Aug 21, 2015
Business License
Any company that conducts business in Vietnam first must create a business license, issued by the government departments. The business license must contains the following information:
- The name of the Company (Both in Vietnamese and in English)
- Details of the company Directors
- The type of company being set up
- Details on the amount of capital invested in the company
- Details of the percentage ownership of each investor
- The areas of business in which the company intends to operate
Once the license has been issued, the company can then begin trading. In general, small business formation involves first setting up a 100% Vietnamese owned company with 2 Vietnamese directors. A new contract is then drawn up transferring ownership to the foreign business person. Although previously, a foreigner could only own 49% of their business (51% to the Vietnamese director), this has since changed and you can now own up to 99% of your company and this will appear on the company business license.
Please contact our staff so that we can assist you in setting up your company. We will advise you on the safest and most efficient way to set up your company so that you can succeed from the beginning.
Another point of interest for expats is that having a registered company means you are eligible to apply for a Temporary Residency Card for a period of 1- or 3 years. Please view our information on Temporary Residency Cards HERE.
Come and visit us at your leisure for a Free
Consultation. Call 093.396.9739 (Ms. Trang)
