{"id":93466,"date":"2026-08-11T16:14:56","date_gmt":"2026-08-11T08:14:56","guid":{"rendered":"https:\/\/premiatnc.com\/vn\/?p=93466"},"modified":"2026-08-11T16:28:33","modified_gmt":"2026-08-11T08:28:33","slug":"doing-business-in-hanoi-vs-thailand","status":"publish","type":"post","link":"https:\/\/premiatnc.com\/vn\/blog\/doing-business-in-hanoi-vs-thailand\/","title":{"rendered":"Comparative Analysis of Doing Business in Hanoi, Vietnam vs Thailand"},"content":{"rendered":"\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-7387b849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\">\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"597\" src=\"https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2024\/10\/VN-Comparative-Analysis-of-Doing-Business-in-Hanoi-Vietnam-vs-Thailand-1024x597.jpg\" alt=\"\" class=\"wp-image-93470\" srcset=\"https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2024\/10\/VN-Comparative-Analysis-of-Doing-Business-in-Hanoi-Vietnam-vs-Thailand-1024x597.jpg 1024w, https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2024\/10\/VN-Comparative-Analysis-of-Doing-Business-in-Hanoi-Vietnam-vs-Thailand-300x175.jpg 300w, https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2024\/10\/VN-Comparative-Analysis-of-Doing-Business-in-Hanoi-Vietnam-vs-Thailand-768x448.jpg 768w, https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2024\/10\/VN-Comparative-Analysis-of-Doing-Business-in-Hanoi-Vietnam-vs-Thailand.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/api.whatsapp.com\/send\/?phone=85256281754&amp;text&amp;app_absent=0\" target=\"_blank\" rel=\"noreferrer noopener\"><img decoding=\"async\" width=\"1024\" height=\"148\" src=\"https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2023\/05\/BTN-4-1024x148.png\" alt=\"\" class=\"wp-image-89394\" srcset=\"https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2023\/05\/BTN-4-1024x148.png 1024w, https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2023\/05\/BTN-4-300x43.png 300w, https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2023\/05\/BTN-4-768x111.png 768w, https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2023\/05\/BTN-4-1536x222.png 1536w, https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2023\/05\/BTN-4-2048x296.png 2048w, https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2023\/05\/BTN-4.png 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n<div style=\"border: 1px solid #ffffff;border-radius: 30px;background-color: #f3f3f3;padding-top: 30px;padding-left: 35px;padding-right: 35px;padding-bottom: 30px\" class=\"ub-styled-box ub-bordered-box wp-block-ub-styled-box\" id=\"ub-styled-box-b3c9a0d5-ec1c-4f1b-ae64-b1f7095ea50b\">\n<h2 class=\"wp-block-heading has-medium-font-size\" id=\"ub-styled-box-bordered-content-\">Key Takeaways<\/h2>\n\n\n\n<ul style=\"padding-left:23px\" class=\"wp-block-list\">\n<li style=\"line-height:1.3\">Hanoi recorded strong economic momentum in 2025, with GRDP growth of 8.16%, while Thailand\u2019s national GDP grew by 2.4% during the same year. The figures measure different geographic scopes and should not be treated as a direct ranking.\u00a0<\/li>\n\n\n\n<li>Vietnam\u00a0permits\u00a0100% foreign ownership in many sectors, subject to foreign-investor market-access conditions and sector-specific restrictions. Thailand likewise does not impose a universal 49% foreign-ownership cap; restrictions depend on the activity and the Foreign Business Act.\u00a0<\/li>\n\n\n\n<li>From 1 July 2026, qualifying enterprise-registration procedures in Hanoi have a two-working-day processing target after receipt of the prescribed dossier. Foreign-investment approvals, investment\u00a0registration\u00a0and sector\u00a0licences\u00a0are separate procedures.\u00a0<\/li>\n\n\n\n<li>Investors should account for major recent compliance changes, including Vietnam\u2019s beneficial-ownership disclosure regime, revised tax rules, updated electronic-invoice framework and Thailand\u2019s activity-specific foreign-business requirements.\u00a0<\/li>\n<\/ul>\n\n\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">When comparing the business environments of Hanoi, Vietnam, and Thailand, both markets offer distinct advantages for investors. Hanoi combines rapid economic growth, access to Vietnam\u2019s manufacturing and technology ecosystem, competitive operating\u00a0conditions\u00a0and an expanding consumer market. Thailand offers a mature industrial base,\u00a0established\u00a0infrastructure, extensive\u00a0supply\u00a0chains\u00a0and a well-developed investment-promotion framework.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This article compares their economic environments, company-establishment requirements, foreign-ownership rules, government\u00a0support\u00a0and taxation. Because Hanoi is a municipality within Vietnam while Thailand is a country, the comparison focuses on practical considerations for investors rather than treating every economic indicator as directly equivalent.