Limited Liability Company (LLC) Registration in Vietnam
One of the most common legal entities set up in Vietnam is the limited liability company (LLC). An LLC may be 100% foreign-owned depending on the business’ industry.
Requirements for LLCs in Vietnam
To open an LLC in Vietnam, your business must meet certain requirements and conditions.
- The LLC must have at least 1 but no more than 50 founders. A founder may be an individual or a company. LLCs do not have shareholders.
- An individual founder must submit a notarized copy of his or her passport and a bank statement bearing his or her name.
- Corporate founders will have to submit corporate documents including a list of directors, among others.
- The LCC must have a resident director who can be an employee or a founder. If the director is not a founder and is a foreigner, he or she will need a work permit
- The business must have a registered address. Companies offering business or consultancy services may use a virtual office address
- There is no minimum capital requirement for most businesses in Vietnam. Companies in industries with no minimum capital requirement must present a reasonable and realistic amount for its planned business activities
- The company must pay the capital within 90 days of obtaining its Business Registration Certificate (BRC)/Enterprise Registration Certificate (ERC)
- Some businesses, like language schools or restaurants, require sublicenses or operational licenses. Such licenses may require meeting specific conditions for staff or facilities.
Emerhub can assist in processing your company registration including gathering and submitting documents on your behalf, as well as applying for sublicenses if necessary. We can also provide assistance in finding an address for your business.
Industries that allow 100% foreign ownership
Foreigners may open and own businesses in Vietnam. While some industries like tourism and entertainment require partnerships with locals, most businesses can be 100% foreign-owned.
Businesses that allow full foreign ownership include:
- Trading (wholesale and retail)
- Manufacturing
- Service
- Short-term training center/Language school
- F&B business
- IT company
Timeline for LLC Registration
A company can usually be set up within 1 month with Emerhub’s assistance. The table below details the average timeline of company registration done by Emerhub.
| Documents obtained | Timeline |
|---|---|
| Investment Registration Certificate | 20 days |
| Business Registration Certificate/Enterprise Registration Certificate | 1 week |
| TOTAL | 1 month |
The timeline above does not include the time it takes to obtain sublicenses. Emerhub can obtain sublicenses for your business in as little as 3 weeks.