My husband is Korean. We are planning to go back Vietnam and to open a small business that is in my husband’s name. I wonder whether he is allowed to open a small business as a foreigner in Vietnam or not. I hope to get consultation from the editorial board on how foreigners open small business in Vietnam. Thank you very much.
Credit: Thong Nguyen – Flickr
According to Article 67 of Decree 78/2015/NĐ-CP:
1. Every Vietnamese citizen from 18 years of age or over, has full legal and civil capacity, every household is entitled to establish business households and has the responsibility to register business households as prescribed in this Chapter.
2. Each individual and household mentioned in Clause 1 of this Article may register only one business household nationwide. The individuals mentioned in Clause 1 of this Article are entitled to contribute capital and buy shares of enterprises as individuals.
3. Individuals who establish and contribute capital to a business household must not concurrently hold the position of owner of a private enterprise, general partner of a partnership, unless otherwise agreed by the other general partners.
Basing on the provisions mentioned above, your husband isn’t entitled to establish business because he is Korean. If he wants to invest in Vietnam, you can help him register the business household in your name instead of his name, or you can carry out certain procedures for investment and business registration in Vietnam.
Best regards