How to Setup business in Vietnam
Setup business in Vietnam has become a great demand of domestic and foreign investors.
This is an indispensable demand due to the dynamism of the Vietnamese economy, which has recently mobilized domestic and foreign resources. ( setup business in Vietnam)
In order to obtain complete information for foreign investors, Vinasc will assist investors important contents before conducting investment in Vietnam.
1. Investment environment in Vietnam:
– Legal environment: Vietnam is becoming more and more attractive to foreign investors because the policy is considered as favorable for investors. Reform of administrative procedures has been effective, shortened and saved time and costs for investors. However, there are restrictions for foreign investors in some cases in regard to: special licenses, procedures required, …
– Traffic situation: Transport infrastructure in Vietnam has been invested and upgraded recently, creating favorable conditions for trade. Goods, airline routes are constantly being opened and upgraded flight frequency …
– Quality of labor: Labor force in Vietnam has been increasingly improved, approached to modern industrial working methods. However, labor costs are also increasingly high and will not be cheap labor in the near future.
– Culture and communication: Vietnamese people are very kind, working and studying hard. However, the foreign language proficiency to communicate with foreigners is still an issue to be improved.
2. Matters should be noted when making investment in Vietnam
– Business Location: That choosing a business location is also very important for investors, because: Is there a location that is favorable for trade, is it suitable for business line planning, and is it tax-beneficial?
– Business sector: The business sector will decide 02 issues: Does the local planning approve the sector and are there any tax incentives?
– Compliance with laws: We believe that the first thing is to comply with the law from the initial procedure evaluation stage when investing to limit legal risks, financial risks …
3. Experience in making investment procedures in Vietnam
– If having a plan to invest and set up a company in Vietnam, the foreign investor is suggested to consult with a law firm in Vietnam for advice and service offering. This will save time and you will get the most complete and professional information.
– Get the necessary information before having to book a flight to Vietnam. We have met investors who have to come to Vietnam many times to carry out unnecessary works and it was very wasteful.
– Provide sufficient information and investment needs to the consulting firm to ensure that the procedures will be fully implemented.
– The consulting firm will answer questions such as:
How much capital is required to set-up a company in Vietnam?
Are there tax incentives in Vietnam?
How does the labor cost?
Where should investors register the business address in Vietnam? Ho Chi Minh City, Hanoi, Da Nang ……
How much does an office rental cost a month?
How long does it take to set-up a company?
How to transfer profits abroad?
What is Vietnam’s policy for foreign workers? ….
4. Difficulties and disadvantages need to know before making investment in Vietnam
– Compliance with tax and accounting laws: In Vietnam, the Government requires strict adherence to regulations on invoices, documents, reports, etc.
– Compliance with investment restrictions: Investment restrictions are applied in accordance with WTO agreements and bilateral agreements between countries.
– Compliance with regulations for foreign workers, such as: Work permit, temporary residence permits ….
Vinasc’s setup business in Vietnam:
– Setup business 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;
Carry out legal procedures to complete the setup of a company in Vietnam at the request of the investor.
Carry out the procedures for seals as prescribed
Consultancy on banking-related procedures;
Consultancy on procedures and tax policies need to be followed
Consultancy on procedures and labor policies need to be followed.
– Why should investors choose Vinasc’s setup business in Vietnam?
Investors will be consulted fully and promptly with a team of professional personnel;
Investors shall complete investment procedures with the fastest time, in accordance with law provisions;
Vinasc is a unit with experience in foreign investment consultancy with reasonable costs.
At Vinasc, investors will be supported and used solutions and services synchronously for the business operation of the business.
– When should investors contact and use Vinasc’s services?
Investors have had plans to invest in Vietnam
Investors have invested in Vietnam but need consultancy and adjustment about the information of business permit, relevant legal procedures;
Investors want to change business location ……
Mandatory reports submissions requirement for setup business in Vietnam
– Personal profile, investment organization (consular legalized)
– Documents proving financial capacity (consular legalized)
– Financial statements (for institutional investors)
Results of setup business in Vietnam:
– Investment certificate;
– Enterprise registration certificate;
– Business license;
– Seal sample and seal of the business.
Please contact us for advice and complete information for business plans in Vietnam.