Company Registration in Vietnam 100% Digital Process

The benefits of a Vietnam company setup are as follows:

• Low-cost setup compared to other foreign jurisdictions.
• Advanced infrastructure, easing transportation and logistics.
• Trade benefits in 10 Asian nations through the ASEAN membership.
• Companies are entitled to a tax-deductible R&D fund for up to 10% profits before tax filings.
• A reduced 5% tax rate for select R&D projects for 37 years, with exemption for six years.
• It is easier to raise funds from financial institutions after company registration due to the entity’s authenticity.
• Customers choose organizations that are legit and registered with the government compared to unregistered ones, increasing your business reputation.

The documents needed for Vietnam company registration are as follows:

• A copy of the applicant’s passport.
• ID and address proof of your representative.
• Lease or virtual office address.
• A legalized copy of a power of attorney (POA).
• A beneficial ownership declaration is required when hiring a nominee director and shareholders.
• Memorandum of association (MOA) and articles of association (AOA).
• Name reservation certificate.
• Document translations from foreign to Vietnamese.

Yes, foreigners can easily apply for company registration in Vietnam, provided they appoint a lawyer or agent with a permanent address in the country.

The various structures to register a company in Vietnam are as follows:

• Limited liability company
• Partnership
• Joint stock company
• Branch office
• Limited partnership
• Joint ventures
• Representative office

Yes, as a foreign applicant, you must hire a legal representative because it is a mandatory requirement for company formation in Vietnam.

The various corporate tax slabs in Vietnam are as follows:

• 10%, 15%, and 17% rates are applicable to certain industry sectors, including tech, investment projects, and R&D.
• The nominal 20% corporate tax rate applies to most businesses.
• Small and medium enterprises enjoy a reduced 15% rate on USD 123,000 and 17% above the threshold.
• A reduced 5% rate for select R&D companies and projects.

No, it is not mandatory to register a physical presence for a Vietnam business setup. You can just obtain a virtual office address.

The timeline for company registration in Vietnam is 4 to 5 weeks. The schedule for business registration in Vietnam is as follows:

• Document preparation: 2 to 3 days.
• Name reservation: 1 to 3 days.
• Application filing: 1 day.
• Receive the investment registration certificate within 15 days.
• Final approval for company registration is provided in 3 to 5 days.
• Newspaper publication within 30 days of registration.
• Tax ID generation: during registration, within 3 to 5 days.
• Corporate bank account opening: 2 to 3 weeks

Yes, you can open a branch office of a foreign parent company, provided you hire a local agent. The entity will be completely responsible for the branch’s finances and daily operations. You must also prove that:

• Your parent organization is at least 5 years old.
• You’ve a market demand to open an office in Vietnam.

A limited liability company structure is more beneficial because it provides debt protection against the personal assets of the shareholders. It grants flexible decision-making powers. Most common amongst startups and mid-size organizations.

A partnership firm is better for legal and architectural consultancies. A branch office is a better option for foreigners seeking to extend their brand in Vietnam.

Take the steps below to set up a bank account in Vietnam:

• Contact us
• Discuss your business requirements with our consultant.
• We’ll prepare a business plan as per your instructions.
• Our associates will send you a list of banks as per your requirements.
• Once you’ve finalized a company, we’ll proceed with the application for account opening.
• To help you prepare for your bank interview, we’ll assign you a practice questionnaire.
• Once we’ve received your approval, we’ll ensure you get proper access to add-on facilities

There’s no mandate that requires a local Vietnamese director’s appointment. You just need to appoint a local agent for compliance with the registering authority. The proposed company’s director can be of any nationality.

There are at least 18 operational special economic zones in Vietnam that provide tax incentives, tariff cuts, and business-friendly governmental policies.

The standard VAT rate is 10% on most goods and services. A reduced rate applies to medicines, transportation, agricultural production, and food items.

A zero-rated VAT applies to agricultural equipment/machinery and exports.

There’s no minimum requirement for limited liability company formation in Vietnam.