Why Register a Company in Vietnam?
- Vietnam is committed to achieving higher GDP growth rate with time, and has consequently taken steps to liberalize the economy. Vietnam is a member of the Association of Southeast Asian Nations (ASEAN) and the World Trade Organization (WTO).
- Vietnam is stable politically and socially, with a government that promotes foreign investment.
- The population in Vietnam is young, skilled and educated, so sourcing workforce here is simple. Vietnam is on its way to a fortuitous demographic dividend.
- Vietnam lies in the centre of ASEAN and has many sea ports. This lends it a strategically advantageous geographical location.
Process of Registering a Company in Vietnam
A company in Vietnam can be registered through the following steps:
- Decide upon a legal structure for the company: private enterprise, partnership, limited liability company (LLC), joint stock company (JSC), branch office, or representative office.
- Based on the company structure, decide upon the number of directors and shareholders for it.
- Finalize a name for the company.
- Submit Vietnam company registration documents, duly signed by the partners.
- Contact the Vietnam Department of Planning and Investment, the pertinent provincial tax department, and the Department of Public Security – to apply for a business registration certificate and company seal.
- Get the company registered for a tax code.
- Approach the Vietnam Registrar of Companies to complete the registration.
Documents Required for Company Registration in Vietnam
- Memorandum and Articles of Association, approved by the government
- Company application form
- Original share certificates
- Copies of the passport and ID of the director and the shareholders
- Original receipt of payment of annual Vietnam company registration and licence fee
- Company registered address proof