Streamline your business venture with competitive fees and efficient company establishment in Vietnam. With the continuous development of the market economy, many individuals aspire to establish companies, a trend that has been widely embraced in recent years. In this article, Viet An Law will summarize the fee for establishing a company in Vietnam. Unlock growth opportunities by leveraging our expertise in navigating the Vietnamese company formation process with transparent, cost-effective solutions.
Table of contents
A certificate of enterprise registration (ERC) is a paper or electronic document recording information about business registration issued by the business registration agency to enterprises. An enterprise is granted an enterprise registration certificate upon fulfilling all the requirements prescribed by applicable laws.
According to Vietnamese law, the founders must register the business when establishing a company. Specifically, the business registration fee for issuing, reissuing, and changing the content of the ERC and the Certificate of Registration of Operation of Branches, Representative Offices, and Business Locations of an enterprise is VND 50,000/time. If an enterprise registers its business online, this fee will be waived.
According to article 32 of the Law on Enterprise 2020, after an enterprise is granted the certificate of enterprise registration, it shall announce it on the National Enterprise Registration Portal and pay the fee as prescribed by law. Within 30 days from the date of publication, businesses must publish the business registration content on the National Information Portal.
According to Decree 01/2021/ND-CP businesses must pay business registration fees at the time of submitting documents to establish a company.
According to regulations in Circular 47/2019/TT-BTC, the business establishment registration fee is 100,000 VND/time.
An enterprise seal is a special means enterprises use to stamp on their documents and papers. The seal reflects the legal status and affirms the legal value of the documents and papers on which it is stamped. The company’s transactions must be stamped to take effect, otherwise, they will be considered invalid.
According to Article 43 of the Law on Enterprise 2020 and implementation guidance documents, the enterprise shall decide the type, quantity, design, and content of its seal and the seals of its branches, representative offices, and other units.
Registering a seal is an important step in establishing a company. The fee for registering a seal is from 300,000 VND to 500,000 VND depending on the type of seal and the number of seals that need to be registered.
A digital signature is information attached to data, which can be in the form of text, images, or videos, to identify the owner of the data. Digital signatures are an indispensable part of electronic invoices and authenticate that the electronic invoice is issued by which unit.
Cost depends on the provider and the number of years of service. Digital signatures with 03 years of use range from 2,000,000 VND to 3,000,000 VND.
Electronic invoices are a common phrase for businesses today. Electronic invoices are a set of electronic data messages about the sale of goods and the provision of services, which are created, established, received, stored, and managed by electronic means. Electronic invoices are created, processed on the computer system of an organization that has been granted a tax code when selling goods, and services, and stored on the computers of the parties by the provisions of the law on electronic transactions.
From October 19th, 2020, the Government issued Decree 123/2020/ND-CP, according to which, from July 1st, 2023, when establishing a business, it is mandatory to use electronic invoices.
The cost of purchasing electronic invoice software ranges from 2,000,000 VND to 3,000,000 VND depending on the supplier.
Bank accounts play a crucial role in facilitating transactions between businesses, banks, and partners. Currently, almost all Tax Departments require businesses to pay taxes via electronic tax payment to minimize administrative procedure overload. While there is no legal mandate for businesses to open bank accounts, it remains an essential step for businesses.
Businesses must open a bank account for transactions and to pay taxes according to current mandatory regulations. The minimum balance requirements for maintaining a bank account vary depending on the chosen bank and the currency of the account (VND or USD). In general, businesses need to ensure the account balance is at least 1,000,000 VND ( for VND accounts) and from 50 to 100 USD (for USD accounts).
A license fee (or license tax) is an amount of money that must be paid annually or when starting production or business based on the charter capital stated in the business registration certificate/investment capital stated in the certificate. Investment registration certificate (for organizations) or annual revenue (for business households and individuals).
In addition, according to Article 3 of Decree 139/2016/ND-CP on licensing fees, there are some cases of license fee exemption for newly established enterprises or small and medium-sized enterprises transitioning from household businesses. These exemptions include:
License fee exemption for the first year of establishment or commencement of production/business activities (from January 1 to December 31) for:
Licensing fees for organizations involved in the production and business of goods and services include:
The licensing fee rates for the organizations specified above are based on the charter capital written in the certificate of business registration or on the investment capital written in the certificate of investment registration in case there is no charter capital.
Step 1: Submit the business establishment documents to the Department of Planning and Investment
Step 2: Publish business information content
Step 3: Engrave the business seal
Step 4: Apply for relevant business licenses
Step 5: Post-establishment procedures.
Clients will receive the following deliverables according to the legal service contract packages. The specific deliverable for each client will depend on the work agreement between the two parties. These are the common deliverables that clients receive after using the company establishment service at Viet An Law Firm:
This is the company establishment fee in 2024. If clients have any questions or require assistance with establishing a company in Vietnam, please do not hesitate to contact Viet An Law Film!
