Business and Investment in Vietnam is not only economically attractive, it can also rely on a modern legal framework. The practical business requires highly qualified management and understanding of legal and practical conditions.With the new provision of having more than one Legal Representative, the typical foreign invested Limited Liability Company can be organized according to international standards.
The new law states that all business lines not being prohibited or restricted are free. This is a major improvement; the implementation on the administrative level probably will take time and needs patient persuasion.
Types of Vietnam Companies available for foreign direct investment
(a) Representative Office;
(b) Branch Office;
(c) Limited Liability Company (“LLC”);
(e) Joint Stock Company (Shareholding Companies) (“JSC”).
A foreign investor can own up to 100 (one hundred) percent of the charter capital depending on the business lines and models of investment. A thorough examination of the business lines, legal framework, WTO commitments and regulations under Free Trade Agreements are necessary.
For limited liability companies and joint stock companies, capital contribution must be fully paid within 90 days from the issuance day of Enterprise Registration Certificate.
For a LLC the law does not state a general required minimum Charter Capital. However, it has to be in a reasonable relationship to the intended business. For certain business lines the law does state a minimum Charter Capital.
Shareholders & Directors
A typical Vietnam company will require the following key persons:
- Director (General)
- Legal Representative
- Authorized representative
Taiwan address is required for registration purpose. Tannet will be able to provide registered address.
Investment is currently not permitted in following sectors:
– Business in some of drugs1;
– Business in some chemicals and some mineral2;
– Business in specimens of wild fauna or flora according to the Convention on International Trade in Endangered Species;
– Business in specimens of species of endangered and rare wild fauna or flora3;
– Business in prostitution;
– Purchase or sale of humans, tissues or parts of human body;
– Activities relating to asexual reproduction.
If you have further queries, please contact Tannet
24 hours Malaysia hotline：603-21418908;
24 hours Hong Kong hotline：852-27837818;
24 hours Hong Kong hotline：86-755- 36990589;