<\/p>\n\n\n\n<div class=\"wp-block-group is-layout-constrained wp-block-group-is-layout-constrained\">\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"#footer-form\" style=\"background-color:#f04e23\">Book Your Free Incorporation Advisory Now!<\/a><\/div>\n<\/div>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<\/div>\n\n\n\n<h2 id=\"h-the-role-of-tax-incentives-in-driving-innovation-and-economic-growth\" class=\"wp-block-heading\" style=\"font-size:25px\">What Is the Difference Between Doing Business in Hanoi,\u00a0Vietnam\u00a0and Thailand?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Hanoi offers access to Vietnam\u2019s fast-growing economy and may\u00a0permit\u00a0full foreign ownership in sectors open to foreign investment, subject to market-access and licensing conditions. Thailand provides a highly developed regional business and manufacturing platform, but foreign investors must consider the Foreign Business Act and sector-specific restrictions. The preferred\u00a0jurisdiction\u00a0therefore depends on the proposed activity, ownership\u00a0structure\u00a0and investment\u00a0objectives.<\/p>\n\n\n\n<h2 id=\"h-the-role-of-tax-incentives-in-driving-innovation-and-economic-growth\" class=\"wp-block-heading\" style=\"font-size:25px\">Business Environment of Hanoi, Vietnam vs. Thailand<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Hanoi continues to present a compelling environment for businesses and investors. Official city data show that Hanoi\u2019s GRDP grew by&nbsp;<strong>8.16% in 2025<\/strong>. Total development investment reached approximately VND 594.7 trillion, while foreign direct investment was reported at approximately US$4.44 billion. Hanoi also recorded around 32,400 newly registered enterprises during the year.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These figures replace the article\u2019s older 2022 and 2023 indicators and\u00a0provide\u00a0a more current view of Hanoi\u2019s economic position. The city continues to promote technology, services, manufacturing,\u00a0innovation\u00a0and infrastructure development as important components of its growth strategy.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Thailand, by comparison, is a larger national economy with a mature industrial ecosystem. According to Thailand\u2019s National Economic and Social Development Council, the Thai economy expanded by\u00a0<strong>2.4% in 2025<\/strong>, while total investment increased by 4.9%. Thailand\u2019s long-established automotive, electronics, manufacturing,\u00a0tourism\u00a0and services industries\u00a0remain\u00a0important elements\u00a0of its investment proposition.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">STATISTIC: Hanoi\u2019s GRDP expanded by&nbsp;<strong>8.16% in 2025<\/strong>, while Thailand\u2019s nationwide GDP grew by&nbsp;<strong>2.4% in 2025<\/strong>. These percentages are useful indicators of recent economic momentum but are not directly equivalent because Hanoi\u2019s figure covers one municipality and Thailand\u2019s covers an entire national economy.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">STATISTIC-SOURCE: Hanoi municipal government official information portal and Thailand National Economic and Social Development Council.&nbsp;<\/p>\n\n\n\n<h2 id=\"h-the-role-of-tax-incentives-in-driving-innovation-and-economic-growth\" class=\"wp-block-heading\" style=\"font-size:25px\"> Business Hubs in Hanoi, Vietnam<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">As Vietnam\u2019s capital, Hanoi is an important administrative, financial, technology,&nbsp;services&nbsp;and manufacturing&nbsp;centre. Its investment ecosystem is supported by universities, research institutions, industrial and high-tech development, transport&nbsp;links&nbsp;and access to the broader northern Vietnam manufacturing corridor.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Vietnam\u00a0remains\u00a0closely integrated\u00a0into international manufacturing and trade networks. The country\u00a0participates\u00a0in major trade frameworks including ASEAN arrangements, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free Trade Agreement (EVFTA)\u00a0and the Regional Comprehensive Economic Partnership (RCEP). These agreements may provide qualifying businesses with preferential market access and tariff treatment, subject to applicable rules of origin and product requirements.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Hanoi\u2019s role is therefore broader than that of an individual industrial hub. Businesses\u00a0operating\u00a0from the city can potentially\u00a0combine access to government and professional services with links to industrial provinces and supply chains across northern Vietnam. Investors should nevertheless assess location-specific infrastructure,\u00a0labour\u00a0availability, land or lease requirements and sector licensing before selecting a site.