Import-export industry: how to register a business

Article overview

Import-export industry brings great opportunities for businesses to access international markets, expand customers and optimize profits. To participate in this field, businesses need to complete import-export registration procedures, helping to legalize cross-border trade activities. Registration not only creates favorable conditions in the transaction process but also helps businesses comply with legal regulations, enhance reputation and minimize business risks.

Register for the import-export industry
Register for the import-export industry

What is the import-export industry? The role of import and export in the economy

Import-export activities are the buying, selling and exchanging of goods between Vietnamese traders and foreign partners. According to Article 28 of the Law on Commercial 2005, import and export of goods is regulated as follows:

  • Exporting goods is when goods are taken out of Vietnamese territory or brought into a special area located in Vietnamese territory that is considered a separate customs area according to the provisions of law.
  • Import of goods means goods brought into Vietnamese territory from foreign countries or from special areas located in Vietnamese territory that are considered separate customs areas according to the provisions of law.

Import and export activities aim to meet diverse domestic needs, promote production, and exploit the competitive advantages of each country.

According to Article 3 of the Law on Foreign Trade Management 2017, import and export includes activities of temporary import for re-export, temporary export for re-import and border-gate transfer of goods. This is an international trade activity, subject to the management of customs authorities.

The role of import and export activities in the economy is extremely important, including:

  • Generate foreign currency revenue: Exporting goods helps generate foreign currency revenue, improving the balance of payments and national foreign exchange reserves;
  • Supply of machinery, raw materials, and technology: Import meets the need for machinery, raw materials and technology for domestic production;
  • GDP growth and job creation: Import-export promotes GDP growth and creates many job opportunities for workers;
  • Promoting industrialization and modernization: Import-export helps transform economic structure, promote industrialization and modernization of the country.
The role of import and export activities
The role of import and export activities

Conditions for doing import and export activities

According to Article 7 of the Law on Enterprise 2020, import and export is the right of businesses. However, to carry out this activity, businesses need to meet the following conditions:

  1. Register information about import and export activities in tax registration documents;
  2. Have a business code and tax code;
  3. Meets conditions for import-export industry according to specialized legal regulations.

For conditional import and export goods, enterprises must:

  • Enterprises must be granted a business license in the field of import and export by the Ministry of Industry and Trade or specialized management ministries, depending on the type of goods the enterprise trades. Having this license ensures that the business operates legally and complies with state regulations;
  • Exported or imported products must meet strict regulations on quarantine, food safety (if goods related to food or pharmaceuticals) and national or international quality standards. This helps protect public health and enhance product reputation in the international market;
  • Enterprises must ensure that they do not participate in the export or import of items on the State’s prohibited list, such as products that are harmful to the environment, national security or violate international commitments. This helps protect the common interests of the economy and national security.
Regulations on import and export business conditions
Regulations on import and export business conditions

Registration process for import and export activities for businesses

Enterprises carry out the registration process according to the following steps:

Step 1: Prepare registration documents

  • Business registration application for import-export company;
  • Enterprise charter;
  • List of capital contributing members/founding shareholders;
  • Certified copy of passport/ID card/CCCD of legal representative, owner, and capital contributing members/shareholders;
  • Notarized copy of business registration certificate or establishment decision if the owner or capital contributor is an organization;
  • Authorization document for the representative of the member or owner who is an organization, accompanied by a notarized copy of the authorized person’s legal documents;
  • Power of attorney for the applicant (if any);
  • Notarized copy of passport/ID card/CCCD of the person authorized to submit the application.

Step 2: Submit documents to the Business Registration Office where the business is headquartered in one of the following two ways:

  • Submit in person or electronically;
  • Processing time: 3 working days.

Step 3: Publish business information on the national electronic portal within a maximum of 30 days.

Step 4: Apply for export and import license

  • Businesses will have to follow requirements and carry out specific procedures depending on the sector or product they are exporting or importing. This requires the company to meet basic conditions and properly follow the process of applying for a qualified license for its import and export activities.

Licensing applications will depend on the specific industry and field.

Instructions for registering effective import and export activities for businesses

To ensure effective and successful registration of import and export activities. Long Phan provides the following range of services:

  • Support customers to prepare complete documents according to current regulations;
  • Support to review and check import-export business registration information;
  • Consulting customers to develop import-export business plans that best suit customer needs;
  • Representing customers to work with competent authorities on registration procedures and explanations of dossier components;
  • Answer customers’ questions throughout the operation process.

For detailed advice on registration procedures and implementing import-export activities for businesses, please contact Long Phan immediately via the hotline: 0906735386. With a team of experienced experts in business consulting. We will assist you in completing documents, ensuring compliance with regulations and optimizing the import-export process for your business.