Company Formation in Vietnam

A significant advantage in terms of economic growth compared to other nations in the region.

Vietnam offshore company formation

Set up a 100% foreign owned company in Vietnam (Wholly foreign-owned LLC)
The Vietnam joint venture company (Partly foreign-owned LLC)

– A strategically significant “link bridge” on the global marine map;
– The third largest market in Southeast Asia;
– One of the world’s fastest-growing economies. This will greatly benefit regional interactions and economic growth.
– A sound political foundation, an extensive legislative framework, and the use of information technology in state administrative management.
– Vietnam has open and transparent intellectual property regulations.
– Skilled Workforce & Talent Attraction.
– Some business lines and investment areas have particularly favourable tax rates and CIT incentives for investors.
– Vietnam is a member of the ASEAN Free Trade Area, a trade agreement including Indonesia, Malaysia, the Philippines, Singapore, Thailand, Laos, Myanmar, and Cambodia. Vietnam has negotiated free trade agreements with a number of nations across the world.
– Vietnam has signed seven regional and bilateral free trade agreements (FTAs), including the Vietnam-EU FTA and the ASEAN-Hong Kong FTA, as well as 70 double taxation agreements.

Company Registration in Vietnam is perfect for:

 Trading Opportunities

 High-tech Productions

Foreign Direct Investment

Manufacturing company

Education

Healthcare businesses

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    Four Easy Steps To Register A Company In Vietnam

    1. Preparation

    Ask for a free corporate name search We evaluate the name's suitability and, if necessary, offer suggestions.

    2. Filing

    • Fill in the company name, directors, and shareholder(s) by logging in or registering.
    • Add the shipping address, the business address, and any additional instructions.

    3. Payment

    Choose your payment method

    4. Delivery

    • All relevant documents, including as the Certificate of Incorporation, Business Registration, Memorandum and Articles of Association, etc., will be sent to you electronically. After that, a jurisdiction's new corporation is prepared to conduct business!
    • You can use the company package of paperwork to open a corporate bank account, or we can assist you using our extensive banking support service knowledge.

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    • Scan of a passport with a notary.
    • Scan of utility bill (such as a gas, water or electricity bill) with notarized address proof. Documents from other countries need to be translated into Vietnamese, certified, and given legalisation. certified true copy for Vietnamese documents.

    FAQs

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    In order to create a business in Vietnam, foreigners are permitted to register their firm.

    They can possess 100% of the stock in their company in the majority of sectors. Company registration in Vietnam is only permitted in a joint venture agreement with a Vietnamese individual or corporate stakeholder in a few specific industries.

    The experts at Ruihong Vietnam company registration will give you advice on the necessity of a joint venture partner.

    No, not always. A foreign investor may establish a new legal entity as a wholly foreign-owned enterprise (“WFOE”) or as a joint venture (and contribute capital to this entity); in this case, an investor must apply for both an enterprise registration certificate (“ERC”), formerly known as a business registration certificate (“BRC”), and an investment registration certificate (“IRC”). An existing Vietnamese legal entity may also accept capital contributions from overseas investors without the need for the issue of an IRC or ERC.

    Therefore, in the case of foreign investors starting their first project in Vietnam, incorporation of the Vietnamese legal entity occurs concurrently with project licensing. In other words, without a project, a foreign investor cannot create a legal corporation. However, after completing the initial project, an investor is free to undertake other projects either by establishing a new legal business or by continuing to use the existing legal entity.

    Vietnam’s regular corporate income tax (CIT) rate is 20%, while businesses engaged in the oil and gas industry will be subject to rates ranging from 32% to 50%;

    A Vietnamese firm will be totally immune from taxes when it pays dividends to its corporate owners. Additionally, there won’t be any withholding taxes applied to dividend payments made to foreign company shareholders. The withholding tax for individual stockholders will be 5%;

    Withholding taxes of 5% and 10% will be applied to royalties and interest payments made to non-residents of the country, respectively;

    Residents are subject to a progressive system of personal income tax, with rates ranging from 5% to 35%. However, the tax is imposed at a flat rate of 20% on non-residents.

    Within 90 days following the end of the fiscal year, annual corporate income tax returns must be submitted to the General Department of Taxation. However, based on estimations, the business will be obliged to make quarterly income tax payments.

    Accounting records must be maintained in Vietnamese Dong, which is the native currency. They may also include a common foreign language, such as English, but they must be written in Vietnamese as well.

    The yearly financial accounts of international corporations shall be audited by an auditing firm with its headquarters in Vietnam. 90 days prior to the end of the year, these statements must be submitted to the licencing body, the ministry of finance, the statistics office, and the tax authorities.

    Opening a capital account in Vietnam is a notable need for foreigners who want to start a new business there. They must utilise this account to deposit the share capital for their firm.

    The following Vietnamese legal entities may be chosen by a foreign investor (just like a local investor) to carry out a project:

    • A Limited Liability Corporation (“LLC”), either a single-member LLC (“SLLC”) or an LLC with two or more members (“MLLC”), up to a maximum of 50.
    • A Sharing or Joint Stock Company (“JSC”), a business with a minimum of three shareholders but no maximum.
    • A Limited Liability Partnership or a General Partnership.
    • A Privately Owned Company (comparable to a Sole Proprietorship).

    A foreign investor is most likely to pick a JV for two reasons:

    • Some business sectors in Vietnam require a JV to establish a commercial presence in Vietnam.
    • The Vietnamese party has a crucial asset, local know-how and knowledge, or other reasons that make the JV the preferable alternative.

    As an illustration, in real estate development projects, the Vietnamese party often holds the land use rights, which are legally prohibited from being given to a foreign investor directly but may be included in a joint venture.

    Depending on the type of transaction, Vietnam has three different VAT rates: 0%, 5%, and 10%.

    Vietnam has a tax rate of 0% on exported goods and services, international transportation, and goods and services exempt from value-added taxes. It also has 0% tax rates on offshore reinsurance, credit provision, capital transfer, and derivative financial services, post and telecommunications services, and exported goods made of raw minerals and other mined resources.