The 11 entry routes for foreign investors in Vietnam
Many older guides show a single line: IRC, then ERC, done. In practice a new company, a share purchase, a project purchase, a contract, a PPP and a representative office each follow a different procedure. Pick the route that matches your plan, or let the Route Finder suggest one from your facts.
New company or new project
New company (ordinary procedure)
New company, new project, no Investment Policy Approval
R2New project needing Investment Policy Approval
Project category needs government-level approval before implementation
R3Land-based project: auction, bidding, investor selection
Project uses State land and the investor is chosen through a competitive or approval process
R4Special investment procedure (zones)
Investor's option for projects in eligible zones: Investment Law 143/2025/QH15, Art. 28
Acquisitions
Share acquisition without prior approval
Acquisition of shares / capital where no prior M&A registration is triggered
R6Share acquisition with prior M&A registration
Acquisition that must be registered with the investment authority BEFORE closing
R7Acquisition of an investment project
Buying all or part of a licensed project (asset-level deal), rather than shares
Other ways in
Business Cooperation Contract (BCC)
Contract-based investment with a Vietnamese or foreign partner: no new company
R9Investing through an existing Vietnam company
An existing Vietnam company with foreign ownership invests further in Vietnam
R10Public-private partnership (PPP)
Infrastructure / public-service project under the PPP Law
Branch / ROBranch or representative office
Presence in Vietnam without a subsidiary: outside the IRC / ERC system