STEP BY STEP SETUP COMPANY IN VIETNAM
When foreign investors are interested in companies established in Vietnam, they need to know what issues?
- Provisions of the current law of Vietnam like?
- Government policies for foreign investors?
- Capacity requirements of foreign investors like?
- In the business sector that the Government of Vietnam encourages foreign investors to participate in?
Step 1: What kind of company you started?
► 2-50 Co. Ltd. members or 1 member co.LTD
► JSC company ?
► Branch offices of foreign companies in Vietnam ?
► Vietnam Company has 49% ownership by foreigners?
Issues you care?
☑ What is the yearly tax rate? The rate of income tax on your business be?
☑ There is a special certificate for your next business license company?
☑ Not how long it takes to complete the licensing company?
☑ Is there any legal requirements of Vietnam in ownership of your company?
☑ How to transfer money abroad from Vietnam? How much is the fee and how it works according to the laws of Vietnam?
☑ As with any investment incentives for your business?
☑ How do we take care of the financial statements monthly and yearly?
☑ How to Vietnam laws work in any trade dispute?
Step 2: License Company in Vietnam
Any information you can get in step one is to operate your business better and to ensure that you will not do anything that conflicts with the laws of Vietnam. This second step, the company licenses, is the key to your business legally.
Depending on the type of business you are running, with pricing and different time frames received licenses for companies in Vietnam. All our packages include receiving the tax code and the seal of the company as well.
Price: from 200 USD / Vietnam company, from $ 1,500 up/foreign companies.
Step 3: office space
We service brokerage and leasing virtual office in District 1, you just raised your budget and requirements we will meet your needs.
In addition, we also support you on the internet registration, monthly tax reports; find employees, or other services in Vietnam.
This is just an overview to establish a company in Vietnam, we have a complete package to establish your company with reasonable prices; professional service, fast and great. Please contact us to get started.
Step 4: Publish the content of the business registration
After being granted the certificate of enterprise registration (ERC) and (IRC) , the investor shall disclose information about the enterprise on the national enterprise registration portal within 30 days, including the following information:
i, Business lines;
ii, List of founding shareholders and shareholders being foreign investors for joint-stock companies.
Step 5: Registered business stamp
The enterprise has the right to decide on the form, quantity and contents of the stamp of the enterprise. The content of the stamp must show the following information:
☞ Company’s name (IRC and ERC)
☞ Business code.
☞ Tax code
And two star...
After receiving the legal entity stamp and before using the business stamp, the enterprise must send a notice on the stamp of the enterprise to the business registration office for publication in the National Information Portal on the business registration.
Step 6: Notice of use of stamp
After having stamp made, investors submit notices on use of stamp forms to the Investment registration agency.After receiving the record, the Investment registration agency issues a receipt for the enterprise, publishes the notice of the enterprise on the National Business Information Portal and issues a notice of the posting, stamp samples of enterprises, branches and representative offices for enterprises.
Step 7: Open bank account
Investors need to open two types of bank accounts for use Tax and Token (Tax Department check), namely the investment capital account to receive the investment amount and the transaction account for conducting daily transaction in Vietnam.
Step 8: The post licensing procedures
For the conditional business lines:
Investors investing in conditional businesses lines as regulated in Appendix 4 of the Investment Law 2014 and Apply 1/72015, must apply certificate of business qualification, practicing certificates, professional liability insurance, legal capital requirements..vv. before conducting business in Vietnam.
LHD LAW FIRM is the Top law firm cosulting for Expat in Viet Nam
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STEP BY STEP SETUP COMPANY IN VIETNAM
Dear Sir/Madam, Hi, Its Shirin from Iran Maxgroupint . Actually we want to set up a virtual office in Ho Chi Minh city . For this issue, we need to have below info: 1- Having independent and reliable information reports about Ho Chi Minh city firms 2- Reduce credit risk and improve knowledge about business in Ho Chi Minh city 3- Propose valuable information to make the right business decision 4- Reduce commercial and financial risk 5- Monitoring and benchmark market competitors in Ho Chi Minh city and find commercial insight, financial data, shareholders and directors,... 6- Publishing job vacancy on your local newspapers in order to employ a female staff, she should be known English well and has experience in field of business 7- Getting full authorization and banking from her 8- Not paying custom duty 9- Paying less Tax Fee 10- Consultancy on taxation and peculiarities of doing business in Ho Chi Minh city; 11- Consultancy on taxation of dividends of foreign participants (founders); Set up a company AND Working permit · Drafting and notarizing the documents, · Company name approval, · Payment of the registration fee, · Registering in the executive office; · Registering in the taxation office and social insurance offices, · Opening a bank account. Licensing · Consultation on the questions of licensing; · Preparation of all necessary documents and their assignment into a correspondent state structure; · Obtaining a license and handling it to a client. Please kindly let us have your comment and advise . Awaiting for your kind and soonest reply.
