Article 22 of the Investment Law 2020 regulates investment in establishing economic organizations in Vietnam as follows:

“Investment in establishing economic organizations

1. Investors establish economic organizations according to the following regulations:

a) Domestic investors establish economic organizations according to the provisions of law on enterprises and laws corresponding to each type of economic organization;

b) Foreign investors establishing economic organizations must meet the market access conditions for foreign investors specified in Article 9 of this Law;

c) Before establishing an economic organization, foreign investors must have an investment project and carry out procedures for granting and adjusting the Investment Registration Certificate, except in the case of establishing small and medium-sized enterprises. creative enterprises and creative start-up investment funds according to the provisions of law on supporting small and medium-sized enterprises.

2. From the date of issuance of the Business Registration Certificate or other documents of equivalent legal value, the economic organization established by the foreign investor is the investor implementing the investment project according to regulations. specified in the Investment Registration Certificate.”

Accordingly, foreign investors will be allowed to open companies in Vietnam but must meet market access conditions for foreign investors according to regulations.

To open a company in Vietnam, foreign investors need to have an investment project and carry out procedures for granting and adjusting the Investment Registration Certificate before establishment.

And from the date of issuance of the Business Registration Certificate or other documents of equivalent legal value, the company opened by the foreign investor shall carry out the investment project according to the provisions of the Investment Registration Certificate.

According to the provisions of Clause 19, Article 3 of the Investment Law 2020, foreign investors include both foreign individuals and foreign organizations conducting business investment activities in Vietnam. Therefore, foreign individuals can open a company in Vietnam without establishing an organization.

According to the provisions of Clause 19, Article 3 of the Investment Law 2020, foreign investors include both foreign individuals and foreign organizations conducting business investment activities in Vietnam. Therefore, foreign individuals can open a company in Vietnam without establishing an organization.

At the same time, based on the provisions in Article 9 of the Investment Law 2020, there are 3 cases of market access for foreign individuals when opening a company in Vietnam as follows:

- Foreign individuals are not allowed to open companies in Vietnam for industries and professions that do not have market access;

- When a foreign individual opens a company in Vietnam operating in a business line that limits market access for foreign investors, he or she must meet the conditions in Clause 2 above.

- For the remaining business lines, foreign investors are subject to market access conditions as prescribed for domestic investors.