Local Company Registration in Vietnam

Vietnam has merged as an exciting destination for international investment. Many foreigners have come to the country to establish their own company. However, it must be understood that local companies will always be the bedrock of the country’s economy. Vietnam citizens are encouraged to establish their own company. According to the terms and provisions of the Enterprise Law of 2020, there are two types of local companies for Vietnam citizens.

Types of Local Companies in Vietnam

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 is defined as an enterprise with more than one member. These members are responsible for the debts, obligations, and the amount of capital contributed to the company as a whole. Members of this company are a minimum of two to fifty members. A multi-member LLC must have a Members’ Council that has a chairman and director.

Requirements of Local Company Registration in Vietnam

  1. Business Registration Application
  2. Company Charter
  3. List of shareholders and founding members
  4. Authentication papers for the members and legal representative
  5. Personal identification of the members and legal representative
  6. Capital authorization document

Procedures of Local Company Registration in Vietnam​

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.

How can Double M Help?

Local company registration in Vietnam is a process that involves multiple documents and applications to various governmental institutions. With Double M’s service, we will ensure your company completes the registration successfully.

Why Double M

Contact Us

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