COMPANY STRUCTURE
According to the Enterprise Law 2020, there are 5 main types of enterprises: Joint Stock Company (JSC), Limited Liability Company with One Member (LLC, Ltd), Limited Liability Company with Two or More Members (LLC, Ltd), Partnership, Private Enterprise (for Vietnamese only) (DNTN). The most common types are: Joint Stock Company, Limited Liability Company with One Member, Limited Liability Company with Two or More Members.
According to the provisions of the Investment Law, foreign investors can own up to 100% of the company's authorized capital, subject to a number of restrictions and not yet permitted for foreign investors.

CURRENT ACCOUNT
To open a bank account, the director must be present. Most banks are specialized in working on the domestic market and in the local currency VND. We work with banks that open multi-currency accounts (USD, EURO, SGD… including CNY) and have correspondent accounts abroad, which allows us to make international transfers with most countries in the world. There are virtually no limits on sending funds abroad in VND with automatic conversion to the recipient bank’s currency. There are also no limits on receiving, storing, and sending funds in foreign currencies.

TAXATION AND REPORTING
The tax rate for a company is uniform in most cases and is 20% (corporate income tax). The company's activities are also subject to VAT, which is 0-10%.
Reports must be submitted quarterly and annually (in some cases monthly). In addition to the main tax reports, it is necessary to submit reports on investment activities and capital investments.

COMPANY REGISTRATION PROCESS
- The client comes up with a company name in English.
- The client provides us with the legal address (we can provide it).
- The client informs us of the types of activities.
- The client makes an advance payment in the amount of 50% of the total cost of the service.
- A Vietnamese nominee will open a Vietnamese company and act as a nominee director.
- Within 3-7 working days, the company is registered and the statutory documents are issued.
- After the company is registered, a bank account is opened. The client gets access to the personal account and can receive money into his account,
- The client sends the passport details of the shareholders in whose name the company will be registered. Then the procedures for transferring 1-50% of the shares to foreigners will take place (the process will take 7 working days). with 50-100% of the shares to foreigners (the process will take 25-35 working days).
- The client pays the remaining 50% of the total cost and receives the company registration.