Setting up a company in Vietnam as a foreigner implies respecting certain requirements, however, an overseas entrepreneur has two ways of starting a business here: by registering a new business form or buying a shelf company.
The main requirements for company registration in Hanoi imply selecting the business form and for foreigners, the wholly-owned limited liability company is the right choice for those who want to have full control over the operations.
The most important law which provides for the repatriation of profits from Vietnam is the Foreign Exchange Management Act which covers the ways in which income generated here can be sent to a foreign citizen or company’s home country.
The first step in opening an auto repair shop in Vietnam is to register a company with the Companies Registrar. Also, foreign investors have no restrictions if they decide to start car repair shops in Vietnam.
Turning the sole trader into a Vietnam LLC will imply de-registering it with the Trade Register by filing a petition and then registering the LLC by completing the usual company registration phases of a company.
There are no special licenses or requirements related to setting up a plumbing in Vietnam, however, having knowledge in the construction sector represents a great advantage.
Foreign investors who want to set up companies in agriculture in Vietnam can register one of the business entities approved by the Company Law, however, the most employed type of structure used for such activities is the co-operative.
The first requirement to set up a restaurant in Vietnam is to register a company, a procedure which can be handled by our local company formation agents.
Starting a fast food business can be a good idea for both local and foreign enterprisers relocating to Vietnam, however for the last category the requirements are stricter from a company incorporation point of view.
Setting up a business in Vietnam comes with many advantages for foreign investors who want to explore emerging industries like cryptocurrency. Vietnam is one of the first Asian countries to create regulations for cryptocurrency transactions.
One of the most profitable type of business foreign investors can set up in Vietnam nowadays is a fintech company which is characterized by offering innovative financial solutions.
Foreign investors who want to start an online business in Vietnam must follow several steps, among which the company registration process, the creation of a website and registration of a domain name and the opening of a merchant account.
From a taxation point of view, Vietnam is one of the most attractive jurisdictions in Southeast Asia as the dividend tax can be reduced based on the double tax treaties signed by the government with other countries.
Becoming a shareholder in Vietnam can be effectuated by setting up a new legal entity, acquiring a shelf company or buying stocks in one. In this article, our company formation advisors in Vietnam briefly analyze these three options of how to become a shareholder in this jurisdiction.
Those who want to open a HORECA company in Vietnam can open a restaurant, a hotel or a café, or can integrate all three businesses into one. The first step to start such business in Vietnam is to choose the type of entity and register it.
The company registration is the first step when opening a consulting company in Vietnam. The Vietnam authorities are more relaxed when it comes to the licensing requirements related to offering consulting services.
The new Enterprise Law and Investment Law which were both adopted in 2014 apply to foreign-invested and local companies in Vietnam. These laws confer the legal frame for an equal treatment in most of the economy industries.
Foreign citizens who intend to reside in the country for a prolonged period of time must obtain a permanent residence permit in Vietnam. As follows, our company formation consultants in Vietnam present several aspects related to obtaining this permit here.
Foreign investors who want to set up real estate agencies in Vietnam are subject to the Companies Law, but also to the Investment Act when choosing the structure for their business.
It should be noted that both grocery and non-grocery retail shops have had significant increases in profits in the past two years, and foreign investors with retail shops here have benefited the most from this industry thanks to the favorable legislation for foreign investments.
The IT market in Vietnam is quite new, however, it has seen a rapid development. Even though the country connected to the internet in 1997, by the end of 2001, the subscriber numbers were assessed at approximately 165,000.
The Vietnam tobacco industry has a production capacity of approximately 5,800 million packs per year, which is used at around 70% to 80% of its capacity. The cigarette output of the sector has been rising since 2000, mainly because of investments which were made in the tobacco growth.
Vietnam is a developing market for food products, being still large enough for a lot of investors, as well as newcomers. To be successful in this fast sector, where the competition is increasing, businesses have to understand better the consumer demands and generate an exciting experience for their customers.
Foreign investors are also welcomed to set up event management businesses in Vietnam as long as they respect the Investment Law and the Enterprises Act.
