{"id":11985,"date":"2026-08-10T15:00:41","date_gmt":"2026-08-10T08:00:41","guid":{"rendered":"https:\/\/dreamplex.co\/?post_type=blog&p=11985"},"modified":"2026-08-11T14:24:53","modified_gmt":"2026-08-11T07:24:53","slug":"opening-a-business-hcmc-2026","status":"publish","type":"blog","link":"https:\/\/dreamplex.co\/en\/opening-a-business-hcmc-2026\/","title":{"rendered":"Opening a Business in HCMC 2026: The New Investment Law Has Changed the Sequence"},"content":{"rendered":"
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Opening a Business in HCMC 2026: The New Investment Law Has Changed the Sequence<\/h1>\r\n[\/vc_column_text][vc_column_text css=””]\r\n

Opening a business in HCMC<\/strong> 2026 has changed. Investment Law 143\/2025\/QH15 took effect on 1 March 2026, with Decree 96\/2026\/N\u0110-CP following on 31 March. Together they give foreign investors a choice of sequence: obtain the IRC first and then form the company, or form the company first and complete the IRC within twelve months. For businesses needing a legal entity quickly, the second route saves significant time. A verifiable registered address remains mandatory from the moment the application is filed.<\/p>\r\n[\/vc_column_text][vc_single_image image=”12048″ alignment=”center” css=””][vc_column_text css=””]For close to a decade, foreign investors entering Vietnam followed one fixed sequence. Secure the Investment Registration Certificate first. Form the legal entity second. There was no alternative route.\r\n\r\nSince 31 March 2026, that is no longer the only path.\r\n\r\nInvestment Law 143\/2025\/QH15 took effect on 1 March 2026. Decree 96\/2026\/N\u0110-CP, which implements it, took effect on 31 March. Together they allow foreign investors to establish an economic organisation before completing IRC procedures \u2014 provided the business meets market access conditions and finalises the IRC within twelve months.\r\n\r\nThis matters practically for anyone opening a business in HCMC this year. What follows covers the new legal framework, the entity options available, the real process and timeline, and the registered address decision that many companies handle in the wrong order.[\/vc_column_text][vc_column_text css=””]\r\n

The 2026 Context<\/strong><\/h2>\r\nThree developments converged this year, and all three affect market entry decisions.\r\n

FDI policy has shifted direction<\/strong><\/h3>\r\nOn 8 June 2026, the Politburo issued Resolution 10-NQ\/TW on developing the foreign-invested economic sector. It moves Vietnam’s FDI strategy from broad attraction toward selective engagement, prioritising high-value sectors: semiconductors, artificial intelligence, biotechnology, green industry, modern logistics and financial services.\r\n\r\nThe target for 2026 to 2030 is USD 200 to 300 billion in registered capital \u2014 roughly USD 40 to 50 billion annually.\r\n\r\nCompanies operating in priority sectors face a more favourable policy environment than at any point previously. Companies outside those sectors should expect closer scrutiny of their applications.\r\n

Ho Chi Minh City’s administrative structure changed<\/strong><\/h3>\r\nOn 1 July 2025, Ho Chi Minh City merged with the entire provinces of B\u00ecnh D\u01b0\u01a1ng and B\u00e0 R\u1ecba \u2013 V\u0169ng T\u00e0u. The district tier of government was abolished, and the city moved to a two-tier structure running from city directly to ward.\r\n\r\nThe former District 1 is now four wards: S\u00e0i G\u00f2n, T\u00e2n \u0110\u1ecbnh, B\u1ebfn Th\u00e0nh and C\u1ea7u \u00d4ng L\u00e3nh.\r\n\r\nThis matters for company registration filings. Any application submitted now must use the current administrative naming. An application listing “District 1” will require correction.\r\n

The office market favors tenants<\/strong><\/h3>\r\nSavills recorded HCMC office occupancy at 88% in Q1 2026, with rents stable. CBRE reported Grade A vacancy at 16.7% in Q2 2026.\r\n\r\nFDI companies accounted for 82% of total leased office space in Q1 2026. Supply remains ample, and lease terms are more flexible than they were in 2023.[\/vc_column_text][vc_column_text css=””]\r\n

