Impacts of the Implementation of Corporate eID in Vietnam
According to the Decree on Electronic Identification and Authentication (Decree No. 69/2024/ND-CP) issued by the government of Vietnam, corporate electronic identification and authentication will be fully implemented in Vietnam from 1 July 2025. Existing accounts on the National Public Service Portal and other government platforms will be deactivated. Corporations shall handle administrative licensing and registration procedures, tax filing, etc. through authenticated corporate electronic identification (eID) accounts.
Therefore, starting from 1 July 2025, all corporations registered in Vietnam, including domestic and foreign-invested corporations, are required to apply for a corporate electronic identification account, which shall be authenticated by their legal representative through their level-2 electronic identity (VNeID) account, to avoid adverse effects on their daily operation.
At present, the foreign legal representative of a Vietnam corporation shall hold a valid temporary or permanent residence card in order to apply for a level-2 VNeID account. Therefore, the existing corporations registered in Vietnam shall apply for work permit and temporary residence card for their foreign legal representatives as soon as possible, which enable the legal representative to apply for a level-2 VNeID account and complete authentication. If the foreign legal representative is not eligible for a work permit and temporary residence card, the corporation shall replace its legal representative with a foreigner who is qualified for a work permit and temporary residence card or a Vietnam citizen as soon as possible.
Foreign investors that plan to invest and register corporations in Vietnam should weigh carefully whether the relevant legal representative can successfully apply for a level-2 VNeID account when selecting the candidate for the legal representative of their Vietnam corporation. As far as foreign legal representative is concerned, that is to consider whether the corporation can successfully apply for a work permit and temporary residence card for the foreigner.
KAIZEN Group is equipped with experienced and highly qualified professional consultants and is therefore well positioned to provide professional advices and services in respect of the formation and registration of company, application for various business licences and permits, company compliance, tax planning, audit and accounting in China. Please call and talk to our professional consultants for details.
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