{"id":91572,"date":"2024-05-16T12:24:09","date_gmt":"2024-05-16T04:24:09","guid":{"rendered":"https:\/\/premiatnc.com\/vn\/?page_id=91572"},"modified":"2025-02-05T16:36:14","modified_gmt":"2025-02-05T08:36:14","slug":"corporate-information","status":"publish","type":"page","link":"https:\/\/premiatnc.com\/vn\/corporate-information\/","title":{"rendered":"Corporate Information"},"content":{"rendered":"\t\t
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Corporate Information<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Vietnam Market Overview and Analysis<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Vietnam’s economy demonstrated robust growth in 2024, with GDP expanding by 7.09%, exceeding both the National Assembly’s target of 6-6.5% and the 2023 growth rate of 5.05%. This performance positions Vietnam among the fastest-growing economies in Southeast Asia, outperforming regional peers like Singapore, Malaysia, and Thailand. Projections indicate that Vietnam\u2019s digital landscape, the fastest growing in the region, will reach US $45 billion by 2025. The government\u2019s proactive efforts in national digital transformation are expected to further accelerate this growth, making Vietnam an increasingly attractive market for digital innovation and investment.<\/p>

In 2024, Vietnam attracted US$38.23 billion in registered foreign direct investment from 114 countries and territories. Disbursed FDI reached a record high of approximately US$25.35 billion, a 9.4% year-on-year increase, signaling strong investor confidence. This investment comprised 3,375 new projects totaling US$19.73 billion, US$13.96 billion in adjusted capital for 1,539 ongoing projects (a substantial 50.4% rise), and over US$4.54 billion in capital contributions and share purchases. The surge in disbursed FDI and new projects underscores Vietnam’s continued attractiveness as a key investment destination. Furthermore, Vietnam’s population of over 101 million, coupled with a large, skilled, and cost-effective workforce, enhances its appeal as a leading destination for global businesses expanding within the ASEAN region. Singapore currently leads investment in Vietnam, followed by South Korea, China, Hong Kong, and Japan<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Key Advantages of
Incorporating Your Business in Vietnam<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Government Policies that Foster Support<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The Vietnamese government offers various investment incentives, particularly attractive to foreign investors, including tax incentives like reduced corporate income tax rates and tax holidays for sectors aligned with national development goals, such as high-tech, large-scale, or socially important industries. Additional incentives include import duty exemptions for qualifying projects and land rental fee exemptions in areas with challenging socio-economic conditions or for projects requiring relocation due to urban planning or environmental concerns. Special incentives are also available for projects with significant foreign direct investment (FDI) and technology transfer potential.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Optimizing Business Processes<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Vietnam ranks third in the Emerging Asia Manufacturing Index 2024, reflecting its economic stability and resilience. The manufacturing sector grew by 8% in 2022, tripling its growth from 2020 to 2021. The country is also emerging as a potential innovation hub, with startups projected to secure US$5 billion in funding between 2023 and 2025. The government, known for its stable leadership, is committed to improving business policies, labor laws, and infrastructure, positioning Vietnam as a leading ASEAN destination for foreign direct investment.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Ideal Free Trade and Tax Agreements<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Since joining the World Trade Organization (WTO) in 2007, Vietnam has become a committed global trade partner, entering into numerous Free Trade Agreements (FTAs) and Double Tax Avoidance Agreements (DTAs). Vietnam’s FTAs, including key agreements like the RCEP, CPTPP, and EVFTA, provide trade advantages across regions such as ASEAN, Europe, and the Asia-Pacific. Additionally, Vietnam has signed over 80 DTAs, helping to eliminate double taxation by reducing or exempting taxes for residents of partner countries. These agreements are essential for foreign investors to understand and leverage for optimal tax and trade benefits.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Prime Business Location<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Vietnam benefits from a politically stable environment, with a government deeply committed to ensuring safety and enforcing comprehensive laws against terrorism and cybersecurity threats. Its strategic location in Southeast Asia positions it as a crucial hub for international trade, providing well-connected shipping routes to major markets like the US, Europe, and other Asian regions. This strategic advantage has led to lower international freight costs and a high degree of trade openness, fostering Vietnam’s role in the global economy.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Strategic Industrial Parks,
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Vietnam’s Industrial Parks (IPs) are strategically planned areas designed for production of industrial goods and provision of services for industrial production, playing a crucial role in the country’s economic growth and attracting foreign investment. IPs, located in all the North, Central, and South regions, are hubs for manufacturing, offering top-notch infrastructure, logistics, and attractive tax incentives, making them ideal for foreign investors looking to optimize production and profits. An export processing zone (EPZ) is a concentrated industrial zone specializing in the production of export goods, provision of services for export goods production, and export activities, and also has specified geographical boundaries. There are only four EPZs in Vietnam, out of which two are fully occupied. An Economic Zone (EZ) is a specific zone model in Vietnam. An EZ is characterized by a favorable investment scheme of a local\/regional government within a specified geographical area. This zone may be organized into functional areas, including non-tariff areas, bounded areas, industrial areas, entertainment areas, tourism areas, residential areas, administrative areas, as well as an export processing area. There can be many IPs established in an EZ and locating in these IPs may help manufacturing businesses enjoy a lower level of tax.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Essential Licenses for Starting a Business in Vietnam<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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To establish a new company as a legal entity in Vietnam, you are required to obtain two primary licenses: the Investment Registration Certificate and the Enterprise Registration Certificate. These documents are essential for incorporation and serve as the foundational approvals needed to legally operate your business within the country.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Beyond incorporation, specific operational licenses are necessary, depending on the nature of your business activities. Sectors such as health services, pharmaceutical manufacturing, medical equipment, hospitality, food and beverage, real estate, transportation, film production, water production, education, wine production and retail, multi-level marketing, cosmetics and supplements, promotional services, printing production, bodyguard services, etc. Each requires a one-time operational license after your company is set up. Additionally, importing special products like mining materials, weapons, chemicals, and medical supplies mandates an import license, which may need to be renewed annually in accordance with prevailing regulations.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Primary Requirements and Considerations
to Start a Business in Vietnam<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Capital Requirements<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Starting a business in Vietnam generally requires no minimum capital, but sufficient funds are needed until the business is self-sustaining. We recommend USD 25,000 to 40,000. For sectors like education, finance, real estate, insurance, and banking, capital assessment by the Department of Planning and Investment is often required.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Overseas Ownership Conditions<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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In Vietnam, foreign investors can own 100% of a company in most sectors, except for advertising, tourism, and oil, gas, and mining, which require a Vietnamese joint venture. For sectors not covered by local or WTO regulations, approval from the relevant ministry is needed.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Registering Business Address<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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In Vietnam, each business must have a registered business address. In some sectors such as trading, service,… using virtual offices instead of physical office is accepted. However, the Department of Planning and Investment of some provinces are strict in accepting virtual offices as business addresses. In this case, businesses must use a physical address to register.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Categories of Companies in Vietnam<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Vietnam, situated next to the East Sea, is a crucial maritime hub on the global stage. With 29 of the world’s 39 major maritime routes passing through this region and one of the top ten global routes navigating the South China Sea, it handles between 250 and 300 ships daily. The East Sea’s strategic location underscores its significant role in regional and global security, maritime, and economic transport.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Limited Liability Company (LLC)<\/h3>

