Company registration in Vietnam for foreign businesses

How to Register a Company in Vietnam

To start a business in Vietnam, there are several types of legal entities that foreigners can choose from. The most common and popular ones include Limited Liability Company (LLC).

An LLC is a legal entity in Vietnam that allows 100% foreign ownership. By establishing an LLC, the personal assets of shareholders are protected as the liability is limited only to their capital contributions/shares.

Another advantage of setting up an LLC is that it requires one founder only, making it one of the legal entities with the simplest corporate structure. If an LLC has more than two owners, a chairman of the Members Council needs to be appointed. Moreover, the maximum number of members is 50. With that being said, LLC is highly suitable for small and medium-sized enterprises (SME).

LLC, however, is not allowed to be listed on the Vietnamese Stock Exchange and issue public shares.

Joint Stock Company (JSC)

Setting up a JSC in Vietnam comes with its set of requirements, similar to starting an LLC.

The general procedures are as follows:
1. Apply for the Investment Registration Certificate (“IRC") - this takes 30-45 days.
2. Apply for the Enterprise Registration Certificate (“ERC”) - this takes 10-15 days.
3. Applying for any required sub-license, required licenses or certificates to operate (sub-license).
4. Submit documents and payments for post-license requirements (i.e. open bank account, business tax, e-invoice, e-signature, company stamp, bank account etc.)

Once this is done, your company is live. We will assist you throughout this entire process and will also assist you with bank account opening.