Core Licensing Process
Certificates
(IRC & ERC)
Minimum Statutory Timeline
Working Days
(Excludes document prep & conditional approvals)
Capital Injection Deadline
Days
(Post-ERC Issuance)
The Three-Phase Journey to Establishment
Each phase unlocks the next to ensure orderly, compliant setup.
Pre-Investment Planning
Strategy, documentation, groundwork.
Core Licensing
Obtaining IRC & ERC certificates.
Post-Licensing Setup
Becoming fully operational.
Phase 1: Pre-Investment Planning
Decisions & paperwork that de-risk applications later.
-
1.
Define Structure
LLC, JSC, or JV; check foreign ownership limits.
-
2.
Finalize Details
Name, business lines (VSIC), charter capital, location.
-
3.
Secure Address
Lease a commercially-zoned office.
-
4.
Prepare Documents
Legalize, notarize, translate foreign documents.
Phase 2: Licensing Timelines
IRC generally takes longer than ERC.
Phase 3: Post-Licensing Compliance Checklist
After ERC issuance, complete these steps before operations.
Company Seal & Bank Accounts
Engrave seal; open a DICA for capital injection and a VND operating account.
Tax & Labor Registration
Choose tax method, appoint chief accountant, register labor usage, pay Business License Tax.
Final Approvals
Conditional sectors need sub-licenses. Foreign legal reps: Work Permit & TRC.
Documentation Breakdown by Type
Three main categories—prepare, legalize, translate.
Key Document Requirements
👤 Individual Investors
- Notarized Passport Copy
- Personal Bank Statement
🏢 Corporate Investors
- Certificate of Incorporation
- Financial Statements (last 2 years)
- Power of Attorney
📄 Project
- Investment Project Proposal
- Office/Land Lease Agreement
⚠️ Legalization is Essential
All foreign-issued documents must be consular legalized, then translated and notarized in Vietnam.
Sources & Legal Definitions
📋 Key Abbreviations
- IRC
- Investment Registration Certificate
- ERC
- Enterprise Registration Certificate
- DICA
- Direct Investment Capital Account
- VSIC
- Vietnam Standard Industrial Classification
⚖️ Primary Legal References (Vietnam)
- Investment Law 2020 (Law No. 61/2020/QH14)
- Enterprise Law 2020 (Law No. 59/2020/QH14)
- Decree 31/2021/ND-CP (guides Investment Law)
- Decree 01/2021/ND-CP (enterprise registration)
ℹ️ Framework as of 2024/2025; subject to change—consult a legal professional.
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