A Limited Liability Company (LLC) in Vietnam is ideal for small to medium-sized enterprises (SMEs). It can be established with 1 to 50 corporate(s) or individual(s). The LLC offers flexibility in transferring capital contributions, making it a practical choice for businesses seeking ease of ownership transfer and a straightforward establishment process.\n<\/p><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Joint Stock Company (JSC)<\/h3>

A Joint Stock Company (JSC) is suited for medium to large businesses, requiring between 3 and unlimited shareholders, either corporate or individual. JSCs are advantageous for companies looking to transfer shares with relative ease and those interested in listing on the stock exchange. This structure supports significant growth and public investment opportunities.<\/p><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Branch Office<\/h3>

A Branch Office is suitable for investors who have been active for at least 5 years and whose operations align with those of their home country. This setup only requires a head of the branch, making it a streamlined option for businesses wanting to operate locally without the need for extensive capital or additional shareholders.<\/p><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Representative Office (RO)<\/h3>

A Representative Office (RO) is designed for investors who have been operational for at least 1 year. It does not permit direct business activities or require capital investment. The RO must have a designated head, making it a cost-effective solution for market research and establishing a presence without engaging in commercial transactions.<\/p><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t

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Frequently Asked Questions<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t<\/i><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t1. How can I set up a company in Vietnam as a foreigner?<\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t
Foreigners can register a company in Vietnam and, in most industries, own 100% of the shares. In certain sectors, a joint venture with a Vietnamese partner is required.<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
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No, you don\u2019t need to visit Vietnam. Our team can handle the incorporation process on your behalf.<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t
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You need a registered address to establish the company. This can be a virtual or shared office.<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Corporate Information<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Vietnam\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Vietnam Corporate Information<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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