Starting a business in Vietnam requires following specific procedures and respecting several steps. One of the most important is obtaining a business license in Vietnam, especially if you are a foreign investor or professional.
Below, our lawyers in Vietnam present the main types of business licenses available when doing business in this country. We are at your disposal during the application process.
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The main business licenses to be obtained in Vietnam
There are several industries that require applying for specific Vietnamese business permits before starting any activity. They are divided into:
- general licenses;
- industry-related permits.
Among the Vietnamese business licenses to operate in certain economic sectors, we mention import/export permits and those related to conducting professional activities, such as:
- accounting;
- engineering;
- architecture;
- hairdressing;
- cosmetics;
- travel agency licenses;
- transportation licenses;
- liquor business permits;
- express delivery licenses for couriers and postal licenses.
Apart from these, some business licenses are required for foreign companies seeking to establish their presence in Vietnam. Natural persons can also set up operations as sole traders with the help of our law firm in Vietnam.
Business licenses when starting a foreign-owned company in Vietnam
Foreign investors need to comply with additional licensing requirements when setting up companies in Vietnam. Specifically, they need to apply for:
- the Investment Registration Certificate, under which it is possible to operate in industries like education, medical services, infrastructure construction, property management;
- business cooperation licenses that enable investors to participate in large investment projects in Vietnam;
- the overseas branch license for establishing a branch office in Vietnam;
- the representative office license.
If you need guidance on any of the types of Vietnamese business licenses presented above, you can rely on our local law firm.
The trading license in Vietnam
Vietnam is one of the most important manufacturers of goods that are exported all over the world. In order to open an import/export business, after incorporating a company, the owners must also apply for a trade license in Vietnam.
This type of authorization is issued in accordance with Decree 09/2018/ND-CP, Article 5, and covers the following activities:
- retail trade, with the exception of a few products, among which we mention rice and sugar;
- import and wholesale activities of lubricants;
- retail distribution of rice and sugar;
- logistics services, with certain exceptions as provided by international agreements Vietnam participates in;
- leasing of goods;
- commercial promotion activities, except advertising;
- e-commerce;
- commercial intermediary operations.
It is also possible to apply for a trading license for the retail and distribution of books and magazines.
You can rely on our Vietnamese lawyers for support in filing for a trade license for the specific category of products you are interested in.
The express delivery license in Vietnam
Another type of business permit that can be obtained in Vietnam is the express delivery license. This authorization is issued in accordance with Article 21 of the Postal Act of 2010.
The conditions to obtain such a Vietnamese business license are:
- secure an enterprise registration or investment certificate for carrying out postal services;
- put in place a viable business plan for offering postal services;
- ensure the financial means and workforce for this line of business;
- create an information security system, as well as take measures to ensure the safety of the personnel and goods they transport for delivery.
Our local specialists can help you comply with the legal requirements imposed by the Postal Law to obtain such a business license in Vietnam.
How to apply for a business permit
The most important thing to consider is that some business licenses must be obtained prior to registering a business, while others after incorporation. The Investment Registration Certificate, Enterprise Registration Certificate, and branch, and representative office permits must be obtained before enrolment with the Trade Register.
Vietnamese business licenses that enable a company to carry out an activity in a designated industry will be obtained after registration.
If you do not know how to proceed with respect to applying for a business permit, you can rely on our law firm in Vietnam. Our specialists can help you ensure you select the right type of license.
Is it possible to obtain a Vietnamese business license online?
No, it is not possible for any of the above business permits to be obtained online, as they require in-person meetings with authority representatives. For this purpose, you can rely on our Vietnamese lawyers for support in preparing and successfully getting over the possible language barriers.
Conditions to be met by companies filing for business licenses in Vietnam
Each type of business permit is subject to specific issuance requirements. This means you or your company must meet certain regulations before applying for the desired business license in Vietnam. They often include:
- a minimum share capital and one of the best examples in this sense are financial and insurance companies;
- health and safety rules, which is often the case for restaurants, bars, hotels, and even hair salons;
- operating facilities, which is also the case for food establishments where specific areas for cooking and serving must be created;
- employee training or experience.
Our Vietnamese lawyers can help you comply with the legal requirements when applying for specific business licenses in Vietnam. After obtaining it, you can also rely on our accountants in Vietnam for support in running your operations.
Higher number of companies registered in Vietnam
According to data obtained from the Business Registration Management Agency, during the first 5 months of 2024:
- approximately 65,000 new companies were registered in Vietnam;
- this represents a 4.5% increase on a yearly basis;
- the average capital per company was USD 365,500.
Our law firm is at the service of foreign citizens and investors with various problems, including support in immigration to Vietnam. For this purpose, they can rely on our lawyers for support in applying for residency in Vietnam.
If you need assistance in filing for a business license in Vietnam, please contact our local law firm.