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Setting up Business in Vung Tau

i would like to set up a business in vung tau like coffee or restaurant . anyone can advice me like the cost and the process ? i have friend in vietnam who wish to set up together with me.

Thank you.

Find a place. Register.  Pay the license tax. Get the tax rate and pay. Get the required documents such as food safety and Sanitation. Costs depend on how much you want to invest.

Daniel Tan :

i would like to set up a business in vung tau like coffee or restaurant . anyone can advice me like the cost and the process ? i have friend in vietnam who wish to set up together with me.

Thank you.

this is what i will do.
i will take my time and visit as many coffee houses and restaurants
go there at different time and day of the week
spend at least an hour or two, have breakfast , lunch or dinner.
talk to the staff you may learned something.
after you have satisfied yourself, the location and business is viable 
go ahead and invest.

And be careful. You do not say from which country you are a citizen. But you can not just start a business here if you are not a citizen. You must set up a business entity and show proof of $30,000 to invest here and it be on deposit in a bank. My suggestion is to consult with an attorney ( I can give you the name of a very good English speaking one) and a good accountant here. If you are here on a tourist visa you are not allowed to work. You could in theory have a business and not work in it. But I know one who tried that and got caught.
And I would add it is very easy to find friends here who want you to invest in a business....proceed with caution.

Just what Vung Tau needs, another coffee shop.

I really would do some research first.

competition is always welcome.

Come check things out before losing your hard earned cash.

I am confused by one comment. At first you said that a foreign person cannot start a business in VN but go on to say that you will need $30,000 USD. Please clarify . Thank you.

Basically means you cant start a business in your own name, it must be in a VN name and you will need to make a company in that persons name. You can go down the 100% foreign owned route, but I think you need to submit a business and financial plan plus a certain amount of funds in a bank account.

https://www.healyconsultants.com/vietna … setup-llc/

Vagabondone :

You must set up a business entity and show proof of $30,000 to invest here and it be on deposit in a bank.

colinoscapee :

Basically means you cant start a business in your own name, it must be in a VN name and you will need to make a company in that persons name. You can go down the 100% foreign owned route, but I think you need to submit a business and financial plan plus a certain amount of funds in a bank account.

Depends on the business, the amount can be very high.  My niece's partner opened a medical clinic in his company's name (same as his name, as he's the sole owner) and he had to have the equivalence of US$200K in a bank account before he could apply for a business license.  This was 5+ years ago.

Last year, at the time the license was renewed, he had to show the proof of finance again.

I now sell a working cafe in Vung Tau, there are also 2 rooms for living.
To whom it is interesting - write, I will tell details

A wise person would seek legal counsel on setting up a business here before the dreams get to far down the road.

spend money and time on a lawyer, then for translating documents, then for registering a business ... I made it easier - I rented a room for rent and registered a contract with a notary. Quietly working the fifth month and no extra costs :)

Yupper, try to fly under the radar. Then you get caught and your investment goes up is smoke. There is an adage in business..... if you can not afford to do it right, don’t do it.

Vadim 1 :

I now sell a working cafe in Vung Tau, there are also 2 rooms for living.
To whom it is interesting - write, I will tell details

Let me guess, its the Belarus cafe on Phan Chu Trinh that never has any customers in it. I bet it's going real cheap.

you're right it's on Phan Chu Trin. Customers are enough for a young business and certainly not less than most bars on this street  ;)

colinoscapee :

Let me guess, its the Belarus cafe on Phan Chu Trinh that never has any customers in it. I bet it's going real cheap.

Vadim 1 :

you're right it's on Phan Chu Trin. Customers are enough for a young business and certainly not less than most bars on this street  ;)

There are many cafes on Phan Chu Trinh that hardly ever have any customers so "not less than most bars on this street" isn't what I would call bragging rights.  Many of them rent their upstairs rooms by the hour and allow motorbikes to park on/in their properties for extra money.

