Ho Chi Minh City, 11 July 2025
On 8 July 2025, the team at Indochine Counsel participated in the Inter-Ministerial Dialogue on VNeID implementation, hosted by the Vietnam Business Forum (VBF) in collaboration with the Ministry of Finance (MOF), chaired by a senior leader from the Foreign Investment Agency (MOF).
This hybrid-format event gathered representatives from major government authorities to discuss VNeID registration requirements and compliance challenges for enterprises, especially those with foreign legal representatives.
Following the meeting, our Associate | Head of Investment & Corporate Services – Ms. Nguyen Thi Thanh Truc highlighted some key notes regarding VNeID registration for enterprises with foreign legal representatives:
VNeID Registration Rollout Prioritized for Foreign Legal Representatives
A representative of the Ministry of Public Security (MPS) confirmed that authorities are prioritizing the issuance of Level-2 VNeIDs to:
- Foreigners holding a valid Temporary Residence Card (TRC) or Permanent Residence Card (PRC)
- Individuals who are the legal representatives of enterprises in Vietnam
This is intended to help companies obtain a corporate VNeID account as soon as possible. Once this phase is complete, Level-2 VNeIDs will also be issued to other eligible foreigners residing in Vietnam.
Tip: If your company’s legal representative does not yet hold a TRC or PRC, consider starting the application process early to avoid delays.
Interim Solutions Recognized by Authorities
While the Level-2 VNeID rollout is underway, several key agencies confirmed that companies can continue using existing electronic accounts to submit reports and applications, including:
- Tax Authority
- Ministry of Finance
- State Bank of Vietnam
- Ministry of Home Affairs
- Customs Authority
- Social Insurance Authority
This transitional arrangement will remain in place until enterprises are issued their Level-2 VNeID accounts in accordance with the MPS rollout schedule.
Will Decree 69/2024/ND-CP Cover More Foreign Individuals?
At this time, it is unclear whether Decree 69/2024/ND-CP will expand to include other foreign individuals, such as those holding long-term visas but not TRCs or PRCs.
However, a representative from the Ministry of Public Security noted during the seminar that this possibility is under review for future updates.
Long-Term Compliance Considerations
If your company cannot currently obtain a corporate VNeID because your foreign legal representative lacks Level-2 credentials, you may need to consider:
- Applying for a Temporary Residence Card (TRC) or Permanent Residence Card (PRC)
- Preparing supporting documentation for VNeID registration once eligible
Proactive planning will help your business avoid compliance disruptions as VNeID requirements evolve.
How We Can Help
At Indochine Counsel, our legal experts are committed to closely monitoring regulatory developments around VNeID in Vietnam while providing tailored advice on Decree 69/2024/ND-CP compliance and supporting foreign-invested companies in VNeID readiness assessments and applications.
If you would like to explore practical steps or review your company’s VNeID obligations, contact our team today:
Email: info@indochinecounsel.com
Phone: +84 28 3823 9640
