Registration of company in Vietnam is slightly different to what an entrepreneur from another country might be used to. While the opportunities for companies based in Vietnam are compelling, the company registration process is more complex and bureaucratic than the USA, Australia and Singapore, for example.
Fortunately, the days of needing 2-3 months to register a company have passed, as has the insistence on local partners. Steady improvements are being made to processing times too. Nonetheless, there is some work to prepare for the formation of a foreign-owned startup in Vietnam. Within this article, Sophie Dao, a lawyer at GBS, a business law firm in Vietnam provides an overview on the Company Registration Process and Documents Required for Company Registration in Vietnam.
A foreign-owned Limited Liability Company (LLC) is the most common company structure for foreign-owned startups in Vietnam. For this type of company, you’ll go through a two stage process. You’ll need approval from the Department of Planning and Investment (typically in the form of an Investment Registration Certificate, IRC) for your project in Vietnam, and then an Enterprise Registration Certificate (ERC) for the creation of your company. The official timelines are about 30 days for the completion of these stages but preparation is key.
Preparation for Company Registration
1) Clarify your Business Lines and Scope
2) Check your Capital and Proposed Scale
3) Get a Company Address
4) Confirm your Ownership & Management Structure
Documents Required
For corporate investors:
- Certificate of incorporation (an authentic copy) or certificate of business registration or equivalent documents
- Latest audited financial report (an authentic copy)
- Legalized copies of Passport from Directors and Shareholders
For individual investors:
- Latest Bank Statement (an authentic copy)
- Legalized copies of Passport from Directors
For Proposed Registered Address (Residential/Commercial)
- Rent Agreement from Owner/Landlord
Of course, there are many other options when it comes to company formation, including other company structures (such as a Joint Stock Company) and activity codes (including E-Commerce).
To be advised in details, contact GBS at:
- Email: info@gbs.com.vn
iMessage | SMS | 
Whatsapp | Viber | Call: +84903189033- Website: https://gbs.com.vn