Foreign Ownership Limits in Vietnam

Foreign investors can own 100% of companies in many Vietnamese sectors, but caps apply in others. Knowing the limit for your sector is essential to structuring an investment.

The default: often 100%

For business lines outside the restricted market-access list, foreign investors are generally treated like domestic ones and may own up to 100%. Manufacturing, most trading and many service sectors fall here.

Sectors with caps

Certain sensitive sectors limit foreign ownership — for example banking, telecommunications, advertising, logistics and some transport services. Caps derive from Vietnam's WTO commitments, free-trade agreements and domestic law, and may require a Vietnamese joint-venture partner up to a threshold.

Public companies and special regimes

Listed and public companies have their own foreign-ownership framework under securities law, which can differ from the general investment rules. Always confirm the specific cap for the exact business line and entity type before committing.

Frequently asked questions

Can foreigners own 100% of a Vietnamese company?

Yes in many sectors; sensitive sectors impose caps or joint-venture requirements.

Where do the caps come from?

Mainly WTO commitments, free-trade agreements and sector-specific domestic law.

Do listed companies follow the same rules?

No. Public companies have a separate foreign-ownership regime under securities law.

How LTV Law helps

LTV Law confirms sector caps and structures ownership for foreign investors. See our M&A guide or contact our team.

This article is for general information only and does not constitute legal advice.