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/premiatnc.com\/singapore-holding-company-and-vietnam-subsidiary-ventures\/?utm_source=google&amp;utm_medium=organic&amp;utm_campaign=Singapore+Holding+Company+and+Vietnam+Subsidiary+Partnership\" target=\"_blank\" rel=\" noreferrer noopener\"><img decoding=\"async\" width=\"1024\" height=\"555\" src=\"https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2024\/01\/VN-8-Strategic-Benefits-to-Expand-Your-Business-in-Vietnam-with-a-Singapore-Holding-Company-1-1024x555.jpg\" alt=\"\" class=\"wp-image-94015\" srcset=\"https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2024\/01\/VN-8-Strategic-Benefits-to-Expand-Your-Business-in-Vietnam-with-a-Singapore-Holding-Company-1-1024x555.jpg 1024w, https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2024\/01\/VN-8-Strategic-Benefits-to-Expand-Your-Business-in-Vietnam-with-a-Singapore-Holding-Company-1-300x163.jpg 300w, https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2024\/01\/VN-8-Strategic-Benefits-to-Expand-Your-Business-in-Vietnam-with-a-Singapore-Holding-Company-1-768x416.jpg 768w, https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2024\/01\/VN-8-Strategic-Benefits-to-Expand-Your-Business-in-Vietnam-with-a-Singapore-Holding-Company-1.jpg 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" style=\"font-size:25px\">Ease of Doing Business in Hanoi, Vietnam<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The former World Bank and third-party ranking figures in this section have been removed because the original article did not&nbsp;identify&nbsp;a sufficiently clear current index or&nbsp;methodology. A more useful assessment for 2026 is to examine current registration procedures, foreign-investment&nbsp;conditions&nbsp;and administrative processing requirements.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Hanoi introduced significant enterprise-registration reforms effective\u00a0<strong>1 July 2026<\/strong>. Under Resolution No. 12\/2026\/NQ-H\u0110ND, specified registration procedures for private enterprises, single-member and multi-member limited liability companies, joint-stock companies and partnerships have a processing period of\u00a0<strong>two working days<\/strong>\u00a0from receipt of the required dossier. This administrative processing period should not be confused with the total time needed for a foreign-invested project, which may also involve investment registration, sector approvals,\u00a0banking\u00a0and other post-establishment requirements.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Vietnam\u2019s Investment Law No. 143\/2025\/QH15, effective from\u00a0<strong>1 March 2026<\/strong>, also changed the sequencing of foreign-investment procedures. A foreign investor may\u00a0establish\u00a0an economic\u00a0organisation\u00a0before completing procedures for issuance or adjustment of an Investment Registration Certificate (IRC), while still having to satisfy the applicable foreign-investor market-access conditions. Where an investment project is subject to the IRC requirement, the IRC must be obtained before the project is implemented.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Thailand also offers established company-registration procedures through the Department of Business Development (DBD). However, foreign investors must separately assess whether the proposed activity is restricted under Thailand\u2019s Foreign Business Act and whether a Foreign Business\u00a0Licence, Foreign Business Certificate, BOI promotion or another exemption or approval route applies.\u00a0<\/p>\n\n\n\n<h2 id=\"h-the-role-of-tax-incentives-in-driving-innovation-and-economic-growth\" class=\"wp-block-heading\" style=\"font-size:25px\">Rising Urban and Consumer Demographics<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Vietnam continues to&nbsp;benefit&nbsp;from a large and increasingly urban population. According to Vietnam\u2019s National Statistics Office, the country\u2019s average population reached approximately&nbsp;<strong>102.3 million in 2025<\/strong>, of whom around 39.4 million\u2014or 38.6%\u2014lived in urban areas. The&nbsp;labour&nbsp;force aged 15 and above was approximately 53.5 million, while the proportion of workers with degrees or&nbsp;recognised&nbsp;certificates reached 29.2%.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These current official indicators provide a more reliable basis for assessing Vietnam\u2019s consumer and\u00a0labour\u00a0market than the\u00a0previous\u00a0unverified projection that the middle class would reach 36 million by 2030. Hanoi, as one of the country\u2019s principal urban\u00a0centres, can\u00a0benefit\u00a0from these broader demographic and consumption trends.