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Singaporeans and Setting up 100% owned Foreign Businesses

Hey guys,

I'm a Singaporean moving to HCMC early 2017 to set up a foreign owned business. Been in talks with several consultants and man does it look like it is going to be a rough ride to set up a foreign owned business in HCMC.

Anyway, any Singaporeans around here? Would be great to hear what you guys are doing in Vietnam, which district you recommend staying to get some peace etc etc. Eventually we could have a meet up/ lim kopi..

Of course this isn't limited to just Singaporeans, anyone is welcome to chip in on which district you'd recommend staying in that is quiet (by HCMC's standards) and yet not too far off from the city.

Have a great weekend guys.

District 2 and district 7 are usually where the expats lives. I prefer living in District 3 tho.  Close to district 1 and other districts. Its a lot cheaper and quiet.

Thao Dien-D2 and Phu My Hung-D7 are the quietest areas by far

Hello Ghia and colinoscapee - thanks for the advice. I'll def look into those areas.

Keep 'em coming! Also, does anyone have any good business consultants/ lawyers/ accountants to recommend that can help with issues of compliance with the incorporation of a 100% Foreign Owned Biz in SaiGon? I am in touch with a few but always open to more options.

villanova :

Hello Ghia and colinoscapee - thanks for the advice. I'll def look into those areas.

Keep 'em coming! Also, does anyone have any good business consultants/ lawyers/ accountants to recommend that can help with issues of compliance with the incorporation of a 100% Foreign Owned Biz in SaiGon? I am in touch with a few but always open to more options.

Hi villanova,

I have been working in an law firm which mainly makes procedures for establishment of FOC. ***

Regards,
Hieu

Moderated by kenjee 11 months ago
Reason : Please do not share personal contact infos on the public forum!

It took me 5 months to set up a 100% foreign investor business. It could have been done in 3 months I think.
Just one thing to know: if you work with non-local lawyers, it's more expensive and they will just work with local lawyers haha.
You can find reliable local lawyers but not all can speak English well.
I paid for example 2000 USD to set up my company with local lawyers. It would have been at least 5000 USD with foreign lawyers.
And after, depending on your business, you will have to inject a certain amount of money.

Hi there,

I am going to HCM early 2017 to work too. I would be living in Somerset Vista, DIstrict 2. It is where most Expats lives i believe. Quieter. You may consider living there. We can lim kopi when we are there!

hi tranus, good to hear from you. i've gotten quotes from ranging from 5K USD to 30K USD from different consultancies. if you have any good ones to introduce i'd be more than happy to hear from you. i do want them to be working with local lawyers actually, i'm hoping the local lawyers understand their local laws better than a foreign accountant/ lawyer would.
what kinda business are you doing tranus? were you living in HCMC for that 5 months? what government bodies did you have to deal with and how was the experience?

in addition to the department of planning and investment and the tax department, i'm going to have to be dealing with the ministry of science and technology because the products my company deals with has radioactive properties. i am prepared for a rough ride. the more authorities to deal with = the more grief one has to go through. c'est la vie!

great! not your first time there i take it?

sure, i'll be in touch with you! probably moving over after tet.

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