Can my company be 100% foreign-owned?

Yes, a company in Vietnam can be 100% foreign-owned in selected sectors.

What is the minimum number of shareholders required for a Vietnam company?

A Vietnam company requires a minimum of two shareholders.

Is a Vietnam company required to submit an annual tax return and/or financial statement?

All foreign company in Vietnam are obliged to submit an annual return and are required to have their financial statements audited annually.

What is the minimum number of directors required for a Vietnam company?

Under statutory regulations, a Vietnam company requires a minimum of one director.

100% foreign owned company in Vietnam - Required to incorporation?

In order to complete incorporation, foreign-owned LLCs will be required to open a capital account with a local bank, required for share capital injection and transfers of future earnings abroad and obtain approval for a foreign investment certificate (FIC), required by the Vietnam government to allow foreigners to invest in Vietnam. Approval of the FIC requires a minimum investment, commonly set at US$10,000 but which may be higher in some industries.

All Vietnamese LLCs are also required at incorporation to provide the authorities with a registered address in Vietnam, which may be provided by One IBC if needed and a bank certificate of deposit for the amount of share capital, which will need to be transferred no later than 12 months after incorporation is complete.

Post incorporation, all foreign-owned LLCs must provide the authorities with an annual return and submit annual audited financial statements, which are a prerequisite for any remittance of earnings to their parent company.

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