After going from a centralized economy to a market-oriented one, Vietnam has started developing at the beginning of the 1990ies. Nowadays, Vietnam relies on the goods produced and sold locally by small and medium-sized enterprises (SMEs) picking up on the international trends and managing to integrate itself in the global economy.
With a commercial legislation which provides for similar types of companies as in Western and European countries, Vietnam offers various advantages to foreign enterprisers setting up businesses in this country. Our company formation consultants in Vietnam can offer information on the commercial legislation applicable here.
You can find the main steps for company incorporation in Vietnam from the video below:
Foreign citizens interested in Vietnam company formation can set up two types of businesses:
It should be noted that wholly foreign invested companies can be opened in a few industries in Vietnam. These industries are established by the government.
One of the main reasons to establish a company in Vietnam is that it does not impose any minimum share capital. Also, the minimum number of shareholders for creating a Vietnamese company is one, as for the directors, there is no imposition related to their nationality.
When it comes to the actual company formation procedure, a foreign enterpriser must travel to Vietnam to complete the registration. Up to that point, he or she can appoint local company registration agents who can handle the drafting of the documents related to the incorporation of the business.
In order to have a fully operational company in Vietnam, one must:
Foreign investors should know that the Vietnam company registration process can take between 1 and 3 months.
For assistance in setting up a company, please contact our local company formation advisors.
