Virtual Office in Ho Chi Minh City

Yes, foreign investors who want to expand to Vietnam can set up a foreign-owned company in the country. The most common type of company setup for foreign ownership is an LLC (Limited Liability Company) due to its simple business structure and faster setup timeline. Depending on the type of business entity you want to pursue, there are further regulations for foreigners to follow when establishing a company in Vietnam.

There are four types of entities: Limited Liability Company (LLC), Joint-stock Company (JSC), Branch Office and Representative Office.

Although local laws don’t stipulate any minimum capital, 25-30,000 USD is commonly considered as the minimum capital investors should register to ensure smooth incorporation and business activities.

Yes. The Vietnamese law enables foreigners to open 100% foreign-owned companies in most business sectors. There are a few business sectors that you are restricted from, namely the following:

1. Drugs and narcotics,
2. Hazardous chemicals and minerals,
3. Range of specimens of endangered flora and fauna,
4. Prostitution,
5. Human trafficking, sale of human body parts and tissue,
6. Human cloning or asexual reproduction.

Yes, there are several options suitable for investors who wish to expand without forming a legal entity.

• HR Outsourcing
  Allow us to assist in your expansion, and relocate your staff or hire Vietnamese professionals without incorporating business entities. We can act as an Employer of Record (EOR), provide recruitment, payroll, business visas and work permits.
• Local Distributor
  Market your product in Vietnam through a local distributor. Cekindo will take care of shortlisting potential traders in Vietnam, and arrange meetings between them and your company. The main advantage for you is that you do not need to be physically present in Vietnam during the selection and negotiation part.

The process of starting an LLC or JSC in Vietnam takes approximately 40-60 days. If you want to start operating a business as soon as possible, we recommend purchasing a shelf company. With this method, InCorp can transfer the management control to you within a few working days.

Both local nominee companies and shelf companies are fast ways to incorporate business entities and penetrate the Vietnamese market successfully. A local nominee company is established through a nominee agreement with a trustworthy local partner such as InCorp. In this case, the company is considered as a local company, requirements for its establishment are not that strict, and it takes around 10 working days to incorporate a local company in Vietnam. A shelf company is a previously established business with zero business activity and transactions. Investors who purchase a shelf company can start their business operations almost immediately.

Underestimating the role of a business partner or local nominee are one of the common business mistakes in Vietnam. Choosing a reliable local partner for your company is key to success in the country while reducing the potential risks. InCorp offers local nominee services without any interventions to your business processes. We also allow our partners to terminate the contract sooner that its expiry date.