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Establish company in Vietnam is the first step toward legalizing your business operations, expanding your market, and building a professional brand. However, many individuals and businesses still encounter difficulties navigating legal procedures, managing costs, and addressing crucial factors for smooth operations.
Procedures for Setting Up a Company in Vietnam
To establish a company in Vietnam, the applicant must prepare legal documents including: an application for enterprise registration, the company’s charter, a list of members/shareholders (if applicable), and copies of ID cards or passports of the legal representative and members. The dossier can be submitted online via the National Business Registration Portal or in person at the Department of Planning and Investment.
Once the enterprise registration certificate is issued, the company must proceed with company seal engraving, registering the seal sample, opening a bank account, notifying tax authorities of invoice usage, and completing initial tax registration. The entire process typically takes 5–7 working days if all documents are in order and no additional revisions are required.
Costs of Company Establishment
The cost of setting up a company in Vietnam varies depending on the type of enterprise (LLC, JSC, etc.), business location, and whether legal consulting services are used. Fixed state fees include business registration fees (approximately VND 50,000–100,000), company seal engraving (VND 300,000–500,000), and business information disclosure (VND 100,000).
Additional costs may include office rental, digital signature procurement, e-invoice software, and accounting or legal advisory services. On average, the total initial cost for starting and operating a company in the first month ranges from VND 5 to 15 million, depending on the business scope and industry. In addition, you need to pay fee for the legal service in Vietnam if you hire a law firm in Vietnam to ensure the lawful process.
Key Considerations When Starting a Company
A common mistake in setting up a company is choosing the wrong type of enterprise or failing to clearly identify appropriate business lines. This may lead to complications in expanding operations, applying for sub-licenses, or attracting investment later on. It’s important to align the company structure with business goals and long-term strategies before registering.
In addition, non-compliance with tax, accounting, and reporting obligations may result in administrative penalties or reputational damage. To ensure legal and efficient operations, businesses are strongly encouraged to seek support from professional legal consultants from the very beginning of the registration process.
Establish company in Vietnam is not overly complicated, but it does require attention to detail and a solid understanding of legal requirements. Being well-prepared with proper procedures, budget planning, and a strong legal foundation will help businesses start on the right foot and grow sustainably in the Vietnamese market.
ASL Law is a leading full-service and independent Vietnamese law firm made up of experienced and talented lawyers. ASL Law is ranked as the top tier Law Firm in Vietnam by Legal500, Asia Law, WTR, and Asia Business Law Journal. Based in both Hanoi and Ho Chi Minh City in Vietnam, the firm’s main purpose is to provide the most practical, efficient and lawful advice to its domestic and international clients. If we can be of assistance, please email to [email protected].
ASL LAW is the top-tier Vietnam law firm for doing business in Vietnam. If you need any advice, please contact us for further information or collaboration.
