Set up company in Vietnam
Because of the dynamism of the Vietnamese economy, set up a company in Vietnam has become an appealing option for many multinationals. However there are restrictions on some cases in regard to investment capital, investment area, special licenses required. The investor is suggested to consult with Vinasc’s set up company in Vietnam services for advice and service offering. Entrepreneurs should be prepare for inconsistent regulations, bureaucratic challenges, and licensing delays.
There are several ways of doing business in Vietnam, the most common being the setting up of a limited liability company. In some industries still restricted to investment by foreigners, our Clients may, however, be require to set up a joint venture company with a Vietnamese shareholder. Our corporate Clients may also open a representative office in Vietnam. Or event a branch if they are already ready to expand to this Southeast Asian market.
Foreigners are encourage to make an investment in Vietnam through direct investment by Setting up a company in Vietnam.
Set up company in Vietnam services of Vinasc will advise you
- kind of business should invest in Vietnam
- register the address of the business in Vietnam
- the legal structure of the setup company in Vietnam
- capital required to set up the company in Vietnam
- legal representative and work permit in Vietnam
- timeline to set-up a company in Vietnam
- tax liability and accounting requirement
- finally, mandatory reports submissions requirement
The limited liability company (wholly foreign-owned LLC)
A limited liability company in Vietnam can be set up with only. 1 shareholder, who can be of any nationality and does not need to be resident in Vietnam.
In order to complete incorporation, foreign-own LLC will be require to
- open a capital bank account in a local bank, required for share capital injection and transfer profit in the future;
- obtain approval for a foreign investment register certificate (IRC) which require by the government to allow the foreigner to invest in Vietnam. Approval of the IRC required a minimum capital, commonly set at USD 10,000.
During incorporation, the LLC require to provide the authorities with a registered address in Vietnam and a bank certificate of deposit for the amount of share capital.
Post incorporation, all foreign-owned LLC must submit to the authorities an annual return and annual audited financial statements. Those services also provide by Vinasc.
The Joint venture company (partly foreign-owned LLC)
A Vietnam joint venture company is commonly a standard Vietnam limited liability company. incorporated by 1 foreigner and 1 Vietnamese shareholder. Such legal structure usually correspond to a government requirement for foreigner to do bussiness in many industries, including but not restricted to: transportation service, online advertisement, agriculture and forestry, …
Vietnam joint venture company will be require to appoint a resident legal representative, open a capital bank account in local bank and obtain approval for a foreign investment register certificate (IRC)
This form will be more complicated than an LLC such as: higher capital require and longer licensing delays.
All Vietnam joint ventures are also require to provide the authorities with a register address in Vietnam, a bank certificate of deposit for the amount of capital. Annualy, the company must submit: an annual return and an audited financial statements.
Should you have interested in Vinasc’s set up company in Vietnam, please contact us as the following information, we will prepare and send you the detailed quotation for your considering.