Vietnam Company Formation

Vietnam company formation is challenging for foreign investors because of complex licensing procedures. That said, economic reforms are attracting foreign, export-orientated manufacturing industries. Healy Consultants offers a complete Vietnam company formation service. The following information will help you determine whether Vietnam company formation is the optimum corporate structure to fulfill your international business objectives:
Advantages of Vietnam Company Formation
1.	Vietnam company formation assists our clients to legitimately conduct business in Vietnam with 100% foreign ownership. For more information, visit our Vietnam 100% foreign-owned company page.
2.	A Vietnam Joint Venture is an excellent way for foreign investors to gain ready access to local markets. For more information, visit our Vietnam Joint Venture page.
3.	A representative office is a cost-effective way for global companies to create a market presence in Vietnam. For more information, visit our Vietnam Representative Office page.
4.	Vietnam joined the World Trade Organisation (WTO) in January 2007, obliging it to reform its legal system, strengthen intellectual property rights protection and lift trade barriers.
5.	Vietnam company formation requires a minimum of one director, who need not be resident in Vietnam.
6.	There are no minimum capital requirements with Vietnam company formation.
7.	Following Vietnam company formation, Healy Consultants can open a corporate bank account with one of the world's leading retail banks, including HSBC, Standard Chartered and Citibank.
8.	Healy Consultants can obtain residence visas for foreign employees following Vietnam company formation.
Disadvantages of Vietnam Company Formation
1.	All Vietnamese companies, with the exception of a representative office, pay corporation tax of 28%. Following Vietnam company formation, all foreign-invested companies are required to submit annual audited financial statements.
2.	Vietnam company formation is complex, and this is reflected in Vietnam's low ranking of 91st According to the World Bank's Doing Business 2008 Survey. The survey measures factors including business start up procedures, time, cost and minimum capital required to start a business.
3.	Vietnam is negatively ranked as the world's 135th freest economy in the Heritage Organisation’s 2008 Index of Economic Freedom, a measure of freedom enjoyed in business, trade, monetary, financial, investment and labour markets.
4.	Examples of the challenges of Vietnam company formation include i) to obtain a Vietnam branch office license, the foreign company must have been in operation for three years ii) all foreign documents must be translated into Vietnamese and notarised by a Vietnamese state notary or Vietnamese embassy or consulate. For more information, visit our Branch Office page.
5.	Vietnam suffers from a poor international business reputation. For example, Vietnam is negatively perceived as the world's 123rd least corrupt country in the 2007 Corruption Perceptions Index by Transparency Internationa, a global measure of corruption amongst public officials and politicians.
6.	A minimum of two shareholders is required with Vietnam company formation.
7.	Vietnam is negatively ranked 68th by the Global Competitiveness Report, one of the world’s most comprehensive and respected assessment of countries’ competitiveness, offering invaluable insights into the policies, institutions, and factors driving productivity.
Other Information
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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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