With a fast-growing economy and large population, Vietnam is becoming an attractive option for foreign investors. However, foreign investors have faced constant challenges in stating a business in Vietnam with conflicting laws, administrative difficulties, language barriers and delays in registration/approval processes.
In recent years, the government has made considerable effort with the introduction of the new Law of Investment and the new Law on Enterprise to streamline and simplify the procedures in establishing a foreign company in Vietnam. As such, being well-aware and well-equipped early on with the information and documents required for the establishment of a foreign company in Vietnam can help a foreign investor to make an informed decision on its entry into Vietnam and to minimise any unexpected delays.
We set out below the step-by-step procedure to set up a foreign company in Vietnam and each step’s actual timeline based on our experiences.
In setting up a company with foreign investment, the process is generally as follows: