3 useful FAQs for starting a business in Vietnam (Hanoi)
1. What is the process to setting a 100% foreign-owned business in Vietnam?
To establish a 100% foreign-owned business in Vietnam, foreign investors are required to carry out the following procedures:
Step 1: Foreign investors must register with the Department of planing and investment or Management board of Industrial zone and get Investment Registration Certificate
Step 2: Register with the Department of planing and investment and get Business Registration Certificate
See detail at : Procedures for setting up a wholly foreign-owned enterprise in Vietnam in Protected content
2.. Which business can foreigners not own or be a part owner of in Vietnam?
In Vietnam, there are non-conditional investment areas and conditional investment areas. Establishing company in the non-conditional investment areas are more simple than in conditional investment areas. Investment in IT services, manufacturing, management consulting, business promotion are a few samples of non-conditional investment areas.
Example of conditional investment areas are real estate, trading, travel agencies, freight forwarding…which are more complicated with investment conditions. Investment conditions might also be changed over the time depending on the WTO commitments which Vietnam enters.
3. What is the legal structure of the company?
There are 4 form enterprises to established in Vietnam, including:
- Single-member limited liability company
- Multiple-member limited liability company
- Joint- stock company
- Partnership company
Understanding the characters of every single form of the enterprise provides the investors advantages in raising capital, managing business, minimize their liabilities, etc.
See more at: Business in Vietnam Tutorials in Protected content