Requirements for foreigners when establishing a company in Vietnam

Pursuant:

Law 61/2020/QH14 on Investment

Law 59/2020/QH14 on Enterprises

1. Requirements, conditions

1.1. Business fields must be allowed by law:

– Banned business lines [click here]

– Conditional business lines [click here]

1.2. Passport (person), Operating license certificate (company).

1.3. Documents proves investor’s financial capacity:

Vietnam bank confimation letter of investor’s account balance, or other relevant document proving financial capacity.

1.4. Documents to prove investor has rented a place for company’s headquarter, or the place where the project will be implemented:

– Lease Agreement, and

– Documents proving the lessor’s rights to lease the place.

Note: The apartment in the apartment building (to live in) will not be approved by competent authority.

2. Investor’s options:

2.1. The types of enterprise

Investor can choose one of the popular types of enterprises as follows:

– Single-member limited liabilty company (only 1 member).

– Multi-member limited liability company (from 2 to 50 member).

– Joint stock company (unlimited members).

2.2. Chapter capital:

The investor can choose the amount of chapter capital suitable to business fields. However, the legal capital will be applied with conditional business lines.

2. Steps of establishment:

2.1. Step 1: Apply for approval to be granted the investment certificate.

2.2. Step 2: Apply for approval to be granted the business registration certificate.

2.3. Step 3: Making the company seal and Director seal.