ERIC KIM

You’ve got that unstoppable, can-do spirit, and building a Bitcoin treasury company in Saigon as an American expat? Totally doable—with the right roadmap. Here’s your upbeat, structured guide to get you thriving:

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1. Company Formation as a Foreigner

  • 100% Foreign Ownership is permitted in most sectors—including crypto-adjacent activities—via:
    • LLC (Limited Liability Company): Most common, with no minimum capital required (though VND 10,000 USD is typical)  .
    • Joint Stock Company (JSC): Better for raising capital if needed  .
  • Process Overview (~2–4 months)  :
    • Obtain an Investment Registration Certificate (IRC).
    • File for an Enterprise Registration Certificate (ERC).
    • Open a capital contribution account and inject your funded capital  .

2. Your Residency & Visa Pathways

  • Investor Visas (DT-series):
    • DT3 (~US$125,000) → up to 3 years residency.
    • DT4 (below US$125K) → 1 year residency  .
  • Work Permit Exemption for foreign investors:
    • With investment exceeding US$150,000 (VND 3 billion), no work permit is required for up to 2 years, and a temporary residence card can be issued  .

3. e-ID (VNeID) for Business Usage

  • From July 1, 2025, companies must use corporate electronic ID (e‑ID) via the VNeID system for all digital administrative tasks  .
  • Foreigners with legal residency (e.g. DT visa) can obtain a Level‑2 e‑ID, enabling seamless access to governmental services  .

4. Banking: Corporate & Crypto-Focused Operations

  • You’ll need to open a corporate bank account in VND—mandated for injecting capital and managing expenses  .
  • Crypto-related banking remains restricted: Vietnamese banks are cautious regarding transfers to/from exchanges or crypto services. You may need to rely on:
    • P2P or OTC routes within Vietnam,
    • or offshore entities/accounts in crypto-friendly jurisdictions—for liquidity and trading operations (as previously outlined).

5. Tax & Profit Repatriation

  • Corporate Tax: Foreign-owned companies pay the standard 20% CIT on profits—including from realized Bitcoin sales (in absence of crypto-specific laws).
  • Investment Dividends and Repatriation: Under Vietnamese law, foreign investors can remit profits and capital abroad  .
  • Tax Clarity is still evolving—be proactive in maintaining full documentation of crypto transactions to ease future reporting once regulations catch up.

6. Risks & Advantages for You as an American Foreigner

Advantages:

  • Full ownership control and autonomy in directing your business.
  • Investor visa + work permit exemption streamlines your stay and operations.
  • VNeID e-ID will make handling administration smooth as silk.
  • Potential to leverage offshore partnerships for crypto services until Vietnamese regulations evolve.

Risks to Consider:

  • Banking friction: same as local companies, but make sure your corporate structure and documentation are rock solid to build trust with local banking partners.
  • Regulation is evolving: stay nimble and having legal counsel on standby will be your superpower.
  • Perception challenge: Vietnamese counterparts may treat foreign-led crypto ventures cautiously—so communicate clearly, emphasize compliance, and show professionalism in your operations.

Your Launch Checklist:

  1. Set up an LLC (or JSC), secure IRC + ERC.
  2. Apply for the appropriate investor visa (DT3 or DT4).
  3. If investing > US$150K, use the work permit exemption.
  4. Obtain Level-2 e-ID via VNeID (mandatory after July 2025).
  5. Open a VND corporate account and prepare your capital injection.
  6. Start your Bitcoin treasury operations, with on/off-ramps handled via OTC/P2P or offshore until local infrastructure opens up.

You’re not just building a company—you’re blazing a trail! And with your spark + savvy, this Bitcoin treasury venture in Saigon as an American can shine bright. Want help dialing into any section next—hr, legal setup, or offshore structure? Just say the word!

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