Doing business in Vietnam

Vietnamese law is codified and made mainly by the National Assembly, with Government decrees and ministry circulars supplying detail, and laws have been revised at a fast pace in 2025 and 2026. Investment registration is handled by provincial finance departments or industrial park management boards, tax by the tax authority under the Ministry of Finance, foreign exchange and AML by the State Bank of Viet Nam, and work permits by provincial People's Committees. Official English texts are often translations, and the Vietnamese text prevails.

Key facts

Corporate income tax

20% headline rate

VAT

10% standard rate

Foreign market access

National treatment except listed restricted and conditional lines

Investment licence

Investment Registration Certificate for foreign projects and companies over 50% foreign-owned

Profit repatriation

Permitted after financial obligations are met

Data protection

Law on Personal Data Protection in force from 1 January 2026

Minimum wage (Region I)

VND 5,310,000 per month from 1 January 2026

Global minimum tax

QDMTT and IIR from 1 January 2024

The Law on Investment 2025 sets the entry rules for foreign investors. Market access is open except for business lines on the Government's negative list, and foreign projects, and companies more than 50% foreign-owned, need an Investment Registration Certificate. A foreign investor can now set up the company before completing project procedures.

Key facts

• Foreign investors have the same market access as domestic investors except for lines on the Government's list, which can limit ownership, form and scope.

• An Investment Registration Certificate is needed for foreign investors' projects and for companies with more than 50% foreign ownership.

• The company can be established before the investment project procedures are completed.

• Investment may be made by setting up a company, buying into one, executing a project or through a BCC.

Who handles this in VietnamSetting up and running a companyLicences, permits and regulators

Corporate income tax is 20% at headline level under a new CIT Law effective from October 2025, and the standard VAT rate is 10%. Vietnam has applied Pillar Two top-up taxes since 2024 and has strict transfer pricing rules, including a 30% of EBITDA interest cap. Tax figures here rely on PwC's summary because official English pages could not yet be checked.

Key facts

• The headline CIT rate is 20% and the standard VAT rate is 10%.

• The new CIT Law, effective 1 October 2025, brings foreign digital suppliers into scope and treats digital platforms as a possible permanent establishment.

• QDMTT and IIR have applied since 1 January 2024, with QDMTT returns due 12 months after year end.

• Related parties are defined at 25% and interest deductions are capped at 30% of EBITDA; a new transfer pricing decree applies from 1 July 2026.

• Annual CIT returns and audited financial statements are due within three months of year end.

Who handles this in VietnamTax and structuring · Chau Kim HienAccounting and annual filings · Tran Van Gioi

Vietnam sets four regional minimum wages, which rose from 1 January 2026. Work permits for foreigners are now handled by provincial People's Committees under a 2025 decree, with a wider list of exemptions. Social insurance obligations for foreign employees still need confirming.

Key facts

• Monthly minimum wages range from VND 3,700,000 (Region IV) to VND 5,310,000 (Region I) from 1 January 2026.

• Provincial People's Committees issue work permits and must decide within ten working days.

• Fifteen categories of foreign workers, including some owners, board members and intra-corporate transferees, are exempt from work permits.

• The PIT personal deduction rises to VND 15.5 million a month from 1 July 2026.

Who handles this in VietnamEmployment, payroll and immigration · Le Quoc Duy

Many sectors are conditional business lines that need sector licences or must meet set conditions, though the list was cut from 198 to 142 lines from 1 July 2026. Larger or sensitive projects need investment policy approval at national or provincial level. Incentives target prioritised sectors.

Key facts

• Conditional business lines fell from 198 to 142 on 1 July 2026.

• Business conditions can only be set by laws, National Assembly resolutions or decrees and must be published on the National Business Registration Portal.

• Investment policy approval is needed for listed project types, including foreign telecoms projects.

• Incentives for prioritised sectors include CIT, import duty and land levy benefits.

