Frequently Asked Questions about Vietnam

How long does it take to incorporate a Vietnam company?
Registering a Vietnam company can be completed within ten weeks.

What are the problems of setting up a 100% foreign owned company?
A foreign owned company is prohibited from operating 100% foreign-owned entities for the distribution of imported and domestically-produced goods, investment in the securities businesses, warehouse services and freight transport agency services, and maintenance and repair services of household equipment.

What type of company should I set up in order to gain access to the local market?
A Vietnamese Joint Venture company can be set up by foreign investor to trade in the local market.

How difficult is it to open a corporate bank account for a Vietnam company?
After the Vietnam company formation, opening a corporate bank account with a reputable international bank is easy.

Am I required to visit Vietnam to incorporate a company there?
No. Healy Consultants can legally incorporate your Vietnam company without you needing to travel.

What is the minimum number of directors required for a Vietnam company?
Under statutory regulations, a Vietnam company requires a minimum of one director.

Can my company be 100% foreign-owned?
Yes, a company in Vietnam can be 100% foreign-owned in selected sectors.

Is a resident director required?
No.

What is the minimum number of shareholders required for a Vietnam company?
A Vietnam company requires a minimum of two shareholders.

Are shareholder/director details available for public viewing?
Yes.

What are the minimum capital requirements for a Vietnam company?
A Vietnam Limited Liability company does not require a minimum capital to complete company formation except for a few specific business lines such as real estate, insurance, aviation services, banking and securities.

Is a Vietnam company required to submit an annual tax return and/or financial statements?
All foreign companies in Vietnam are obliged to submit an annual return and are required to have their financial statements audited annually.

For more information on any of our Vietnam corporate services, e-mail email@healyconsultants.com or telephone us at (+65) 6735 0120.

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