The Biggest Change: Forming a Company Before the IRC<\/strong><\/h2>\r\nThis is the most significant development in the new framework, and the part most existing guides have not yet updated.\r\n

The old sequence and the new one<\/strong><\/h3>\r\nUnder the previous rules, a foreign investor had to hold an IRC before an Enterprise Registration Certificate could be issued. The process was strictly sequential, and everything else waited on it.\r\n\r\nFrom 31 March 2026, Article 72 of Decree 96\/2026\/N\u0110-CP permits an alternative. An investor can file the enterprise registration application first, including a market access commitment in the application itself. The company is established, becomes a legal entity, and receives its enterprise code.\r\n\r\nThe IRC must then be completed within twelve months.\r\n\r\nThe constraints that come with it<\/strong>\r\n\r\nThis is not a removal of the IRC requirement. Three points matter:\r\n\r\nThe project cannot begin before the IRC is issued<\/strong>. The company exists, but cannot implement a project subject to IRC requirements until that certificate is obtained.\r\n\r\nThe twelve-month deadline is binding.<\/strong> Failing to complete the IRC within the period creates legal exposure for the entity already formed.\r\n\r\nCharter capital need not equal total investment capital.<\/strong> A technical point, but an important one when designing the capital structure.\r\n\r\nOn 29 April 2026, the Ministry of Finance issued Official Letter 5427\/BTC-DNTN providing further guidance on establishing economic organisations under the new framework.[\/vc_column_text][vc_empty_space height=”2rem” el_class=”hide-mobile”][vc_row_inner equal_height=”yes” content_placement=”middle” el_class=”blog-banner”][vc_column_inner el_class=”t-order-2″ width=”1\/2″ css=”.vc_custom_1785225589296{padding-top: 4rem !important;padding-right: 4rem !important;padding-bottom: 4rem !important;padding-left: 4rem !important;background-color: #d83636 !important;}”][vc_column_text css=””]\r\n

Explore a wide range of options for a suitable physical workspace and a legally registered business address at Dreamplex!<\/strong><\/span><\/h2>\r\n[\/vc_column_text][vc_btn title=”Talk to us” style=”outline-custom” outline_custom_color=”#ffffff” outline_custom_hover_background=”#ffffff” outline_custom_hover_text=”#d83636″ align=”left” i_align=”right” i_icon_fontawesome=”fas fa-long-arrow-alt-right” css=”” add_icon=”true” el_class=”bt bt-outline hs-cta-trigger-button hs-cta-trigger-button-262816983790″][\/vc_column_inner][vc_column_inner el_class=”t-order-1″ width=”1\/2″ css=”.vc_custom_1786423830419{background-image: url(https:\/\/dreamplex.co\/wp-content\/uploads\/2026\/08\/NQH-Stu-1-jpg.webp?id=13115) !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}”][vc_empty_space height=”20 rem”][vc_empty_space height=”20 rem” el_class=”hide-mobile”][\/vc_column_inner][\/vc_row_inner][vc_empty_space height=”2rem” el_class=”hide-mobile”][vc_column_text css=””]\r\n

Which sequence suits which company<\/strong><\/h3>\r\n

Situation<\/strong><\/p><\/div><\/div><\/td>

Recommended sequence<\/strong><\/p><\/div><\/div><\/td><\/tr>

Need a legal entity quickly to hire or open accounts<\/p><\/div><\/div><\/td>

ERC first, IRC after<\/p><\/div><\/div><\/td><\/tr>

Complex project requiring careful investment appraisal<\/p><\/div><\/div><\/td>

IRC first, ERC after<\/p><\/div><\/div><\/td><\/tr>

Sector with clear market access conditions<\/p><\/div><\/div><\/td>

ERC first, IRC after<\/p><\/div><\/div><\/td><\/tr>

Restricted sector or one requiring in-principle approval<\/p><\/div><\/div><\/td>

