Timeline and costs of company registration in Vietnam

Depending on the kind of business organization being formed and the particular needs of the registration process, the time frame and cost for company registration in Vietnam may change. Typically speaking, it takes 2 to 4 weeks to register a company in Vietnam. Government fees, legal fees, and other ancillary expenditures are all involved in the price of registering a business in Vietnam. The timeline and costs of company registration in Vietnam are broken down in the article below.

 

Timetable for Vietnamese corporation registration

 

• The name of the business is reserved for 1-2 working days.
• Certificate of business registration can be obtained in 3–5 working days.
• It takes 3-5 working days to obtain a tax registration certificate.
• 1-2 working days are needed to obtain the seal and seal registration certificate.

 

Registration fees for businesses in Vietnam

• Fee for registering a business: 600,000 to 1,000,000 VND (depending on the registered capital)
• Tax registration cost: 100,000 VND
• Fee for a seal and seal registration: 300,000 to 400,000 VND
• 5,000,000 to 10,000,000 VND in legal fees (depending on the legal firm engaged)
• Between VND 500,000 and VND 1,000,000 in other costs (including notarization and translation fees, transportation costs, etc.)

It is significant to note that based on the particulars of the company and the registration process, the fees and time required for company registration in Vietnam can change. To ensure a quick and easy company registration process, it is advised to speak with a qualified legal and business services provider.

 

Minimum share capital required for business registration in Vietnam

Depending on the type of corporate entity being established, a minimum share capital may be needed for registration in Vietnam. The minimum share capital requirements for the most typical corporate entity types in Vietnam are as follows:

 

Limited Liability Corporation (LLC) 

In Vietnam, an LLC must have a minimum share capital of VND 1,000,000, or about USD 44.

 

Joint Stock Corporation (JSC) 

In Vietnam, a JSC must have a minimum share capital of VND 10,000,000,000, or around USD 440,000. Nonetheless, within 90 days of the company's incorporation, this sum must be paid in full.

 

Partnership 

In Vietnam, there is no set minimum share capital requirement.

 

Sole Proprietorship 

A sole proprietorship is permitted in Vietnam with no minimum share capital required.

 

Advantages of establishing a business in Vietnam

There are several benefits to registering a firm in Vietnam. Here are some of the key advantages:

 

Favorable business environment 

Vietnam has been rapidly growing its economy and improving its business environment. It has become a hub for foreign investment due to its open policies and ease of doing business.

 

Strategic location 

Vietnam is strategically located in Southeast Asia, making it a gateway to other emerging markets in the region.

 

Low labor costs

Vietnam has a large, skilled and cost-effective labor force which is attractive to businesses looking to cut costs.

 

Competitive tax rates 

Vietnam has one of the lowest corporate tax rates in the region, which makes it an attractive destination for foreign investment.

 

Investment incentives

The Vietnamese government offers a range of investment incentives to encourage foreign investment in the country. These include tax incentives, land use incentives, and funding support.

 

Growing market 

Vietnam has a young and dynamic population of over 96 million people, which represents a significant consumer market for businesses.

Access to free trade agreements

Vietnam has entered into several free trade agreements (FTAs) with other countries and regions, providing businesses with access to a large and growing market.

Supportive government policies 

The Vietnamese government has implemented a range of policies to support businesses, including administrative reforms, investment in infrastructure, and support for research and development.

Overall, registering a firm in Vietnam offers a range of benefits, including access to a growing market, favorable business conditions, low labor costs, and investment incentives.

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