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" style=\"font-size:25px\">Setting up a Company in Hanoi vs. Thailand<\/h2>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\">Incorporation<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Investors&nbsp;establishing&nbsp;a business in Vietnam may consider structures such as a single-member limited liability company, a multi-member limited liability company or a joint-stock company. A foreign company may also&nbsp;establish&nbsp;a branch or representative office where the applicable commercial-presence rules allow. A branch or representative office should not, however, be treated as equivalent to an incorporated Vietnamese company.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The\u00a0previous\u00a0description of Vietnam\u2019s incorporation process as a fixed sequence of obtaining an IRC followed by an Enterprise Registration Certificate (ERC) is no longer universally\u00a0accurate. Under the Investment Law effective from 1 March 2026, foreign investors may\u00a0establish\u00a0an economic\u00a0organisation\u00a0before the IRC procedure, although projects falling within the statutory IRC requirement must obtain the certificate before implementation. The competent IRC authority depends partly on the project location, including whether it is within an industrial, export-processing, high-tech, digital-technology or economic zone.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">After establishment, businesses may need to complete tax, banking, electronic-invoice,\u00a0employment\u00a0and social-insurance procedures according to their circumstances. Vietnam\u2019s current electronic-invoice framework is governed by Decree No. 254\/2026\/N\u0110-CP, effective\u00a0<strong>1 July 2026<\/strong>. The\u00a0previous\u00a0reference to ordering a company seal and registering it with the local police has been removed because it does not reflect the current general enterprise-registration process.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The\u00a0previous\u00a0requirement to pay an annual \u201cbusiness\u00a0licence\u00a0tax\u201d or business\u00a0licence\u00a0fee has also been removed. Vietnam abolished the business\u00a0licence\u00a0fee from\u00a0<strong>1 January 2026<\/strong>\u00a0under the current regime.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In Thailand, formation of a private limited company\u00a0generally involves\u00a0promoters preparing and registering a Memorandum of Association, subscription for the shares, a statutory meeting, appointment of directors and registration of the company.\u00a0At least two promoters are required, and each promoter must subscribe for at least one share.\u00a0Where the statutory requirements are ready, the Memorandum of Association and company registration may be\u00a0submitted\u00a0together.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The former statement that Thai company registration must be completed within three months is incorrect. Current DBD guidance states that if company registration is not completed within\u00a0<strong>three years<\/strong>\u00a0after registration of the Memorandum of Association, the memorandum ceases to be effective. Tax registration, VAT obligations and foreign-business permissions should be assessed separately rather than treated as universal prerequisites to\u00a0opening\u00a0a corporate bank account.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\">Directors and Shareholders<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">In Vietnam, a single-member limited liability company has one owner, while a multi-member limited liability company may have between two and 50 members. A joint-stock company&nbsp;requires&nbsp;at least three shareholders. Vietnam also requires an enterprise to ensure that at least one legal representative&nbsp;resides&nbsp;in Vietnam.&nbsp;Accordingly, the original statement that Vietnam has no residence requirement for directors or company representatives was overly broad.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In Thailand, a private limited company\u00a0requires\u00a0at least two promoters at formation, and the promoters become initial shareholders by subscribing for shares. Directors are appointed through the company\u2019s formation and governance process. Foreign ownership must then be assessed according to the Foreign Business Act, other sector\u00a0legislation\u00a0and any applicable investment-promotion framework.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\">Beneficial Ownership Disclosure\u00a0in Vietnam<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Companies\u00a0operating\u00a0in Vietnam must now consider beneficial-ownership reporting as part of their corporate compliance obligations. From\u00a0<strong>1 July 2025<\/strong>, newly established companies\u00a0are required to\u00a0declare beneficial-owner information to the business registration authority. Companies\u00a0established\u00a0before that date\u00a0generally provide\u00a0the information\u00a0when making their next prescribed enterprise-registration change, although voluntary supplementation is possible. The rules focus on\u00a0identifying\u00a0individuals who\u00a0ultimately own\u00a0or exercise control over the enterprise.