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Company Formation Guide
Vietnam Company Formation
Looking for establishment of a Vietnamese corporation? Get in touch with Mirr Asia for Vietnam company formation and set up you business with expert advisory, tax and management solutions.
Guide · 01
Guide to Establishing a Limited Liability Company in Vietnam
In order to establish a limited liability company in Vietnam (also known as a foreign-invested enterprise if the shareholders are foreigners), the following two requirements must be met.
Key Requirements
- Director requirement: The director of a foreign-invested enterprise in Vietnam must be a resident of Vietnam. If a foreigner wishes to establish a company by moving, it is possible to register the company after renting a place such as a hotel or Airbnb for a short period of time and receiving proof of a local residence address.
- Address requirement: The registered business address of a foreign-invested company in Vietnam must be a commercial address.
Capital requirement: There is no minimum capital requirement for IT businesses, but you must deposit a minimum of US$5,000 to US$10,000 into the company's account after the company is established. If you plan to apply for a business visa in Vietnam, we recommend that you deposit at least US$20,000.
Establishment Cost
US$ 11,350
Registered Address
US$ 850/year
Local Director
US$ 7,000/year
Included in the establishment cost:
Vietnam company establishment handling cost: US$ 3,500
- Investment Registration Certificate
- Business Registration Certificate
- Company seal registration
- Account opening arrangement
- Purchase and registration of electronic tax filing device (e-token)
- Government fees
- Notarization fees in Vietnam
- Translation fees (English to Vietnamese up to 20 pages)
- Company seal production
Annual service fee for the address of the registered business in Vietnam: US$ 850
Annual service fee for local registered directors: US$ 7,000 (US$ 4,000 if only six months of service is used)
Timeline · 02
Company Establishment Time Required
Standard Processing
At least 6 weeks (after submitting all documents to the registry)
Expedited Processing
5–7 business days (additional US$ 7,000)
Possible costs after establishment:
| Service | Fee |
|---|---|
| Employment visa + residence card (2 years) At least 4 months required | US$ 2,000/person |
| Business visa (3 months) At least 6 weeks required | US$ 500/person |
| Business visa (3 months) - Expedited Takes at least 7 business days | US$ 1,000/person |
| Accounting settlement, audit, and tax filing Separate quote after transaction details identified | Separate quote |
| Value-added tax filing Separate quote | Separate quote |
Annual Reporting Requirements
For Vietnamese companies, quarterly VAT reports, quarterly business income reports, withholding tax reports, and foreign-invested company reports must be submitted. At the end of the year, annual VAT reports, annual business income reports, and corporate tax returns must be submitted, and an audit must be conducted.
Requirements · 03
Required Documents for Foreign-Invested Company Reports
1. Natural person shareholders
- Passport: Apostille + Vietnamese consular confirmation
- Bank transaction statement: If in English, it must be translated into Vietnamese (separate quote after checking documents)
2. Corporate Shareholders
- Corporate registration certificate: Apostille + Vietnamese consular confirmation
- Director/representative passport: Apostille + Vietnamese consular confirmation
- Audit reports (past 2 years): Apostille + Vietnamese consular confirmation (if in English, must be translated into Vietnamese; if company established less than 1 year, statement of corporate account transactions required)
- Articles of incorporation: Must be translated into Vietnamese if in English
- List of directors: Must be translated into Vietnamese if in English
- List of shareholders: Must be translated into Vietnamese if in English
3. Natural person director
- Local resident director: Notarized copy of Vietnamese ID or original Vietnamese ID card + proof of residence in Vietnam within the last three months
- Foreign director (non-resident): Can be registered as chairman if moving to Vietnam; must provide apostille of passport + consular confirmation document from Vietnamese consulate
4. Lease contract for a local office in Vietnam
No registered business address?
If there is no registered business address in the local area, you can use our service to establish a company.
Subsidiary · 04
Information on the establishment of a Vietnamese subsidiary of the Hong Kong subsidiary
Total Estimated Cost
USD 14,070
HK Document Notarization
HKD 20,000 (approx. USD 2,570)
Estimated Timeline
3–5 months
1. Documents required by the Hong Kong corporation (holding company) to establish a Vietnam corporation:
- Corporate registration certificate — Notary office / Apostille notarization and Vietnamese consulate notarization
- Business registration certificate — Notary office / Apostille notarization and Vietnamese consulate notarization
- Recent annual report — Notary office / Apostille notarization and Vietnamese consulate notarization
- Articles of Incorporation — Notary office / Apostille notarization and Vietnamese consulate notarization
- Bank account balance certificate — Notary office / Apostille notarization and Vietnamese consulate notarization
- Accounting audit reports (last 2 years) — Notary office / Apostille notarization and Vietnamese consulate notarization
- DHL document shipping fee and handling fee
Cost
HKD 20,000 (approx USD 2,570)
2. Regarding the establishment of a Vietnamese corporation
Required documents:
- Scanned copy of passport / address document of Hong Kong corporation director
- Scanned copy of passport/address document of the legal representative of a Vietnamese subsidiary
- Financial statements or audit reports of Hong Kong subsidiaries for the past two years
Essential requirements for incorporation in Vietnam:
- Local director: Register at least one local resident in Vietnam as a director (Local director registration service available — USD 400/month)
- Business address: Presenting a rental contract for a Vietnamese business site (Business address rental service available — USD 3,000/1 year)
Capital: Minimum capital has no regulation, but it is usually set between USD 20,000 and USD 50,000
Vietnam corporation establishment cost: USD 11,500
Service includes:
- Prepare the Power of Attorney
- Document translation into Vietnamese and collection of notarized documents
- Handling of incorporation documents (check the status of application for incorporation and work with related departments FOLLOW UP)
- Preparation of corporate shareholder list and articles of incorporation
- Incorporation application fee (USD 610)
- Corporate registration certificate
- Registration of corporate seals in corporate seals and related departments
- Support for opening a capital account (VIETCOMBANK) — Takes 3-5 business days
- Support for opening a USD account — 7 business days
- Handling of trade license acquisition business (about 4 months)
- Business address rental service (1 year)
Required period: estimated about 3 to 5 months
Other expenses:
- Tax registration agency fee: USD 600 (takes about 1 week)
- Vietnam work visa / temporary residence card: Minimum USD 500
- Product registration fee: USD 400/product (takes about 10 business days)
- Accounting and tax expenses: USD 350/month
- Accounting audit cost: approx. USD 1,200–3,500
Annual renewal fee:
- Business registration certificate utility fee renewal: USD 130/1 year
- Registration of business address: USD 3,000/1 year
- Registration of local director: USD 4,800/1 year
Important Note
Investment Registration must be renewed once every 5 years.