E-commerce business in Vietnam is conditional business area
Currently, in the context of increasingly developing technology, online transactions are also taking place more often, quickly and conveniently, and the connection between buyers and sellers has become no longer a distance. But how to set up e-commerce business in Vietnam? E-commerce lawyers in Vietnam will share some ideas below on conditions to set up e-commerce business in Vietnam and other matters.
The number of enterprises doing their business in the field of e-commerce has increased significantly in recent years. Many foreign investors are also eyeing Vietnam for investment. The question is to how to set up e-commerce business in Vietnam taking advantage of the growing market and in the meantime recruiting technology talents from Vietnam for their e-commerce business which has the potential to tap on global market.
In Vietnam, e-commerce activity means conducting part or the whole of the process of commercial activity by electronic means connected to the Internet, mobile telecommunications network or other open networks.
The forms of organization of e-commerce activities includes:
- Sales conducted thorough e-commerce website: It is an e-commerce website developed by traders, organizations or individuals by themselves to serve their commercial promotion, sales or service provision.
- E-commerce service provision website: It is an e-commerce website developed by traders or organizations to provide an environment for other traders, organizations or individuals to conduct their commercial activities. The e-commerce service provision website includes: E-commerce trading floor; Online auction website; Online promotion website and other types of website as regulated by the Vietnam Ministry of Industry and Trade.
How to set up e-commerce business in Vietnam?
The Law on Investment in Vietnam stipulates that e-commerce business is one of the conditional business lines. Therefore, if an enterprise wishes to set up e-commerce company in Vietnam, register and conduct business activities in this field, it must meet the following conditions:
Traders, organizations and individuals wishing to set up sales e-commerce websites must be traders, organizations or individuals who have been granted personal tax identification numbers; Having websites with valid domain names and complying with regulations on management of information on the Internet and having notified the Ministry of Industry and Trade of the set-up of sales e-commerce websites.
In order to conduct business activities based on websites providing e-commerce services, traders and organizations need to be registered for business at a competent agency in accordance with law and have websites with valid domain names and complying with regulations on management of information on the Internet.
In addition, traders and organizations also need to have a service provision project which clearly states the following contents: (i) Model of organization of operations, including service provision, promotion and marketing both online and offline; (ii) Structure, utilities and main information sections on the service website; (iii) Rights and responsibilities of the trader or organization providing e-commerce services and service users.
Enterprises that wishes to do e-commerce business need to register to set up a website to provide e-commerce services and be certified by the Ministry of Industry and Trade to register in accordance with the law.
Further, the enterprises also have to apply for investment registration certificate and business registration certificate in Vietnam at the Department of Planning and Investment.
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