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\">Government Support in Hanoi, Vietnam vs. Thailand\u00a0<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Hanoi continues to attract significant investment. Official 2025 data reported approximately&nbsp;<strong>US$4.44 billion in FDI<\/strong>, around 32,400 newly registered enterprises and total development investment of approximately VND 594.7 trillion. These figures replace the article\u2019s older 2023 indicators and&nbsp;demonstrate&nbsp;the continued scale of business and investment activity in the capital.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Administrative reform is another aspect of Hanoi\u2019s investor-support environment. The city\u2019s 2026 enterprise-registration reforms shortened specified registration-processing times to two working days and reduced certain filing requirements. Investors should nevertheless distinguish enterprise registration from investment approvals and regulated-sector\u00a0licences, which can require separate procedures.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Thailand supports investment primarily through frameworks including the Board of Investment (BOI).\u00a0Depending on the promoted activity and applicable category, BOI privileges may include corporate-income-tax incentives, import-duty incentives and non-tax privileges relating to matters such as skilled foreign personnel and land use or ownership for promoted operations, subject to the conditions of the promotion.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">STATISTIC: Thailand\u2019s BOI reported that investment-promotion applications in&nbsp;<strong>2025 reached approximately THB 1.877 trillion across 3,370 projects<\/strong>, with application value increasing 67% from the prior year. Major areas included digital,&nbsp;electronics&nbsp;and electrical appliances, and automotive-related investment.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">STATISTIC-SOURCE: Thailand Board of Investment.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-group is-layout-constrained wp-block-group-is-layout-constrained\">\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"#footer-form\" style=\"background-color:#f04e23\">Secure Your Free Company Name Search!<\/a><\/div>\n<\/div>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<\/div>\n\n\n\n<h3 id=\"h-the-role-of-tax-incentives-in-driving-innovation-and-economic-growth\" class=\"wp-block-heading has-medium-font-size\">Taxation in Hanoi, Vietnam vs. Thailand\u00a0<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Vietnam\u2019s standard Corporate Income Tax (CIT) rate is&nbsp;<strong>20%<\/strong>. Under the current Corporate Income Tax Law, qualifying enterprises with annual revenue not exceeding VND 3 billion may be subject to a 15% rate, while qualifying enterprises with annual revenue above VND 3 billion and not exceeding VND 50 billion may be subject to a 17% rate, subject to statutory conditions and implementing rules. Investment incentives may also apply to qualifying projects,&nbsp;sectors&nbsp;or locations.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Vietnam\u2019s VAT system continues to provide statutory rates including 0%, 5% and 10%, depending on the transaction. However, the Government has extended the two-percentage-point VAT reduction so that many supplies ordinarily subject to 10% VAT are taxed at\u00a0<strong>8% from 1 July 2025 through 31 December 2026<\/strong>. Certain sectors and categories are excluded from the reduction.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Vietnam\u2019s revised Personal Income Tax framework applies a five-band progressive schedule ranging from\u00a0<strong>5% to 35%<\/strong>\u00a0for relevant resident employment income for the 2026 tax year. Current personal and dependent deductions and the treatment of non-resident income should be reviewed according to the taxpayer\u2019s specific circumstances. Foreign Contractor Tax also\u00a0remains\u00a0relevant to certain payments to foreign\u00a0organisations\u00a0or individuals carrying on business or earning income in Vietnam, with the applicable tax components and rates depending on the transaction.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In Thailand, the standard corporate income tax rate is\u00a0generally\u00a0<strong>20%\u00a0of net taxable profit<\/strong>. VAT is currently collected at\u00a0<strong>7%<\/strong>, and businesses whose annual turnover from taxable sales or services exceeds THB 1.8 million\u00a0generally fall\u00a0within the VAT registration requirement, subject to statutory exemptions and specific rules.