Wholly foreign owned enterprise

To set up a Wholly Foreign-Owned Enterprise (WFOE) in Vietnam, international investors must first obtain an Investment Registration Certificate (IRC) followed by an Enterprise Registration Certificate (ERC).

WFOE licensing procedure :

• Prepare Dossier: Gather corporate documents, financial proof, and project proposals.
• Legalize and translate papers into Vietnamese.
• Obtain IRC: Submit the application to the local Department of Planning and Investment to get your Investment Registration Certificate.
• Obtain ERC: Register for the Enterprise Registration Certificate to officially form the legal entity.
• Post-Licensing: Make a company seal, open a Direct Investment Capital Account (DICA), and register for taxes.

The process to fully set up a Wholly Foreign-Owned Enterprise (WFOE) in Vietnam usually takes 4 to 8 weeks (approximately 30 to 45 business days) once all your physical documents are prepared and legalized.