Corporate Setup & Registration in Phu My Ward, HCMC

Amidst the latest administrative restructuring, Phu My Ward is emerging as a premier investment hotspot in Southern Ho Chi Minh City, bolstered by synchronized infrastructure and robust economic development policies. Establishing a business here not only allows investors to maximize geographical advantages but also unlocks strategic trade connectivity within the region. In the following article regarding corporate setup & registration in Phu My Ward, HCMC, Viet An Law provides essential legal insights into the enterprise formation process in Phu My Ward, ensuring full compliance with current statutory regulations.

Key Reasons to establish an enterprise in Phu My Ward, Ho Chi Minh City

Key Reasons to establish an enterprise in Phu My Ward, Ho Chi Minh City

From July 1st, 2025, Phu My Ward will officially be formed by merging Phu My Ward and My Xuan Ward from the former Ba Ria – Vung Tau province to become part of the expanded Ho Chi Minh City. This merger is not simply a consolidation of area, but a convergence of two industrial and port hubs, creating an administrative unit with an economic scale equivalent to a former Type II city.

With its new strategic location, Phu My ward boasts a prime position at the heart of the Thi Vai – Cai Mep deep-water port system and key industrial zones such as My Xuan A and My Xuan B1. The convergence of existing logistics infrastructure from Ba Ria – Vung Tau and the dynamic management mechanisms of Ho Chi Minh City facilitates easy access to international supply chains for businesses here. This is a crucial gateway for trade, enabling manufacturing and import/export businesses to maximize the advantages of the deep-water port system and expand into global markets. With abundant industrial land and the synergy of a highly skilled workforce in the urban core, Phu My ward is becoming an ideal location for investors to capitalize on the economic shift and maximize the added value from new management models.

Company registration dossiers in Phu My Ward, Ho Chi Minh City

Dossiers for registration of a sole proprietorship

According to Article 19 of the Law on Enterprises 2020, the sole proprietorship registration dossier includes the following documents:

• The enterprise registration application form.
• Copies of legal documents of the sole proprietorship’s owner.

Dossiers for registration of a partnership

Article 20 of the Law on Enterprises 2020 (amended and supplemented in 2025) lists the components of the dossier for establishing a partnership company as follows:

• The enterprise registration application form.
• The company’s charter.
• The list of partners; list of beneficial owners of the enterprise (if any)..
• Copies of legal documents of the partners.
• Copies of the Investment Registration Certificate of foreign investors as prescribed by the Law on Investment.

Dossiers for registration of a limited liability company

According to Article 21 of the Law on Enterprises 2020 (amended and supplemented in 2025), the dossier for establishing a limited liability company includes the following documents:

• The enterprise registration application form.
• The company’s charter.
• The list of members; list of beneficial owners of the enterprise (if any), for multiple-member LLCs.
• Copies of:
  • Legal documents of members who are individuals and legal representatives;
  • Legal documents of members that are organizations, documents about designation of authorized representatives and their legal documents. Legalized copies of legal documents of the members that are foreign organizations;
  • The Certificate of Investment Registration of foreign investors as prescribed by the Law on Investment.

Dossiers for registration of a joint stock company

According to Article 22 of the Law on Enterprises 2020, the dossier for establishing a Joint Stock Company includes the following documents:

• The enterprise registration application form.
• The company’s charter.
• The list of founding shareholders; the list of shareholders that are foreign investors; list of beneficial owners of the enterprise (if any)
• Copies of:
  • Legal documents of founding shareholders and shareholders that are foreign investors who are individuals and legal representatives;
  • Legal documents of shareholders that are organizations, documents about designation of authorized representatives; legal documents of authorized representatives of founding shareholders and shareholders that are foreign organizations. Legalized copies of legal documents of the members that are foreign organizations;
  • The Investment Registration Certificate of foreign investors as prescribed by the Law on Investment.