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Thai companies\u00a0generally have\u00a0both annual and half-year corporate income tax obligations. The half-year return is\u00a0generally filed\u00a0within two months after the end of the first six months of the accounting period, while the annual return is\u00a0generally due\u00a0within 150 days after the end of the accounting period. Qualifying tax losses may\u00a0generally be\u00a0carried forward for up to five accounting periods. Withholding-tax treatment varies according to the payment type,\u00a0recipient\u00a0and any applicable tax treaty, so a single 1%\u201315% range should not be treated as universally applicable.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>A Snapshot Comparison: Hanoi, Vietnam vs. Thailand<\/strong>&nbsp;<\/p>\n\n\n\n<figure style=\"font-size:17px\" class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Aspect<\/strong>&nbsp;<\/td><td><strong>Hanoi (Vietnam)<\/strong>&nbsp;<\/td><td><strong>Thailand<\/strong>&nbsp;<\/td><\/tr><tr><td><strong>Political Stability<\/strong>&nbsp;<\/td><td>Stable, focused on reforms, ranked 98 (World Bank)&nbsp;<\/td><td>Less stable, ranked 127 (World Bank)&nbsp;<\/td><\/tr><tr><td><strong>Economic Growth<\/strong>&nbsp;<\/td><td>6-7% GDP growth, manufacturing-driven&nbsp;in Hanoi, ranked 41 (World Bank)&nbsp;<\/td><td>Competitive, diverse markets, ranked 119 (World Bank)&nbsp;<\/td><\/tr><tr><td><strong>Industries<\/strong>&nbsp;<\/td><td>Manufacturing, electronics, IT,&nbsp;and&nbsp;finance&nbsp;<\/td><td>Automotive, electronics, tourism,&nbsp;and&nbsp;agriculture&nbsp;<\/td><\/tr><tr><td><strong>Top Export Destinations<\/strong>&nbsp;<\/td><td>U.S., China, Japan, South Korea,&nbsp;and&nbsp;EU&nbsp;<\/td><td>U.S., China, Japan, EU,&nbsp;and&nbsp;ASEAN countries&nbsp;<\/td><\/tr><tr><td><strong>Labor Force<\/strong>&nbsp;<\/td><td>Young, skilled, ranked 13 (World Bank)&nbsp;<\/td><td>Mix of skilled, semi-skilled workers, ranked 16 (World Bank)&nbsp;<\/td><\/tr><tr><td><strong>Labor Cost<\/strong>&nbsp;<\/td><td>Competitive, lower than developed countries&nbsp;<\/td><td>Higher minimum wage than Vietnam&nbsp;<\/td><\/tr><tr><td><strong>Foreign Ownership<\/strong>&nbsp;<\/td><td>Up to 100%, some restrictions in certain sectors&nbsp;<\/td><td>Generally capped at 49%, licenses&nbsp;and&nbsp;exemptions&nbsp;required&nbsp;<\/td><\/tr><tr><td><strong>Company Registration<\/strong>&nbsp;<\/td><td>Up to 1 and a half&nbsp;months for setup&nbsp;<\/td><td>1&nbsp;to&nbsp;2 weeks for setup, 6+ months for foreign business licenses&nbsp;<\/td><\/tr><tr><td><strong>Types of Companies<\/strong>&nbsp;<\/td><td>LLCs (single and multi-member), JSCs&nbsp;<\/td><td>Private Ltd., Public Ltd., Partnership&nbsp;<\/td><\/tr><tr><td><strong>Corporate Tax<\/strong>&nbsp;<\/td><td>20%, with incentives for certain sector&nbsp;and&nbsp;regions&nbsp;<\/td><td>20%, lower rates for SMEs, various incentives&nbsp;<\/td><\/tr><tr><td><strong>Global Trade Cooperation<\/strong>&nbsp;<\/td><td>Member of ASEAN, EVFTA, CPTPP,&nbsp;and&nbsp;WTO&nbsp;<\/td><td>14 FTAs, close to ASEAN, Australia, China,&nbsp;and&nbsp;South Korea&nbsp;<\/td><\/tr><tr><td><strong>Foreign Investment Incentives<\/strong>&nbsp;<\/td><td>Tax holidays, reduced rates, especially in industrial zones&nbsp;<\/td><td>Tax exemptions, land ownership, investment privileges&nbsp;<\/td><\/tr><tr><td><strong>Infrastructure<\/strong>&nbsp;<\/td><td>Developing roads, industrial zones, and urban areas&nbsp;<\/td><td>Well-developed highways, airports, ports&nbsp;<\/td><\/tr><tr><td><strong>Connectivity<\/strong>&nbsp;<\/td><td>Noi Bai Airport connects to major Asian cities&nbsp;<\/td><td>Bangkok is a regional hub, with Suvarnabhumi and Don Mueang airports&nbsp;<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">COMPARISON:&nbsp;<\/p>\n\n\n\n<figure style=\"font-size:17px\" class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Aspect<\/strong><strong><\/strong>&nbsp;<\/td><td><strong>Hanoi \/ Vietnam<\/strong><strong><\/strong>&nbsp;<\/td><td><strong>Thailand<\/strong><strong><\/strong>&nbsp;<\/td><\/tr><tr><td><strong>Recent economic growth<\/strong><strong><\/strong>&nbsp;<\/td><td>Hanoi GRDP grew 8.16% in 2025&nbsp;<\/td><td>Thailand national GDP grew 2.4% in 2025&nbsp;<\/td><\/tr><tr><td><strong>Economic focus<\/strong><strong><\/strong>&nbsp;<\/td><td>Services, technology, manufacturing, digital&nbsp;economy&nbsp;and northern Vietnam supply chains&nbsp;<\/td><td>Automotive, electronics, digital investment, manufacturing,&nbsp;tourism&nbsp;and services&nbsp;<\/td><\/tr><tr><td><strong>Foreign ownership<\/strong><strong><\/strong>&nbsp;<\/td><td>100% foreign ownership can be available in sectors open to foreign investors, subject to market-access and sector-specific conditions&nbsp;<\/td><td>No universal 49% cap; treatment depends on the Foreign Business Act, activity restrictions, sector laws and