Vietnam is known for its beautiful landscapes which makes tourism one of the most developed industries of this country. 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.
Local and foreign investors who want to set up hotels in Vietnam will first have to register a company with the Trade Register and then apply for the necessary licenses before starting operating. Below, our Vietnam company formation agents explain the requirements for establishing a hotel in this country.
Foreign investors setting up hotels in Vietnam
Foreign enterprisers who want to open an accommodation establishment in Vietnam will benefit from the same legal requisites as local investors, the only difference being the type of commercial entity they can use. They must have a local partner who has previously obtained a special license issued under the Law on Tourism Services and Hotel Services in Vietnam.
Local and foreign partners can set up joint venture companies and apply for an international tourism operation license. Also, the is no limitation on the participation of the foreign investor in the joint venture. The minimum share capital for setting up a hotel under the form of a joint venture company is 250 million VND (approximately 12, 500 USD).
Fully foreign-owned limited liability companies are also allowed to operate in the hotel sector, however, these will need an investment certificate issued by the Investment Board in Vietnam.
Our company registration consultants in Vietnam can assist with the registration of the chosen business form when opening a hotel.
We are at your disposal with assistance in opening the bank account in Vietnam for your hotel business.
Licensing requirements for opening a hotel in Vietnam
There are several laws which must be respected when opening a hotel in Vietnam. Among these the Commercial Law and the Investment Law apply to foreign investors. In order to obtain the tourism operation license, they must submit a set of documents with the municipal authorities of the city where the hotel will operate.
The documents must contain information such as the investment project, the services it will offer and the employees.
For full information on how to set up a hotel, please contact our Vietnam company registration advisors. Accounting has a significant impact on a company’s operations. Accounting services are also needed for every small and large organization to run smoothly and efficiently. Accounting is involved whenever a transaction is documented, tax documents are filed, or a cost is planned. To run a business efficiently, you will need to manage the accounting service sector, or you can also get in touch with our Vietnamese accountants.