Vietnam
Incorporation package includes
- Incorporation of a Vietnam company (FDI)
- 1 year Registered Office Address
- Legal Representative & Director Services
- Business License & Permits
- Ensuring your company remains in good standing
- Providing reminders and support for annual filings and renewals
Why form a company in Vietnam?
Rapid Economic Growth
Vietnam is one of the fastest-growing economies in Southeast Asia, with a young and dynamic labor force, making it an attractive destination for investment.
Attractive Tax Incentives
FDI companies in Vietnam can benefit from tax exemptions or reductions in certain industrial zones or regions, as well as low corporate income tax rates (typically 20%, with potential exemptions for specific industries).
Access to Trade Agreements
Vietnam has signed numerous free trade agreements (FTAs), including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the European Union-Vietnam Free Trade Agreement (EVFTA), which offer access to a wider market.
Government Support for FDI
The Vietnamese government actively encourages foreign investment, offering a variety of incentives and programs designed to support FDI projects.
Growing Consumer Market
Vietnam’s growing middle class and increasing purchasing power offer significant opportunities for consumer-driven businesses.
Strategic Location
Vietnam is located at the crossroads of Asia, providing easy access to key markets in Southeast Asia, China, and the broader Asia-Pacific region.
Delivery timeline
The process of setting up an FDI company in Vietnam typically takes 30 to 60 days. Below is an overview of the key stages:
Pre-Incorporation
Choose your company name, prepare your investment plan, and decide on the structure (100% foreign-owned, joint venture, etc.).
Approval Process
Submit the Investment Registration Application to the Department of Planning and Investment (DPI) for approval. This includes obtaining the Investment Certificate.
Company Registration
After investment approval, the company will be registered with the local authorities and obtain the Business Registration Certificate.
Post-Incorporation
Finalize other operational steps, such as opening a bank account, obtaining business licenses, and completing any other required legal registrations.
Required documents
Once we receive the required documents, we will manage the entire incorporation process, ensuring full compliance with Vietnam’s laws and regulations. To incorporate a Foreign Direct Investment (FDI) company in Vietnam, the following documents are required:
Investment Application
A detailed business plan outlining the purpose of the investment, projected financials, and other key company information.
Company Structure Information
Shareholder information, including passport copies and proof of address for each foreign investor (or legal entities involved).
Legal Representative Information
Copy of passport and residential address proof of the appointed legal representative.
Investment Capital Proof
Evidence of the foreign investor’s financial capacity to fund the business (e.g., bank statement, proof of capital contribution).
Company Name
Preferred company name (subject to approval by the Department of Planning and Investment).
Business Activities
A description of the business activities that the company intends to engage in.
Proof of Registered Office
Proof of the company’s registered office address in Vietnam (this can be provided through our service).
Frequently answered questions
Find answers to common questions about our services and the company formation process. We’re here to provide clarity and support for your business journey.
Is a local director required to incorporate a company in Vietnam?
No, a local director is not mandatory to incorporate a company in Vietnam. However:
- At least one legal representative must reside in Vietnam.
- Foreign investors can appoint themselves or another foreign individual as the legal representative, provided they have a valid work permit or residence card.
If you need assistance with meeting this requirement, Speedy Incorp LLP can provide legal representative services.
What types of companies can I set up in Vietnam?
The most common business entities for foreign investors in Vietnam are:
- Limited Liability Company (LLC): Ideal for small and medium enterprises.
- Joint Stock Company (JSC): Suitable for larger businesses, allowing multiple shareholders and public fundraising.
- Representative Office: For market research or promotional activities (cannot conduct commercial operations).
- Branch Office: Allows foreign companies to conduct full business activities in Vietnam.
What are the requirements for registering a company in Vietnam?
To register a company in Vietnam, you need:
- A registered business address in Vietnam.
- A minimum capital investment, which varies by industry. Some industries require higher capital, such as real estate or banking.
- At least one legal representative who resides in Vietnam.
- A business license tailored to your specific activity.
Our experts at Speedy Incorp LLP will guide you through meeting these requirements.
What are the ongoing compliance requirements for a company in Vietnam?
Ongoing compliance requirements include:
- Annual Financial Reports: Prepare and submit to the relevant authorities.
- Tax Filings: Monthly and quarterly value-added tax (VAT) and corporate income tax filings, as applicable.
- Business License Renewal: Ensure timely renewal of your business license.
- Labor Reports: Submit employee-related reports and contributions to social insurance funds.
- Audits: Companies with foreign investment may need annual audits.
Failure to comply with these obligations can result in fines or suspension of business activities.
Can I open a bank account for my Vietnam company remotely?
Opening a bank account in Vietnam typically requires the presence of the legal representative. However:
- Some banks may offer remote account opening for international investors if all necessary documentation is provided.
- Virtual account solutions are limited in Vietnam, so traditional banks remain the preferred choice.
Speedy Incorp LLP can assist with bank introductions and documentation preparation to simplify the process.