available&nbsp;licence,&nbsp;certificate&nbsp;or BOI routes&nbsp;<\/td><\/tr><tr><td><strong>Enterprise registration<\/strong><strong><\/strong>&nbsp;<\/td><td>Specified Hanoi enterprise registrations have a two-working-day processing target from receipt of the prescribed dossier from 1 July 2026; foreign-investment procedures may be&nbsp;additional&nbsp;<\/td><td>Private limited company formation&nbsp;generally involves&nbsp;at least two promoters,&nbsp;an&nbsp;MoA&nbsp;and company registration; restricted foreign activities may require separate permission&nbsp;<\/td><\/tr><tr><td><strong>Common company forms<\/strong><strong><\/strong>&nbsp;<\/td><td>Single-member LLC, multi-member LLC and JSC; branches and representative offices may also be available in applicable circumstances&nbsp;<\/td><td>Private limited company, public limited company,&nbsp;partnerships&nbsp;and other permitted forms&nbsp;<\/td><\/tr><tr><td><strong>Minimum ownership<\/strong><strong><\/strong>&nbsp;<\/td><td>Single-member LLC: one owner; multi-member LLC: 2\u201350 members; JSC: at least three shareholders&nbsp;<\/td><td>Private limited company formation requires at least two promoters\/shareholders&nbsp;<\/td><\/tr><tr><td><strong>Corporate income tax<\/strong><strong><\/strong>&nbsp;<\/td><td>Standard 20%; qualifying lower-revenue enterprises may&nbsp;benefit&nbsp;from 15% or 17% rates, with other incentives potentially available&nbsp;<\/td><td>Standard 20%, subject to applicable concessions and investment incentives&nbsp;<\/td><\/tr><tr><td><strong>VAT<\/strong><strong><\/strong>&nbsp;<\/td><td>Statutory rates include 0%, 5% and 10%; many qualifying 10% supplies are temporarily reduced to 8% through 31 December 2026&nbsp;<\/td><td>Current rate 7%; VAT registration&nbsp;generally applies&nbsp;when taxable annual turnover exceeds THB 1.8 million&nbsp;<\/td><\/tr><tr><td><strong>Foreign-investment incentives<\/strong><strong><\/strong>&nbsp;<\/td><td>Incentives may apply according to investment sector,&nbsp;project&nbsp;and location&nbsp;<\/td><td>BOI promotion can provide tax and non-tax incentives for qualifying promoted activities&nbsp;<\/td><\/tr><tr><td><strong>Trade coo<\/strong><strong>peration<\/strong><strong><\/strong>&nbsp;<\/td><td>ASEAN, RCEP, CPTPP, EVFTA and other trade agreements&nbsp;<\/td><td>ASEAN and RCEP participation; Thailand currently has 14 FTAs in force covering 18 countries&nbsp;<\/td><\/tr><tr><td><strong>Beneficial ownership<\/strong><strong><\/strong>&nbsp;<\/td><td>Beneficial-owner disclosure requirements apply under Vietnam\u2019s enterprise-registration regime&nbsp;<\/td><td>Corporate and foreign-business compliance requirements depend on the applicable Thai legal framework&nbsp;<\/td><\/tr><tr><td><strong>Foreign-investment compliance<\/strong><strong><\/strong>&nbsp;<\/td><td>Market-access conditions, IRC&nbsp;requirements&nbsp;and sector approvals must be considered&nbsp;<\/td><td>Foreign Business Act Lists 1\u20133 and sector-specific laws must be reviewed&nbsp;<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The economic figures in this comparison should be interpreted with care because Hanoi\u2019s GRDP\u00a0represents\u00a0one municipality while Thailand\u2019s GDP\u00a0represents\u00a0the entire country.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Vietnam\u2019s foreign-investment and registration entries reflect the Investment Law effective from March 2026 and Hanoi\u2019s enterprise-registration reforms effective from July 2026. Thailand\u2019s entries reflect current DBD and BOI guidance and the Foreign Business Act framework.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The tax entries reflect current Vietnam and Thailand tax-authority or legislative information, while the trade-agreement entries reflect official Vietnamese and Thai trade sources. Thailand\u2019s Department of Trade Negotiations reports 14 FTAs currently in force with 18 countries.\u00a0<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" style=\"font-size:25px\">Premia TNC\u2019s Industry-Leading Incorporation Services<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">At Premia TNC, we support businesses&nbsp;establishing&nbsp;and operating in Vietnam through incorporation and compliance services tailored to the proposed investment structure. This may include&nbsp;assistance&nbsp;with enterprise and investment registration documentation, coordination of lease-related documentation,&nbsp;bank-account&nbsp;establishment&nbsp;and other post-incorporation procedures. Where an IRC is&nbsp;required, the&nbsp;appropriate filing&nbsp;authority and procedure should be&nbsp;determined&nbsp;according to the investment project and its location under the current investment regime.