How to set up a foreign-owned company in Vietnam: IRC to ERC
The two licences, the capital account, the timeline and the costs — a practical walkthrough for foreign investors.
Most foreign investors enter Vietnam through a 100%-foreign-owned limited liability company. The process is well defined, but it runs through two separate licences and a dedicated bank account. Here is how it works in practice.
The two licences: IRC and ERC
Every foreign-invested company is built on two certificates. The Investment Registration Certificate (IRC) approves the investment project itself — the business lines, location, capital and investor. The Enterprise Registration Certificate (ERC) then establishes the company as a legal entity and issues its tax code. The IRC comes first; the ERC follows once the project is approved.
What you need before you start
You will need a registered address with a lease or pre-lease agreement, proof that you have sufficient capital for the project, and corporate or personal documents from your home country that have been notarised and consular-legalised. Getting these documents right is the most common cause of delay, so prepare them early.
Capital, timeline and cost
Foreign capital is contributed through a Direct Investment Capital Account (DICA) at a licensed bank, usually within 90 days of establishment. Vietnam sets no fixed minimum for most sectors, but the registered capital must be credible for the scale of the project. In practice the full IRC-to-ERC process takes around two to four months, and professional fees typically range from USD 2,000 to 15,000.
Planning a company in Đà Nẵng – Quảng Nam? CRP handles the IRC and ERC process end to end. Book a consultation and we will map the documents, capital and timeline for your project.
Start with a consultation — understand the market before you decide.
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