From initial investment registration to opening a corporate bank account, this step-by-step guide covers the full incorporation timeline for a foreign-invested enterprise.
Establishing a foreign-invested enterprise (FIE) in Vietnam involves a sequence of government approvals that, when properly managed, can be completed in 45–60 days for most business lines.
Step 1: Investment Registration Certificate (IRC)
The first step is obtaining an IRC from the Department of Planning and Investment (DPI) in the province where your business will be located. Ho Chi Minh City and Hanoi have dedicated Foreign Investment departments with faster processing times than provincial offices.
For investment projects in conditional sectors, the IRC application must include a feasibility study and evidence of financial capability. For unconditional business lines, the process is largely document-driven.
Step 2: Enterprise Registration Certificate (ERC)
Once the IRC is issued, the company obtains its ERC from the same DPI. This document establishes the legal entity — assigning a tax code, registering the company name and charter capital, and specifying the business lines.
The ERC is typically issued within 3 working days of a complete IRC application.
Step 3: Post-Registration Formalities
After ERC issuance, a flurry of parallel activities begins: engraving the company seal, registering with the tax authority, opening a bank account, publishing the incorporation notice in the National Business Registration Portal, and — for companies employing staff — registering with social insurance.
Step 4: Sub-Licences
Many business lines require additional sub-licences beyond the IRC/ERC. Food safety certificates, trading licences, construction permits, and education licences are examples. Mapping your required sub-licences before starting the IRC application prevents costly delays downstream.
