Ownership limits by sector
Vietnam's foreign ownership rules are not a single national cap — they are set sector by sector, referenced against a CPC (Central Product Classification) code for the specific service or activity. Manufacturing, most professional services, and IT are generally unconditional. Distribution, logistics, education, and media carry conditions ranging from a joint-venture requirement to a hard ownership ceiling.
Approved forms of investment
A foreign investor can enter through a wholly foreign-owned entity, a joint venture with a Vietnamese partner, a representative office (non-trading), or increasingly, acquisition of an existing Vietnamese company. Each path carries a different capital commitment and a different approval timeline — see market entry strategy for how we compare them for a specific business plan.
The approval sequence
Conditional-sector projects typically route through an in-principle investment policy approval before the IRC stage; unconditional-sector projects go directly to IRC. Both then proceed to ERC issuance, followed by any sub-licenses the specific business line requires — covered in business licensing.
Quick facts
Governing law: Law on Investment 2020, Law on Enterprises 2020, WTO Schedule of Commitments
Typical IRC timeline: 20-25 working days (unconditional sectors)
Typical ERC timeline: 5-7 working days after IRC issuance
Minimum capital: No general statutory minimum; assessed by project scale
Not sure which sector your business falls under?
We map your business lines to CPC codes and the applicable ownership rule before you commit capital.
Request an assessmentCommon questions from foreign investors
Can foreigners own 100% of a company in Vietnam?
In most services and manufacturing sectors, yes — Vietnam allows 100% foreign ownership under its WTO commitments. A shortlist of sectors (media, certain logistics segments, some agriculture) carries caps or requires a local joint-venture partner, so the answer depends on the specific business line, identified by its CPC code, not the entity type.
What is the difference between an IRC and an ERC?
The Investment Registration Certificate (IRC) approves the investment project itself — capital, scope, location. The Enterprise Registration Certificate (ERC) then registers the company as a legal entity. A foreign-invested company generally needs both, obtained in that order, before it can operate.
Do foreign investors need a local partner in Vietnam?
Only in sectors where Vietnam's WTO schedule caps foreign ownership below 100%. Outside those sectors, a wholly foreign-owned LLC or joint-stock company is the norm, and no local shareholder is legally required.
How long does foreign investment registration take?
A straightforward IRC application in an unconditional sector typically takes around 20-25 working days, followed by ERC issuance in about 5-7 working days. Conditional sectors, capital contribution reviews, or incomplete documentation can extend this meaningfully — we build the realistic timeline into the entry assessment before filing.