Can a foreign co-founder be listed on my Vietnam company registration, and what documents are needed?

Dear Sir./Madam,

Thank you for interesting our services.

For setting up a company in Vietnam, you can register the company with the Vietnamese partner.
To provide you with the most effective guidance on establishing a company in Vietnam, we require some further information. Please provide details on the following:

1) Nationality: Please specify your nationality.
2) Business Lines: What are the intended business activities of your company in Vietnam? A description of your business plan or a link to a similar company's website would be helpful.
3) Investor Type: Will the investment come from an individual or an enterprise?
4) Investment Capital: What is the anticipated investment capital in USD? A breakdown of projected expenses for at least two years (including location, labor, equipment, utilities, and other operational costs) would be beneficial.
5) Location of the company in Vietnam:
6) Contact Information: Please share your full name and your Zalo and/or WhatsApp contact details.

We look forward to receiving this information so we can assist you further.

Best Regards,

Dear Sir,

Regarding your question, we have the following preliminary advice:

1. Regarding ownership and naming on the enterprise registration certificate
The answer is: YES.
It is advisable to establish a limited liability company.
The foreign partner can fully be named as a capital-contributing member or founding shareholder on the Enterprise Registration Certificate and the Investment Registration Certificate, even if they do not reside in Vietnam. The Law on Enterprises and the Law on Investment do not require the capital owner to reside in Vietnam.

2. Implementation procedures
Since there is foreign participation from the beginning, the company will follow the procedure for establishing a Foreign-Invested Enterprise:
Step 1: Apply for the Investment Registration Certificate (IRC)
Step 2: Apply for the Enterprise Registration Certificate (ERC)

3. Required documents for the foreign investor
1. Passport: Provide a certified true copy (notarized copy) of the valid Passport.
2. The bank balance confirmation (Proof of finance): To prove financial capacity for the committed capital contribution on the application for the IRC. The investor must obtain a Bank Balance Confirmation from a bank in their host country (the balance must be greater than or equal to the intended capital contribution). This document MUST be Consularly Legalized.
Note: The above documents need to be notarized and translated into Vietnamese.

4. Regarding the legal representative
Since the foreign partner does not reside in Vietnam, to facilitate operations and comply with the regulation requiring at least one legal representative to reside in Vietnam, we recommend:
- The Vietnamese founder should assume the role of Legal Representative (Director/General Director).
- The foreign national will hold the role of Capital Contributing Member/Shareholder.

Finally, to proceed, please request the foreign partner to prioritize obtaining the Bank Balance Confirmation and proceeding with its Consular Legalization as soon as possible, as this process abroad usually takes the most time.

If you need a lawyer to carry out the company establishment service in Vietnam, please do not hesitate to contact us.

Best Regards.

Dear Client Name,

Regarding your inquiry about setting up a company in Ho Chi Minh City, we would like to clarify as follows:
- Ownership: Yes, a foreign co-founder can be listed as an owner on the business registration without residing in Vietnam.
- Documentation: Typically, the foreigner's passport must be notarized and consularly legalized at a Vietnamese Embassy/Consulate abroad to be valid for use in Vietnam.
To provide a detailed consultation, please let us know:
- Your intended business activities.
- The nationality of the foreign co-founder.
- The planned charter capital.
For further discussion or urgent matters, please feel free to contact us via the phone numbers or messaging apps listed in my signature below.
We look forward to hearing from you.
Best regards,
LawPlus Team
Address: No. 47, Street No.10 (Sala), An Khanh Ward, HCMC, Vietnam

Yes, a foreign co-founder can be legally listed as an owner/shareholder on the company registration in Vietnam, even if they do not reside in Vietnam.
Under Vietnamese law, a company may have both Vietnamese and foreign investors as founders. However, the involvement of a foreign co-founder means that the company will be treated as a foreign-invested enterprise, and the establishment process must follow the foreign investment regulations, not the simplified domestic procedure.
Key legal points to note:
1. Eligibility of the foreign co-founder
A foreign individual is fully allowed to hold ownership interests in a Vietnamese company, provided that: The intended business lines are open to foreign investment under Vietnam's WTO commitments and domestic law. Any applicable foreign ownership caps or conditions are complied with (if the sector is conditional).
2. Required documentation (typical)
For the foreign co-founder, the following documents are usually required:
- A valid passport (notarized and consular legalized if issued overseas, unless exempt under applicable treaties);
- Information on the capital contribution and ownership ratio;
- Power of Attorney (if authorizing a local firm to handle procedures);
- Additional documents may be required depending on the business sector and licensing authority’s practice.
The Vietnamese founder will typically need:
- Vietnamese ID/CCCD or passport;
- Basic corporate information and capital contribution details.
Licensing procedure
In most cases, the process involves:
- Applying for an Investment Registration Certificate (IRC); and
- Subsequently obtaining the Enterprise Registration Certificate (ERC).
The foreign co-founder does not need to be physically present in Vietnam during the process if properly represented.
How La Défense Law Firm can assist
At La Défense, we regularly advise and act for foreign-invested companies and mixed-ownership structures in Vietnam. We can:
- Assess investment eligibility and foreign ownership conditions;
- Advise on the optimal company structure;
- Prepare and review all required documents;
- Handle consular legalization, notarization, and filings;
- Represent clients before Vietnamese authorities until licenses are issued.
If you would like tailored advice based on your specific business sector or capital structure, we would be pleased to assist.