Business
A 2005 Commercial Enterprise Law with online registration
The Law on Commercial Enterprises 2005 governs company forms, and registration is handled through the Ministry of Commerce's online business registration platform, which since 2020 has consolidated tax, labour and commerce filings. Most sectors permit 100% foreign ownership, with land-holding the principal exception.
Governing law
- Law on Commercial Enterprises, 2005 — Company forms and governance.
- Law on Investment, 2021 — Replaced the 1994 investment law; QIP incentives.
In practice
Private limited companies need at least one director and one shareholder; minimum capital is nominal. Registration is through the online Business Registration platform integrating MoC, GDT and MLVT. 100% foreign ownership is permitted except where land ownership is required. Qualified Investment Project status under the Investment Law confers tax incentives. The consolidated online platform genuinely shortened incorporation, but sector licences remain separate and are often the critical path. The 2021 Law on Investment replaced the 1994 regime — check which applies to an existing QIP.