Vietnam
Capital: Hanoi.
Official languages: Vietnamese.
Currency: Vietnamese Dong.
Vietnam is a rapidly developing economy in Southeast Asia. It is becoming an increasingly attractive place for business.
Benefits of Company Registration:
- Fast registration procedure.
- Flexibility in choosing a company legal form.
- Online Banking in English.
- Possibility of remote account opening.
Vietnam is a state in Southeast Asia, located on the Indochina Peninsula. It borders China to the north, Laos and Cambodia to the west.
Vietnam today is one of the fastest growing markets in Southeast Asia. Vietnam actively attracts foreign capital and investment to modernize the country's economy. For this purpose, the business registration process for foreigners has been greatly simplified in recent years.
Taxation and Reporting Requirements
It is important to note that Vietnam's tax legislation provides a range of tax incentives to attract investment into high-tech and innovative sectors of the economy.
LTD is one of the most popular legal forms of business among foreign investors in Vietnam.
So, with proper structuring, an LTD business in Vietnam allows for a quite acceptable tax regime for conducting profitable entrepreneurial activities.
- Corporate tax: the rate for foreign companies in Vietnam is 20%.
- VAT: the standard VAT rate is 10%. For certain goods and services, a 5% rate or VAT exemption applies.
- Import and export tax. Levied in the form of import duties from 0% to 150%, depending on the product. Exports are not subject to duties.
- Registration and licensing fees. Paid once when registering a company or obtaining permits.
Company Registration
Company registration timeline: 1-2 business days.
The first thing you will need to do is choose the type of company. We recommend opting for the popular legal form for foreigners – LTD.
You will also need to prepare a certified package of documents in English.
- Copies of participants' passports translated into English and certified.
- A document confirming the residential address of all participants (utility bills, bank account statements indicating the address).
- Resumes and contact details of participants.
- Completed KYC questionnaire.
- Business presentation in free form.
How to Quickly Register a Company in Vietnam:
To quickly register an LTD in Vietnam, contact the IT-OFFSHORE specialists. Our service fee includes:
- Preparation of documents (collection, completion, notarization, etc.)
- Company registration.
- Payment of all state fees.
- Registration agent services for 1 year with renewal option.
- Translation services.
- Delivery of registration documents to any address.
Opening a local bank account and accounting services are charged for separately.
Conclusion
The simplicity of registration and access to the large Asian market make Vietnam an attractive place to start a business. However, when choosing a jurisdiction for a company, it is necessary to consider not only current legislation but also possible future changes. Consult with IT-OFFSHORE lawyers to avoid potential legal consequences and ensure compliance with laws.
IT-OFFSHORE offers comprehensive support for your Vietnamese company at all stages - from registration to full support of its activities. We not only help legally formalize the company but also take on the solution of many subsequent tasks. In particular, our range of services includes maintaining accounting and tax records, providing a nominal director and shareholders, renting a legal address, obtaining all necessary licenses and permits for the company, etc. We practically ensure the full operation of the business in accordance with the laws of the specific jurisdiction.
