Establishing a business in Vietnam has become increasingly accessible, especially due to advancements in administrative processes, legal frameworks, and entrepreneur-friendly policies. Nevertheless, a thorough understanding and compliance with specific legal regulations are still essential.
With years of experience operating in Vietnam, the dedicated team at LawPlus, comprising seasoned lawyers and specialists, has successfully supported numerous domestic and international clients in setting up businesses in the country. Therefore, this guide aims to provide an in-depth look into the procedure for establishing a business in Vietnam.
Table of Contents/Mục lục
1. Eligible Entities for Establishing a Business in Vietnam
Under the Law on Enterprises 2020, a wide range of individuals and organizations can establish businesses in Vietnam, provided they meet the stipulated legal requirements. These include:
- Individuals: First of all, anyone with full civil capacity as per the Civil Code is eligible. Typically, this requires being at least 18 years old and having the ability to conduct legitimate business activities.
- Organizations: Additionally, as defined in Article 17 of the Law on Enterprises, eligible organizations include economic, social, and political entities as well as other legally recognized units. These entities can invest, contribute capital, and establish businesses as independent legal entities, provided they meet requirements related to charter capital and organizational structure.
- Foreign Nationals: Furthermore, foreign investors can establish businesses in Vietnam through models like limited liability companies or joint-stock companies. This is governed by the Law on Investment 2020 and the Law on Enterprises 2020. However, specific conditions, such as ownership ratios and minimum capital thresholds, apply depending on the industry.
2. Process of Establishing a Business in Vietnam
Step 1: Choosing a Suitable Advisory Unit
To begin with, collaborating with a reliable law firm, consulting company, or experienced specialist is key to a smooth establishment process. These advisors provide practical insights into regulations and guide clients through each step, thereby minimizing risks and challenges during both the setup and operational phases.
Step 2: Preparing the Registration Dossier
Next, accurate dossier preparation is crucial for successful enterprise registration and must align with Article 22 of Decree No. 01/2021/ND-CP. Required documents typically include:
- Company Charter.
- Application Form for Business Registration.
- Legal Documents for owners, members, shareholders, or representatives. Foreign-issued documents must be legalized and translated.
- List of Founding Shareholders/Members (if applicable).
- Investment Registration Certificate for foreign investors (as per the Law on Investment 2020).
- Finally, other specific documents depending on the enterprise type.
Step 3: Submitting the Registration Dossier
Once the dossier is complete, it must be submitted to the Business Registration Office within the Department of Planning and Investment in the province or city where the business is based. Then, the office reviews the submission for completeness and validity.
Step 4: Verification and Issuance of the Business Registration Certificate
Following this, as specified in Article 28 of the Law on Enterprises 2020, the Business Registration Office will verify the dossier and issue a Business Registration Certificate if all requirements are met. The verification process typically takes between 3–5 business days.
Step 5: Post-Registration Procedures
Finally, after obtaining the Business Registration Certificate, additional steps are required to officially commence operations. These include:
- Initial tax registration.
- Carving a company seal.
- Opening a corporate bank account.
For further guidance on essential post-registration tasks, consult our comprehensive article SPECIAL GUIDE FOR FOREIGN INVESTORS
3. LawPlus: Comprehensive Support for Establishing Businesses in Vietnam
With extensive experience in legal and business consulting, LawPlus provides tailored support for setting up businesses in Vietnam. We recognize the distinct needs and legal nuances of every enterprise, offering:
Why Choose LawPlus?
- Expert Guidance on Business Models: Helping you select business models aligned with your goals, industry, capital, and staffing needs, while ensuring compliance and efficiency.
- Meticulous Documentation Support: We prepare complete registration dossiers, freeing you to focus on your business vision as we handle complex legalities.
- Representation & Liaison Services: LawPlus acts on your behalf, submitting and tracking your dossier, and interacting with authorities to streamline the certification process.
- End-to-End Post-Establishment Assistance: From tax registration to operational readiness, we help you every step of the way to ensure your business runs seamlessly.
- Guaranteed Confidentiality: All client information is strictly protected to maintain the highest standards of privacy and security.
For inquiries or legal support, contact us via:
- Phone/WhatsApp/Viber/Zalo: +84 965 052 039 / +84 966 008 030
- Office address: Room 4A, 4th Floor, No. 86 Xuan Thuy Street, Thao Dien Ward, Thu Duc City, Ho Chi Minh City.
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