Vietnam is one of the fastest-growing economies in Southeast Asia, with a young population, a large domestic market, and a strategic location for trade and investment. However, doing business in Vietnam as a foreigner can also pose some challenges, such as cultural differences, legal barriers, and bureaucratic procedures. Here are some tips to help you succeed in the Vietnamese market.
Keeping your tax reports in compliance is a time-consuming yet crucial part of doing business, especially when operating in a foreign market. For this reason, we have put together this article to highlight the key things a foreign investor needs to know about corporate compliance and tax reporting in Vietnam. This article was last updated.
This is a new regulation of Law on amendment to some articles of the Law on entry, exit, transit and residence of foreigner in Vietnam which takes effect as from 1 July 2020.
Various trade agreements and increasing openness to foreign investment have resulted in lucrative opportunities for foreign investors in Vietnam’s trading sector.
In what form should a company be set up in Vietnam?
According to ‘Doing Business Report 2019’ article of the World Bank, the time-period for starting a business in Vietnam is getting better.
Expats are people living outside of their native country. The reasons they’re doing so include jobs and career, lifestyle choices, education and for love and family. But what countries are the most welcoming to expats?
Currently, the number of foreigners coming to Vietnam to work and live is increasing, so the demand for housing also increases. Therefore, how can foreigners limit/avoid the disputes from the lease contract?
Vietnam is the third largest market in Southeast Asia and one of the fastest-growing economies in the world. Its young population and robust consumer spending provide lucrative opportunities for many types of businesses.
A common question for foreign investors and companies is what is the minimum capital requirement in Vietnam?
The foundations you lay for your business namely, the type of legal entity you choose for entering the market will determine the success of your future business
Under Vietnam’s Law on Social Insurance dated 20 November 2014, from 1 January 2018, foreign employees working in Vietnam with either (i) work permit, (ii) practicing license or (iii) practicing permit issued by Vietnamese authorities will be required to contribute to Vietnam’s compulsory social insurance scheme. However, due to the lack of further guiding legislation, this policy has yet to be implemented.
On 20 August 2018, the Ministry of Industry and Trade (“MOIT”) issued Circular No. 21/2018/TT-BCT (“Circular 21”) to amend several articles in Circular No. 47/2014/TT-BCT (“Circular 47”) and Circular No. 59/2015/TT-BCT (“Circular 59”) on the management of e-commerce via websites and applications on mobile devices. Circular 21 is effective from 18 October 2018.
Recently, we realized that many foreigners wishing to invest in Vietnam but to avoid the complicated procedure and the tough requirements applied to the foreigner, some foreigners select to facilitate and fund the Vietnamese trustee to set up the local company for the sake of the foreigner. To have capital to run such local company, the foreigner will lend a loan to the Vietnamese trustee.