Even Belly's, in the more airy location, with every sport match on cable, pretty decent food (the AM cook is the best in the area), friendly and helpful staff, and a good reputation amongst local charities, has much fewer customers now.  If Belly's can't pull in a full house, I don't see how a new cafe in the same area can survive.

Our cafe does not suffer from the lack of orders from Russian residents of Vung Tau. Also we already have enough regular customers from other countries, because we have tasty and inexpensive food. Now most of these clients spend their holidays in their cities. I think this is a good result, because the cafe works only a few months and has never given a loss. And the reason for the sale is not the lack of customers in our hall. The reason for selling a personal one, which requires the return to their homeland.
This is a very good and promising street on it can survive a good cafe where there will be something unique and interesting for the Vietnamese. And it's hard in the first place where there are a lot of bars and they are all the same. All the same this city is for Vietnamese tourism. We understand this, but we need to leave ...

Do not know why, but I think I have heard this story before. Great money making business for sale, emergency in family requires me to sell fast. Hope you make it home soon and safely. If all else fails just leave the business and go.

I think you need at least 10,000 USD as investment capital, which would be paid for location, staff and other concerns in the first 3 months  ;)

I did not write about the excellent money;) I wrote that the business is working)) and what money the new owner does not know anyone =)))))
and I agree with you if all is well, then the reason for the sale looks questionable ... but more important than business can only be the family and its needs, and we are located 9000 km from it. unfortunately the business that we left in our homeland requires our presence ...
and to a person who is important to buy a good place and realize his plan, it will not matter where the previous owner went. Anyway, he will re-do everything under his strategy.
Thank you for your kind words.)

Vadim 1 :

Our cafe does not suffer from the lack of orders from Russian residents of Vung Tau. Also we already have enough regular customers from other countries, because we have tasty and inexpensive food. Now most of these clients spend their holidays in their cities. I think this is a good result, because the cafe works only a few months and has never given a loss. And the reason for the sale is not the lack of customers in our hall. The reason for selling a personal one, which requires the return to their homeland.
This is a very good and promising street on it can survive a good cafe where there will be something unique and interesting for the Vietnamese. And it's hard in the first place where there are a lot of bars and they are all the same. All the same this city is for Vietnamese tourism. We understand this, but we need to leave ...

It's on Phanh Chu Trinh street, is that correct?

I live just up the road and ride past it every day, your customers must be visiting at odd hours for me to never see them.
I have heard your food is good, but I doubt its a saleable business.

we have delivery.
Still, the work depends on the owner. Even when the chef changes, the cafe changes. when there will be a new cafe, the attendance of our cafe, our delivery, and the taste of our food will no longer make any sense.
But for what really helps the new owner - we did our best. This is a good reputation, it is a clean beautiful new interior, new appliances, new dishes, repair and correction of all defects, repair of air conditioners, etc., something that may require unnecessary expenses. Even new mattresses and pillows ..
and buy or not to buy from us everyone decides =))))

Of course you have the business receipts, P&l reports and records for taxes paid for the last many years?

So it sounds like it would not be sold as a going concern. That is not doing the same business you are now. So what multiple are you applying as a fixtures only business. And by chance if you are selling as a going concern what multiple?

Just what Vung Tau needs, another coffee shop.

I really would do some research first.

Agreed.  Some basic market research would go a long way toward success.

My general feeling is that Vung Tau could use another 'proper' restaurant similar to Pizzeria David, Good Morning Vietnam, Matilda's,... but obviously with something other than Italian food. Actually, a place that offered Vietnamese food in a pleasant comfortable setting would be good, something like Co Ba but better.

Another idea is a speciality sandwich shop/delicatessen, which WTF could have been, along the lines of the Hungry Pig in Saigon. A choice of several types of bread, meats, cheeses, veggies, and condiments to make your own as well as unique signature sandwiches plus some healthy options like pita veggy, falafel, humus, fruit salad, muesli, etc,

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