Foreign investors who open companies here have also started investing more in tourism than in other industries, one of the most preferred business forms being to set up hotels in Vietnam.There are several laws which must be respected when opening a hotel in Vietnam.
Those who want to open companies in the financial sector in Vietnam have various branches they can choose from. Investors who want to open financial companies in Vietnam must comply with several requirements.
Most of the costs which must be considered when opening a business in Vietnam revolve around the fees related to the incorporation procedure of the company.
Vietnam is one of the largest exporters in the region. At global level, Vietnam is the 24th largest exporters. In terms of imports, Vietnam ranks 27th worldwide.
The liaison office is not a legal entity, but a form a foreign company uses for non-commercial activities in Vietnam. The procedure for opening a representative office in Vietnam must be approved by the Trade Register
Foreign enterprisers who want to start e-commerce companies in Vietnam must comply with several regulations. Our company formation consultants in Vietnam can explain what these rules are.
Foreign investors must comply with two sets of law if they want to create holding companies in Vietnam. The first one is the Enterprise Law and the second one is the Investment Law.
The company registration process in Vietnam is not complicated and implies a few steps, one of the most important relating to choosing, reserving and registering a company name.
Even if a company has been registered, it is useful to know that its structure can be changed, if the owner wants to. The procedure of changing company types depends of the first form of the Vietnam business.
One of the most attractive incentives for foreign investors who set up businesses in Vietnam is the taxation system. According to recent surveys, Vietnam is one of the best countries to open a company in from a taxation point of view.
These are the two types of share capital prescribed by the law when registering a company in Vietnam.Our Vietnam company formation experts can offer information on the minimum share capital required when starting a business here.
The rights over intellectual property can be protected by registering copyrights, trademarks, industrial designs or models with the National Office of Intellectual Property of Vietnam (NOIP).
One of the most important attributes of the Vietnamese labor force is its youth. Also, Vietnam has one of the cheapest work forces in Southeast Asia.
Vietnam is one of the largest economies in Asia and one of the reasons for its economic wellbeing is the good combination between old industries like agriculture and manufacturing and the latest ones, such as information technology and financial technology.
One of the main advantages of Vietnam’s double taxation treaties is that is covers both natural persons and foreign companies with activities in the countries. Up to this moment, Vietnam has signed more than 60 double tax treaties.
There are several types of bank accounts which can be set up here. Among these, personal and corporate bank accounts are the most popular in Vietnam.
The local taxation system is based on the income tax which applies at national level to both individuals and companies.Companies operating in Vietnam will be levied the corporate tax at various rates based on the calculation of their profits.
The Vietnam law is very permissive with foreign companies seeking to operate on the local market through subsidiary companies. This is because the government is very keen on attracting new foreign investors.
For those seeking a faster way of doing business in Vietnam, there is the possibility of buying a shelf company. The shelf or ready-made company is a business form “sitting on a shelf” without any previous activity.
Vietnam is among the top 15 countries in the world in terms of population, which means it also has a great purchase power. In the region, Vietnam ranks 3rd in terms of market size.
The company dissolution process in Vietnam must start with a meeting of the shareholders and management board where a resolution for the termination of the business is agreed.
The steps which must be completed upon the Vietnam company formation procedure are easy and fast and all the documents must be filed with the Business Registration Office which is the equivalent of the trade registers in other countries.
In order to set up a branch, it is advisable for the foreign company to appoint a local agent who can complete the registration and licensing procedures. A Vietnam branch needs a special permit, called the establishment license.
Foreign enterprisers can benefit from many advantages when creating a limited liability company in Vietnam, especially if considering the legislation in this country provides for two types of forms of this structure.
The virtual office is the cheapest solution for small and medium-sized enterprises (SMEs) in Vietnam, which also represent the engine of the local economy.
Foreign investors can choose between the types of Vietnamese companies the Commercial Code provides for and which are similar to those in Western countries.
Opening a company in Vietman is not simple, however the requirements are. The minimum number of shareholders for creating a Vietnamese company is one, as for the directors, there is no imposition related to their nationality.