How long does company registration actually take in Vietnam, Indonesia and Thailand?
In Vietnam the two statutory steps are short: an Investment Registration Certificate is issued in 10 working days where the project needs no investment policy approval, and 15 working days under the expedited procedure for designated zones, followed by an Enterprise Registration Certificate in 3 working days from a valid dossier. Those are clean-dossier timelines under Decree 96/2026/ND-CP and Decree 168/2025/ND-CP. What sets your real start date is document legalisation, sector conditions and bank onboarding around them. In Indonesia the licence itself is issued through the OSS system once your investment plan and KBLI classification hold up. In Thailand incorporation at the Department of Business Development is fast, but if your activity sits in List 3 of the Foreign Business Act, the Foreign Business Licence is the long pole and BOI promotion is usually the faster route.
Can a foreign investor own 100 percent of the company?
In most sectors, yes. All three markets permit full foreign ownership outside their restricted lists: conditional business lines in Vietnam, the Positive Investment List in Indonesia, and Lists 1 to 3 of the Foreign Business Act in Thailand. Where a cap or a licensing condition applies we structure around it lawfully, through BOI promotion, treaty rights or a permitted shareholding structure. We do not arrange nominee shareholdings to disguise foreign control, because that exposes the investor to losing the asset.
What changed in Vietnam in 2026, and does it affect my timeline?
Yes, and in your favour. Under the Law on Investment No. 143/2025/QH15, in force since 1 March 2026, and its implementing Decree 96/2026/ND-CP of 31 March 2026, a foreign investor may now incorporate the company first and obtain the Investment Registration Certificate afterwards, within 12 months of establishment. Under the previous framework the IRC always came first. For investors who need a legal entity in place early, to sign a lease, hire, or open a bank account, that reorders the whole project plan.
How much capital do we actually have to put in?
It differs sharply by market. Indonesia is the one that changed most recently: since 2 October 2025, BKPM Regulation No. 5 of 2025 cut the minimum paid-up capital for a PT PMA from IDR 10 billion to IDR 2.5 billion per KBLI code, while the declared total investment plan must still exceed IDR 10 billion per KBLI per location, excluding land and buildings. The paid-up amount must then stay in the company account for 12 months. In Thailand, a restricted activity under the Foreign Business Act carries a minimum registered capital of THB 3 million per activity. In Vietnam there is no general statutory minimum for most sectors, but charter capital must be credible against your licensed scope, and conditional sectors carry their own thresholds.
Do we need a local director or legal representative?
Vietnam requires at least one legal representative resident in Vietnam. Indonesia expects a resident director for tax administration in practice. Thailand does not generally require Thai directors unless the activity is restricted or the structure depends on Thai shareholding. Where you need cover while relocating your own people, we can provide a compliant resident officer under a documented arrangement.
Which authority actually issues the licence in Vietnam now?
This is worth checking on any guide you read, because it changed twice. The Ministry of Planning and Investment was merged into the Ministry of Finance on 1 March 2025, and at provincial level the former Department of Planning and Investment functions moved to the Department of Finance. Then on 1 July 2025 Vietnam moved to a two-tier local government of 34 provinces and cities, abolishing the district level. So investment registration now runs through the provincial Department of Finance, or the management board of the industrial or economic zone where the project sits, and enterprise registration through the provincial business registration office on the National Business Registration Portal. Guides still naming the Department of Planning and Investment are describing a body that no longer exists.
What do you handle, and what do we have to produce?
You provide the shareholder corporate documents, passports, and a business plan with your intended scope. We tell you exactly which of those need notarisation, legalisation or consular certification before you spend money on it, then handle drafting, translation, filing, regulator follow-up and the post-registration steps: tax registration, e-invoicing, seal, bank account and sector licences.
