Vietnam
Key entity, tax, banking, visa, and compliance guidance for foreign founders incorporating in Vietnam.
Foreign Ownership Eligibility
Vietnam welcomes 100% foreign-owned companies
Fully remote formation — you never need to set foot in the country.
- LLC and JSC are common foreign-investor structures
- Headline corporate income tax is 20%
- Standard VAT rate is 10%
- Practical setup depends on IRC/ERC and sector approvals
Ownership
100% Foreign OK
Formation
100% Remote
Note
Vietnam FIE (Foreign-Invested Enterprise) requires: IRC (Investment Registration Certificate) from provincial DPI — 15 business days, then ERC (Enterprise Registration Certificate) — 3 business days. Total: approximately 20–25 business days. Some provinces (Hanoi, HCMC) have faster processing; sector approval may extend timeline.
Tax at a glance
Vietnam Tax Overview
20% headline CIT
Corporate income tax
PwC Vietnam
10% standard rate
VAT
PwC Vietnam
Pros & cons
Advantages & Considerations
Key Advantages
Established enterprise registration infrastructure
Competitive headline corporate tax baseline
Strong regional manufacturing and trade positioning
Considerations
Practical FDI timelines vary by province and sector
Licensing path complexity can differ by business classification
Operational setup requires tight post-licensing execution
Incorporation Process
The process is strictly digital. Each stage builds on the previous one.
Assess investment route
Prepare company and project documents
Complete registration filings
Finalize tax and labor setup
What you'll pay
Cost Architecture
Government Fees
Annual Ongoing
Professional Services
Provincial and sector approvals can materially change total setup time.
Still unsure about costs?
These are estimates — your actual cost depends on your structure
Every Vietnam setup is different. A 15-minute call with one of our specialists will give you a personalised cost breakdown — completely free.
Fintech & Banking
Can non-residents open accounts without visiting? YES.
Banking options for non-resident founders in Vietnam. Remote account opening availability varies by institution.
| Institution | Type | Ease for Non-Residents | Notes |
|---|---|---|---|
| Vietcombank | Traditional bank | Low (Visit Required) | Institution and documentation dependent • Varies by institution • Bank-specific • Registration records, tax profile, UBO data, business activity proof • Bank transfers, cards, online banking |
| BIDV | Traditional bank | Low (Visit Required) | Institution and documentation dependent • Varies by institution • Bank-specific • Registration records, tax profile, UBO data, business activity proof • Bank transfers, cards, online banking |
| VietinBank | Traditional bank | Low (Visit Required) | Institution and documentation dependent • Varies by institution • Bank-specific • Registration records, tax profile, UBO data, business activity proof • Bank transfers, cards, online banking |
| Techcombank | Traditional bank | Low (Visit Required) | Institution and documentation dependent • Varies by institution • Bank-specific • Registration records, tax profile, UBO data, business activity proof • Bank transfers, cards, online banking |
| Digital options vary by banking partner | Fintech | High (Remote) | Institution and documentation dependent • Varies by institution • Bank-specific • Registration records, tax profile, UBO data, business activity proof • Bank transfers, cards, online banking |
Regulatory requirements
Annual Compliance Matrix
| Requirement | Deadline | Details |
|---|---|---|
Tax declarations and annual finalization | Ongoing | Meet periodic and annual tax obligations under Vietnamese rules. |
Accounting records | Ongoing | Maintain compliant bookkeeping and statutory reporting records. |
Labor/social filings | Ongoing | Complete labor and social insurance filings where required. |
Frequently Asked
Speak with a Vietnam specialist
Get personalised guidance on entity types, costs, timelines and banking — free, no commitment needed.