Foreigners are allowed to register their company in Vietnam for starting a business. In most industries, they can own 100% of the shares of their business. In a few selected industries, company registration in Vietnam is only allowed in a joint venture agreement with a Vietnamese individual or corporate shareholder.
How can a foreigner set up a company in Vietnam?
Requirements for setting up a company in Vietnam
- #1 Foreign ownership regulations in Vietnam. …
- #2 Minimum capital requirement. …
- #3 Registered address. …
- #4 Resident director. …
- #1 Investment registration certificate. …
- #2 Business registration certificate. …
- #3 Tax registration and payment of the business license tax.
How much does it cost to set up a company in Vietnam?
|Different Vietnam entity types||Cost||Draft Invoice|
|Foreign company subsidiary LLC||US$20,740||View invoice PDF|
|Joint venture LLC||US$19,740||View invoice PDF|
|LLC with employment visas||US$22,690||View invoice PDF|
|Joint stock company||US$21,620||View invoice PDF|
How much money do you need to open a business in Vietnam?
Capital Requirements for Starting a Business in Vietnam
This means you must have enough capital to cover your expenses until the business becomes self-sufficient. We find most businesses open with around VND 230 million (US $10,000).
How can I get business license in Vietnam?
In order to do business in Vietnam, you have to register your company to the authorities to get permission and license to operate. This registration process usually takes place at the Business Registration Department of the Provincial or City Office of Planning and Investment (see Ministry of Planning and Investment).
Can foreigners buy real estate in Vietnam?
The law on land ownership in Vietnam is valid for all types of property. A foreign owner can purchase an apartment, house, villa or land. Foreign individuals and foreign entities cannot hold more than 30% of the shares of a building or more than 250 properties in the same district.
What kind of business can I start in Vietnam?
Then, Vietnam National Law will introduce about top 10 business that smart investors can do in Vietnam.
- Furniture Making and Remodeling.
- Garment and Textile Products.
- Construction and building Materials.
- Detergents and cosmetics.
- Agricultural Products Processing.
- Real Estate.
- Restaurant and Bar.
Can a foreigner own business in Vietnam?
Foreigners are permitted to own and operate their own businesses in Vietnam, either through indirect or direct foreign investment. … Businesses that are wholly foreign-owned or are participating in joint ventures with a Vietnamese business are considered to be direct foreign investments.
Does Vietnam allow foreign ownership?
If international treaties and domestic laws are silent, the licensing authority has the discretion to decide whether or not to allow foreign investment into the relevant sector. Most publicly traded Vietnamese companies are still subject to a foreign ownership limitation of 49 percent.
How do I set up a foreign company?
To register Foreign Entity you need to file an application with the concerned authorities and pay a fee. In most states, registration requires disclosure of the company name, state of incorporation/organization and the name and address of the registered agent in the state for which the application is being made.
How do I set up an LLC in Vietnam?
What documents are required to register an LLC?
- Certificate showing the amount of investment required;
- Articles of Association certificate;
- Proof of registered address;
- Information on the shareholders or members of the LLC;
- Business plan including the investment project and money that is invested; and.
Is it easy to do business in Vietnam?
Vietnam ranked 70 among 190 economies in the World Bank’s Doing Business 2020 report. Vietnam’s reforms have focused on access to credit and payment of taxes.
How do I check if a company is registered in Vietnam?
3. Check Enterprise Status. Once you are done checking the business registration information, it is essential to check whether the business is still active or has run its course. Vietnam has over 18 companies completing procedures for dissolution per day.