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">UPDATED: Our compliance, accounting,&nbsp;taxation&nbsp;and payroll services can also support businesses in meeting applicable Vietnamese filing and employment obligations. With recent developments such as beneficial-ownership reporting, the 2026 electronic-invoice&nbsp;regime&nbsp;and changes to tax rules, businesses should review their compliance procedures periodically rather than relying on historic incorporation checklists.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-group is-layout-constrained wp-block-group-is-layout-constrained\">\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-background wp-element-button\" href=\"https:\/\/premiatnc.channel.io\/home?utm_source=seo&amp;utm_medium=channel.io&amp;utm_campaign=premiatnc\" style=\"background-color:#f04e23\" target=\"_blank\" rel=\"noreferrer noopener\">Complimentary Annual Return Filling &#8211; Get Started!<\/a><\/div>\n<\/div>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<\/div>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" style=\"font-size:25px\">Frequently Asked Questions<\/h2>\n\n\n\t\t<div class=\"wp-faq-schema-wrap wp-faq-schema-accordion\">\n\t\t\t\t\t\t<div class=\"wp-faq-schema-items\">\n\t\t\t\t\t\t\t\t\t<h3>1. Can a foreign investor own 100% of a company in Vietnam?<\/h3>\n\t\t\t\t\t<div class=\"\">\n\t\t\t\t\t\t<p>Yes, 100% foreign ownership can be permitted in many sectors. However, it is not an automatic right for every business activity. Foreign investors must satisfy Vietnam\u2019s applicable market-access conditions, sector-specific laws and any investment or operating-licence requirements. <\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<h3>2. Is foreign ownership of a Thai company always limited to 49%?<\/h3>\n\t\t\t\t\t<div class=\"\">\n\t\t\t\t\t\t<p>No. Thailand does not impose a universal 49% ownership ceiling on every company. A Thai-registered entity with half or more of its capital held by foreigners is generally treated as a \u201cforeigner\u201d for Foreign Business Act purposes, and the permitted ownership structure then depends on the activity, applicable restrictions and available approval or promotion routes. <\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<h3>3. Can a foreign-owned company in Hanoi be established in two working days?<\/h3>\n\t\t\t\t\t<div class=\"\">\n\t\t\t\t\t\t<p>The two-working-day period introduced in Hanoi from 1 July 2026 applies to specified enterprise-registration procedures once the prescribed dossier has been received. It does not mean every foreign-investment project can become fully operational within two days. An IRC, sector licence, banking, tax, employment or other approvals may still be required depending on the business. <\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/api.whatsapp.com\/send\/?phone=85256281754&amp;text&amp;app_absent=0\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"148\" src=\"https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2023\/05\/BTN-4-1-1024x148.png\" alt=\"\" class=\"wp-image-89399\" srcset=\"https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2023\/05\/BTN-4-1-1024x148.png 1024w, https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2023\/05\/BTN-4-1-300x43.png 300w, https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2023\/05\/BTN-4-1-768x111.png 768w, https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2023\/05\/BTN-4-1-1536x222.png 1536w, https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2023\/05\/BTN-4-1-2048x296.png 2048w, https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2023\/05\/BTN-4-1.png 1920w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 10<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>When comparing the business environments of Hanoi, Vietnam, and Thailand, both markets offer distinct advantages for investors, shaped by their unique economic landscapes and regulatory frameworks. Hanoi, the capital of Vietnam, is increasingly recognized as a strategic hub for manufacturing and industrial investment, driven by its robust economic stability, competitive labor costs, and attractive government incentives. In contrast, Thailand presents a mature market with well-established infrastructure and a reputation for ease of doing business<\/p>\n","protected":false},"author":2,"featured_media":93470,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[94,130],"tags":[],"class_list":["post-93466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","category-company-incorporation"],"featured_image_src":"https:\/\/premiatnc.com\/vn\/wp-content\/uploads\/2024\/10\/VN-Comparative-Analysis-of-Doing-Business-in-Hanoi-Vietnam-vs-Thailand.jpg","author_info":{"display_name":"premiatnc","author_link":"https:\/\/premiatnc.com\/vn\/author\/premiatnc\/"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Doing Business in Hanoi vs Thailand | Comparative Analysis<\/title>\n<meta name=\"description\" content=\"Discover why Hanoi is emerging as a top business and manufacturing hub. 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