Some notes on enterprise establishment dossier

According to the guidance in Article 24 of Decree 168/2025/ND-CP on enterprise registration, individuals and organizations can omit some of the following documents in the enterprise registration dossier:

• Omit copies of legal documents of the following entities if they have declared personal identification numbers as prescribed in Clause 1, Article 11 of Decree 168/2025/ND-CP:
  • The sole proprietorship’s owner;
  • A partner of a partnership is an individual, or an authorized representative of a partner of a partnership is an organization;
  • Owner, member is an individual, legal representative, authorized representative of the owner, member is an organization for LLC;
  • Founding shareholders and foreign investor shareholders are individuals, legal representatives, and authorized representatives of founding shareholders and foreign investor shareholders are organizations in the case of joint stock companies.
• A copy of the Investment Registration Certificate for foreign investors is omitted if the following 2 conditions are met:
  • Foreign investors establish economic organizations to carry out investment projects before registering for investment to carry out special investment procedures according to the provisions of the law on investment;
  • Investors are responsible for the legality, honesty and accuracy of the declaration of information for carrying out special investment procedures.

Procedures to establish an enterprise in Phu My Ward, HCMC

Procedures to establish an enterprise in Phu My Ward, HCMC

Step 1: Prepare and submit dossiers

Individuals and organizations prepare dossiers to register to establish an enterprise according to the desired type of enterprise (as mentioned above) and submit the dossier as follows:

• Place to receive dossiers: Business registration office under the Department of Finance of Ho Chi Minh City.
• Application form: Individuals and organizations submit dossier in one of the following forms:
  • Submit directly;
  • Submit via postal service.

Step 2: Payment of fees

• The applicant shall pay the enterprise registration fee and the enterprise information publication fee at the time of submitting the enterprise registration dossier.
• Because it is done 100% online, enterprises only need to pay the fee for publishing enterprise information: According to Circular No. 47/2019/TT-BTC, the fee for publishing business information is: 100,000 VND/time (This fee is refunded if the enterprise registration dossier is not approved).

Step 3: The Business Registration Office receives and processes dossier

• The business registration authority shall register and enter information into the National Business Registration Information System when all of the following conditions are met:
  • Have all required documents;
  • The enterprise name has been filled in the enterprise registration application;
  • The phone number of the person submitting the enterprise registration application has been provided;
  • The fees and charges have been fully paid as required.
• The business registration authority issues a receipt of the dossier and makes an appointment to return the results to the applicant.

Step 4: The Business Registration Office returns the results

Case 1: Notice of request to amend or supplement enterprise registration dossier

• Within 03 days from the date of receiving the dossier, the Business Registration Office shall issue a written notice of the content that needs to be amended or supplemented to the business founder or enterprise if it falls into one of the following cases:
  • Invalid dossier;
  • The name of the enterprise requested for registration is not in accordance with regulations;
  • The information declared in the enterprise registration dossier is inconsistent.
• Amendment and supplement content: Ho Chi Minh City Business Registration Office will record all amendment and supplement requests in the notice. Therefore, enterprises can base on this notice to amend and supplement the dossier to comply with regulations.
• Time limit for amendments and supplements: 60 days from the date the provincial business registration authority issues a notice requesting amendments and supplements to the dossier. If the enterprise fails to submit amendments and supplements within the deadline, the enterprise registration dossier will no longer be valid. The provincial business registration authority will cancel the registration dossier according to the process on the National Business Registration Information System.

Case 2: Issuance of Enterprise Registration Certificate

Enterprises are granted an Enterprise Registration Certificate within 03 days from the date of receiving valid dossiers when they meet all of the following conditions:

• The registered business lines are not prohibited from investment and business and comply with the new VSIC code issued under Decision 36/2025/QD-TTg;;
• The name of the enterprise is established in accordance with the provisions of Articles 37, 38, 39 and 41 of the Law on Enterprises 2020;
• There is a valid enterprise registration dossier;
• The full enterprise registration fee is paid in accordance with the provisions of the law on fees and charges.

Step 5: Announcement of enterprise registration content

The business registration authority publishes the business registration contents on the National Business Registration Information Portal.

According to Article 32 of the Law on Enterprises, the content of the announcement includes:

• Enterprise registration certificate;
• Business lines;
• List of founding shareholders; list of shareholders who are foreign investors for joint stock companies (if any).

The deadline for public announcement of enterprise information is 30 days from the date of public announcement.