IRC first, ERC after<\/p><\/div><\/div><\/td><\/tr>

Project must launch immediately on licensing<\/p><\/div><\/div><\/td>

IRC first, ERC after<\/p><\/div><\/div><\/td><\/tr><\/tbody><\/table><\/div><\/div>\n\r\n\r\nFor most service, consulting and technology businesses in unrestricted sectors, the ERC-first route meaningfully shortens the time to holding a legal entity.[\/vc_column_text][vc_column_text css=””]\r\n

Three Entity Options When Opening a Business in HCMC<\/strong><\/h2>\r\nBefore considering procedure, the entity type has to be settled. This decision shapes everything downstream.\r\n

Representative office<\/strong><\/h3>\r\nThe fastest and simplest option \u2014 and the most limited.\r\n\r\nA representative office functions as a liaison point: market research, promoting the parent company’s services, connecting with partners. Setup typically takes six to eight weeks. No minimum capital is required. The licence is valid for five years.\r\n\r\nThe restrictions are firm. A representative office cannot sign commercial contracts, generate revenue, or issue invoices. Under Commercial Law 36\/2005\/QH11, crossing these boundaries risks classification as a permanent establishment \u2014 which brings 20% corporate income tax liability and potential retroactive assessment.\r\n\r\nThe parent company must have operated for at least one year in its home jurisdiction, per Article 7.1 of Decree 07\/2016\/N\u0110-CP.\r\n\r\nSuits: companies testing the market over twelve to twenty-four months before committing capital.\r\n

Foreign-invested company<\/strong><\/h3>\r\nThe standard option for businesses intending to trade.\r\n\r\nThe company can sign contracts, generate revenue, hire staff and issue invoices. Most service, technology and consulting sectors permit 100% foreign ownership. Charter capital for service companies typically runs USD 10,000 to 50,000 \u2014 there is no statutory minimum for most sectors, but the figure should reflect genuine operational requirements.\r\n\r\nSuits: companies that have decided to enter and need full commercial operations.\r\n

Capital contribution or share acquisition<\/strong><\/h3>\r\nThe third route, and one most guides omit.\r\n\r\nRather than forming a new entity, the investor contributes capital to or acquires shares in an existing Vietnamese company. Registration of the capital contribution transaction applies under Article 21.3 of Investment Law 2025.\r\n\r\nSuits: companies wanting rapid market entry through an entity that already holds licenses, customers and a team.[\/vc_column_text][vc_single_image image=”11991″ img_size=”1920×1080″ alignment=”center” css=””][vc_column_text css=””]\r\n

Process and Realistic Timeline<\/strong><\/h2>\r\nFrom decision to legal operation typically takes 45 to 90 days, depending on sequence and sector.\r\n

The main steps<\/strong><\/h3>\r\n

Step<\/strong><\/p><\/div><\/div><\/td>

Estimated duration<\/strong><\/p><\/div><\/div><\/td><\/tr>

Preparing and legalising parent company documents<\/p><\/div><\/div><\/td>

4 – 6 weeks<\/p><\/div><\/div><\/td><\/tr>

Confirming registered business address<\/p><\/div><\/div><\/td>

1 – 3 days<\/p><\/div><\/div><\/td><\/tr>

Enterprise Registration Certificate (ERC)<\/p><\/div><\/div><\/td>

3 – 5 working days<\/p><\/div><\/div><\/td><\/tr>

Investment Registration Certificate (IRC)<\/p><\/div><\/div><\/td>

15 – 30 days<\/p><\/div><\/div><\/td><\/tr>

Company seal, bank account, tax registration<\/p><\/div><\/div><\/td>

7 – 10 working days<\/p><\/div><\/div><\/td><\/tr>

Direct investment capital account<\/p><\/div><\/div><\/td>

5 – 10 working days<\/p><\/div><\/div><\/td><\/tr><\/tbody><\/table><\/div><\/div>\n\r\n\r\nDocument preparation is the longest stage \u2014 and the one the company fully controls. Materials require notarisation, consular legalisation, and certified Vietnamese translation.\r\n\r\nParent company documents required<\/strong>\r\n