Foreign Company Registration in Vietnam

Vietnam is one of the fastest emerging economies in the world. For quite some time, Vietnam has become a premier agriculture exporter while also becoming an attractive destination for investment. Currently, the country opens its doors on foreign direct investment (FDI) in order to attract capital from around the world. Opening a foreign company in Vietnam is quite straightforward, but there are some things to consider.

Types of Foreign Company in Vietnam

A JSC 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.

An LLC is a legal entity that could be formed by one or more owners who put funds into the company. For foreign investors, a limited liability company is divided further into two categories:

Foreign-Owned LLC

This is a type of LLC that is 100% owned by foreign investors, which means they have full control of the business. These foreign investors will not be obliged to share profits or discuss decision-making processes with other parties. For this type of LLC, it is mandatory for foreign investors to have 3 billion VND as paid-up capital.

Semi Foreign-Owned LLC

This is a type of LLC that can also be called as a joint venture which has at least one foreign investor. In this type of LLC, foreign investors are mandated to channel at least 30% of funds as capital. After doing so, they will be eligible for land use rights just like the general Vietnamese company owners. Owners of this type of LLC could also potentially pay lower taxes.

Requirements of Foreign Company Registration 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).

Procedures of Foreign Company Registration in Vietnam​

LLC Registration Procedures

In this phase, you must obtain the IRC certificate as proof that your investment is fully registered and acknowledged by the Vietnamese government. The certificate is issued by the Ministry of Planning and Investment (MPI).

In this phase, you must obtain the ERC certificate that acknowledges your enterprise. It is also issued by the MPI.

In Vietnam, company seals are deemed as distinctive signatures of companies that certify the legality of their existence and the documents they produce

As business owners operating in Vietnam, you are obliged to comply with the existing regulations including the tax. Registering your tax will clearly define your rights and obligations in taxation.

If you enter the market for specific products like food or beverages, you’re gonna need to obtain licenses and meet requirements set by the corresponding government institution.

Prior to finishing your company registration, you must register for a bank account which will be used for all your financial transactions as a company.

Once all the other procedures are completed, your LLC registration will officially be announced on the National Business Portal.

Joint-Stock Company Registration Procedures

In this phase, you must collect all the documents necessary in order to register the Joint-Stock Company

After preparing the documents you can either submit the application directly to the business registration office of the provincial Department of Planning and Investment. You could also register online at the National Business Registration Portal using a digital signature.

For physical applications, you will have a receipt after receiving the application dossier. If everything is checked and verified, the registration certificate will be issued. For online applications, the receipt will be generated online and you will also get notifications from your email.

How can Double M Help?

Foreign Company Registration 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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Contact Us

    Double M – Vietnam Office
    The Sun Avenue, SAV5-02.21 28 Mai Chi Tho Street, An Phu Ward District 2. HCMC.