How to set up a business in Vietnam?

In recent years, Vietnam is not only well known for tourists but also for business people. The first and foremost issue that businessmen would consider is how to set up a business in Vietnam.

Setting up a business in Vietnam requires you to know about the existing laws in terms of investment as well as the types of businesses you can do.

You must obtain an authorization of entry which will allow you to apply for a business visa to Vietnam. You then need a partner in the country, who can be Vietnamese or from foreign origin. You will have to communicate him/her personally for the application. Once you have obtained your authorization of entry, you can go to Vietnam Embassy or Consulate in your country to apply for Vietnam visa.

You also can apply for DN Vietnam visa online. If you work in a company in Vietnam, let ask your company to get your visa sponsored with us vietnamvisavoa.com. You just need to send us your passport copy to email: support@vietnamvisavoa.com. We then check the information and inform you to pay for service fee. We will get your preapproval letter documentdone within 5 working days. You will fly into Vietnam with this document and then get stamped visa at Vietnam Arrival Airport.

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, 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, the area in which you intend to invest.

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

You then 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.

The registration certificate should be issued within ten days from the date of submission of the request. You also need to make sure that your business activities are legal 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.

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

Useful links:

Ministry of Finance of Vietnam www.mof.gov.vn

Doing Business www.doingbusiness.org

Source: Expat.com

Please contact us for further information via support@vietnamvisavoa.com or hotline: +84969255515 (Whatsapp/Viber/Wechat)

Let apply online for Vietnam visa on arrival quickly hereto discover business oppotunities in Vietnam as well as enjoy Vietnam beauty.