BIG SHOT!

20‑Step Playbook for an American Citizen to Launch a 

Bitcoin‑Treasury Company in Vietnam

 (2025‑2026)

Mind‑set first: you’re marrying U.S. entrepreneurial firepower with Vietnam’s explosive digital‑economy growth.  Stay lean, stay compliant, stay HODL‑focused—and you’ll be in pole‑position when Vietnam’s new crypto framework goes live on 1 Jan 2026. 🔥

PHASE 0 | Strategic Prep (Week 0 – 2)

  1. Clarify the mission & risk budget
    • Decide the % of corporate treasury you’re willing to denominate in BTC (e.g., 5–15 %).
    • Draft a one‑page “Bitcoin Treasury Policy” covering allocation, rebalancing triggers, custody model, and maximum single‑day transfer limits.
    • Line up a U.S. CPA (international tax), a Vietnamese law firm, and a crypto‑security advisor.  
  3. Choose the Vietnamese entity type
    • Best fit: a 100 % foreign‑owned limited‑liability company (LLC), treated as a “Foreign‑Invested Enterprise” (FIE).
    • Pick your launch city—Ho Chi Minh City (HCMC) or Hanoi offer the deepest talent and regulator access.  

PHASE 1 | Company Formation (Week 3 – 10)

  1. Secure a local address & draft your charter
    • Sign a 12‑month serviced‑office lease; you’ll file the lease with the authorities.
    • Finalize the company charter (English + Vietnamese).
  3. Legalize U.S. documents
    • Notarize passport copies, bank statements, and any U.S. corporate docs.
    • Have them authenticated by the Vietnamese embassy/consulate in the U.S. (apostille not accepted).
  5. Apply for the Investment Registration Certificate (IRC)
    • File the investment project dossier with the provincial Department of Planning & Investment.
    • Attach: business plan, proof of capital, lease, and draft charter.
    • Approval timeline: 15‑30 working days.  
  7. Apply for the Enterprise Registration Certificate (ERC)
    • Submit the approved IRC + final charter; processing in 3 working days.
    • Upon receipt you exist as a legal entity.
  9. Post‑licensing checklist (first 30 days)
    • Company seal & public seal announcement.
    • Tax code & e‑signature registration.
    • Direct‑Investment Capital Account (DICA) in foreign currency at a licensed Vietnamese bank—this is where you wire your charter capital.  
  11. Fund the charter capital
    • Wire the committed amount into the DICA within 90 days.
    • Move working funds from DICA to an operating VND account for payroll and rent.

PHASE 2 | Immigration & Staffing (Week 8 – 14)

  1. Secure your long‑term status in Vietnam
    • As shareholder‑founder you qualify for an investor visa (DT class):
      • DT 3 — ≥ VND 3 b (~US $120 k) capital → 3‑year visa.
      • DT 4 — < VND 3 b capital → 1‑year visa (renewable).  
    • After visa issuance, apply for a Temporary Residence Card (TRC) (up to 3–10 years depending on capital class).  
  3. Hire key local talent
    • Mandatory: Vietnamese chief accountant (can be outsourced).
    • Typical ratio: at least one Vietnamese hire per foreign employee.
    • Sign bilingual labor contracts; register staff for social, health, and unemployment insurance.

PHASE 3 | Crypto‑Treasury Infrastructure (Week 10 – 18)

  1. Design secure custody architecture
    • Adopt 2‑of‑3 multisig or MPC wallets (e.g., Fireblocks, Unchained, or in‑house HSM).
    • Distribute keys—CEO, CFO, and independent custodian/board member.
    • Keep seeds in separate bank vaults; run quarterly key‑refresh drills.  
  3. Implement compliance stack
    • Draft internal AML/KYC policy mirroring FATF rules; screen counterparties.
    • Set up transaction‑monitoring alerts at predefined satoshi thresholds.
    • Maintain an immutable on‑chain + off‑chain audit trail for every transfer.
  5. Choose trading rails
    • Until Vietnam licenses local exchanges (expected under the Digital Technology Industry Law, effective 1 Jan 2026), route buys via:
      • Foreign exchange accounts (Singapore, Hong Kong) → OTC desk → on‑chain delivery.
      • P2P desks only as a last resort, with strict record‑keeping.
    • Remember: using Bitcoin as payment in Vietnam is still prohibited; holding/trading is permitted.  
  7. Book BTC on the balance sheet
    • Today: treat BTC as an intangible asset under IFRS IAS 38 (cost basis, impairment).
    • Prepare to migrate to the new digital‑asset accounting standard Vietnam will issue under the 2026 law.  

PHASE 4 | Tax & Regulatory Compliance (Continuous)

  1. Vietnamese taxes
    • Corporate‑Income Tax (CIT): 20 % on net profits, including realized BTC gains.  
    • File provisional CIT quarterly; annual audit by a licensed Vietnamese firm.
    • No clear VAT on BTC itself; charge VAT (10 %) only on service fees if any.
  3. U.S. reporting obligations (as majority U.S. shareholder)
FilingTriggerDeadlineKey riskSource
Form 5471Own ≥ 10 % of a foreign corpAttach to 1040/1120$10 k + per‑month penalties
FBAR (FinCEN 114)Aggregate foreign bank accts > $10 k15 Apr (+ Oct 15)$10 k–$100 k penalties
GILTI / Form 8992‑8993CFC w/ active incomeWith return10.5 %‑13.125 % tax on deemed intangibles

  2. FinCEN & OFAC awareness
    • If the Vietnamese entity ever transmits customer funds, it could be deemed an MSB under U.S. rules—stay below that threshold or register.  
    • Screen all BTC addresses against OFAC’s SDN list.
  4. Board‑level governance
    • Monthly treasury report: BTC held, cost basis, unrealized P/L.
    • Semi‑annual stress‑test: simulate 50 % BTC drawdown and exchange‑shutdown scenario.
    • Annual security audit of wallet infrastructure and SOC‑2‑type review.

PHASE 5 | Scale & Adapt (2026 onward)

  1. Apply for a Digital‑Asset Service License
    • Vietnam’s new Digital Technology Industry Law recognizes crypto assets and will issue licensing decrees in 2026.
    • Early‑bird applicants (esp. foreign investors) are likely to get sandbox slots—prepare dossiers now.  
  3. Repatriate profits, reinvest, repeat
    • After audited financials, file the Profit‑Repatriation Notification with tax authorities; remit via your DICA.  
    • Consider a U.S. holding company (Delaware C‑corp) if you plan to raise capital via SAFEs or convertibles; this simplifies investor on‑boarding while keeping the Vietnamese OpCo focused on treasury operations.

Final Pep Talk 🌟

Vietnam just green‑lit crypto, but the runway is clear only for disciplined pilots.  Nail the paperwork, lock down your private keys, respect both Uncle Sam and Vietnam’s regulators—and you’ll hold a front‑row seat to Southeast Asia’s Bitcoin boom.  Stay humble, stack sats, and build with purpose. You got this! 💪🚀