Non-life insurance
Bảo hiểm phi nhân thọ
This activity covers the provision of non-life insurance services, which protect against financial loss from various risks.
Includes
- Property insurance
- Liability insurance
- Health insurance
- Motor vehicle insurance
Excludes
- Life insurance services
- Reinsurance services
Foreign ownership
Foreign investment is permitted, often up to 100%, but this is a conditional business line: it requires a sector sub-licence or regulatory approval on top of the IRC and ERC. Some conditional lines require a Vietnamese joint-venture partner.
Legal basis: Negative list D17 · Law on Investment 2020, Appendix IV (conditional business line)
Your exact activity may fall inside or outside this restriction. Confirm the classification with Emerhub before you rely on it.
Recommended route
Foreign-owned LLC or JSC
Often up to 100%, once the sector sub-licence is granted
Joint venture
Where the conditional line requires a Vietnamese partner
Registration path
- 1
IRC
Investment Registration Certificate from the DPI
- 2
ERC
Enterprise Registration Certificate (the company itself)
- 3
Post-licensing
Seal, corporate bank account, tax and e-invoicing
- 4
Sub-licence
Sector permit, if the activity is conditional
Emerhub files each step with the authorities; you provide the documents and information.
Charter capital
| Situation | VND | USD |
|---|---|---|
| Most business linesVietnam sets no statutory minimum charter capital for most sectors. The registered charter capital must be credible for the project and fully contributed within 90 days of the Enterprise Registration Certificate. Foreign-invested projects are assessed on capital adequacy at the Investment Registration Certificate stage.. Legal basis: Law on Enterprises 2020 (No. 59/2020/QH14), Art. 47, 75, 113; Law on Investment 2020. | No floor | No floor |
Bold is the figure the law sets; the other column is an approximate conversion at ₫25,400 to USD 1. Vietnam sets no general minimum for most sectors.
Licenses & permits
This is a conditional business line. Alongside the IRC and ERC, it needs the following sector sub-licence or regulatory approval before it can legally operate in Vietnam.
- Sector sub-licence
Non-life insurance: up to 100% foreign ownership; foreign non-life insurers may also open branches.
Up to 100% foreign ownership of charter capital permitted since the Insurance Business Law 2022 (effective 2023); non-life foreign insurers may also establish branches in Vietnam since 1 July 2011, consistent with Vietnam's WTO GATS commitment. Legal basis: Law on Insurance Business 2022 (No. 08/2022/QH15).
- Sector sub-licence
Insurance business (non-life class available in candidates; excludes auxiliary services; life/reinsurance codes not present).
Conditional business line under the Law on Investment: foreign investment is generally permitted (often up to 100%) but the activity requires a sector sub-licence or regulatory approval. Legal basis: Law on Investment 2020, Appendix IV (as amended, effective 1 Jul 2026).
Emerhub can obtain the sub-licence as part of your company setup.