Foreign company in Vietnam
Informations for Foreign company in Vietnam
When starting a business in Vietnam, apart from developing a marketing strategy, hiring staff and raising money, one very important thing to do is research advantages and disadvantages of foreign company in Vietnam.
Let Vinasc – a unit specializing in consulting services on the procedures for establishing domestic and foreign enterprises analyze for you some advantages and disadvantages of foreign companies in Vietnam.
1. Advantages ( Foreign company in Vietnam
Vietnam’s Law on Investment specifies three forms of incentives that are available to companies operating within the country. The following incentives are listed under Section 1, Article 15.1:
- Application of a lower rate of corporate income tax for a certain period of time or throughout the project execution;
- Exemption or reduction of import tax on goods imported as fixed assets on raw materials, supplies, and parts used for the project;
- An exemption, reduction of land rents and land levy.
Vietnam’s Law on Investment, as well as its subsequent decrees and circulars, specify in the types of projects that qualify for incentives and the nature of incentives that these projects qualify for. The most common incentives are those available for investments made in specialized locations, industries, or investment zones in the country.
2. Limitations (Foreign company in Vietnam)
- The scope of real estate business is narrower than domestic investors
- Some industries that foreign organizations/individuals cannot conduct business
- Or conditional investment sectors regulated by the state in many different documents.
- There are restrictions on a number of business lines for foreign traders, especially those that are not included in the international commitments, requiring investors to carry out investment evaluation and consult with foreign investors. Relevant ministries and branches. For example: Debt trading service, property auction service, price appraisal, …
Please contact us for more details about the incentive policies and restrictions of foreign investors when establishing foreign companies in Vietnam.
3. Vinasc’s services to establish a company in Vietnam include:
- Consultancy on business locations
- Consultancy on business lines and areas
- Consultancy on the scale of investment capital
- Consultancy on legal records, procedures
- Consultancy on procedures and labor policies need to be followed.
- Carry out the procedures for seals as prescribed
- Consultancy on banking-related procedures;
- Consultancy on procedures and tax policies need to be followed
- Carry out legal procedures to complete the setup of a company in Vietnam at the request of the investor.
Besides providing services to establish a company, Vinasc is also a unit specializing in providing services that should be used after establishing the company such as:
- Accounting and tax consulting services
- Auditing services
- Electronic invoice
- Other license services: Business license, Food safety certificate services, Fire safety certificate services
- Legal advisory services
- Accounting Software
- Digital signatures
4. Reasons why you should choose the services of Vinasc?
- Vinasc is an experienced company, our highly professional team, with in-depth knowledge of establishing company, Accounting and tax consulting services, Auditing services, has been successfully helping customers establish and manage offshore companies.
- Our aim is to assist our clients in getting their companies to operate in the quickest possible time frame, in the most professional manner. we pride ourselves on providing the highest quality of service, at the most reasonable costs.
- Confidentiality is one of the most important aspects of our work. our customer database cannot be printed , copied or exported. thus, all confidential data or personal data of our customers is strictly confined to our offices.
You can be assured of a completely professional and confidential service should you choose to use us.
If you have any plan to establish a company in Vietnam, don’t hesitate, feel free to contact us.