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Fast-growing Southeast Asian economy with manufacturing
Region
ASIA PACIFIC
Corporate Tax
20%
Setup Time
3 weeks
Currency
VND
Vietnam, one of Asia's fastest-growing economies, offers manufacturing competitiveness and young workforce. The country's improving company registration framework supports business setup for production and market access.
With a population of 100 million, Vietnam offers diverse living from dynamic Ho Chi Minh City to historic Hanoi. Vietnamese is official, with English growing. The tropical climate varies by region.
Healthcare varies, with quality private facilities in major cities. Safety is generally good. The cost of living is low.
The food, energy, and growth trajectory attract both business and lifestyle interest.
Corporate tax rate stands at 20%. Personal income tax reaches 35%. VAT applies at 10%. Various incentives support manufacturing and technology.
The Vietnamese dong is managed. The economy has grown through manufacturing exports, particularly to the US. Foreign investment has accelerated.
Company registration through the Department of Planning and Investment is established. Limited liability companies are common. Foreign ownership is permitted in most sectors, with restrictions in some.
Company formation takes approximately 2-4 weeks. Minimum capital varies by activity. Annual compliance includes tax and accounting requirements.
Vietnam has not established crypto license frameworks, with regulatory position uncertain. Digital asset activity occurs despite lack of clear regulation.
Gambling is restricted in Vietnam with limited pilot programs for casinos. Online gambling licensing does not exist.
Foreign ownership restrictions affect certain sectors. Bureaucracy can slow operations. Vietnamese language and relationship building help market engagement.
Banking access is available through Vietnamese and international banks. Professional services are developing.
Vietnam suits manufacturing, supply chain diversification, and businesses targeting Vietnamese consumer market for their business setup.
Local: LLC
Local: JSC
Local: Representative Office
| Corporate Tax Rate | 20% |
| Personal Income Tax Rate | 35% |
| VAT / Sales Tax | 10% |
| Capital Gains Tax | 20% |
| Withholding Tax | 0% |
| Reduced Corporate Tax Available | Yes |
| Non-Resident Withholding Exempt | No |
| Tax Treaty Network | Yes |
| Banking Access | MEDIUM |
| Financial Privacy | LOW |
| Currency Controls | SOME |
| Local Bank Account Required | Yes |
| Non-Resident Bank Account Allowed | No |
| Physical Presence for Banking | Yes |
| Banks Restrictive (High Risk) | No |
| AML Officer Required | No |
| MLRO Required | No |
| Compliance Officer Required | No |
| Data Protection Officer Required | No |
| Bookkeeping Frequency | Annual |
| Local Bookkeeping Required | Yes |
| Mandatory Audit | Yes |
| License Required | Yes |
| Local Director Required | Yes |
| Local AML Director Required | Yes |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Required Share Capital | $10,000,000,000,000 |
| Capital Maintained in Account | Yes |
| Compliance Program Required | Yes |
| Travel Rule Compliance | FATF Travel Rule |
| Business Plan Required | Comprehensive business plan with market analysis, technology architecture, risk management framework, and operational procedures required |
| Personnel Required | CEO, Legal Representative (resident in Vietnam), Compliance Officer, AML Officer, IT Security personnel |
| Insurance Required | No |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | No |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | No |
| Registry Access | License register maintained by Ministry of Finance - not publicly accessible |
| Renewal Period | Annual |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Quarterly |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | Yes |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | No |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | No |
| VAT Applicable | Yes |
| Regulators | Ministry of Finance (MOF), State Securities Commission (SSC), State Bank of Vietnam (SBV), Ministry of Public Security |
| Licensing Fee Details | Licensing fees to be determined by Ministry of Finance - pilot program launched September 2025 under Resolution 05/2025/NQ-CP |
| Permitted Business Models | Centralized Exchange (CEX) only under pilot program |
| Permitted Activities | Trading, Exchange services - limited to pilot sandbox initially |
| Restricted Activities | Privacy coins not specified but likely restricted, DeFi protocols outside sandbox, unlicensed crypto activities |
| Cross-Border Service Allowed | No |
| Physical Inspection Required | Yes |
| Derivatives Allowed | No |
| RWA Tokenization Allowed | No |
| App Store Listing Allowed | No |
| Crypto Custody Allowed | No |
| License Required | Yes |
| Local Director Required | Yes |
| Local AML Director Required | Yes |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Capital Maintained in Account | Yes |
| Compliance Program Required | Yes |
| Travel Rule Compliance | N/A for gambling |
| Business Plan Required | Comprehensive business plan required for casino integrated resort development |
| Personnel Required | Licensed managers with minimum 3 years experience, trained gaming staff, compliance personnel |
| Insurance Required | No |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | No |
| Registry Access | License information maintained by Ministry of Finance - not publicly accessible |
| Renewal Period | Annual |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | Yes |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | No |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | No |
| VAT Applicable | No |
| Regulators | Ministry of Finance, Ministry of Public Security, Ministry of Planning and Investment |
| Licensing Fee Details | Fees determined on case-by-case basis based on project scale - casinos must be part of integrated resort developments |
| Permitted Business Models | B2C only - casinos within integrated resorts, lottery (state-owned only), sports betting (pilot program) |
| Permitted Activities | Casino gaming (foreigners unrestricted, Vietnamese nationals under pilot with income/age requirements), horse/greyhound racing betting, international football betting, lottery |
| Restricted Activities | Online gambling prohibited, casino-style online games banned, Vietnamese nationals generally prohibited from gambling except under strict pilot conditions |
| Cross-Border Service Allowed | No |
| Physical Inspection Required | Yes |
| Player Fund Segregation | Yes |
| B2B/B2C Separate Requirements | Yes |
| License Required | Yes |
| Local Director Required | Yes |
| Local AML Director Required | Yes |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Required Share Capital | $50,000,000,000 |
| Capital Maintained in Account | Yes |
| Compliance Program Required | Yes |
| Travel Rule Compliance | FATF compliant |
| Business Plan Required | 3-year business plan required with market analysis, technology solutions, and financial projections |
| Personnel Required | Legal Representative (resident in Vietnam), university degree holder or 3+ years experience in business/finance/banking/law, qualified technical personnel |
| Insurance Required | No |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | No |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | No |
| Registry Access | State Bank of Vietnam maintains license register - 41+ licensed intermediary payment service providers as of 2025 |
| Renewal Period | Annual |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | Yes |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | No |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | No |
| VAT Applicable | Yes |
| Regulators | State Bank of Vietnam (SBV) |
| Licensing Fee | $10,000,000 |
| Licensing Fee Details | Application appraisal fee VND 10,000,000 (approx. USD 400) - processing time up to 60 working days |
| Permitted Business Models | Intermediary Payment Service Provider (IPS), E-wallet provider, Payment gateway, Financial switch services, Electronic clearing services |
| Permitted Activities | E-wallet services, online payment gateway, collection/payment support services, electronic funds transfer support, financial switching, electronic clearing |
| Restricted Activities | Banking services (requires separate banking license), deposit-taking, lending (requires NBCI license), foreign exchange without license |
| Cross-Border Service Allowed | No |
| Physical Inspection Required | Yes |