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Essential services to start a new business in Vietnam

Hi there!

Im a Vietnamese American. I have been doing business in Vietnam for 5 years.

Vietnam offers plenty of investment opportunities though, it is still a developing country which has not gone beyond its limitation and incompleteness in everything. You may find quite a few things irrational and even suffer from cash lost for putting trust in wrong people. Thus I would like to recommend you some services you will need to get your business smoothly started in Vietnam.

Dont worry! I wont present either the most outstanding relevant companies with high-cost service fees to you or those with the cheapest rates resulting in lots of troubles with which you may have to deal owing to their lack of professionalism. I will introduce you to several companies of good repute but coming up with reasonable fees that my friend and I have used. Lets get started!

Get your business license
First, you need to get a License for operation. Although there a large number of licensing services which are low-priced, I believe that most of such services are not that professional. They are limited in English proficiency. They promise to get the license done in one month, but it may take up to two months. They come up with low-cost initial quotation to get your agreement in using their service, but then turn out to have additional fees incurred which drive you to pay more, etc. thats my first experience when hiring a law firm in Vietnam.

After my documents were bounced twice, I found such a credible law firm that I have been using their service until now. PLF LAW FIRM http://www.plf.vn/en/legal-services/sta … in-vietnam

Real estate for rent
Hiring and purchasing real estate in Vietnam is quite challenging, especially for foreigners.
Below are some of my experiences:
You may be forced to pay a higher price because it is thought that foreigners shall get to pay more.
You have no obligation to pay for the brokers. If the brokers find an appropriate property with a high level of satisfaction, they will be entitled to get the remuneration from the landlords.
When you become prosperous, you will do not want to leave the place where you are renting. Therefore, you should have an agreement on the terms which are committed not to increase the rent during the lease term, accompanied by a very high rate of compensation that the landlords will have to pay if they want to retrieve the working space.
You can find real estate for rent in the following link: http://batdongsan.com.vn/english
In short, you should not directly work with the landlord in Vietnam. You can ask a law firm to represent and negotiate the rent when you have selected a nice location.

Hire your team
This is the number one recruiting website in Vietnam for all areas, which comes up with a large number of candidates with best quality and reasonable cost. If you are unable to find the best candidates in this website, you wont be able to get them from other recruiting websites. http://www.vietnamworks.com/

However, if you are looking for personnel in IT industry, please visit https://itviec.com/

Hosting, Domain, Email server
You can purchase a domain name anywhere in the world, but if you wish to have Vietnamese to program your website, you should choose a provider of domain name in Vietnam due to the fact that very few programmers are fluent in English. https://www.matbao.net/

Logo design, website
If you are up to design the brand identity and website together, Sao Kim can be recommended to a full package for this service. You can ask them to design logos, business cards, letterhead, website, brochures, uniforms, etc.  and many other products. For more details:
http://www.saokim.com.vn/english/

Office interior design
If you want to design an inspirational office, please contact
http://www.solidinterior.vn/

Internet & Phone service
There are 3 main service providers in Vietnam:  VNPT, FPT and Viettel.  All of them are equal in price and quality. However, Viettel has gained the best customer service with faster processing time and well-mannered staff.
http://international.viettel.vn/

Computers (PCs, Printers, routers, Software, etc.)
Be very careful when buying electronic goods in Vietnam. Since there are so many fake products being smuggled from China at a much cheaper price, I recommend that you should only buy at Phong Vu, or the stores which are specified by the genuine manufacturers on their official website.

E.g. if you want to buy Xerox printer, please google them  "Xerox shop in Vietnam"
http://phongvu.vn/

Business consulting
If you need advice for your business strategy, please contact Mr. Do Hoa, who has 10 - year experience in working for Shell Global  an oil group.

