Investing in Vietnam @ Asia Business Set Up

Setting up a Company in Vietnam
Setting up a company in Vietnam is a time consuming and complex process. The tedious method of setting up a company in Vietnam is often the subject of international investment criticism. However, there are logical engagement procedures invovled in setting up a company in Vietnam that interested parties can follow. Typically, Vietnam company set up is
1.	Firstly, it is recommended that the planned corporate structure of the company, including shareholders and directors, is confirmed in accordance with laws of foreign investment in Vietnam.
2.	A Business Registration Certificate from the Business Registration Office in the city of incorporation must be obtained when setting up a company in Vietnam.
3.	A seal-making license at the Administrative Department for Social Order (ADSO) under the Municipal Police Department must be applied for. Note that without a seal, a Vietnamese company cannot register with the tax department, open a bank account or apply for utilities, etc.
4.	An announcement in a local newspaper must be published making public the name and type of company, the number and issuance date of the Business Registration Certificate, the headquarters and business objectives, charter capital, name of the legal representative and the place of business registration, following the setting up of Company in Vietnam.
5.	The next step in setting up a company in Vietnam is to apply for a tax code at the Municipal Taxation Department in the city of incorporation, and pay the business license tax of 3 million Dong (US$187).
6.	Subsequent to this, the investors must submit the company’s accounting system to the Taxation Department for approval. The documents submitted include: Application for approval of the accounting system; Certified business registration certificate; A resume of the chief accountant.
7.	The company must comply with the Ministry of Finance's regulations on accounting standards and account maintenance.
8.	The company must then be registered with the local labour office to declare use of labour (Municipal Department for Labour, Invalids and Social Affairs) and with the Trade Union in the city of incorporation. Note that every Vietnamese company must undergo these steps.
Contact Us
For more information on Vietnam company formation, email email@healyconsultants.com or call us in Singapore at (+65) 6735 0120.
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