Since accession to the World Trade Organisation in 2007 Vietnam has taken steps to revamp its legal framework for business and investment, with the changes encouraging both foreign and domestic investment. Investment Law and Law on Enterprise was introduced in 2006, along with additional legislation, that aims to offer a clearer legal framework for doing business and investing in Vietnam - offering equal opportunities to both local and foreign investors alike.
To incorporate a Vietnamese company the following is required for the Business Registration Department of Vietnam:
A limited liability company offers limited liability to its shareholders and shares may not be issued to the public. This is the most simple and common form of business entity in Vietnam, offering little restriction on business activity and therefore, is the most popular form of incorporation in Vietnam.
We check that your Vietnam company name is acceptable and is not already incorporated with the Business Registration Department, certain company names are prohibited, such as names suggesting the patronage of any government or country. Prior approval by the Vietnam authorities is required.
Only one director is required, with no restrictions upon nationality or residency.
Vietnamese companies must have a legal representative who must reside in Vietnam.
Only a single shareholder is required for a Vietnamese company, with a maximum of 5 and no restrictions placed upon nationality or residency. Shareholders may be individuals or corporate entities.
There is no minimum share capital for a Vietnamese company, and the chosen amount of share capital must be fully paid up within 36 months of incorporation.
Foreigners are allowed to register their company in Vietnam. In most industries, they can own 100% of the shares of their business.
Your company must have a registered office in Vietnam, this is where documents may be legally served - we can provide a registered office in Vietnam.
Companies operating in Vietnam are required to keep accounting records, including financial statements, annual returns, income statements, etc. Accounting records must be kept in Vietnamese Dong and in Vietnamese but may be accompanied by a foreign language translation if required.
Once incorporated we provide a set of corporate documents for your Vietnam company which, includes the Certificate of Incorporation, Memorandum of Association the Articles of Association and share certificates. Copies of the company incorporation documents are sent via email and the originals from the companies registry are sent to you in a corporate folder.