Step 6: Post-establishment procedures

• Seal engraving: Currently, the management and use of seals will be decided by the enterprise itself. Therefore, the enterprise has the right to decide on the seal design and engrave it at the seal engraving facility.
• Hang a signboard at the company’s headquarters.
• Register a digital signature (as required by the enterprise).
• Register a bank account.
• Register for tax declaration: Enterprises log into the electronic tax system with an account issued by the Tax Authority to register the necessary declarations.
• Register and notify the use of electronic invoices.
• …

Corporate income tax incentives for specific business lines in Phu My Ward, HCMC

Corporate income tax incentives for specific business lines in Phu My Ward, HCMC

Identifying the business lines is a crucial step in helping enterprises optimize their financial obligations and enhance their competitiveness right from the start. Currently, the State has issued a list of sectors eligible for corporate income tax incentives to encourage investment in key industries nationwide. Specifically, as stipulated in Article 12 of the Law on Corporate Income Tax 2025, these include:

Technology and innovation class

• High-tech: Applications, venture capital, and incubation of high-tech technologies.
• Digital technology: Software production, cybersecurity, and electronic devices.
• Semiconductor chips: Research, design, manufacturing, and testing of semiconductor chips.
• Artificial intelligence: Investment in building AI data centers.
• Science and technology enterprises: High-tech enterprises and science and technology enterprises.

Industry and infrastructure class

• Supporting industries: Manufacturing components for high-tech and automotive industries.
• Infrastructure: Investing in bridges, roads, airports, power plants, and water supply systems.
• Key industries: Manufacturing automobiles, high-grade steel, and agricultural machinery.
• Defense industry: Manufacturing for national defense and security purposes, and chemicals.

Agriculture and environment class

• Agriculture, Forestry and Fisheries: Forestry, livestock farming, aquaculture and seafood processing.
• Plant and Animal Breeding: Production, propagation and hybridization of plant and animal breeds.
• Environmental Protection: Production of renewable energy and waste treatment.
• Cooperatives: Cooperatives operating in agriculture, forestry, fisheries, and salt production.

Social and services class

• Socialization: Investment in education, healthcare, culture, and sports.
• Social housing: Construction of housing for policy beneficiaries to rent or purchase.
• Media: Publishing and journalism activities (including advertising).
• Business support: Incubation of small and medium-sized enterprises, co-working spaces.
• Microfinance: People’ credit funds and cooperative banks.

Large-scale projects class

• Large-scale projects: Projects with capital exceeding 12,000 VND billion, disbursed within 5 years.
• Special incentives: Projects eligible for special investment support.

How enterprises benefit from tax incentives under Decree 20/2026/ND-CP

Based on Article 7 of Decree 20/2026/ND-CP, the State officially applies the mechanism of exemption and reduction of Corporate Income Tax (CIT) to create strong financial incentives for the following three strategic groups of entities:

Group of Enterprises & Creative startup funds

• Target Audience: Investment fund management companies, innovative startups, and intermediary organizations supporting startups.
• Benefits: Exemption/reduction of corporate income tax on income from innovative activities.
• Incentive Period:
  • From the first year with taxable profit.
  • If no profit is generated in the first three years: From the fourth year (from the date of revenue generation).
• Conditions: Incentive income must be accounted for separately. If it cannot be separated, it will be calculated based on the revenue/expense ratio.

Group of Investors in Innovative startups

• Target Group: Enterprises with income from the transfer of capital/shares in innovative startups.
• Benefits: 100% exemption from corporate income tax on this income.
• Exclusions (Not eligible for exemption):
  • Transfer of shares of public/listed companies.
  • Transfer of capital in a single-member limited liability company associated with the transfer of real estate (subject to real estate transfer tax).

New Small and Medium-sized Enterprises (SMEs) registration

• Benefits: Exemption from corporate income tax for the first 3 years of operation.
• Calculation period: Continuously from the year the business registration certificate is first issued.
• Exclusion conditions (Not applicable):
  • Enterprises formed from division, separation, merger, or consolidation.
  • Enterprises where the manager/legal representative previously managed another business that has been dissolved within 12 months (calculated from the date of establishment of the new enterprise).

We hope the above information about corporate setup & registration in Phu My Ward, HCMC will be helpful. If you have any questions or require assistance with related legal issues, please contact Viet An Law for prompt support.