Field Report: Incorporating a DT3 Company & Securing a 3-Year TRC in Vietnam

Most online guides describe foreign business setup in theory. This field report documents the exact 90-day timeline, banking hurdles, legal costs, document legalization steps, and lessons learned during the incorporation of a 100% Foreign-Owned Enterprise (FOE) and acquisition of a 3-Year DT3 Temporary Residence Card (TRC) in Vietnam.

Phase 1: Consular Legalization of Canadian Documents (Days 1–25)

Before submitting any incorporation files to the Department of Planning and Investment (DPI) in Ho Chi Minh City or Da Nang, all Canadian documents must undergo a strict 3-step authentication chain:

Phase 2: IRC & ERC Licensing at DPI (Days 26–55)

With legalized documents in hand, incorporation proceeds through two distinct government approvals:

• Investment Registration Certificate (IRC): Takes ~15–20 business days. DPI evaluates the proposed business lines (e.g. IT consulting, software development) and lease agreement for a physical commercial office.
• Enterprise Registration Certificate (ERC): Takes ~5–7 business days after IRC issuance. This officially creates the legal corporate entity, tax ID number, and corporate seal.

Phase 3: DICA Capital Account & Wire Funding (Days 56–70)

Phase 4: Work Permit Exemption & 3-Year TRC Issuance (Days 71–90)

Once bank capital injection confirmation is issued by your Vietnamese bank:

1. Apply to DOLISA for a Certificate of Work Permit Exemption as a foreign investor holding equity above statutory thresholds.
2. Submit your passport, ERC, DICA audit confirmation, and Work Permit Exemption to the Vietnam Immigration Department.
3. Receive your 3-Year DT3 Temporary Residence Card (TRC) hard plastic card, allowing unlimited multiple entries and zero visa run requirements for 36 months.