Hi there.
I came to Vietnam for a holiday about 9 months ago. I really liked the country and am considering moving there. I met a girl in a bar in HCMC who seems very genuine and has offered to help me set up a business. My plan was to get qualified and teach English there while I see if it is going to work for me. While teaching I will explore options about purchasing or starting up a business, possibly a bar/ restaurant/cafe, Tourism based business, small factory, or export goods to my home country (Australia).
I'm sure this all sounds very familiar to the world weary expats out there, but I really would appreciate any information and advice on:
- What are profitable business prospects or investment opportunities in Vietnam?
- Can I trust a local to help me set up a business?
- Visa requirements/work permits
- Taxation, Legal and Government issues relating to setting up a business
- Any other inside info you think I should know or may find useful 
Thanks so much for your time, looking forward to your replies.
Best regards.
Damien.
Needing advice about moving to Vietnam
Good Damien, We can coopertation
There are ample of opportunities in Vietnam and even all part of the world. so if you like Vietnam food and the people come and live here awhile and teach English. Is a great idea. Get connected and down the road if business plan and idea come about then implement it. Like any part of the world ample opportunities and obstacles abound and need yourself to address.Think big and start slowly.
I think you should think carefully when you chose a person to help you set up your business. Before coming to VN to open a subsidiary company, my boss knew nothing about procedure and registration process, so another member of my company, a Vietnamese, helped him for all documents. My boss paid her a large amount of money . That is unbelievable amount. As information i get from HCMC Department of Planning and Investement, owners of enterprises dont have to pay so much money. Of course, to quickly get the Certificate of Investment, you have to pay law firm an amount to complete all procedure for you, but not too much. On the website of HCMC Department of Planning and Investment, there are English documents guiding how to open a foreign invested company. You can get useful information on that website.
For example, if you wanna open a restaurant, you should follow these steps:
1st step: Need to apply for the Business License for opening Restaurant.
Document need:
- Notarized Passport
- Criminal record (issued by the Police Department)
- the Leasing contract (the place that we lease for opening the restaurant)
- Bank account verification (from 5000 USD upward)
- Name of the restaurant.
Duration: 20 working days
Fees exclude VAT: 3.000$
2nd step: apply for the temporary resident:
- Business License for opening Restaurant
- Declaration of temporary residence in Vietnam
Duration: 15 working days
Fees exclude VAT: 1.300$
The information on legal process of registering a company is readily available.
However, the "invisible hands" behind the scene is the actual work.
One can have all required documents in hand but still unable to register. Especially as a foreign owned company.
The red tapes and bureaucracies are beyond writing in a forum here.
If you are serious in setting up a business, PM me, I will be able to assist.
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