FAQ
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Frequently Asked Questions on Company Incorporation in Vietnam
The main taxes in Vietnam include corporate income tax (CIT), value-added tax (VAT), personal income tax (PIT), and business license tax. Other taxes that may occur include foreign contractor and import-export taxes.
The monthly taxable income generally represents the monthly salary or wage of the individual, and is taxed at a progressive rate from 5% to 35% for a Tax Resident, and a fixed 20% rate for a Non-Tax Resident.
There are four types of entities: Limited Liability Company (LLC), Joint-stock Company (JSC), Branch Office and Representative Office.
Although local laws don’t stipulate any minimum capital, 25-30,000 USD is commonly considered as the minimum capital investors should register to ensure smooth incorporation and business activities.
Yes. The Vietnamese law enables foreigners to open 100% foreign-owned companies in most business sectors.
However, below are some business sectors that you are restricted:
Drugs and narcotics,
Hazardous chemicals and minerals,
Range of specimens of endangered flora and fauna
Prostitution
Human trafficking, sale of human body parts and tissue,
Human cloning or asexual reproduction.
The most common structure for foreign investors setting up operations in Vietnam is Limited Liability Companies:
– Single or multiple owners
– 100% foreign-owned or JV
– Legal representative required
– Setup time 5-8 weeks
The ideal company for foreign investors who require complex corporate structures is Joint Stock Company:
– Minimum 3 owners
– 100% foreign owned or JV
– Management board required
– Setup time 5-8 weeks
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