I would like to open up a security company have many experiences experience as security guard what is the initial capital I have to put in so I can get a return on my investment firstname.lastname@example.org Sergio. Mora
How are you? Thank you for your patience and understanding. I'd like to have a short meeting (30-40min) with you to get to know LHD further more and discuss some questions as: Cooperate structure when having different investment partners Required documents estimated timeline Any outstanding points that need attention If possible this afternoon or Tuesday/Wednesday this week in HCMC. Looking forward to hear from you.
Dear LHD Firm Thanks for infomation Great advice, Fred! I have a friend who got scammed because the person who she was dealing with (and thought was the owner – he produced copies of paperwork) wasn’t the real owner.
I have a question. How to legally protect yourself from greedy landlords once they have seen your business is successful and how to stop copycats stealing your ideas and using them for profit? Eg someone copying your business?
hi, it is 2017 now. any update on this issue – starting a small coffee shop in ho cm city. Is it still so trouble-some and risky about being scammed?
My friend a legal citizen of Singapore wanted to open a Used Piano musical instrument shop or store in Viet Nam and would require importing via container (the pianos) from Singapore. We would like to ask what are the requirements. Thank you and kind regards. Vins
Set up a new company in Vietnam Hello, My name is Assem. Im present company based in USA. We are looking for a lawyer or company which will provide us services: 1) setting up a LLC in Vietnam 2) the first tax registration The business lines need to include the trading business and tourism development management consulting services. Please advise if you can help us with that. Thanks in advance
We want to Setup a company in VietNam with trading, pls send me the Quotation and Fee ? Thanks
Hi, Denis Voight is my name from Uc. I live in VN just on 10 years. I have a Work Permit and Resident Card here in Dong Nhi. I work as an Native Speaking English tutor for a Language Center (and some private students) My income is enough for my living but not for accumulating wealth. I am 66 years old in good health In my 10 years here I have had 10 residential addresses!!! Some places i signed for I was not permitted to move into! You see people do not want to Register me with the police. It is the Law and makes things safer for me too - but... Resident Card expires next November 2019. I have had enough of the 'gypsy life' and will give up going home. However I prefer to live in Viet Nam, its safe, people are kind (well to me) even 3 cats moved into my house! BUT with out a place to stay.... A friend suggested I look at setting up a private Company (or even with a trusted family here) The Vietnamese Company can buy a land for its business (a house where I can live) I would be the Director. Could the company also heir me out to teach? I guess I would need to have a work permit being a foreigner employed by my company??? So my company would exist to provide Native Speaking people to work or tutor in English. Now some months i earn 5 mill VND, others 10 depending and occasionally 12 million. As I am retired in Aust I use a self funded 'pension' investment trust, It 'pays me' just under $2000 Aust per month from my investments, rent from my house, drawing on my Super Fund. while Becoming a Company will permit me to 'settle down, how will it effect my residency? If the Company does not succeed in hieing myself or others out what will happen, I mean if it generates no income! In effect can it be a means to retire here? Can the Company also 'invest' in other areas say buy and sell art, invest in friends business, even buy and later sell land! I would be lost complying with tax regulations requirements so look for a company to do that but at what costs? It may cost more than my retirement income would permit. The final question is what happens when some day I 'sell up' to return to Australia? Can my money be sent back? I will need it to pay for the retirement hospital! Or should I die while here how will the company be wound up and the funds returned to my estate to be distributed according to my Last Will ? Thank you for your consideration, it may not be practical but a close friend suggested I ask the professionals. Viet Nam is a good place to live regards denis
We recently allowed our rep office license to lapse as we are changing to a Vietnam registered company. I was informed recently the max % of foreign owner was 35%. I have always been told by my people we needed to have majority shareholding by Vietnam national. 51% by Vietnamese and 49% by an Australian passport holder has been the plan. Hearing only 35% was possible was a surprise. Can you please advise what would be the steps and approx costs for a 100% foreign owned company. We are a small team with annual revenue of A$600k so we are by no means a multi-national. Hence a massive investment to set this up would not be possible. We are a software company and only have the offices in hcmc to hire development staff. We are up to date with all social insurances and taxes. Many Thanks
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