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F.A.Q
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How long does it take for foreigner to establish a company in Vietnam?Once all the applications and supporting documents are ready and in order on our end, it usually takes us about 3 weeks in total to set up a company. The breakdown of the time limit is as follows: the first 2 weeks for obtaining an Investment Registration Certificate (IRC) and another 1 week to get an Enterprise Registration Certificate (ERC). The sooner you provide us with the required details and documents, the sooner you will be able to form a company in Vietnam. The starting point of the time limit much depends on the availability of the the details and documents to be provided by you.
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What does the process of company establishment look like?We will help you apply for an Investment Registration Certificate (IRC) and an Enterprise Registration Certificate (ERC) and once they have all been issued, your Vietnamese company is operational. At first, you will send us a scanned copy of passports and other details on a director and shareholders, capital amount, company names, business activities, company address. We will check if your proposed company names and business activities are available before preparing all draft application documents. We will have the draft application documents sent to you via email. You will have them printed out, signed and returned to us together with other documents prepared by you (notarized copies of passports, proof of funds, and proof of company address). We will check and establish an application file before filing it to a relevant Department of Planning and Investment (a local government agency of a city/ province that registers Vietnamese companies).
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Do I need a company address?Yes, of course. All Vietnamese companies must have a local registered address. If you don’t have one already, use our virtual address service. We will help you handle your incoming letters, scan and store them in your Level Advise account so you have easy access to all your documents.
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What is the minimum capital amount?There is no requirement on the minimum amount of capital to set up a company in Vietnam, except for certain business activities that requires a legal capital. For instance, a real estate company must have a registered capital of VND 20 billion or more. We will advise you about the minimum capital on a case-by-case basis. If you want to decrease or increase the capital amount in the future, Level Advise will advise if so required.
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Is it compulsory to have local director/shareholder?Shareholder: No, it is not, except for certain business activities that require the certain percentage of local ownership in Vietnam companies. Director: No. You don’t need to have any local director in order to form a company in Vietnam.
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Do I need to visit Vietnam personally to open a company?Not at all! You can remotely handle Vietnam company incorporation by way of hiring Level Advise for the purpose. All you have to do is to provide us with all company details as well as documents in hard copy as so advised by Level Advise.
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