16/07/2026
Update on Vietnam Investment Procedures:
The New 'ERC-First' Fast-Track Route: A Simple Guide to Starting a Foreign-Invested Business in Vietnam (2026 Regulations)
⚖️✍️ UPDATE: Vietnam’s New "ERC-First" Procedure Rule Is Live.
Here Is What It Actually Means For You.
If you are a foreign investor looking to set up a business in Da Nang or anywhere else in Vietnam, the game completely changed on March 1, 2026.
For years, Vietnam forced foreign investors into a strict, slow sequence: you had to get your investment project approved first (the IRC), and only then could you officially register your company name and entity (the ERC).
The Law on Investment No. 143/2025/QH15 and the freshly rolled-out Decree No. 96/2026/ND-CP have finally flipped the script. You can now legally open your company first and lock down the project details later.
👉 Let's break down exactly what this means, why it matters, and how to execute it without hitting a wall.
✅ The Foreign Investor's Inside Thoughts: Pros & Cons.
Before you jump in, you need to understand that this new route is a powerful tool, but it is not a free pass. Let’s look at the real trade-offs:
🟢 The Pros (Why Investors Love It)
* Lightning-Fast Presence: You get a real, legal Vietnamese company entity in just 3 to 5 business days.
* Real Corporate Power: Instead of signing office leases or hiring local talent under your personal name (which is a massive legal headache), your brand-new Vietnamese company does it directly.
* Parallel Tracking: You can set up your base, run local market research, and build out partnerships while your team refines the core project details in the background.
🔴 The Cons (The Risks You Must Watch)
* The 12-Month Clock: By law, you must successfully register and secure your Investment Registration Certificate (IRC) within 12 months of getting your company license. Recommended to get it done in 3 months.
* The "No-Revenue" Phase: Until that IRC is officially in your hands, your company is legally "pre-operational". You cannot start commercial operations, launch the project, or earn revenue.
* The Banking Catch: Under current banking rules, most commercial banks will not let you open a Direct Investment Capital Account (DICA) until they see an IRC. Because the Law on Enterprises still requires capital to be injected within 90 days of getting your company license, you have to manage this tight window incredibly carefully with your legal team.
🗺️ Step-by-Step Guide: The "ERC-First" Route.
If your business is in a standard, open service or trading sector (like software development, IT, management consulting, or import/export), this is your roadmap:
[Step 1: Company ERC] ──(3-5 Days)──> [Step 2: Setup Base] ──(Within 12 Months)──> [Step 3: Project IRC].
1️⃣. Step 1: Secure the Enterprise Registration Certificate (ERC)
* What happens: We file your company setup paperwork with the local Department of Planning and Investment (DPI). You submit a formal statement committing that your business meets Vietnam’s foreign market-access conditions.
* Timeframe: 3 to 5 working days.
* Result: You get your corporate license, tax code, and official company seal. Your legal entity is officially born!
2️⃣. Step 2: Set Up Your Base & Parallel Prep
* What happens: Your new company signs its official office or commercial space lease. You open your local operational bank accounts, begin hiring, and immediately start drafting the formal project dossier.
3️⃣. Step 3: Secure the Investment Registration Certificate (IRC)
* What happens: We submit your full, detailed investment project proposal to the investment authority.
* Timeframe: Must be completed within 12 months of Step 1.
* Result: Once the IRC is issued, your project is officially approved, your DICA banking account opens up, capital is injected, and your business goes fully live!
🤝 Let’s Get to Work:
The "ERC-First" path is incredibly fast, but the post-inspection compliance environment in 2026 is tight. Navigating the 90-day capital deadline while your IRC is pending requires precise timing and strong local banking relationships.
We specialize in guiding foreign investors through every step of this new regulatory framework. From pre-screening your business lines to structuring your bank accounts and securing both certificates, we handle the heavy lifting.
⚖️ As your dedicated Legal Assistant, we are right here on the ground in Da Nang to ensure your files move seamlessly through the local DPI. More detailed procedures in comments.
