination and treatment within the scope of their assigned jobs. Theassignment of jobs must be suitable to the scope of professional activities stated intheir practice certificates;
Scope of professional activities: A dentistry clinic in Vietnam shall be only allowed to carry out following activities:
·Examination and treatment of common diseases and first-aid for maxillary and facial wounds;
·Minor operations to prevent scars of facial minor wounds of under 2 cm;
·Temporo-mandibular joint adjustment;
·Superficial laser treatment;
·Treatment of gum (alveolaris) diseases;
·Lancing of tooth abscesses, tartar removing and tooth extraction; ·Dental prosthesis;
·Dental care and endodontological treatment;
·Simple implant of one or two teeth per time of manipulation (particularly for submandibular incisors, the maximum number per time of implant is four) provided doctors directly perform the implant technique have dental implant certificates granted by a medicine university or hospital at provincial or higher level.
Dental clinics are not allowed to perform cuboid bone grafting for implant or perform implant for patients suffering progressive adult diseases which might affect implant quality;
·Dental minor operation;
·Other professional techniques as approved by provincial-level Health Department directors based on the actual capacity of practitioners and conditions of medical equipment and physical foundations of each clinic.
If you would like further information on Setting up a company practicing dentistry in Vietnam, please either email to our Partners at: firstname.lastname@example.org or call to our Office:
Ha Noi Office: +84 (4) 62 62 0246
HCM Office: +84 (8) 35 208 101.
– See more at: http://www.sblaw.vn/entry/setting-up-a-company-practicing-dentistry-in-vietnam#sthash.KB9Qsldd.dpuf
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