What Is the Investment Registration Certificate (IRC)?
The Investment Registration Certificate (IRC) is mandatory for foreign or joint-venture entities setting up in Vietnam. Issued by the Ministry of Planning and Investment (MPI) or provincial DPI, it verifies adherence to Vietnam’s FDI requirements and grants permission to carry out business projects.
Distinction Between IRC & ERC
| Certificate | Who It Applies To | Purpose | Issuing Authority |
|---|---|---|---|
| IRC (Investment Registration) | FIEs or entities with foreign majority | Approves foreign-invested projects | DPI (Department of Planning & Investment) |
| ERC (Enterprise Registration) | All companies (foreign/local) | Official registration for legal ops | BRC (Business Registration Office) |
Main Purposes of the IRC in Vietnam
- Ability to sponsor dependents
- Access to government support programs
- Business-friendly environment
- Authorization to trade various goods & services
- Credibility & legality
Benefits of Obtaining an IRC：
Legal Investment Status
Align with Vietnam’s regulatory framework for foreign companies
Investment Protection
Enjoy tax incentives and government subsidies
International Market Access
Leverage Vietnam’s FTAs to enter ASEAN markets easily
合法投资资格
符合越南外资企业监管要求
投资保障
享受政府提供的税收激励及行业补贴
国际市场准入
便捷进入越南与东盟的自由贸易区网络
Which Businesses Need an IRC?
- Wholly foreign-owned enterprises (100% FDI)
- Foreign ventures in restricted industries (education, finance, trade, etc.)
- Majority foreign-owned ventures (>51% foreign share)
- Large-scale projects (industrial parks, manufacturing, technology)
Vietnam IRC Application Process
1. Prepare Application Documents
● Investor’s passport/company registration
● Business plan (project outline, funding, model)
● Address proof
● Financial capacity (bank statement, financial reports)
● Sector license (for education, healthcare, import-export, etc.)
2. Submit to DPI
● File the application at the provincial Department of Planning & Investment based on your chosen location.
3. Review & Issuance of IRC
● Typically 15–30 working days, longer for specialized industries.
4. Proceed with Enterprise Registration (ERC)
● After receiving the IRC, apply for the ERC to finalize the company setup and commence operations.
Required Documents for IRC Application
When applying for the Investment Registration Certificate (IRC), enterprises must submit the following essential documents to ensure smooth approval and compliant business operations.
| Document | Details |
|---|---|
| Investment Registration Form | Filled per Vietnamese laws, stating capital, sector, address, timeframe |
| Investor’s Legal Proof | Parent firm’s registration, bank certificate (notarized & translated if needed) |
| Project Feasibility Study | Market analysis, technical plan, funding source, and environmental commitment if heavy industry |
| Land/Factory Usage Proof | Lease contract or purchase deal (notarized) if premises required |
| JV Agreement (if applicable) | Specifies rights, share ratios, management structure among partners |
Note: Certain fields (food, pharmaceuticals, education, finance, logistics) may demand extra licenses.
Key Considerations in IRC Approval
When applying for the IRC, enterprises must comply with Vietnam’s investment regulations and industry admission requirements. Below are the critical considerations for IRC approval, helping businesses enhance their success rate.
1. Industry Restrictions
● Prohibited fields: narcotics, wildlife trade…
● Conditional sectors: education, healthcare, finance, insurance—often requiring extra capital, local partners, or industry permits.
2. Investment Capital & Verification
● Registered capital must be injected into a Vietnamese bank account within 12 months of IRC issuance.
● Some industries (real estate, finance, heavy industry) enforce minimum capital thresholds.
3. Land & Environmental Compliance
● Industrial or heavy projects often require an Environmental Impact Assessment (EIA).
● If land is required, secure a legitimate lease or ownership approval from authorities.
4. Foreign Representative Requirements
● At least one legal rep residing in Vietnam; can be the foreign investor but must have a valid residence permit.
● Certain regulated sectors (banking, insurance, securities) may demand professional credentials or experience.
Why Choose Vanzbon for IRC Processing?
Local Resource Advantage
Strong ties with government bodies, investment boards, and chambers, ensuring you adapt swiftly to regional policies.
Efficient Handling, Saving Time
Streamlined procedures, thorough document checks, and effective government contact shorten approval times.
End-to-End Compliance Support, Reducing Risks
Covers legal advice, sector entry analysis, tax planning—ensuring your investment fully aligns with Vietnamese rules.
One-Stop Corporate Services
Beyond IRC, we support ERC registration, industry licensing, banking, and tax compliance—no need to coordinate multiple parties.
Tailored Solutions
Customized to your sector, investment scale, and business model, optimizing policy incentives, tax benefits, and state supports.
FAQs
Yes. Changes to project scope, registered capital, location, or business lines require a revision application at DPI.
Generally up to 50 years; infrastructure/energy projects may be granted a longer term, but periodic reports and renewals apply.
- Illegal operations: no lawful FDI status
- Fines or license revocation: breaching FDI rules
- Can’t open bank accounts or sign contracts: lacking legal identity hampers partnerships, banking, and clients
Major economic hubs (HCMC, Hanoi, Binh Duong, Dong Nai, Ba Ria–Vung Tau) often process within 15–30 days. Some provinces (Quang Ninh, Quang Ngai, Thua Thien Hue) may take longer.
Most sectors don’t enforce strict minimum capital, but certain fields (banking, insurance, real estate) do. Generally recommended at least 1–3 billion VND ($5k–15k USD), depending on industry needs.
- IRC: Approves foreign-invested projects.
- ERC: For all companies (local/FDI), legalizing their official registration.
No. Each project needs a separate IRC. A single entity can have multiple projects, each with an individual application.
Easily Obtain a Business License in Vietnam
If you plan to operate in Vietnam, let Vanzbon support you with professional assistance.
Our experienced team handles the entire licensing process and bank account setup, plus financial institution guidance. We also offer complete visa and immigration solutions, covering government formalities, work permits, and visa applications.
We manage all administrative tasks, so you can focus on running your business seamlessly.
