If you want to open a company in Vietnam, you need to respect the conditions of the Company Law which is the most extensive legal framework applicable to local and foreign investors. To the last category of businesspeople, other laws on foreign investments also apply. Below, our lawyers in Vietnam explain the procedure of setting up a company in this country. We also provide tailored support to people interested in immigration to Vietnam for business purposes.
Quick Facts | |
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Types of local companies | – limited liability company with one or more shareholders, – joint stock company, – partnership, – sole trader |
Legal forms available for foreign companies | – branches, – subsidiaries, – liaison offices |
Minimum number of shareholders | – 1 for limited liability companies, – 3 for joint stock companies |
Minimum number of directors | 1 |
Resident director required (YES/NO) | No, there is no need to appoint a resident director. |
Local legal address required (YES/NO) | Yes, the company must have a local representative. |
Minimum share capital | None |
Local bank account required (YES/NO) | Yes, opening a bank account in Vietnam is necessary when setting up a company. |
Business registration steps | – documents drafting and filing, – tax registration, – obtaining an investment certificate (for foreign-owned companies), – bank account opening, – and employment registration if required |
Registration documents | – company charter, – a list of the company members, – details of the director, – declarations of the appointed officers accepting their positions |
Visit required for incorporation (YES/NO) | No, there is no need to visit Vietnam to open a company. |
Taxes to pay | – corporate tax, – value added tax, – withholding taxes fo foreign companies (foreign contractor tax), – excise taxes, – customs taxes, – land use taxes |
Corporate tax rate | 20% |
Advantages of opening a company in Vietnam | – access to a large local market, – quick registration procedure, – simple company formation requirements |
Business registration support (YES/NO) | Yes, you can rely on our lawyers in Vietnam for legal advice. |
Table of Contents
Before summarizing the business registration procedure, our attorneys in Vietnam point out that for foreign investors additional steps that will be mentioned separately will be necessary.
Here are the steps to open a Vietnamese company:
For foreign investors who decide to set up companies in Vietnam, the following steps must also be considered:
Considering the procedure can be quite demanding, you can rely on our law firm in Vietnam for complete support. If you are a foreigner and also want to move to this country to open your company, you can benefit from guidance from our immigration lawyers in Vietnam.
Generally speaking, the types of companies one can choose from are similar to those in other countries around the globe. These are:
There is also the representative office, which can be set up by foreign companies and which bears a special status in Vietnam.
By far, the simplest way to open a company in Vietnam is by registering a limited liability company.
We also have an infographic on how to set up a business in Vietnam:
The list of documents required to establish a company in Vietnam is not extensive, so here is what you need to consider:
Also, if you want to open a company in Vietnam as a foreigner, here is the list of documents to file to obtain the Investment Certificate:
In the case of a local representative, the person can be a Vietnamese residence permit holder or an external agent with offices in this country.
Here is also our video on how to open a Vietnamese business:
Here are some highlights of the requirements related to creating a company in Vietnam:
If you need support to open a company in Vietnam, contact our lawyers. You can also rely on our accountants in Vietnam for assistance in tax matters.