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Can foreigners register a business in Vietnam

Hi everyone

I am foreigner and had married a Vietnamese woman.  I had built a business under her name as the Vietnam Law at that time do not allow foreigners to register a business.  My wife is now filing for a divorce through the court here and wants take the business, properties and children.  I am now exploring the possibility of starting a business again but this time under my own name rather than under anyone else's name.  I know that the Vietnam Law has changed but not sure if foreigner can now register a business.  The information from the government websites are not clear and address mainly to Viet Kieus.  They do not address specifically about foreigners registering a business.

Any recommendation of a lawyer on this aspect would also be very helpful.

What a  Sad ( SITUATION )

Not the first time i hear this type of DRAMA!!!

TERRIBLE!!!

GOOD LUCK

I'm not a lawyer but I had advice on this.  If you have  US$300,000 to spare you can register a foreign owned company, otherwise you're stuck with 49% for you and 51% for a Vietnamese partner/s.

There are companies that will provide the partners for you and charge you a fee (around $1200 a year for the partner and another $1200 a year for the accountant they provide). There was an upfront fee of around $2,500 if I remember correctly.

Hope this helps and good luck.

Thanks for the info.  Looks like I have to partner with someone.  But any experience as to whether these partners are reliable or they will end up giving you problems as well.  I do not want to jump from the frying pan into the fire.

Yes, you can.
There are 2 ways:
- Register a business under your own name as 100% investment from not-Vietnam citizen. The registration duration is about 45 - 60 days (or less for me) and you have to wait until you have business license to start business. You have only one license containing all information.
- Open a corporation or JS company with Vietnam citizen. The company establishing registration duration is about 10 days (or less) and you can launch your business right after the corporation/JS established. However, you have to do one more step is to register for investment license which takes about 45 - 60 days more to finish in order to withdraw your share or you won't be able to do that with only company establishment registration. You'll have 2 papers to keep.

The investment depends on business section you want to register. With these, you can have 1 years visa.

http://www.vietnam-immigration.org.vn/n … igners.htm

You can contact me for any further information.

Thanks for the info.

What is the investment required if it is a trading company in industrial products under my own name?

Use a HS registration with a VNese partner who hasn't the least bit of interest on the business. Pay them $200 or so a year to keep in touch. (For paperwork).

If you ever involve a best friend/wife/etc ALWAYS GET A WATERTIGHT PARTNERSHIP AGREEMENT DRAWN UP.

Even if your wife divorces you, you are entitled to you money you put in before marriage and 50% thereafter. Business split is as per ownership interest.

I also keep my funds overseas!

Thanks for the advice.

Excuse my ignorance, but what is a HS registration?

Each type/class of product that you intend to trade is assigned something called a "HS Code". This determines the amount of duties that you'll need to pay on them. You can look it up: https://www.dfat.gov.au/fta/aanzfta/annexes/aanzfta_annex1_vietnam_tariffschedule.pdf At the moment, I would be more concerned about actually getting the business up and running. Perhaps Jaitch is referring to a CPC registration? This is basically the "code" for the line of business in which you intend to operate. Among other things, it will let you know whether you can own the business alone (as a 100% foreign-owned company) or whether you must partner up with a Vietnamese partner (joint stock). Drop me message if you need any help.

Well, sorry to hear about that. Actually the business could be under Vietnamese name or under other name as long as they have mutual agreement documentation. It s still valid. If your wife reject to transfer the name for you, it was very unfortunately to say that you lost the business.

To register 100% under your name, yes you must submit business and financial plan proposal to government and WAIT till get approved. Some of criterias including how much is your initial investment, because gov must make sure you have a strong financial fundamental to step inside the market. For a small business, I sugest you just find a local to hold a name as a shareholder 49/51 or 50/50 together with one more agreement paper attached to prove that you are shareholder or this business is under your name. Because under Vietnamese law, foreigners cannot register for a small business, but CAN BUY a business. Hope it might help!

Hi MegaMettle,

I am sorry to hear that.
You can register the company under your own name. I can arrange a meeting for you with my experienced lawyer partner and give you free consulting before you decide the next steps. Plz feel free to contact me if you need any further information.

Oh, you do not know why he is getting divorced. Sounds like you just assume it is the vietnamese girls fault. My general  experience of expats is that they are the most self interested people you will ever meet and carry the delusion that they are 'giving something; to the host country. Most vietnamese girls experience of romance with foreigners is disappointment, pathologically lied to - all the while dating some slob 20 years older! A few exceptions of course..

philip983 :

Oh, you do not know why he is getting divorced. Sounds like you just assume it is the vietnamese girls fault. My general  experience of expats is that they are the most self interested people you will ever meet and carry the delusion that they are 'giving something; to the host country. Most vietnamese girls experience of romance with foreigners is disappointment, pathologically lied to - all the while dating some slob 20 years older! A few exceptions of course..

Great generalisation based little on reality. Obviously a man of little experience  or knowledge.

Self interested? Delusional? Pathological liars? Slobs 20 years older?

Ever heard of the Chinese proverb: "Point a finger at someone and three point back at you"? What you are saying says much more about you than other people.

I know a 'mixed' family where the VNese wife tragically died young leaving her Foreigner husband and three children as survivors. The dead woman's family offered unlimited support, and continue to do so, and the "self-interested, delusional, pathological liar" of a widower struggled to bring the children up in their late Mother's tradition. He also took Vietnamese citizenship so he couldn't be separated from his children.

