Services

1. Vietnam Company Registration

Pinklaw provides excellent services for opening new companies in Vietnam. We help you to register a company with local authorities regardless of whether you are in Vietnam or not.

Owning in a company means you will have a Vietnam Investor Visa (DT Visa). This is one of the three easiest ways to get a long-term residence in Vietnam (from 2-5 years, even up to 10 years before needing to renew).

How many company models in Vietnam?

In Vietnam, there are two business models: limited liability companies (LLCs) and limitless liability businesses, including partnerships and private enterprises. Pinklaw does not recommend choosing the second model because they are 'limitless' liability and are not common in Vietnam.

Depending on elections made by the LLC and the number of members, Pinklaw will treat an LLC as either a single-member LLC, an LLC with at least two members, or a corporation.

In this practice we help you:

➢ Register a LLC having only one owner

➢ Register a LLC having two to fifty owners

➢ Register a corporation (having three to unlimited owners)

Service charge (Tax-excluded):

	Service Name	Time Frame	Charges
1	Document Legalization	5 days	USD 150-200
2	Investment Certificate*	40 days	USD 1,000
3	Company Certificate	10 days	USD 100
4	Post-establishment consulting	6 months	Free
	Total:		USD 1,250-1,300

(*) For restricted business lines, we will have a specific quote.

What do we support after receiving the certificate?

After receiving the certificate, we will help you with the following:

- Give you a company digital signature

- Give you a company seal

- Submit the initial tax forms

- Set the initial accounting mode

- Give you a company name plate

- Open a corporate bank account and a personal account (if needed)

- Regularly remind you to comply with regulations in doing business in Vietnam

- Connecting you with FDI companies in the same field

The above works are absolutely free. Pinklaw is always by your side throughout your business journey.

2. Business Registration & Money Transfer Abroad

Pinklaw provides services to citizens residing in Vietnam and Vietnam-based companies opening companies or subsidiaries abroad (offshore companies).

There will be two steps to the process:

- Step 1 is to register at the Ministry of Planning and Investment of Vietnam to be granted an Offshore Investment Registration Certificate ("Offshore IRC"). This is a document to safely transfer money abroad.

- Step 2 is to proceed according to the regulations of the host country.

Pinklaw has partners in Switzerland, the EU and TPP countries (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore) to directly carry out the procedures in the host country.

Some notes for Vietnamese investment abroad:

- Offshore investment-related outbound and inbound transfers of money shall be conducted via a separate capital account opened at a licensed credit institution in Vietnam and shall be registered with the State Bank of Vietnam.

- An investor may transfer abroad investment capital for carrying out investment activities when meeting the following conditions:

+ Having obtained an Offshore IRC.

+ The investment activities have been approved or licensed by a competent agency of the host country.

+ Having a capital account.

- The outbound transfer of investment capital must comply with the laws on foreign exchange management, export and technology transfer, etc.

- Investors may transfer abroad foreign currency amounts or goods, machinery and equipment for serving market survey, research and probing activities and other investment preparation activities under the Government’s regulations.

Within 6 months from the date of issuance of a tax finalization statement or a paper of equivalent legal validity under the law of the host country, investors shall transfer all profits and other incomes earned from overseas investment activities to Vietnam, EXCEPT:

a/ Continue to contribute capital

b/ Increasing capital

c/ New investment projects abroad

Please do not hesitate to contact Pinklaw for advice on opening an offshore company and transferring money abroad.

3. Business Expansion and Closure

Pinklaw provides services to Vietnamese and foreign legal entities in opening branches and representative offices in Vietnam. Includes:

➢ A Vietnam-based company establishes a branch in Vietnam

➢ A Vietnam-based company establishes a representative office in Vietnam

➢ A foreign-based company establishes a branch in Vietnam

➢ A foreign-based company establishes a representative office in Vietnam

➢ Registration change (including mergers and acquisitions, M&A)

➢ Suspend business

➢ Announces dissolution

➢ Declare bankruptcy

You can see detailed services for foreign legal entities in "Establishing a Branch Office, Representative Office or Liaison Office in Vietnam" and "Closing Branch Office, Representative Office or Liaison Office in Vietnam".

