How to Set up a Business in Vietnam in 2021 – InCorp Global

Requirements for Starting a Business in Vietnam

Capital Requirements for Starting a Business in Vietnam

As mentioned, there are no minimum capital requirements for starting a business in Vietnam for most industries. Specifically speaking, however, the Vietnam Government requires a new business to have ‘sufficient capital’. This means you must have enough capital to cover your expenses until the business becomes self-sufficient.

We find most businesses open with around VND 230 million (US $10,000). Still, we’ve also seen some smaller-scale businesses open with as little as VND 69 million (US $3,000). Either way, the Department of Planning and Investment will review your capital to ensure it is sufficient to get your particular business off the ground. This capital will be listed on your Business Certificate, and any change to your capital will require amendments to your company documents.

The full list of sectors that do require capital requirements is as follows:

• Vocational schools
• Finance and Fin-tech
• Real estate companies
• Language centres
• Insurance
• Banking

Foreign Ownership Requirements in Vietnam

In fact, Vietnam does allow 100% foreign ownership of a business in the majority of industries. Significant exceptions are logistics, advertising, and tourism, for which you will need a Vietnamese Joint Venture Company.

Generally speaking, foreign ownership regulations follow the World Trade Organisation (WTO) guidelines. However, there are some cases where some industries are neither covered by WTO guidelines nor by local laws — if this is the case, you will need approval for the ministry in charge of that industry.