Vietnam’s economy has shown promising growth after gaining admittance in the World Trade Organisation (WTO). This opened doors to foreign investors as a result of which company formation in Vietnam started gaining immense popularity. Hi-tech companies have claimed that Vietnam offers a great potential for research and development as a result of its state-of-the-art infrastructure and highly adept workforce.
Vietnam also has a flourishing manufacturing sector due to the introduction of a large number of Open Economic zones and lucrative tax incentives.
The apparel industry in Vietnam is on its way to becoming a booming sector.
Vietnam has been a great beneficiary in the US-China Trade War and the same benefits have acted as a catalyst in the Vietnamese Economy whose positive impacts are far reaching in character.
Foreign investors who incorporate a company in Vietnam can own 100% shares in the business in certain sectors.
Vietnamese companies recording tax losses can carry them forward for up to 5 years
REQUIREMENT TO OPEN A COMPANY
1 Director. In case there are more than two legal representatives, one should be a Vietnam resident
The required minimum capital depends on the business line, objectives, scale of the investment project
Locally registered address.
Certificate of incorporation for the company investor, ID or passport for the individual investor
Documents proving the financial capacity of the investor
Documents proving the experience of the investor
Preparation of Company documents including M&AA (memorandum and articles of incorporation) company minutes, and list of members, etc.
Obtaining Investment License from authority
Deposit of Capital in bank account
Obtain the Seal and Certificate of Seal Sample Registration
Assistance in applying for Investment Registration Certificate (IRC), Enterprise Registration Certificate (ERC) and Trade License.
Opening of Bank Account
Translation Services (if required)
The exact time period for company formation in Vietnam varies depending on objectives, scale, location, time, and schedule for project execution of the investor and project decisions on investment policies of the competent authorities.