Incorporating a company in Vietnam involves navigating the country's legal and regulatory framework.
1. Company Type Selection: Decide on the type of company you want to establish. Common options include:
- Limited Liability Company (LLC)
- Joint Stock Company (JSC)
- Representative Office
- Branch Office
2. Company Name Reservation: Choose a unique name for your company and check its availability with the Department of Planning and Investment (DPI). The name should comply with Vietnamese naming regulations and not infringe on any existing trademarks.
3. Registered Office Address: Have a registered office address in Vietnam where official correspondence will be sent. This address must be a physical location and cannot be a P.O. Box.
4. Legal Representative Appointment: Appoint a legal representative for your company who will act on its behalf. The legal representative can be a local or foreign individual depending on the type of company.
5. Capital Contribution: Determine the initial capital contribution required for your company. The minimum capital requirement varies depending on the type of company and industry.
6. Prepare Incorporation Documents: Prepare the necessary incorporation documents, including:
- Articles of Association
- Investment Registration Certificate (IRC)
- Business Registration Certificate (BRC)
- Other documents as required by law
7. Submission of Documents: Submit the incorporation documents to the DPI or relevant authorities for approval. You may need to engage the services of a local consultant or legal advisor to assist with this process.
8. Payment of Fees: Pay the necessary fees for company registration and other related services.
9. Wait for Approval: Once the documents are submitted, you will need to wait for approval from the authorities. The approval process may take several weeks or months, depending on the complexity of your application and the efficiency of the local authorities.
10. Post-Incorporation Compliance: After incorporation, fulfill any post-incorporation compliance requirements, such as obtaining a seal, opening a corporate bank account, registering for tax, and obtaining necessary business licenses.
11. Ongoing Compliance: Maintain ongoing compliance with Vietnamese laws and regulations, including filing annual reports, holding annual meetings, and fulfilling tax obligations.
Contact DLBC Business Consultancy for assistance and arrangements.
