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Foreign Company Establishment in Vietnam

Foreign Company Establishment in Vietnam is an intricate procedure which requires multiple documents from different institutions. As one of the world’s fastest emerging economies, Vietnam has become a premier agriculture exporter while attracting foreign investors. Currently, the Vietnamese government opens its doors on foreign direct investment (FDI) in order to attract capital from around the world. Conducting foreign company in Vietnam is quite straightforward in procedure, but there are important things to consider.

Types of Foreign Company Establishment in Vietnam

An LLC is a legal entity that could be formed by one or more owners who put funds into the company. 

  • Single-Member LLC

Single-member LLC is defined as an enterprise which is owned by an individual. This individual is solely responsible for the company’s debts, obligations and charter capital. Charter capital is the total value of assets contributed by the owner. 

  • Multi-Member LLC

A multi-member LLC that is 100% owned by foreign investors is required to have 3 billion VND as paid-up capital. Meanwhile, a multi-member LLC that is partially owned by foreigners are required to allocate 30% of their funds as the initial capital.

A joint-stock company is defined as a legal entity which is founded by at least three shareholders. In this case, they can either be individuals or organizations which hold equal quantities of shares. As joint-owners, they are each responsible for the company’s debts and liabilities in accordance with the amount of funds they put into the company.

A representative office is an office established by foreign companies in order to conduct marketing and other non-financial activities in Vietnam. It is only permitted to do liaison work, market research, or business promotions. A representative office is not allowed to generate revenue and create invoices.

A branch office is a dependent unit of a foreign company in Vietnam. Compared to other types, a branch is more limited, operating mainly in the banking and legal sector. A branch office is allowed to generate revenue in Vietnam.

Requirements of Foreign Company Establishment in Vietnam

  • Application form for business registration.
  • Company charter.
  • List of company members.
  • Copy of ID card or other identification.
  • Establishment papers.
  • Certificate of business registration.
  • Enterprise Registration Certificate (ERC).
  • Application form for business registration.
  • Company charter.
  • List of JSC members and shareholders.
  • Identification for individual members, such as ID card, passport.
  • Copy of establishment decision, business registration certificate.
  • Copy of registration documents legalized by the consular.
  • Investment Registration Certificate (for foreign investors).
  • Establishment documents
  • Local bank accounts
  • Labor contracts, payroll, insurances
  • Cashbook and hard cash
  • Tax documents
  • Annual operations report
  • Office licenses
  • Compliance procedures for expatriates
  • Document proving the parent company’s activity of at least 5 years by the time of branch registration
  • Business registration certificate of the parent company
  • Appointment letter for the head of the branch
  • Copy of financial statements of the parent company
  • Copy of the branch charter
  • Personal identification (ID card and passport) of the head of the branch
  • Letter of domicile for the branch office

How can Double M Help?

Foreign Company Establishment in Vietnam is an intricate procedure which requires multiple documents from different institutions. Double M is committed to assisting the clients through the entire process efficiently. Should you have any inquiries, please contact us.

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