WIPO refers to the World Intellectual Property Organization. It is a global forum which promotes innovation and creativity for the economic, social and cultural development of all countries with the help of a balanced and effective international IP system.
Located on the eastern coast of Southeast Asia, Vietnam is one of the fastest growing nations in the world in terms of gross domestic product (GDP). It is an agrarian country known for rice and coffee harvesting. It has also made inroads into manufacturing, information technology and oil industries of late.
Vietnam abounds in sea ports, has over a score civil airports, and a well distributed rail and road network. Since the 1980s, Vietnam has witnessed a rapid growth in economy, especially in international trade. A one-party Communist state, it has one of south-east Asia’s fastest-growing economies and is poised to become a developed nation by 2020.
Company Incorporation in Vietnam
Foreign investors can choose one of the following legal entity types to incorporate a company in Vietnam.
- Private Enterprise: A private enterprise is owned by 1 person who bears unlimited liability, i.e., is liable for all activities of the company to the extent of all one’s assets.
- Partnership: A partnership company can be set up by 2 or more partners. A partner may be a general partner (liable for all obligations of the company with one’s own assets) or a limited partner (liable for the company to the extent of one’s capital contribution).
- Limited Liability Company: A limited liability company (LLC) is a legal entity established by its members by way of capital contribution. It can have 1 or more members. The capital contribution of each member is treated as their respective equity. The members of an LLC are liable for the financial obligations of the LLC to the extent of their capital contributed.
- Joint Stock Company: A joint stock company (JSC), or shareholding company, is a legal entity established by its founding shareholders on the basis of their subscription of shares of the company. A JSC is required to have a minimum of 3 shareholders.
- Branch: A branch office is an offshoot of a company located abroad that wishes to conduct business in Vietnam, provided the parent company has been in business for at least 5 years.
- Representative Office: Foreign companies in business for at least 1 year may open a representative office in Vietnam. A representative office is not allowed to carry out manufacturing or commercial activities, but may carry out market research or promotion for its parent company.
Benefits of Company Incorporation in Vietnam
Doing business in Vietnam has the following benefits:
- Owing to foreign direct investment (FDI) and tremendous expansion of the private sector, Vietnam is one of the fastest growing Asian economies with a high GDP growth
- Placed in the centre of the Association of Southeast Asian Nations (ASEAN), Vietnam holds quite a strategic location in terms of market access. Moreover, Vietnam has a long coastline and proximity to the major global shipping routes.
- Vietnam is open to the global economy. It is a member of ASEAN, ASEAN Free Trade Area (AFTA), and the World Trade Organization (WTO). It also has over 60 double tax agreements.
- The population in Vietnam is young, skilled and abundant. The literacy rate is over 90%.
- Vietnam has a stable government and social structure, making it an ideal place for capital investment.
Who We Are
Business Setup Worldwide is a platform to help you set up your business. Right from incorporation, registration and licensing to establishing your office space, we facilitate the formation of your company through counselling and incubation.
Business Setup Worldwide's proprietary business design techniques, combined with its specialized industry knowledge and global reach, enable companies to anticipate changes in customer priorities and the competitive environment, and then design their businesses and improve operations to seize the opportunities created by those changes.
Company setup in Vietnam envisages huge earning potential, liberal business protocols, and a favourable working environment. Business Setup Worldwide helps global investors, businessmen, and corporates set up company in Vietnam in utilizing all the advantages that a developing economic hub provides. Our experts take care of the banking, visa, legal, and licensing formalities, and allow corporates to enjoy their company formation process without worrying about the bureaucratic red tape and legal formalities.
Commitment to professionalism, comprehensive capability across varied industry segments, proactive learning in the ever-changing global environment and ability to conceive innovative strategies and provide comprehensive support in executing such strategies distinguish Business Setup Worldwide, and provide you the competitive edge in ensuring growth.
What types of business entities are in Vietnam?
The types of business entities in Vietnam are,
Limited liability company (LLC)
Joint-stock company (JSC)
Which type of business organisation is most popular in Vietnam?
The most popular business organisation in Vietnam is a Limited Liability company.
What are the documents required to register an LLC in Vietnam?
The types of documents required to register an LLC in Vietnam are,
Certificate showing the necessary amount of investment
Articles of Association certificate
Proof of registered address
Information on the shareholders or members of the LLC
The business plan includes the investment project and money that is invested
Information on company director or legal representative and power of attorney
Can a foreigner own a business in Vietnam?
Yes, a foreigner can begin a business in Vietnam.
Who issues a license in Vietnam?
To conduct business in Vietnam, the Vietnamese government requires permits and licenses.