4 Easy Steps to Start a Small Business for Foreigners in Vietnam

More and more foreigners are choosing Vietnam as a place to change their living and working environment. So why is Vietnam becoming a popular choice for many foreigners?

Vietnam is known as a strategically located country in Southeast Asia, serving as an ideal gateway for businesses looking to enter the ASEAN market. Additionally, Vietnam boasts strong economic growth, a favorable business environment, a young and dynamic population, and an abundant workforce with low costs.

By choosing Vietnam as your business destination, you’ll gain access to a vibrant market, government support policies, and skilled labor, laying the groundwork for business success.

In this article, let’s explore easy ways to start a small business for foreigners in Vietnam.

Step 1: Choose an industry that Vietnam does not restrict access to for foreigners

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Step 2: Choose a simple investment form

Currently, foreigners investing in Vietnam have three options: establishing a wholly foreign-owned company, acquiring shares of an existing Vietnamese company, or entering into a business cooperation contract with a partner in Vietnam.

The simplest and most suitable investment form is to acquire shares of an existing Vietnamese company. If you don’t have a Vietnamese company, you can establish one by collaborating with a Vietnamese individual to open a company with 100% Vietnamese capital, and then you can buy it back.

Step 3: Choose an industry that does not require investment capital

Choosing to invest in industries that do not require investment capital will give you the opportunity to establish a business project without the pressure of investment capital. Therefore, you will not be required to register a minimum capital amount according to the law; the investment capital will depend on your decision.

Step 4: Choose a shared office solution for your business registration address

To apply for a company license, you need to have a registered office address. Nowadays, there are many service companies providing shared office rental services or virtual offices for the purpose of business registration address. It is still guaranteed to comply with the law and can save a lot of costs if you plan to run a small business on your own.

These are the ways to easily start a small business for foreigners in Vietnam.

Click here to download a free Ebook guide on establishing businesses in Vietnam for foreign investors.

Refer how much does it cost to start a business in Vietnam

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