According to Vietnam Law on Investment and Vietnam WTO’s Commitments, it is possible to setup wholly foreign invested company operating information technology in Vietnam.
Furthermore, Vietnam Government encourages foreign investor to invest in the field of information technology (“IT”) so that we do believe we can support well businessof foreign investor.
Regarding required documents, investor will have to prepare and submit anapplication dossier to licensing authority, mainly including:
– Application files;
– Explanation on satisfaction of investment conditions and requirements;
– Explanation/report on financial capacity of Investor;
– Document related to intended location of head office of the company in Ho Chi Minh City;
– Legal documents related to the Investors.
Besides, foreign Investors are required to meet investment conditions such as nationality of Investor must belong to one of member countries of WTO; experience of Investor in field of project, location for head office of the company, financial capacity to fund the project …etc
Please be informed that investors are not required to deposit any amount as long as his project is in field of IT.However, in actual practice of licensing, investment projects having total invested capital equal or higher than 100,000 US$ shall be more favorable and easier to obtain Investment Certificate.
In actual practice, it will take Investor 30-45 (thirty to forty five) working days from duly submission, regardless the law on investment of Vietnam provide term of 30 working days.
In case the company operates in fields of software producing, it will be entitled to tax incentives: exempted for 04 first years from establishment, decreased 50% for next 9 years, and after that will be treated as companies in other fields (25% of income)
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