How is office set up in Vietnam?

How do I set up a branch office in Vietnam?

In order to set up a branch in Vietnam the parent company must provide documents evidencing the incorporation of the parent company such as:

  1. Incorporation certificate.
  2. Certificate of good standing or commercial register extract.
  3. Articles of association.
  4. Latest audited annual report.
  5. Business licenses of the parent company.

Can foreigners set up company in Vietnam?

Can Foreigners Own a Business in Vietnam? Foreigners may own businesses in Vietnam. Some industries such as tourism, advertising, and entertainment require a local partner. But most businesses can be 100% foreign-owned.

Is Vietnam a good place to start a business?

Being one of the fastest-growing economies in the world, Vietnam becomes a strategic place for many foreign entrepreneurs to invest. Its relatively cheap but highly qualified population is not the only reason attracting businessmen from all over the world to set up a company in Vietnam.

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What is the difference between a rep office and a branch?

In most countries, a representative office cannot handle transactions or contractual matters. A branch office, on the other hand, is a direct extension of the parent company and can engage in core activities like sales and contracts.

How much does it cost to register a company in Vietnam?

Fees

Different Vietnam entity types Cost Draft Invoice
Foreign company subsidiary LLC US$20,740 View invoice PDF
Joint venture LLC US$19,740 View invoice PDF
LLC with employment visas US$22,690 View invoice PDF
Joint stock company US$21,620 View invoice PDF

How much does it cost to start a ro company in Vietnam?

On average how much for opening R.O in Vietnam ? – The total cost of opening representative office in Vietnam is 700 USD. – The above fee do not include: VAT, translation fees, notarization and legalization (if any).

What are the risks of doing business in Vietnam?

Overseas Business Risk: Vietnam

  • Political.
  • Economic and Trade.
  • Business and Human Rights.
  • Bribery and Corruption.
  • Terrorism Threat.
  • Protective Security Advice.
  • Intellectual Property.

How do I set up an LLC in Vietnam?

What documents are required to register an LLC?

  1. Certificate showing the amount of investment required;
  2. Articles of Association certificate;
  3. Proof of registered address;
  4. Information on the shareholders or members of the LLC;
  5. Business plan including the investment project and money that is invested; and.

Can foreigners buy real estate in Vietnam?

The law on land ownership in Vietnam is valid for all types of property. A foreign owner can purchase an apartment, house, villa or land. Foreign individuals and foreign entities cannot hold more than 30% of the shares of a building or more than 250 properties in the same district.

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What is the best business in Vietnam?

1. Textile and Garment. Garment and textile items production is one of the most lucrative businesses in Vietnam. Foreigners or investors are likely to make a profitable gain out of this sector because it is considered one of the active sectors in its exported items.

What kind of business can I start in Vietnam?

Then, Vietnam National Law will introduce about top 10 business that smart investors can do in Vietnam.

  • Furniture Making and Remodeling.
  • Garment and Textile Products.
  • Construction and building Materials.
  • Detergents and cosmetics.
  • Agricultural Products Processing.
  • Exportation.
  • Real Estate.
  • Restaurant and Bar.

Is Vietnam a good investment?

Vietnam’s proximity to major cities and countries in Asia, especially China, makes it a favorable investment hotspot for foreigners. Thanks to its huge coastline, Vietnam is in a position that is very close to important shipping routes for exports and imports.

What is a representative office in Vietnam?

Representative office (“RO”) is not a separate legal entity under the laws of Vietnam. The activities of a RO are limited to business promotion, identification and accelerating trade opportunities, and supervising the implementation of contracts signed between its parent company and local partners.

Can branch office enter into contracts?

These offices are not permitted to involve into activities such as entering into any contracts with Indian residents, borrowing funds, trading, etc.

Is a representative office a PE?

In most countries, in order to recognize a PE — or a taxable presence — the revenue-generating entity needs to be formally registered under some corporate identity, typically a branch, representative office or subsidiary. … While such tests vary by country, the following are generally speaking indicators of a PE.

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