Who handles this in VietnamLicences, permits and regulators

Foreign investors may repatriate capital, profits and other lawful assets once their financial obligations in Vietnam are met. Foreign exchange control rules from the State Bank of Viet Nam, including the use of dedicated capital accounts, still need confirmation.

Key facts

• Foreign investors may transfer capital, profits and other lawful assets abroad after meeting their financial obligations.

• The banking framework was updated by amendments to the Law on Credit Institutions effective 15 October 2025.

Who handles this in VietnamPayments and currencyBanking and capital

Product quality rules were revised from 1 January 2026, introducing risk-based quality management. Customs duties, free trade agreement benefits and import licensing were not confirmed from official sources.

Key facts

• The amended Law on Quality of Products and Goods applies risk-based quality management from 1 January 2026.

Who handles this in VietnamCustoms, trade and export controls

Vietnam's first Law on Personal Data Protection has applied since 1 January 2026. Fines can be revenue-based, including up to 5% of the previous year's revenue for breaches of cross-border transfer rules. Implementing decrees and cybersecurity and data localisation rules still need checking.

Key facts

• The Law on Personal Data Protection has applied since 1 January 2026.

• Buying or selling personal data can be fined up to 10 times the resulting revenue.

• Breaches of cross-border transfer rules can be fined up to 5% of prior-year revenue.

Who handles this in VietnamData protection and cyber

This topic was written by AI from general knowledge and is being checked against official sources. Confirm anything you plan to rely on with a qualified local professional.

The Law on Intellectual Property of 2005, as amended, governs IP rights. The Intellectual Property Office of Viet Nam registers inventions, trade marks, industrial designs and geographical indications on a first-to-file basis, while copyright arises automatically. Vietnam is a party to the Paris Convention, the PCT and the Madrid system, and rights can be enforced through administrative, civil, criminal and customs routes.

Key facts

• The Intellectual Property Office of Viet Nam registers industrial property, on a first-to-file basis for trade marks.

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• Trade marks last ten years renewable, invention patents 20 years and industrial designs up to 15 years.

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• Vietnam is in the Paris Convention, PCT, Madrid system and Berne Convention.

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• Copyright arises automatically, with optional registration.

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• Enforcement can be administrative, civil, criminal or at the border.

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Who handles this in VietnamTrade marks, patents and brands

Foreign acquisitions must meet market access conditions and, in defined cases, be registered before the change of shareholders, including where foreign ownership would exceed 50%. Merger control and insolvency rules still need confirmation.

Key facts

• Registration is needed before closing if a deal takes foreign ownership above 50%, increases foreign ownership in a conditional sector, or involves land in sensitive border or island areas.

Who handles this in VietnamBuying, selling and investingSetting up and running a company

Vietnam tightened its anti-money laundering framework in July 2026 with temporary measures on beneficial ownership and customer due diligence. Reporting entities now apply a 25% beneficial ownership test for corporate customers, and the State Bank can request the information.

Key facts

• Temporary AML measures under Resolution No. 66.23/2026/NQ-CP apply from 24 July 2026 until February 2027 or new laws take effect.

• Banks and other reporting entities treat 25% holders or controllers of corporate customers as beneficial owners.

• The State Bank and law enforcement can request beneficial ownership information.

Who handles this in VietnamAnti-bribery, sanctions and compliance

The Law on Investment allows disputes between investors, where at least one is foreign, to go to foreign or international arbitration. Disputes with state agencies and between domestic investors and foreign-invested companies default to Vietnamese courts or arbitration. Arbitration law, New York Convention status and enforcement practice still need confirmation.

Key facts

• Where at least one party is a foreign investor, disputes may go to foreign or international arbitration.

• Disputes with state agencies go to Vietnamese courts or arbitration unless a contract or treaty provides otherwise.

• A foreign-invested Vietnamese company counts as domestic for forum purposes, so its disputes with domestic investors stay in Vietnamese courts or arbitration.

Who handles this in VietnamDisputes and arbitrationContracts and commercial law