How to register an LLC in Vietnam?
Registering a Limited Liability Company in Vietnam is an important consideration for local and overseas businessmen interested in investing in the Vietnamese market and operating legally in Vietnam. With the help of One IBC Vietnam, the procedure can be handled effectively while also adhering to Vietnamese law.
Key Steps to Register an LLC in Vietnam
1. Select the Business Type
Vietnam allows two main forms of LLCs:
- Single-Member LLC: Owned by one individual or organization.
- Multi-Member LLC: Owned by two to fifty members.
The chosen structure determines ownership rights, management, and profit distribution.
2. Select a company name and address
The company name has to be unique and must also be approved by the Department of Planning and Investment (DPI).
Registered local address: This is mandatory for every LLC; it will act as the contact address for the company.
3. Prepare Required Documents
Typical documents include:
- Application for Enterprise Registration
- Company charter (Articles of Association)
- List of members or shareholders
- Legal identification documents of investors
- Proof of registered office address
4. Submit Application to the DPI
The final application form is then filed at the DPI in that province or city where the company is situated. The Business Registration Certificate is obtained upon approval, ensuring that the LLC has formally been formed.
5. Post-Registration Procedures
The next steps, after completion of the registration process, include registering for a tax number, setting up a business bank account, making a company seal, and fulfilling the requirements for accountancy and reporting.
Conclusion
The process for setting up an LLC in Vietnam also has numerous government requirements, from registration with the Department of Planning and Investment to satisfying regulatory requirements after the approval process. With One IBC Vietnam’s comprehensive support throughout the entire process, setting up a company for growth in Vietnam, an attractive market in Southeast Asia, is possible.
