Doing business in Vietnam: plain-English answers on Vietnamese business law

Mostly. Under Law No. 143/2025/QH15 on Investment, in force since 1 March 2026, foreign investors have the same market access as Vietnamese investors except in the lines on the Government's restricted list: Appendix I of Decree No. 96/2026/ND-CP closes 23 lines to foreign investors and opens 62 only on conditions. Sector licences and conditional business-line rules still apply.

In most sectors, yes. Wholly foreign-owned limited liability and joint stock companies are common. In the 62 conditional sectors on the market access list, such as banking, telecoms and logistics, conditions can include a foreign-ownership cap or a required partner.

Generally no. Article 26 of the Law on Investment requires an Investment Registration Certificate (IRC) for foreign investors and for companies more than 50% foreign-owned; domestic investors and companies at or below that threshold simply register the company. Some land-intensive projects still need investment policy approval whoever the investor is.

The statutory periods are ten working days for an IRC where no investment policy approval is needed and three working days for the Enterprise Registration Certificate. Since 1 March 2026 a foreign investor may incorporate first and obtain the IRC within 12 months; Vietnamese founders need only the Enterprise Registration Certificate.

The standard rate is 20% under Law No. 67/2025/QH15, with 15% for enterprises with annual revenue up to VND 3 billion and 17% up to VND 50 billion; from 2026, enterprises with revenue of VND 1 billion or less are exempt. Qualifying projects can obtain preferential rates of 10% or 17% and tax holidays.

Yes. Article 11 of the Law on Investment lets foreign investors transfer capital, liquidation proceeds and income abroad once their financial obligations to the State are met. Profits are normally remitted once a year, after the audited accounts and corporate income tax finalisation, through the company's investment capital account.

Negotiation and mediation first, then arbitration or the courts. Where a foreign investor or a company more than 50% foreign-owned is a party, the parties may choose foreign or international arbitration. The Vietnam International Arbitration Centre (VIAC) is the leading local institution, and Vietnam applies the New York Convention.

No one owns land outright: under the Land Law 2024 land belongs to the entire people, with the State as representative owner. Foreign-invested companies lease land from the State or sublease it in industrial parks, and foreign individuals may own certain housing within limits.

Yes, unless an exemption applies. Under Decree No. 219/2025/ND-CP, work permits are issued by the provincial People's Committee for up to two years and can be extended once.

Minerals are governed by Law No. 54/2024/QH15 on Geology and Minerals, as amended, and since 15 September 2026 are managed by the Ministry of Industry and Trade. Oil and gas are governed by Law No. 12/2022/QH15 on Petroleum, under contracts signed with Petrovietnam; a new Petroleum Law takes effect on 1 March 2027.

Petroleum is developed under petroleum contracts, usually production sharing contracts, signed with Petrovietnam (now the Vietnam National Industry - Energy Group) and approved by the Prime Minister. A contract can run for up to 30 years, or 35 years for incentivised blocks.

A lawyer in Vietnam needs a practising certificate granted by the Minister of Justice, membership of a provincial bar association and a lawyer's card issued by the Vietnam Bar Federation. Ask to see the card, check the lawyer with their bar association (the Hanoi Bar Association has a public online search), and agree the scope and fees in a written contract. For tax work, use a licensed tax agent.

Primary sources include the National Legal Database (vbpl.vn), the Official Gazette (congbao.chinhphu.vn) and the websites of the Ministry of Finance, the State Bank of Vietnam and the relevant sector ministry. For advice on your own situation, engage a Vietnamese lawyer who is a member of a provincial bar association.