Company FormationVietnam

Vietnam is a vibrant and dynamic country located in Southeast Asia, bordered by China, Laos, and Cambodia. It boasts a rich cultural heritage and a fast-growing economy, making it an ideal destination for foreign investors.

Vietnam offers numerous advantages for non-residents seeking to establish businesses. With a streamlined company registration process, attractive tax incentives, and a supportive legal framework, Vietnam provides a strategic gateway to Asia's thriving markets.

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Benefits of Establishing a Company in Vietnam for Foreign Investors

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Vietnam offers a progressive corporate tax regime designed to attract foreign investment. The corporate income tax (CIT) rate has steadily declined over the years, fostering a competitive business environment. Key milestones include:

  • 2004–2008: 28% CIT
  • 2009–2013: 25% CIT
  • 2014–2015: 22% CIT
  • From 2016 onwards: 20% CIT

Additional tax incentives target essential sectors, encouraging investments that stimulate economic growth and innovation. These measures create favorable conditions for enterprises to expand and thrive in Vietnam.

Vietnam’s Import and Export Tax Law includes specific provisions to support high-tech and science-focused businesses:

Exemptions: Businesses in high-tech fields, science-tech organizations, and similar sectors are exempt from import taxes on raw materials and components not produced domestically for five years.

Tax Incentives for Processing:

Goods imported for foreign processing are exempt from import tax, while processed goods returned to foreign parties are exempt from export tax.

Tax payment deadlines for imported goods used in processing can be extended up to 275 days.

Taxes on goods temporarily imported for re-export can be deferred for 15 days after the expiration date.

Fixed Assets: Import tax exemptions apply to fixed assets for investment projects in special zones or socio-economically challenged areas.

Foreign investors benefit from reduced land rent rates, with general land rent potentially lowered from 1.5% to 1%. Additionally, Vietnam employs a flexible land cost adjustment mechanism, making it an increasingly attractive destination for foreign investments in Southeast Asia.

Vietnam’s transparent and consistent investment legal system promotes foreign direct investment (FDI). Key highlights include:

100% Foreign Ownership: Foreign investors can fully own their companies.

Simplified Procedures: Administrative processes are streamlined.

Equal Treatment: Vietnamese and foreign-invested businesses are treated equally.

Open Legal Environment: Investors have full authority over project decisions, from formation to operations, with the government’s role limited to guidance and supervision.

 

Long-Term Visas: Company owners can apply for investor visas valid for 1–2 years.

Personal Banking: Foreign investors can open personal bank accounts in Vietnam.

Property Ownership: Investor visa holders can purchase apartments in Vietnam.

 

Company Formation Vietnam

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