Do you want to establish a training center in safety training in the field of the renewable energy in Vietnam ? We would like to send you our legal advice as bellow. Firstly, on the form of investment: Foreign investors, when establishing a project in Vietnam, must establish an economic organization managing the project. Corresponding to the two types of licenses you receive are: Certificate of investment registration (IRC) and certificate of business registration (ERC). Secondly, on investment capital for the project implementation: Investment capital is the money and the other assets to conduct investment activities. Investment capital includes capital contributed by investors and mobilized capital. Mobilized capital may come from various sources such as mobilizing from banks, investors themselves or from other organizations and individuals. Schedule of capital contribution and capital mobilization proposed by the investor is shown on the investment registration certificate. The investors have to prove financing (including both contributed capital and loan) to participate in project establishment in Vietnam. After being granted an IRC and ERC, the investors have to open a direct investment capital account at a functional bank in Vietnam to transfer contributed capital to the account of direct investment capital within the prescribed time limit. Thirdly, on the business lines Foreign-invested enterprises are only allowed to do business in the fields which are not in violation of the provisions of the law of Vietnam and in accordance with international treaties. The business activities of investors is safety training for the renewable energy. Your company can register the business line “Other education not elsewhere classified” in accordance with the law of Vietnam. Your company is in Australia, this country is a member of WTO and the business line in WTO: “Other education services” is committed. However, when applying for the Certificate of investment registration, register office shall consult with the Ministry of Planning and Investment and relevant Ministries about the business line. Because in the Vietnam’s legal system, there is no specific regulation on allowing foreign investor to do business at safety training in the field of there renewable energy. In addition, your company must be issued with a Certificate of eligibility for training of occupational safety and sanitation by The Ministry of Labor – Invalids and Social Affairs.
