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How to set up a company in Vietnam

Private investments have transformed Vietnam into one of the most powerful economies in Southeast Asia, a factor which is decisive for foreign enterprisers looking for countries with good economic results to start a business in. Vietnam is one of these countries, as the legislation related to foreign investments is very welcoming.

Foreign investors who want to set up companies in Vietnam can choose between several industries which are performing quite well at this moment. Among them, manufacturing, tourism, services and construction are the most significant.


We also invite you to watch our video on company formation in Vietnam:



Our company formation consultants in Vietnam can offer information on the Investment Law and the Enterprise Act, the most important laws related to starting a business here. In case you want to start your company in Vietnam as fast as possible, we invite you to use our company incorporation tool:
 

 

No minimum capital requirements for setting up a company in Vietnam

Which is one of the most important aspects taken into consideration by investors who want to establish companies in Vietnam. Together with the fact that the Enterprise Law provides for the two most popular types of structures for company incorporation, Vietnam is one of the most appealing countries to create a business in.

Speaking about company types, our Vietnam company registration agents remind foreign enterprisers they can open private enterprises, partnerships, limited liability companies and joint stock corporations. The limited liability company can be registered as a one-member or multiple-member company in Vietnam. 
 

Particularities when opening a company in Vietnam

Apart from being allowed to set up one of the types of companies acknowledged by the Enterprise Law, foreign investors can also choose one of the special business forms covered by the Investment Act which provides for joint ventures, business cooperation contracts and several types of arrangements with local companies.

Our local company registration specialists can explain the procedure for setting up these types of ventures. In case you would like to set up a company in another Asian country, our team can put you in touch with a reliable team of company incorporation experts in Singapore.
 

Documents related to setting up a company in Vietnam

Local and foreign enterprisers interested in setting up companies in Vietnam must first prepare the statutory documents and then file them with the Trade Registrar.
The most important ones are the Memorandum and Articles of Association which must be drafted before a public notary. Following that, the business owner must have a company seal made.

The other documents to be prepared when starting a company in Vietnam are:

  •           a list with the name and other details of the shareholders;
  •           a document which states the financial assets brought by each shareholder;
  •           a feasibility study which must indicate how the business will help the local economy;
  •           a document which explains how the project of the company will comply with the legislation;
  •           an announcement about the registration of the company which must be published three times in row in a local newspaper.


After preparing these documents, the shareholders must:
 

  1. file them with the Companies Register, together with information about the legal address of the company;
  2. open the corporate bank account which will be used for depositing the share capital;
  3. register with the tax authorities for VAT and taxation, but also for social security purposes;
  4. apply for the necessary business licenses or permits before commencing any activity.
 

Assistance in setting up a company in Vietnam

 
Foreign investors will need a local representative in order to complete the company registration process in Vietnam. Our local consultants can help them with:
 
  • the preparation of all the documents needed to create the new company and their filing with the Business Registration Office;
  • the opening of a limited liability company can be completed remotely, so we only need a power of attorney to start the process;
  • we can also help with the opening of the bank account and offer virtual office solutions;
  • our services also include accounting and bookkeeping for any type of company foreign investors want to open;
  • we can also help those who want to buy ready-made companies in order to reduce the time between the registration and the starting of operations of a new company.

 

If you want to open a company and need help with the company registration procedure, please feel free to contact our local agents.