VIETNAM FAQ

Company Incorporation

It takes around 1 month to finish all of procedures to establish a company in Vietnam.

Foreigners are allowed to register their company in Vietnam for starting a business. In most industries, they can own 100% of the shares of their business. In a few selected industries, company registration in Vietnam is only allowed in a joint venture agreement with a Vietnamese individual or corporate shareholder.

No, you aren’t. Our team can legally incorporate your Vietnam company without your presence in Vietnam.

Accounting Auditing Taxation

All foreign companies in Vietnam are obliged to submit an annual return and are required to have their financial statements audited annually.

There are three VAT rates in Vietnam : 0% percent, 5%, and 10%, depending on the nature of the transaction. Most transactions in Vietnam will be subject to the tax rate of 10%.

The standard Vietnam corporate income tax (CIT) rate is 20%, though enterprises operating in the oil and gas sectors will be subject to rates between 32% and 50%.

Bank Account Opening

Absolutely you can. We will assist you to connect with the bank to carry out the necessary procedures to open a bank account for your company. You just need to join the video call with the bank to verify your signature.

In Vietnam, there are some good service local banks and oversea banks such as: Techcombank, VPBank (local bank); UOB, Standard Chartered (oversea banks). Please contact us to get our advice to choose the appropriate bank.

Company Management

If there is any change on the license’s contents such as: company name, headquarter address, legal director, charter capital, shareholders; we need to submit dossiers to update the license within 10 days from the date of changing.

According to the law, the Director of the Company must reside in Vietnam, in case the Director cannot be present in Vietnam, he must authorize another person who is an employee staying in Vietnam.

No, you don’t. There is no limit on the license duration. Mostly, the maximum term for a project is 50 years. We only need to renew the license if it has any changes or has been in operation for 50 years.

Visa

Except for citizens of Visa Waiver countries, all foreigners must apply for a business visa to do business or explore business opportunities in Vietnam.

To get a business visa for Vietnam, you need to make sure:

  • Your passport must be valid for at least 6 months from the departure date (Temporary passports may not be accepted)
  • 02 blank pages for visa stamp
  • The stamping fee (for visa on arrival) for a business visa is 25 USD for 1 month/3month single entry, 50 USD for 1 month/3month multiple entries, and 95 USD for 6-month multiple entry visa.
  • A sponsorship letter from a licensed company in Vietnam is required if you apply through the local embassy in your country.

As the new regulations, there are about 20 different types of Vietnamese visas including DL, DN, NG, LV, DH, HN, PV, TT, VR, SQ ..ect.

However, only some popular types of Vietnam visa:

Tourist Visa (DL)

Business Visa (DN)

Student/internship visa (DH)

Working visa (LĐ)