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Cost of setting up business in vietnam

Cost of setting up business in vietnam, how to set up a company in vietnam, Setup company in Vietnam

Cost of setting up business in vietnam: If you want to set up a business in Vietnam, you must first learn about the existing legislations in terms of investment as well as the types of businesses allowed to expatriates in the country. You must above all obtain an authorization of entry which will allow you to apply for a business visa to Vietnam.

Types of companies

There is no legal minimum or maximum capital regardless of the type of business you choose to create in Vietnam. You can invest either in local currency which is the Vietnamese dong or in convertible foreign currency. You must also determine the status of your company, stating the name and address of the head office and branches of your business, mentioning the area in which you intend to invest.

On the other hand, you must specify if it is a collective society mentioning the names and nationality of your business partners, have an organizational and management plan for your company. You will have to hire a legal representative to assist you with the procedures.

CONDITION FOR ESTABLISHMENT OF SOME HOT INDUSTRIES AND BRANCHES IN VIETNAM

1.      Import and Export

-         The registerd capital of  USD 50,000 or more.

-         Individuals or companies satisfy the standards for establishment registration

2.      Management and Investment Consultancy

-         Registered capital of  USD 10,000 or more

-         Individuals or companies satisfy the standards for establishment registration

3.      Retailing and Distribution

-         The registerd capital of  USD 200,000 or more.

-         Companies/Organizations will satisfy the standards for establishment registration

4.      Restaurants, Foods, and Beverages, Cafeterias

-         Registered capital of  USD 10,000 or more

-         Individuals or companies satisfy the standards for establishment registration

-         Asking for location for restaurant or cafeteria

5.      Training

-         Registered capital of USD 20,000 or more

-         Individuals or companies satisfy the standards for establishment registration

-         It is necessary to consult opinions of the Ministry of Education and the planning on location in the locality.

6.      Construction and Architecture

-         The registerd capital of USD 10,000 or more.

-         Individuals or companies satisfy the standards for establishment registration

-         Asking for more opinions from the Ministry of Construction

7.      Production

-         The registerd capital of USD 10,000 or more.

-         Individuals or companies satisfy the standards for establishment registration

-         Asking for more opinions on location for production

8.      Real Estate Business

-         The registered capital of USD 1,000,000 or more.

-         Individuals or companies satisfy the standards for establishment registration

-         The project required before establishment...

Registering your company

The next step is to register your company with the Provincial People's Committee closest to your company's head office. In fact, you are required to send a completed application by producing the following documents:

  • status report of the company
  • the list of shareholders or members and a copy of their identity card or passport
  • if the shareholder is a foreign company: a copy of the registration certificate
  • the certificate of paid-up capital for the establishment of the company
  • the exercise certificates of directors or associates.

  Good to know:

In general, the registration certificate should be issued within ten days from the date of submission of the request. However, you must make sure that your business activities are not prohibited in Vietnam and that the name given to the company complies with the provisions of Vietnamese law.

Once you have obtained the registration certificate, you have to publish information about your company on the registration office website, as well as in three consecutive editions of local newspapers within 30 days as from the date of issue.

Note that your company will be subject to income tax once you have registered with the Revenue Department of the Vietnamese Ministry of Finance.

According to the rankings of Legal500 and Hg.org, LHD Law Firm is one of the 10 leading legal services in Vietnam for our consultancy of establishing a foreign-owned capital business in our country. With 10-years experience in the field and the office system throughout the country: Ho Chi Minh City, Hanoi, Da Nang, Vung Tau, etc., LHD Law Firm takes pride in our commitment to satisfy our clients as foreign investors in Vietnam.

VIETNAM COMPANY FORMATION

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LHD Law Firm

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LHD LAW FIRM IN HO CHI MINH
Addr:  HP Tower, 60 (Floor 7) Nguyen Van Thu Street, Dakao Ward, District 1, HCM City, Viet Nam
Tel:
+842822416866 or +842822446739
Email: all@lhdfirm.com 

LHD LAW FIRM IN HA NOI
Addr: Anh Minh Tower, (Floor 4) 36 Hoang Cau Street, O Cho Dua Ward, Dong Da District, Ha Noi City, Viet Nam
Tel:  +842462604011 or +84911633168 

 

Cost of setting up business in vietnam

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