Are you thinking about establishing a new company in Vietnam? Vietnam is becoming an increasingly attractive destination for entrepreneurs and investors due to its flourishing economy and business-friendly legislation. Yet, understanding the business registration procedure can be difficult, especially if you are unfamiliar with the local rules and regulations.
Starting a business can present a formidable challenge. However, you need not be concerned. Express Vietnam, a prominent provider of Vietnam visa and business services since 2017, will aid you in effectively navigating this process.
We’ll walk you through the company registration in Vietnam and show you how Express Vietnam can assist you in this detailed guide.
Choose your business structure.
Express Vietnam will assess which business structure works for you at the outset of company creation based on your operations, demands, and criteria. There are two common business types: A limited liability company (LLC) and a joint stock company (JSC). An LLC corporation can employ up to 50 people, including founders and business owners, without the requirement for shareholders, while JSC, or joint stock company, must have a minimum of three shareholders.
Get your IRC, or Investment Registration Certificate.
Express Vietnam will help you acquire your IRC (Investment Registration Certificate) from the Department of Planning and Investment (DPI). in the province where you will operate. The process applies to foreign-owned enterprises, and it takes 25 business days to complete.
In addition, we will request a few prerequisites from you to expedite the certificate in a seamless and timely way; these are:
- Application Letter for implementing an investment project
- Proposal for an investment project
- Power of Attorney to staff for IRC
- Demonstration of the investor(s)’ financial capability
- Bank statement
- Copy of passport of foreign investors
Get your ERC, or Enterprise Registration Certificate.
Express Vietnam will assist you in acquiring your ERC, or Enterprise Registration Certificate, once you have obtained your Investment Registration Certificate, which is a requirement for businesses. In addition, before the department may award the certificate, you must complete the following requirements:
- Application Letter for incorporation of the VN company
- Charter of Vietnam Company
- Power of Attorney to staff for ERC
- List of members, foreign investors
- Passport copies of legal representatives, individual investors
- Investment Registration Certificate
Pay your taxes.
You must pay your taxes using an online system before your business may begin operations. Your business registration certificates include a number, which is also your legal tax identification number. Express Vietnam may assist you in gaining access through the online system, which just takes an electronic signature, and ensuring that you are completing your due diligence by adhering to tax requirements.
Make your capital contribution.
You have 90 days to make a capital contribution, whether you are a business owner or an investor, or you may suffer a penalty.
Apply for permits or sublicenses depending on your industry.
If you are in the manufacturing, logistics, recruitment, lodging, or trading industries, you may need to obtain a sublicense, which can lengthen the procedure. Express Vietnam will handle all of your permissions and processes under the law.
Ready to take your business to the Vietnamese market? Express Vietnam is here to help provide relevant guidance and support you need on this journey. Skip all the lengthy paperwork, legal complexities, and numerous fees, we’ll do the legwork for you.
Fill up the Business Service Application Inquiry, and our team of experts will contact you.
If you’re an investor in the company, you must acquire an Investor Visa for Vietnam, which can last up to a decade depending on your DT category.
Express Vietnam is pleased to offer Vietnam visa services whether you’re applying in Vietnam or your home country. Check out this page for more information on the qualifications for obtaining your Investor Visa.