When an individual or company (business) want to invest abroad and Setting up a foreign company in Vietnam, They have a choice of locations in Hanoi or Ho Chi Minh City, and the type of Company Ltd. or JSC company, same investors as a Vietnam. Foreign investors have the right to invest and Establish foreign capital Company to implement the business of import, export, wholesale, retail sale in Vietnam and more...
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Entry strategy. Foreign entities may establish its presence in Vietnam as a limited liability company with one or more members, a joint-stock company, a partnership, a branch, a business cooperation contract or a representative office.
It should be rather easy and simple to set up a small business in Vietnam. Often, it is very likely for foreigners to be approved to start small businesses for as little capital as US$10,000. Of course, since it is a small business, it should not be labour intensive and that is why the minimum capital is not strictly enforced.
Small businesses that meet this criterion include market research, consultancy, and web design. The minimum capital may vary slightly based on the line of work you have chosen for your small business.
In general, a foreigner who wants to register a company for small business in Vietnam must provide all necessary documents, including:
Rest easy as you let us handle your accounting, e-filing and tax obligations. We take care of the output value-added tax (VAT) i.e. invoices issued for clients, and input VAT (i.e. invoices issued based on services provided). We also submit a monthly report that provides information on the number of invoices issued for clients as well as the number of canceled invoices. Furthermore, we provide corporate income tax and personal income tax calculation services.
Not only do we take care of your monthly, quarterly and annual tax reporting, our accounting and tax experts also prepare your financial statements by end of the year as well as classifying and checking the validity of all reports and whether they are in compliance with the regulations prior to submitting the final financial statements.
In addition, we also take care of other tax compliance in Vietnam, such as withholding tax and internal tax accounting, if required by your company. Withholding tax rates may be different between one company and another, depending on a contract.
Last but not least, we offer tax auditing services to companies who require professional assistance and support in preparing reports to be submitted to the tax auditing office in Vietnam.
LLC is the most common legal entity type in Vietnam and an excellent choice for small and medium-sized enterprises (SMEs). Single investors can take advantage of its simple corporate structure, which requires one founder only. LLC is not permissible to issue public shares and be publicly listed on the Vietnamese stock exchange.
JSC is recommended for medium and large-sized businesses as its corporate structure is complicated and requires a minimum of three founders. Furthermore, its registration process is often delayed due to more demanding requirements. This kind of a shareholding company allows its owners to issue shares and be listed on the public stock exchange.
RO is perfect for foreigners wanting to observe the local market and gain market presence before expanding. An RO is not allowed to conduct business activities that generate income and behave like an ordinary company. It is possible for the RO’s head office to sign, adjust/supplement contracts on behalf of foreign company, if s/he is authorised by its legal representative, with the power of attorney being present.
A branch serves as an extension of its parent company. Owners of branches in Vietnam can conduct all parent company’s commercial activities and make a profit without incorporating a separate legal entity.
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