Now, some eleven years later, his children have matured in to teenagers and the bond between them, their Father and the maternal family continues. He has never remarried, even though his extended Vietnamese family encouraged him to do so.

This is your "self-interested, delusional, pathological liar"?

I know several other older 'mixed' couples who are still happily together, in VietNam, in retirement.

As for the delusion that they are 'giving something' to the host country, my company employs over thirty females and my wife's (joint owned) hotels employ another eleven. All are paid well above the going rate, have all benefits paid by us and we also finance a visit by a dentist from HCM once every six months. Each and every month we pay taxes on the first business day of the month - well before they have calculated how much we owe. You will find that the tax authorities in most provinces like dealing with Foreigners as they pay on time and don't try to 'cook the books' too much.

The companies are run in accordance with Canadian practice as well as Vietnamese law.

I have two small enterprises in HCM as well as farming out assembly work to home-bound workers.

These endeavors do benefit the country and could be called 'giving something' to the host country. I, and my partners, provide instruction to local pupils at no cost, and we volunteer to help the minority groups where we live.

Vietnamese females are very non-discriminatory when it comes to age differentials regardless of the relationship.

So, I suggest you take your bitter, twisted, opinions back to England, I can't understand why you remain here - the Vietnamese are little different to any other culture other than their driving skills.

P.S. I wonder where in VN you live, or who you live with.

100% Foreign Owned Enterprise in the form of a Single Member LLC. "There is usually no minimum capital requirement for foreign investors that intend to establish an LLC in Vietnam."

http://www.vietnam-briefing.com/news/se … etnam.html

http://www.acc.com/legalresources/quick … /eaeiv.cfm

Ms Hannah Le

Thank you for your offer to help.  I am still trying to get a grip on things and will contact with you when the time is right.

In the meantime, thanks to all for your comments.  In response to Jaitch, I think Ms Hannah is sorry not for me but the situation because she does not know the circumstances.  In any case, I believe that all of us has reasons for arriving at the situation we end up in.  It is difficult to generalize as the circumstances and the background are different in every situation.  I had started this thread to seek for advise and assistance, and not to gather support to say that I am  the "good guy".  There is then the point that there is many Vietnamese girls who are "good" and also many Vietnamese girls that are "bad".  But this also applies to any girls of any nationality.  Foreigners too.  There are many foreign men who are "good" and many foreign man who are "bad"; not "a few exceptions.....".  This applies to Vietnamese man too.  We are all adults.  The time when we can clearly say something is good" or "bad" as kids is over.  As we get older, "good" and "bad" becomes very subjective.  Generalizing may then become inappropriate.

In any case, I want to thank everyone for their comments and I will take note of all that is said.

Hi Jaitch. I only just say YOUR reply. I actually said MOST men and I actually defended Vietnamese girls who have relationships with foreigners. On many a blog here, MANY foreigners have said TERRIBLE things about vietnamese women, basically saying they are ALL money grabbing liars. Fair play to the foreign men YOU know who have had good and long term relationships with vietnamese women. If. on reading my reply, you still think I should sod off back to England then you can sod off too! BTW, I am a qualified teacher (the degree and teaching qualification). Anyway, good luck to you!

Take consideration to share business with wife, girlfriends...business is business and let emotion be a separate part....Get help from lawyers in Vietnam and they could assist to advise best business structure, ownership and others. Cheers, Jenny

The laws in Viet Nam are very weak and even weaker when it comes to a foreigner. Dont invest what you cant afford to lose.

This thread is too old  :)
jennyphamau1111 will be the top poster of the day!
Yeah, even Vietnamese thinking about closing business here because of complicated red tapes.

colinoscapee :

The laws in Viet Nam are very weak and even weaker when it comes to a foreigner. Dont invest what you cant afford to lose.

charmavietnam :

This thread is too old  :)
jennyphamau1111 will be the top poster of the day!
Yeah, even Vietnamese thinking about closing business here because of complicated red tapes.

colinoscapee :

The laws in Viet Nam are very weak and even weaker when it comes to a foreigner. Dont invest what you cant afford to lose.

Top poster for suggesting to see a VN lawyer????.
Complicated red tape?? Tell me why then, when there are already several businesses doing the same type of business in the same street, that yet ANOTHER business doing EXACTLY the same will also open????,  I've just seen the same thing happen here in the last 3 months with restaurants, and 2 of them had already gone bust in that time.

wow this thread got me thinking. I wanted to come into Vietnam to do business but am not sure any sure anymore. I am thankful for all  contribution. Olawale

Hello, I have the same question whether a foreigner can apply a 100% foreign-owned company in Hochiminh, if you already have that experience, hope you can help me. Thank you so much.

Sophie in HCM :

Hello, I have the same question whether a foreigner can apply a 100% foreign-owned company in Hochiminh, if you already have that experience, hope you can help me. Thank you so much.

Yes you can, I did it 1.5 years ago.
It's a 100% foreign investor LLC (limited liability company).
Depending on your business field, you'll have to inject a certain amount of capital. From what I heard, between 5000 usd and 100 000 usd.
I can recommend you a reliable vietnamese lawyer who works with a lot of foreigners.

Moderated by Christine last week
Reason : off topic + please post useful information on the forum

thanks for this kind of info

Moderated by kenjee 5 days ago
Reason : Off topic. Drop advert only in Classifieds section.
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