ANT Law

Forms of  Setting up company in Vietnam According the Vietnam Law on Enterprises, there are four common types of companies: -Private enterprise -Partnership -Joint stock company -Limited liability company - Private enterprise  is a business run by a single person who is responsible for all of its operations and owns all of its assets; -P artnership  is an organization in which (i) at least two partners co-own the business and operate jointly under a single name; There may be limited partners in addition to general partners; ii) A partnership's general partners must be individuals who are fully responsible for the partnership's obligations with their entire property: iii) Limited partners are only responsible for the partnership's debts up to the amount of their capital contribution; - Joint stock company  is an enterprise where i) Its contract capital is partitioned into equivalent bits known as shares; ( ii) Shareholders may be individuals or organizations; the base...

What Are the Advantage of Foreign Investors in Setting up Business in Vietnam in 2023? Located in an important position of Southeast Asia, Vietnam has a long coastline of more than 3,000 km. With a diverse geographical structure interspersed with mountainous, highland and coastal areas suitable for general economic zones, Vietnam has ideal conditions to develop the trade and tourism industries. When  setting up business in Vietnam , investors can enjoy financial advantage such as corporate income tax, import and export tax and land finance incentives. Incentives on corporate income tax: In recent years, Vietnam has gradually reduced the corporate tax rate (CIT). In the 2004-2008 period, CIT was 28%, in the 2009-2013 period it was 25%, from 2014 to 2015, 22% and from January 1, 2016 until now, 20%. In addition, the provision of high corporate income tax incentives for a number of key fields that need to be encouraged for investment has contributed to attracting investment, enc...

Ho Chi Minh City is considered as Vietnam’s economic hub. During the long history of foundation and development, the city’s economy is growing constantly and motivating the development of the country. Setting up company in Vietnam The city is therefore considered as a potential investment environment for domestic investors as well as foreign investors. The investment through establishing companies and conducting business activities in Ho Chi Minh city certainly promises to achieve multiple benefits. These benefits come from the following reasons. First, Ho Chi Minh City has strategic location advantage in Vietnam. Southeast Asia Region, Ho Chi Minh City is 1,700 km south of Hanoi, 297 km east of Phnom Penh, Cambodia, 881 km east of Bangkok, Thailand. Food, glass, textiles, paper products, plastics, chemicals, building materials and machinery are produced here. Ho Chi Minh City accounts for 20% of total gross domestic product (GDP), 30% of industrial production and 40% of export...

How to Set-up Travel Services Business in Vietnam? Foreign investor could only set-up joint venture with Vietnam travel agency to  set-up travel services business in Vietnam  because transport of passenger belongs to investment areas with conditions applied to foreign investor in Vietnam. 10 Questions to Ask Before  Setting up Company in Vietnam ? No one could deny that information technology has tremendously changed the way travel services business operates. The use of booking reservation system application on smartphone and internet are widespread that make travel has never been easier.  Foreign investor would be interested to explore the travel services market. However, 100% foreign owned company is not allowed to set-up travel services business in Vietnam. As this investment area is conditional, it is advised that a  law firm in Vietnam  should be consulted to ensure compliance with local regulations. The application process and documents requi...

How to Set Up Company in Hanoi? The Law on investment 2021 has a lot of investment incentive policies in economic sectors in Vietnam for foreign investors. Foreign investors that invest in Vietnam in general and Hanoi in particular for the first time must have investment projects and fill in investment registration or examination procedures at state agencies in charge of investment in order to be granted Investment Registration Certificates (“IRC”) and Enterprise Registration Certificate (“ERC”). Company with 100% foreign capital has founded and operated from the date of issuance of the investment certificate. The investor who wishes to apply for IRC in Hanoi, s/he need to have a possible project which is accepted by the Government (The Department of Planning and Investment of Hanoi City). The dossier on applying for IRC For Investment Registration Certificate, the investor must prepare the dossier included: i) An application form for execution of the investment project, in...

Da Nang has been creating flexible policies, good environments attracting foreign investors  setting up company , building factory, and developing service business. Setting up Business in Da Nang Da Nang is a social and economic center of central area of Vietnam with the role as the center of industry, trade and tourism and service. It is a seaport city, an important transport hub for the transit of domestic and international transportation. Presently, Da Nang has been rising as a comprehensive and sustainability developing city. With the advantages of geographical location, people and nature, the leader of Da Nang is planning to build the city becoming a major tourist center of the country, developing tourism industry with entertainment centers and luxury resorts in Vietnam. In practice, Da Nang has been reducing administrative procedures, creating favorable conditions for investors in obtaining certificate for investment. In the meantime...

How to Close a Business in Vietnam? All corporations, companies, partnerships,  branch offices , representative offices and other business entities are legal entities in Vietnam which can only be dissolved through formal procedures. I. What are the major challenges with  closing a business in Vietnam ? The main thing to remember throughout the process is that the dissolving company, a branch office or a representative office, one  should pay close attention to the involvement of all key stakeholders, i.e. the employees, customers, creditors, business partners and relevant authorities. The following are key information to gather for thorough analysis -Company size in terms of capital and number of employees? -Enterprise’s business sector? -Tax invoice usage declaration? -Annual profit? -Compliance with tax procedures? -Administrative violations in the field of taxation? -Any outstanding tax? -Tax document filing records? -Other tax matters?...

Conditions of Setting up Import and Export Company in Vietnam If a foreign-invested company wishes to apply for export/import or distribution rights, it has to submit the below listed documentation to the competent authorities: 1. Export/Import rights: The foreign investors who invest to exercise right to export, right to import must follow procedures for grant of investment certificates; the foreign-invested enterprises in Vietnam which supplement the operational business activities for exercise of right to export, right to import must follow procedures for adjustment of investment certificates: a. Dossier of verification for grant or adjustment of investment certificate as prescribed by law on investment; b. A written explanation about the satisfaction of conditions in exercise of goods trading and directly related activities; c. Documents proving the financial capability and experiences of investor in exercise of right to export and right to imp...