Table of Contents
How much does it cost to set up a company in Vietnam?
Fees
| 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 |
Can foreigners set up company in Vietnam?
Can Foreigners Own a Business in Vietnam? Foreigners may own businesses in Vietnam. Some industries such as tourism, advertising, and entertainment require a local partner. But most businesses can be 100\% foreign-owned.
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).
How much money do I need to start a business in Vietnam?
Minimum capital requirement For many other business sectors, a capital of 10,000 USD is a base to consider before starting investment in Vietnam. The Department of Planning and Investment is the authority that determines the capital amount required in the field of business for foreign investors.
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).
What are the risks of doing business in Vietnam?
Corruption remains an issue in Vietnam. Anyone doing business in the country is likely to encounter, or hear of, corruption in one form or another. Practices such as facilitation payments, bribes and giving and receiving expensive gifts in order to develop business relationships are still a problem in certain places.
Can a US citizen own a business in Vietnam?
Opening a foreign-owned business in Vietnam is possible and even encouraged by the Vietnamese government, although the laws are complex and the process can be complicated. Foreigners are permitted to own and operate their own businesses in Vietnam, either through indirect or direct foreign investment.
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.
Can you own your 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.
Is it good to start a business in Vietnam?
Being one of the fastest-growing economies in the world, Vietnam becomes a strategic place for many foreign entrepreneurs to invest. Its relatively cheap but highly qualified population is not the only reason attracting businessmen from all over the world to set up a company in Vietnam.
Is it easy to do business in Vietnam?
Vietnam is home to quite a stable credit environment, and obtaining capital is a relatively smooth process for businesses. However, the lack of a private credit bureau can make the process a little trickier for overseas firms. Investor protection is an area in which Vietnam fails miserably.
How to set up a foreign-owned company in Vietnam?
It’s important to understand the requirements and process of establishing a foreign-owned company in Vietnam. The two most common types of legal entities in Vietnam are: Joint-stock company (JSC). An LLC can have 1 to 50 members, also known as founders or owners. Note that LLCs in Vietnam do not have shareholders.
What are the business registration requirements for a Vietnamese company?
Companies in Vietnam must also get a business registration certificate (BRC). The Department of Planning and Investment also issues this certificate. The BRC is also known as the Enterprise Registration Certificate (ERC).
How to register a foreign LLC in Vietnam?
The procedure below details the process of registering a foreign LLC in Vietnam. When registering a foreign-owned company in Vietnam, you need an investment registration certificate. The Department of Planning and Investment issues this certificate. It usually takes about a month to receive the certificate.
How much capital do I need to start a business in Vietnam?
There are no minimum capital requirements in Vietnam for most business lines. However, it must be enough to cover expenses until the business becomes self-sustaining. The Department of Planning and Investment will assess if your capital contribution is in line with your business.