Open a Subsidiary in Vietnam
Our company formation consultants in Vietnam can explain the features of subsidiaries registered in this country.
You can also watch our video on how to set up a subsidiary in Vietnam:
What are the requirements to open a subsidiary in Vietnam?
The Vietnam law is very permissive with foreign companies seeking to operate on the local market through subsidiary companies. This is because the government is very keen on attracting new foreign investors.
The requirements for creating a subsidiary in Vietnam are:
- in terms of shareholding, the subsidiary may be solely owned by the foreign company, unlike other countries where a local partner may be required;
- in terms of management, the subsidiary must appoint at least one director who can be a foreign citizen, but who needs to obtain a work visa and have at least one year of experience on a management role;
- in terms of capital, the minimum amount of money accepted is 10,000 USD.
Also, the Vietnam subsidiary must have a registered address in this country. Our Vietnam company registration specialists can explain each point of the requisites mentioned above. In case you want to set up a subsidiary in another Asian country, for example in Singapore, we recommend our local partners - OpenCompanySingapore.com.
We are also at the service of entrepreneurs who want to open bank accounts in Vietnam.
Registering the subsidiary company in Vietnam
Once all the requirements are complied with, the parent company start the incorporation procedure of the Vietnam subsidiary. This procedure implies:
- preparing the Articles of Association and the bylaws of the company;
- opening the corporate bank account;
- obtaining a foreign investment certificate.
The documents mentioned above, including a bank deposit slip, must be filed with the Business Registrar in Vietnam. It should be noted that the share capital must be deposited within 12 months from the registration of the subsidiary.
For more information or assistance in opening a subsidiary, please contact our Vietnam company formation advisors.