How to verify a Vietnamese company
Verify a Vietnamese company on the National Business Registration Portal with its enterprise code (tax code): the status, legal name in Vietnamese, address, legal representative and business lines must match the offer.
Check this Cement offer free
Vietnam exports cement, clinker, rice, coffee and steel. Every enterprise has an enterprise code that is also its tax code. Names often have a Vietnamese and an English version, so compare the Vietnamese legal name, not only the English trading name. Most Vietnamese exporters are real and can be checked quickly; the steps below show what to look up on the national portal and what to match against the offer, the contract and the bank details before you sign or pay anything.
5 steps
- Get the enterprise code. Ask the seller for its enterprise code (tax code) and the Vietnamese legal name.
- Search the national portal. Use the National Business Registration Portal. Confirm the status, legal name, address and legal representative.
- Check the business lines. The registered business lines should cover the trade offered.
- Check the plant or warehouse. For cement and clinker, confirm the plant and the loading port with the plant itself.
- Match the bank account. The bank account must be in the company's own name in Vietnam.
Red flags
- A tax code that does not match the legal name
- A legal representative different from the signatory, with no power of attorney
- A bank account outside Vietnam in another name
- A price far below plant prices
- No loading port named
- A free webmail address
Documents to ask for
- Enterprise registration certificate. With the enterprise code, Vietnamese legal name, address and legal representative.
- English name as registered. If the offer uses an English trading name, check that it is the one on the registration.
- Power of attorney. If the signatory is not the legal representative.
- Plant authorisation. For cement, clinker or steel sold by a trading company, a letter from the plant.
- Bank account details in Vietnam. In the company's own name.
- Product specification and past inspection reports. Confirm report numbers with the surveyor that issued them.
What a sound deal looks like
A sound Vietnamese counterparty can be found on the national portal with a matching enterprise code and Vietnamese legal name, has business lines that cover the trade, and is represented by its legal representative or an attorney with a written power of attorney. It names the plant and the loading port, accepts inspection at loading by a surveyor you appoint, and receives payment into its own account in Vietnam, preferably under an LC. Check the plant and the port first: they are the easiest parts to confirm. Price and freight should make sense for the route and the vessel size you need. Write down what you checked and when, and keep it with the contract.
Next step: Free company check › · Check the whole deal free ›
FAQ
Is the English name the legal name?
Not always. The legal name is the Vietnamese name on the registration; many companies also register an English name.
Can a trading company sell plant cement?
Yes, with the plant's authorisation. Confirm it with the plant.
What is the legal representative?
The person who can sign for the company. Others need a power of attorney.
Do you check in Vietnamese?
Yes. The Deal Check reads the company registry; the Analyst Deal Check (USD 299) adds a human review in Vietnamese.
Related
General information, not legal or financial advice. Vanguard Trade Capital Goods Wholesalers DWC-LLC, Dubai South, UAE · [email protected]