4. Vietnam Restricted Business Lines

In Vietnam, we are free to do business in all sectors, except those listed in 4 lists which are called 'negative' lists. They are:

⭕ List 1: Prohibited list

⭕ List 2: Conditional list

⭕ List 3: Closed list

⭕ List 4: Restricted list

Lists 1 and 2 apply to all investors. Lists 3 and 4 apply further to foreign investors. Foreign investors are not allowed to participate under any circumstances in business lines listed in List 3, and for List 4, must satisfy certain market entry conditions to invest.

Pinklaw provides services to foreign investors in case involved in business lines listed in List 4.

5. Vietnam Long-Stay Visas

If wishing to reside in Vietnam, you, as a foreigner, is required to register your temporary or permanent residence in Vietnam with the Vietnam Immigration Department. To do this, you must first of all possess a valid foreign passport, a visa (if not exempted from visa) and other documents as prescribed in Articles 10, 37 and 41 of Law No. 47/2014/QH13 & No. 51/2019/QH14 on Entry, Exit, Transit and Residence of Foreigners in Vietnam (Vietnam Immigration Law).

According to the Law, Vietnam has 15 types of visas: NG, LV, LS, DT, DN, NN, DH, HN, PV, LD, DL, TT, VR, SQ & EV, of which the following three types are granted with longest duration (over 12 months): LS, DT & LD. More specific:

- LS: granted to foreign lawyers practicing in Vietnam.

- DT1: granted to foreign investors with a contributed capital of at least VND 100,000,000,000 (USD 4,333,333)

- DT2: granted to foreign investors with a contributed capital of at least VND 50,000,000,000 (USD 2,166,666)

- DT3: granted to foreign investors with a contributed capital of at least VND 3,000,000,000 (USD 130,000)

- LD1: granted to people who come to work with a work permit exemption.

- LD2: granted to people who come to work with a work permit.

	Symbol	Maximum visa	Card*
1	LS	5 years	5 years
2	DT1	5 years	10 years
3	DT2	5 years	5 years
4	DT3	3 years	3 years
5	LD1	2 years	2 years
6	LD2	2 years	2 years

(*) Granted for DT1; LS, DT2, LV1, LV2, NG3, DH; DT3, TT, NN1, NN2; LD1, LD2, PV1

Pinklaw provides services to foreign lawyers, foreign investors and foreign workers applying for LS, DT and LD visas to Vietnam.

6. Vietnam Citizenship

Vietnamese nationality reflects the cohesive relationship between individuals and the State of the Socialist Republic of Vietnam, giving rise to rights and obligations of Vietnamese citizens toward the State and rights and responsibilities of the State of the Socialist Republic of Vietnam toward Vietnamese citizens.

Pursuant to Article 19 of the Law on Vietnamese Nationality (Law No. 24/2008/QH12): "Foreign nationals and stateless persons permanently residing in Vietnam who file applications for Vietnamese nationality may be permitted for naturalization in Vietnam".

The law also stipulates: "A Vietnamese citizen who files an application for renunciation of Vietnamese nationality to acquire a foreign nationality may be permitted to renounce Vietnamese nationality." (Article 27)

Pinklaw provides services to foreigners naturalizing Vietnam and Vietnamese citizens renouncing their nationality, under the provisions of the Law on Vietnamese Nationality and international treaties to which Vietnam is a contracting party.

The following are some decisions of the State President on Vietnamese nationality from July 1, 2022:

*/ Decision on granting Vietnamese nationality:

— Decision No. 832/QD-CTN of the President dated July 25, 2022

...

*/ Decision on renunciation of Vietnamese nationality:

...

Please do not hesitate to contact Pinklaw regarding applying for Vietnamese citizenship and renouncing Vietnamese citizenship.

Updated on: March 1, 2023