Investing in Vietnam: your business setup guide

Start with the operating model

A manufacturing project, a domestic distribution business and a software-services company should not start with the same investment checklist. Write down the activity, customer location, ownership chain, premises, employees, funding sources and intended path to profitability. Then test permissions and capital requirements against that actual business.

Vietnam's investment environment combines an export-oriented production base and trade connections with practical constraints around infrastructure, skills and regulatory implementation, as described in the 2025 investment-climate assessment. Treat that report as economic context, not a substitute for the investment and tax rules that subsequently changed. (2025 Vietnam investment climate)

Work through the investment decisions

1. 1
   Economy and investment environment assess demand, supplier dependence, logistics and execution capacity instead of relying on a country growth story.
2. 2
   Ownership and market access separate the ability to invest, company registration and permission to operate the activity.
3. 3
   Capital accounts and repatriation plan the funding route before transferring equity, shareholder loans or sale proceeds.
4. 4
   Corporate tax and incentives test the project, location, eligible income and starting dates rather than assuming that a zone guarantees relief.
5. 5
   Risk, governance and exit plan ownership controls, permit diligence, working capital and the eventual transfer or closure.

Keep the approval sequence and the money sequence together

Prepare a single timetable showing approvals, entity establishment, capital-account opening, funding, premises commitments and operational launch. A financing plan should say which account receives each payment and which document supports it. A project plan should say which work cannot start until a particular permission exists.

This is especially important after the foreign-exchange changes effective 18 August 2026: limited pre-IRC account opening is not a general exemption from investment or operating permissions. (DFDL explanation of Circular 38)

Move from country research to a specific project

Use preparing a market-entry brief, company and operating permissions, location selection and work-permit and residence planning for the next level of detail. Ask for a written assessment of the project, not a generic confirmation that foreign investment is possible.

Plan your move and international payments

Connect the investment with your personal and operating plans. Read personal tax and residency before relocating, and international business payments before agreeing cross-border contracts.