Small business setup in Vietnam
With an expanding economy and chances in manufacturing, technology, and services, Vietnam offers a promising environment for small businesses seeking opportunities in a vibrant and changing market. We have expertise in aiding start-up and growing small businesses. Our deep knowledge of the local market and skills in company formation allow us to help with the necessary documentation and procedures to establish your small business in Vietnam. Let’s talk about the benefits of starting a small business in Vietnam and how our specialized solutions can help ensure your success.
Formalities and procedure
Registering a small enterprise in Vietnam is a process that consists of multiple steps that can typically be finished within a few weeks.
Choose a business name
The name of the business must be one-of-a-kind and not currently being used by any other company. To verify if a name is available, you can visit the website of the Vietnam Trade Registry.
Select legal entity type
Choosing the right legal structure is crucial for the prosperity of your small business. We offer expert advice on Limited Liability Company (Cty TNHH), Joint Stock Company (Cty CP), Branch Office, Holding Company to assist you in making a well-informed decision that suits your specific needs and future goals.
Set up legal address
Establishing a legal address is crucial in the commencement of a business, as it acts as the primary point of contact for government agencies, legal entities, and crucial business communications. Selecting a legal address that complies with local regulations and aligns with the needs of your business is essential.
Get the necessary paperwork ready
Our team of professionals will assist you in developing detailed and tailored documentation that aligns with your organization’s structure and objectives. We ensure compliance with all legal requirements and handle the filing procedure on your behalf.
Open a bank account
In Vietnam, setting up a corporate bank account is necessary for starting a business. Our team will guide you through this process, making sure you adhere to the necessary regulations and supporting you in opening a bank account with a reputable financial institution in Vietnam for your small business activities.
Company registration
We take care of the registration procedure with entities such as the Trade and Companies Register and tax authorities, freeing you from administrative tasks. This ensures that your small business is properly recognized and compliant from the beginning.
Setup accounting
In order to effectively start a small business, it is vital to keep precise financial records. Our group of accounting professionals can assist in creating efficient accounting and bookkeeping procedures that adhere to the regulations of Vietnam.
Small business examples
Small businesses can be found in various industries and sectors, each with unique requirements. Here are a few examples of small businesses:
- Business support: Smaller consultancies, individual service providers
- DIY retail: Locally-owned hardware shops, small home improvement stores
- Education: Tutoring services, small language schools, independent trainers
- Farming: Smaller, family-run farms
- Fitness: Individual trainers, small local gyms or studios
- Food and beverage retail: Independent grocery stores, coffee shops, bakeries
- Hotels and motels: Smaller, independent hotels or motels
- Laboratory: Smaller independent testing labs
- Marketing: Freelance marketers, small local agencies
- Media: Independent content creators, niche publications, small production companies
- Printing: Small local print shops
- Real-estate: Individual realtors, very small brokerage firms
- Restaurant: Independent, non-chain restaurants
Benefits of establishing a small business in Vietnam
Vietnam is an attractive option for starting a small business, providing numerous benefits:
Strategic location
Vietnam presents numerous advantages for businesses seeking opportunities in a dynamic and evolving market, with a growing economy and opportunities in manufacturing, technology, and services. With a young and educated workforce, strategic location in Southeast Asia, and government initiatives to promote investment and development, Vietnam offers a favorable environment for companies looking to establish a presence in the region.
Favorable tax regime
Vietnam offers a flat corporate income tax rate of 20%, as well as incentives for investments in specific industries and regions. The country’s expanding economy and advantageous location in Southeast Asia make it an attractive choice for businesses.
Banking
Vietnam’s banking sector has strengths such as a thriving economy, stability, and attractive investment prospects, making it a prime destination for individuals and businesses looking for banking and financial services in a dynamic and developing market.
Our small business setup solutions
We understand how valuable your time and resources are, which is why we offer two convenient choices to streamline the process of forming a company.
Business formation online
With the online platform offered by Vietnam, individuals have the capability to start and finish the process of setting up a business from any location globally. The option to track progress, upload necessary documents, and access our services via secure digital platforms guarantees a seamless and convenient experience.
Business formation remotely
If you would like a more hands-off approach, we are able to manage all the paperwork for you. Our team of experts will handle all the necessary paperwork, complete the required formalities, and communicate with the relevant authorities on your behalf to ensure your peace of mind.
Contact us today and launch your small business success
Contact us today to schedule a consultation and begin pursuing your business goals. Let’s embark on this journey together.