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Step-by-step regulatory requirements organized by timeline phase
FDI projects must obtain an IRC from the Department of Planning and Investment (DPI) before incorporation. IRC application requires investment plan, financial capacity proof, and project location.
Obtain Enterprise Registration Certificate (ERC)
After IRC, register the company with DPI to obtain the ERC and enterprise tax code. Standard processing 3-5 working days for limited liability companies.
Open Corporate Bank Account
Open a VND and foreign currency capital account with a Vietnamese bank (Vietcombank, BIDV, VietinBank). Required to receive paid-in charter capital from foreign investors via the Direct Investment Capital Account (DICA).
Apply for Work Permits for Foreign Staff
Apply for work permits at DOLISA for each foreign employee. Process requires criminal record certificate, university degree, 3-year experience proof, and health check; 5 working days standard.
Apply for Sub-Licences
Sectors such as F&B, retail, education, real estate, e-commerce (MOIT), banking (SBV), and pharmaceuticals (MOH) require operating sub-licences in addition to the IRC/ERC.
Make Seal and Register with Police
Engrave the company seal and notify the seal sample to DPI for online publication. Since 2021 seal management is delegated to the company but registration of the sample is still required.
Register at the local Tax Department within 10 working days of ERC issuance to activate the tax code, register accounting method, and choose VAT calculation method (deduction vs direct).
Register Initial Labour Status
Submit initial labour declaration to the local DOLISA within 30 days of operations. Register internal labour rules if employing 10 or more workers.
Register with Vietnam Social Security
Register the company and each employee with VSS for social insurance (17.5% employer + 8% employee), health insurance (3% + 1.5%), and unemployment insurance (1% + 1%).
Issue Electronic Invoices (e-Invoice)
Mandatory e-invoicing via GDT-approved providers (Viettel, VNPT, Misa) since 1 July 2022. Register the e-invoice template with the Tax Department before issuing the first invoice.
Monthly or Quarterly VAT Returns
File VAT returns and pay net VAT monthly (revenue over VND 50 billion) or quarterly. Standard rate 10%; 5% reduced; 0% on exports. Filing deadline is the 20th of the following month or last day of the first month after quarter-end.
Quarterly CIT Prepayments
Self-assess and pay quarterly Corporate Income Tax instalments (20% standard rate) by the last day of the first month after the quarter-end. Reconcile via annual CIT return.
Monthly Payroll Withholdings
Withhold and remit personal income tax (5-35% progressive) and social, health, and unemployment insurance monthly. PIT remittance by 20th of following month; social insurance by last day of the month.
Annual CIT Finalisation Return
File annual Corporate Income Tax finalisation within 90 days of fiscal year-end (typically 31 March for calendar-year companies) along with audited financial statements.
Mandatory Audit and Annual Financial Statements
All FDI companies must engage an independent licensed auditor and file audited financial statements with DPI, GDT, statistics office, and provincial bank within 90 days of FYE.
FDI Investment Reporting
Submit periodic investment reports (monthly, quarterly, and annual) to DPI and the Ministry of Planning and Investment via the National Foreign Investment Information System.