Investment opportunities: Overseas education counseling services in Vietnam

With the increasing demand for access to quality education, especially studying abroad, this factor has motivated many investors to participate in the field of foreign education consulting, becoming an important bridge between Vietnam and training sources in different countries around the world. This article will provide an overview of conditions for foreign investors to do business in the field of overseas education consulting in Vietnam.

1. Market access conditions

According to Vietnam’s commitments in the WTO Schedule of Commitments, the study abroad consulting service is an activity of other educational services (CPC 929) and is no longer restricted to foreign investors. However, in addition to the market access conditions, overseas education consulting services (144) are a conditional business, requiring all enterprises to comply.

2. Scope of operation

Enterprises providing study abroad consulting services have the right to perform the following activities:

• Introduction, consulting information on education policies of countries and territories;
• Advise on choosing schools, courses, occupations and qualifications suitable to learners’ abilities and aspirations;
• Organise advertising, conferences, seminars, fairs and exhibitions about studying abroad in accordance with the Law;
• Organise  enrolment and enrol students to study abroad;
• Organise necessary skills training for Vietnamese citizens to study abroad;
• Organise the sending of Vietnamese citizens abroad to study, guide and lead their parents or guardians to visit the training facilities abroad in accordance with the Law;
• Other activities related to study abroad consulting services business.

3. Regulations of Vietnamese Law

Types of educational consulting businesses include:

• Enterprises established and operating in accordance with the Law on Enterprises (2020);
• Non-business units with business functions of study abroad consulting services;
• Foreign educational institutions operating legally in Vietnam.

The common form chosen by investors is to establish a foreign-invested enterprise or purchase a capital contribution from an existing overseas education consulting service business.

4. Conditions of facilities and personnel

According to the new regulations, the Government has abolished the requirements related to the headquarters, facilities and equipment serving the business of studying abroad consulting services. However, the educational agents need to meet the following conditions for their staff:

• Have a bachelor’s or higher degree;
• Have the ability to use at least one foreign language at level 4 or higher according to the 6-level Foreign Language Competency Framework for Vietnam and equivalent (equivalent to level B2 according to the Common European Framework of Reference);
• Have a certificate of professional training in overseas study counseling as prescribed by the Ministry of Education and Training.

5. Steps to set up a company

The establishment of a study abroad consulting company is usually done through the following steps:

• Step 1: Apply for an investment registration certificate;
• Step 2: Apply for a business registration certificate;
• Step 3: Apply for a business registration certificate for overseas study consulting services.

6. Points to note

• Publicly posting the requested information at the head office and on the website of the overseas study consulting service business.
• Deploy study abroad consulting activities within 45 working days from the date of issuance of the Certificate of registration of overseas study consulting services.
• Only sign contracts for study abroad consulting; must not sign a contract to study and work at the same time.
• Must not authorise or receive authorisation from another education agent to conduct overseas study consulting service business for people wishing to study abroad.
• Periodic business report: Before December 5th, annually.