New company setup in Vietnam: key requirements, costs, and timeline 

• New company setup in Vietnam has been a growing preference for local and overseas investors alike due to the strong economic growth and business-friendly policy reforms of the nation. Vietnam saw more than 160,000 newly registered businesses in 2024, indicating a vibrant business landscape and strong demand for entrepreneurship. In the context to register company in Vietnam, investors will encounter many legal and regulatory hurdles, such as determining the proper business structure (e.g. limited liability company or joint-stock company) choosing a unique name, preparing incorporation documents, and obtaining an Investment Registration Certificate (IRC) as well as an Enterprise Registration Certificate (ERC).  

• In this blog, we at Tetra Consultants have discussed the major requirements, expenses, and timeline for initiating new company setup in Vietnam to assist you in making the correct decisions and achieve hassle-free incorporation. 

Requirements for new company setup in Vietnam 

• The name of the business has to be distinctive and meet naming legislative requirements. Provide suggested names for approval by the Department of Planning and Investment (DPI). 

• A domestic local address is required for registering a company. A virtual address is also allowed. 

• Clearly specify the proposed business operations and capital structure. 

• No regulatory minimum capital in most industries, but certain sectors need increased capital (e.g., finance, real estate). 

• Obtain an Enterprise Registration Certificate (ERC) because it is required to register a corporation. Application documents include charter, list of members/shareholders, legal representatives’ details and address of office.  

• Obtain the new tax code and VAT number from the General Department of Taxation. You will then register for Corporate Income Tax (CIT), Value Added Tax (VAT) and other respective taxes. 

• Register employees with Vietnam Social Insurance (VSI) when employing personnel. 

• Appointment of at least one director (can be foreigner with work permit or with appropriate experience). 

• No requirement of resident director, but local representative is mandatory. 

• Annual audited financial statements must be submitted. 

• Compliance with sectoral regulations and foreign ownership caps (if any) must be maintained. 

Cost for new company setup in Vietnam 

• We are open and present to our clients a clear picture of all the fees and charges that are incurred during setting up a new company in Vietnam. There are several costs that are all necessary for a smooth and compliant setup. First of all, there are government fees for registration including fees for Investment Registration Certificate and Enterprise Registration Certificate and industry specific licenses if applicable.  

• Professional service fees include our comprehensive service including document preparation and legalization, registered office and help with corporate bank account opening. Other costs including document translation and notarization should be considered by clients as all foreign documents need to be officially translated into Vietnamese and legalized. If a virtual office must be used to satisfy the address requirement, this will generally cost an annual fee, whereas leasing an actual office or industrial building will depend on location and property grade. 

• Besides this, there are paperwork and state fee administrative costs and fees for legal and business consultancy advice during the registration process. Capital investment is also a big part, investors need to disclose and invest enough funds to operate the business within 90 days from receiving the business license. 

• For overseas investors or workers who need work visas, extra fees for visa applications and compliance service may apply. Compliance fees that need to be paid on a regular basis such as annual accounting, tax reporting and statutory renewals should also be considered so the company is kept in good standing. 

• At every step, Tetra Consultants will provide clients with a clear and itemized quote, ensuring that all statutory, regulatory and professional fees are clearly outlined and explained before signing up, so you can go ahead with your investment with confidence and clarity. 

Timeline for new company setup in Vietnam 

• The period for establishment of a new company in Vietnam comprises a number of consecutive actions and generally ranges from several months, subject to the level of business complexity and the level of document completeness. The process starts with pre-registration work, including market research and determining the proper business form, which may consume one or two weeks. For overseas investors, procuring the Investment Registration Certificate (IRC) is the important step where the investment proposal and supporting papers are reviewed by the authorities. After the IRC has been procured, the subsequent stage is the application for the Enterprise Registration Certificate (ERC). 

• Once they have received the ERC, the firms need to finalize various post-registration procedures such as opening a corporate bank account, depositing the indicated charter capital within 90 days, and having a company seal engraved, and tax and social insurance registration, each of which would take an extra one or two weeks. If the company is in a regulated industry, it may take longer by requiring further licenses or permits, depending on their issuance times. With the aid of professional services, like Tetra Consultants, the whole process of company setup from planning to fully operational and regulated can be finished within two to six months, depending on the nature of the business and the regulations involved. 

Conclusion  

• Working with Tetra Consultants for new company setup in Vietnam guarantees an easy, effective, and completely compliant incorporation process. Our all-inclusive service package embraces every essential step ranging from providing advice on the optimal business structure and reserving your business name to preparing and legitimizing all the documents required. We manage the Investment Registration Certificate (IRC) and Business Registration Certificate (BRC) application, assist in acquiring the Foreign Investment License, and arrange corporate bank account opening with established Vietnamese banks.  

• In addition to incorporation, Tetra Consultants offers continuous assistance ranging from nominee director services, provision of a registered office, to complete accounting and tax compliance to ensure your business is in accordance with Vietnamese law. With our team of experts handling the intricacies of company registration and regulatory compliance, you can concentrate on expanding your business with confidence.  

• At Tetra Consultants, we take pride in our transparency, prompt communication, and ensuring results within the agreed timeline, commonly allowing you to begin operations within six months. Choose Tetra Consultants as your go-to partner to register company in Vietnam without any hassle and pave the way for your venture’s long-term success. 

• Contact us to know more about new company setup in Vietnam and our team will revert back in 24 hours.