How to set up a business in Vietnam?

Following the shifting from China to Vietnam, setting up a business in Vietnam is one of the most interesting topics for businesses today. This article will help you understand the basic procedures step-by-step.

This article was compiled by Long Hau Corporation (LHC) – The leading Industrial Real-estate consultant - a pioneer and successful business informing and building the eco-industrial park model in Vietnam.

1.  LEGAL ADVICE & INVESTMENT CONSULTANCY

First of all, you will need to gather important information about:

• Which industry should you invest in now?
• Is there any regulation or change that might affect your business?
• Which business areas are the Vietnamese Government encouraging foreign investors to engage in?
• Which kind of company should you start?
• How much is the minimum fund for your business?
• What is the yearly tax rate? What is the rate for your business income tax?
• Is there any special certificate for your business besides the company license?
• Is there any investment incentive for your business? How do we take care of the monthly and yearly financial reports?

The investor needs to be consulted before setting up a business in Vietnam

As a professional consulting partner, LHC will give you useful advice, clarify all of your concerns and take care of your company license. All you need to do is tell us what you want, what your concerns are and we will help you to get it in the shortest time.

2. COMPANY REGISTRATION PROCESS

The next step is to register your company with the Provincial People's Committee closest to your company's head office. You will be 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 6 steps of the investment process in Vietnam

You must ensure that your business activities are not prohibited in Vietnam and comply with current Vietnamese regulations & laws. All going smoothly, the registration certificate should typically be issued within 15 days from the date of submission of the request.

Remember that, depending on which type of business you want to set up, there is different cost and timeline for receiving a company license in Vietnam.

3. WORKSPACE FOR YOUR BUSINESS

Whether you're a well-established company or a newcomer, let’s explore the spaces that inspire you and your team for the most impactful works.

The right workspace can make or break a business. It's not easy getting the balance between affordability and the perfect premises, especially if your experience is limited, but it's crucial to take the time to do so.

During the time you are waiting to get your license, LHC will help you in finding a place to have your office. If you want to establish an office, a showroom or a restaurant, you should consider the downtown area, but if you have different needs such as lots of space for co-working space, we will have different suggestions.

Please take a look to refer the workspace in Long Hau Trading Center at http://bit.ly/2pzCC3n

Long Hau Trading Center: the Perfect Workspace for Creative Entrepreneurs and Dynamic Startups

4. LOOKING FOR OTHER SUPPORT SERVICES

To set up a business in Vietnam, besides the business establishment process, investors also need to support services before, during and after their operation. Thus, business support services become the most important aspect of businesses from small to large enterprises. You can outsource support services to other companies to maintain focus on your core business operations.

Support services will help the new business focus on core business operations

LHC's customer service center is a pilot of the one-stop service model, which will support investors in the following issues:

• Consultancy of quality and environment
• Consultancy and supervision on power station construction
• Consultancy of network construction and IT management
• Enterprise healthcare
• Meeting and convention room lease
• Transportation for employees
• Industrial catering supply
• Uniform supply
• Bottled water supply

Find out and see more at http://bit.ly/2NXG1RN

Established on May 23, 2006, Long Hau Corporation is the investor of Long Hau Industrial Park projects with a total area of nearly 500 hectares, divided into phases: Long Hau Industrial Park with area of 137,02 hectares (in 2006), Long Hau Industrial Park Extended with area of 108.48 hectares (in 2009), Long Hau Commune's Residential - Resettlement Area has total area of 55 hectares (in 2009) and now is Long Hau Industrial Park 3 – Phase 1 with area of 123.98 hectares.

Long Hau Industrial Park owns a strategic location near Ben Luc – Long Thanh Highway, Saigon – Hiep Phuoc port and SPCT port which helps investors save time, transportation costs and conveniently connect to Ho Chi Minh City center. With over 13 years of development, more than 200 domestics and foreign investors have chosen Long Hau Industrial Park as a sustainable development partner. We are continually improving and innovating in our products and services, as well as focusing on infrastructure and landscape investment to bring the highest benefits for each investor when choosing Long Hau Industrial Park.