Although the website is not conducted in English, feel free to contact
Tel: (84 8) 38 212 402
http://www.tinhhoaquantri.com/

Bank
Vietcombank is the largest commercial bank in Vietnam. Almost all businesses possess trading accounts in Vietcombank
http://www.vietcombank.com.vn/

Did I miss any services? Please comment below, I'll update you soon.

All Hail..!!!

Thank you!   ..for a comprehensive (complete?) list.
This is exactly the stuff we need to know.

The best effort I have seen here so far.       :top:

Bazza139 :

All Hail..!!!

Thank you!   ..for a comprehensive (complete?) list.
This is exactly the stuff we need to know.

The best effort I have seen here so far.       :top:

Only a matter of time before it is moderated.   :whistle:

"Only a matter of time before it is moderated.   :whistle:

..too late!    It's on my desktop...   ..and available to all who ask...   

   We have our ways to modify moderators          :idontagree:

Hello everyone,

Thank you haileenguyen for sharing these valuable information.  :thanks:

The post will not be moderated. It would have been if post #1 was an advert or if the poster was proposing his own services on the forum, which is not the case here.

Should we now proceed by adding more relevant content to this thread please ?

- Essential services to start a new business in Vietnam

"Did I miss any services? Please comment below, I'll update you soon."

All the best,
Bhavna

How about corruption? How to you handle the official who says the approval needs a special review by his boss that will take 3 months? The building inspector who gives ridiculous requirements but "knows someone" who can get it pushed through? The policemen who show up every few weeks wanting protection money? Your lawyer will tell you that you won't have to pay bribes, but then will tell you it will save some time, that is just normal here.

No rule of law, no consumer protection, no courts to protect small individuals, corruption from the bottom to the top, kills my appetite to start a business here.

Hi haileenguyen,


This is a great effort to collect info and write into the post. I have no doubt about this.

I just have few concerns/feedbacks:

1) The companies you mentioned, do they pay you referral fee here?
They should really pay you if you find Clients for them.

2) "When you become prosperous, you will do not want to leave the place where you are renting"
=> I don't agree with this.
I'm not a foreigner, but when I become prosperous, I want to leave the place I'm renting to move to a better place.
(And lazada Vietnam moved at least one time to a better place).

But I understand your point is to make sure with owner not increase the price.


3) "If you are unable to find the best candidates in this website, you wont be able to get them from other recruiting websites. http://www.vietnamworks.com/"

=> this sounds very biased.


4) " if you wish to have Vietnamese to program your website, you should choose a provider of domain name in Vietnam due to the fact that very few programmers are fluent in English"

=> This is new for me, I thought that languages on website depend on coding of the programers and not domain name.

5) Banks: depend on the company's purpose, if the company need to do more international transfer, they may want to select an international bank rather than Vietcombank.

Yeah the constant ask for money from officials is a big worry in VN, that's why MGM left here.

Hi Gobot,

Saddened to hear about corruption.

I am actually planning to start a small restaueant business in Mui Ne & planning a visit to Vietnam in Nov 1st week to find out more details.

But reading ur posts puts me in doubt whether I should really start a business in Vietnam, will it be worth.

moksh_5ap1 :

Hi Gobot,

Saddened to hear about corruption.

I am actually planning to start a small restaueant business in Mui Ne & planning a visit to Vietnam in Nov 1st week to find out more details.

But reading ur posts puts me in doubt whether I should really start a business in Vietnam, will it be worth.

An outfit called Transparency International publishes a Corruptions Perception Index every year.  In 2015 Vietnam's score was 31 but your country of India was not a lot better, scoring 38.  People who live in glass houses....................

http://www.transparency.org/cpi2015#results-table

haileenguyen :

Hi there!
You can find real estate for rent in the following link: http://batdongsan.com.vn/english
In short, you should not directly work with the landlord in Vietnam. You can ask a law firm to represent and negotiate the rent when you have selected a nice location.

Hiring a law firm to negotiate rent is excessive, even for a multinational.  Is this another plug for one of your "recommendations"?

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