Vietnam company registration


pay fee by instalmentsbusiness setup without travelGuaranteed solutions

Since 2003, Healy Consultants Group assists our Clients with Vietnamese business set up. Our services include i) Vietnam company registration ii) determining the optimum regulatory licence iii) multi-currency corporate bank account opening iv) employee recruitment and residence visa strategies and v) office rental and warehousing solutions.

Compare different Vietnam entitiesFast solution LLCForeign-owned companyFree zone LLCRepresentative officeLocal companyJoint venture
Best use of company?Timely secure contractsUnrestricted industriesManufacturing and exportResearch and marketingAll purposesRestricted industries
How soon can you invoice Clients\sign sales contracts?1 month4 months3 monthsN/A1 month3 months
How soon can you hire staff?1 month4 months3 months3 months1 month3 months
How soon can you sign a lease agreement?1 month4 months3 months3 months1 month3 months
Travel required for business setup?NoNoNoNoNoNo
Recommended paid up share capital?US$50,000US$50,000US$50,000N/AUS$100US$50,000
Can secure trade finance?YesYesYesYesYesYes
Can bid for Government contracts?YesYesYesYesYesYes
Corporate bank account location?Citibank VietnamVietinbankHSBC VietnamSCB VietnamCitibank VietnamTechcombank
Limited liability entity?YesYesYesNoYesYes
Average total engagement costs?USD37,050US$25,745US$22,275US$18,990US$13,860US$19,740
Average total engagement period?8 months6 months5 months4 months6 months5 months

See full table

Accounting and tax considerationsFast solution LLCForeign-owned companyFree zone LLCRepresentative officeLocal companyJoint venture
Corporate tax rate on annual net profits?20%20%0-20%0%20%20%
Legally tax exempt entityNoNoYesYesNoNo
VAT payable on sales to local customers?10%10%10%N/A10%10%
Monthly VAT reporting to the Government?YesYesYesNoYesYes
Must file an annual tax return?YesYesYesYesYesYes
Must appoint an auditor?YesYesYesNoNoYes
Access to double taxation treaties?YesYesYesNoNoNo
Company registrationFast solution LLCForeign-owned companyFree zone LLCRepresentative officeLocal companyJoint venture
Minimum number of shareholders/partners?111112
Resident director/partner/manager required?YesYesYesYesYesYes
Maximum shareholding for foreigners?100%100%100%100%s0%99%
Minimum number of directors/managers?111111
Shelf companies available?YesYesNoNoNoNo
Time to incorporate a new entity?2 weeks2 months2 months2 months2 weeks2 months
Can easily convert to a PLC?YesYesYesNoYesYes
Can have preference shareholders?YesYesNoYesYesYes
Business considerationsFast solution LLCForeign-owned companyFree zone LLCRepresentative officeLocal companyJoint venture
Can invoice customers in your company name?YesYesYesNoYesYes
Restrictions on nature of business activitiesNoYesYesYesNoNo
Good entity for trademark registration?YesYesNoNoYesYes
Can secure an import and export license?YesYesYesNoYesYes
Other useful information
What will be included in my customer sales invoice?(click link)
This country has signed free trade agreements?Yes
This country is a member of WIPO/TRIPS?Yes
This country is a member of the ICSID?No
Government foreign investment approval required?Yes, if > 51% foreign-owned
Average monthly office rental? (US$ per sq m)US$30
Minimum statutory annual salary?US$190
Average monthly US$ salary for local skilled employees?US$350
VND deposit interest rate? (1 year average)6%
US$ deposit interest rate? (1 year average)0%
Overseas remittance currency controls?Yes
Banking considerations
Multi-currency bank accounts available?Yes
Corporate visa debit cards available?Yes
Quality of e-banking platform?Good
Crowd funding available in this country?Yes
Temporary physical office solutions available?YesYesYesYesYesYes
Public register of companyYesYesYesYesYesYes
You need a local resident as bank signatory?NoNoNoNoNoNo
Withholding tax on payments to individual shareholders?5%5%5%5%5%5%
Must file annual financial statements?YesYesYesYesYesYes
Withholding tax on payments to parent company?0%0%0%0%0%0%
Dividends received are legally tax exempt?YesYesYesYesYesYes
Security deposit to be kept with Government?NoNoNoNoNoNo
Must sign an office lease agreement?YesYesYesYesYesYes
Shareholders and directors documents to be attested?YesYesYesYesYesYes
Foreign director needs a tax number?NoNoNoNoNoNo
Foreign director needs a residence visa?NoNoNoNoNoNo
Shareholders and directors documents to be translated?YesYesYesYesYesYes
The entity will likely be regulated by?MPIMPIMPIMPIMPIMPI
Sponsorship by a local citizen required?NoNoNoNoNoNo
Company can hire local staff?YesYesYesYesYesYes
Maximum number of staff allowed?No limitNo limitNo limitNo limitNo limitNo limit
Expatriate to local staff ratio?NoneNoneNoneNoneNoneNone
Company can rent local office space?YesYesYesYesYesYes

Vietnam business registration summary

  1. While some industries still require foreigners to form a joint venture with a Vietnamese, Vietnam has consistently liberalized its foreign investment regime and most industries now allow full ownership by foreigners;
  2. The most popular corporate vehicle to do business in Vietnam is the limited liability company. Such entity can be registered by a single foreigner, who can be either a corporate or an individual;
  3. Foreigners starting a business in Vietnam are however required to appoint a resident director (known in Vietnam as the legal representative). To comply with this requirement, our Clients often request nominee services from Healy Consultants Group;
  4. While there is no official capital requirement to register a foreign-invested company in Vietnam, a minimum paid-up capital of US$10,000 is always informally required. This minimum amount can reach US$100,000 and above when our Client plans to sell locally manufactured products;
  5. Business setup in Vietnam is a time consuming process, taking at least four months to be completed due to the need to open a capital account and to obtain an investment certificate from the Department of Planning and Investment.

Frequently asked questions

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Contact us

For additional information on our company registration services in Vietnam, please contact our in-house country expert, Mr. Simon Guidecoq, directly:
client relationship officer - Simon