ameeksingh
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Setting up a company in Vietnam is a relatively straightforward process, particularly for foreign investors, thanks to the country’s business-friendly policies and growing economy. However, several minimum requirements must be met to legally establish and operate a business.
1. Legal Entity Type:
The most common types of business structures in Vietnam are the Limited Liability Company (LLC) and Joint Stock Company (JSC). Foreign investors typically choose an LLC due to its simpler governance structure.
2. Registered Business Address:
A physical address is required to register a company in Vietnam. This cannot be a virtual office and must comply with zoning laws.
3. Capital Requirements:
Vietnam does not impose a fixed minimum capital requirement, but the declared capital must be sufficient to cover the planned business activities. For most sectors, USD $10,000–$50,000 is considered acceptable.
4. Resident Legal Representative:
A company must appoint at least one legal representative who is either a resident of Vietnam or commits to residing in Vietnam long-term. This person acts on behalf of the company in all legal matters.
5. Business Lines:
All intended business activities must be clearly registered and fall within sectors open to foreign investment. Some industries may require special licenses or have ownership caps.
6. Investment Registration Certificate (IRC) & Enterprise Registration Certificate (ERC):
Foreign-owned companies must obtain both the IRC and ERC to legally operate. These certificates detail investment capital, business scope, and company structure.
Meeting these requirements ensures your company is fully compliant with Vietnamese law and ready for operation.
1. Legal Entity Type:
The most common types of business structures in Vietnam are the Limited Liability Company (LLC) and Joint Stock Company (JSC). Foreign investors typically choose an LLC due to its simpler governance structure.
2. Registered Business Address:
A physical address is required to register a company in Vietnam. This cannot be a virtual office and must comply with zoning laws.
3. Capital Requirements:
Vietnam does not impose a fixed minimum capital requirement, but the declared capital must be sufficient to cover the planned business activities. For most sectors, USD $10,000–$50,000 is considered acceptable.
4. Resident Legal Representative:
A company must appoint at least one legal representative who is either a resident of Vietnam or commits to residing in Vietnam long-term. This person acts on behalf of the company in all legal matters.
5. Business Lines:
All intended business activities must be clearly registered and fall within sectors open to foreign investment. Some industries may require special licenses or have ownership caps.
6. Investment Registration Certificate (IRC) & Enterprise Registration Certificate (ERC):
Foreign-owned companies must obtain both the IRC and ERC to legally operate. These certificates detail investment capital, business scope, and company structure.
Meeting these requirements ensures your company is fully compliant with Vietnamese law and ready for operation.