Starting small company in HCMC

I have just set up a new company. You can contact me and I will provide you with information about it.

With warm regards,
Uyen

Brianpool,

Vietnam is a socialist state; and its economy is a developing economy.  The way things work here are far from how they work in say, North America or Great Britain.  My suggestions to you are:

*  Don't go to an attorney, unless it is absolutely required.  They are not the same as the ones you see in the west.  But, for some reasons, they think that they are entitled to the similar fees.

*  Start as small as you possibly can.  Here, when people get into a traffic accident or get pulled over by a police, the value of their motorbike often determines the amount that they will have to pay.  Furthermore, once you are inside of the doors, expansion is easy.

*  Know the different types of business ownerships here (100% foreign-owned, joint venture, Vienamese-owned...).  They are critical in determining your fees, waiting periods, taxes...  at the start and well into the future.

*  Know your market.  Whether you sell your products or services here or abroad plays a significant role in the degree of difficulties you are going to face right of the bat.  If you are going to come in here and compete with the local companies for market shares, it will be tough to get clearance; you are going to get thrown loop after loop.  But, if you are just here to utilize the cheap labor or some of the more abundant resources, then they will even roll out the red carpet for you.

I hope this will help somewhat.

Howie

Why dont you try working for a company in VN first and then establish your own one.
I think you should understand much about the market and law, it's not easy doing business here.
I agree with Wild_1 : Start as small as your need
In addition, try to find some partners... !

Thanks 'Wild" - very useful and helpful advice. The point about lawyers- I think I learned the hard way. I was charged 200 000 VND by a 'lawyer' for getting my passport notarized!

brianpool wrote:

Thanks 'Wild" - very useful and helpful advice. The point about lawyers- I think I learned the hard way. I was charged 200 000 VND by a 'lawyer' for getting my passport notarized!

That is actually a very decent price. You will have to search long and might need good connections to get such price again.

Such con artists... 

Let's just say that you need to get your visa extended.  There isn't a thing, nada, that an attorney can do that one of your local immigration officers can not do, if he or she wants to do it: like getting it processed quicker...  It is only a matter of you, somehow, get to know one of those immigration officers and ask him/her to help you with your things.  That is just the way things work here.

Howie

That is actually a very decent price.

l3ully, you are being sarcastic, right?  Or are you talking about the charges at the embassies?  OR did you too get ripped-off by a Vietnamese aspiring-ambulance-chaser? 

Have a look at the price and you, it's barely USD 10 for a notarization.
Notarization costs are actually based on fixed fees and values set by the government.
In the western world, it could be easy 10 times more than that.
A certified (not notarized) translation has already a common cost of at least USD 15 (per page and less than 300 words).

Yes, that is cheap.

There are, depended on purpose, also SET fees available for whole packages.

It that has been done for example marriage purpose, than it was pricey, as the notarization still needs to be translated AND certified. For marriages for example, you can take the package complete, all documents, including your CV .. for 350 000 VND.

It is very good price dear,  I am here in HCMC for doing biz as well.  I got many nice VN people.

Hi
Can someone assist me in setting up a small office in HCMC?
How to go about etc.
Much appreciated.
Good bye 👍✌

Hello F_OMAR_UAE.

I would suggest you to post an advert in the Business partners classifieds in Ho Chi Minh City section. It might help.

Thanks.

Karen

Hi,

My wife is a local. From what I understand. Only Vietnamese can set up business! Foreigners can only set up a representative office.

Unless you have a local that you can trust! Use that person name and register a business. The down side with the Vietnamese law its still with the old communist ideology..! Foreigners cant own anything thing here!

Cheers

That's not fully true Clement Chong!
Foreigners can own 100% as their own company subject to certain criteria of Vietnamese laws. Anyway, open company in some locals' name is convenient if you can trust them!

Clement Chong wrote:

Hi,

My wife is a local. From what I understand. Only Vietnamese can set up business! Foreigners can only set up a representative office.

Unless you have a local that you can trust! Use that person name and register a business. The down side with the Vietnamese law its still with the old communist ideology..! Foreigners cant own anything thing here!

Cheers

Thanks will do so

brianpool wrote:

Hi
I'm looking for any tips, suggestions about setting up a small company in Ho Chi Minh City.
I have talked with one local law firm (Viet Luat) and they are basically rip-off merchants. Any ideas?

pM me if you want to know initial steps to set up a company in vn and the legal issues. I'm working on it so I can help within my knowledge and experience.and FOC of course.

Well in this case I might need your advice on foreigners owning properties. I was told we cant any properties? It that so. When my wife bought a piece of land in Danang. I was ask to sign a document stating that I don't have any claims to do the pieces of land that my wife bought.

foreigner can own property in vn. however, foreigner can buy apartment, not house, bungalow,mansion or land. and it limit to the fist number. yes, you can buy is the answer and the number of property you can own is 1. you will have to reside in vn for 10 years, own a permanent card then you can buy. and you cant mortgage it too. government is consider to open the market for foreigner to own house but parliament still consider. not sure when they will implement it.
commit not to claim the land own by your wife? that's sound strang even though it is logical. you foreigner cant own land.maybe that's the reason that they ask you to sign the commitment. however, it is just a commitment. given the case that you divorce, court will decide the joinly assets of husband and wife or any assets that establish after the wedding. well, in that case, the land will half own by you.eventhough you commit that you wont claim on the land.

Thanks! Everyone are very helpful!

depands what kind of comany you want to setup, JV or 100% foreign owned? also depands on the kind of business you want to do.
check http://www.hepza.hochiminhcity.gov.vn/web/guest/home
they are responsible for all the industrial parks in hcmc.

Hi dear
         (1)   Can u guide me how can i start or set up a small super market in Ho Chi Minh vietnam
for this me need any local owner ship or not..
(2) what kind paper process for registration it.
(3) what is conditions for hiring employees
(4) what is system of taxe and fees
               Thank you

I am looking for a partner to open a small travel agency, but im also up for any idea. please let me know if you are interested in partnerships
I am currently work and live in Hanoi
Best regards

I want to have business partner to set up small company in HCMC. It is as same as services: Commercial,Legal consultant, Internal travel services...ect..

Any one is interested in that, Please contact with me : doviag @ yahoo.com.
Thank you

shahid saeed wrote:

Hi dear
         (1)   Can u guide me how can i start or set up a small super market in Ho Chi Minh vietnam
for this me need any local owner ship or not..
(2) what kind paper process for registration it.
(3) what is conditions for hiring employees
(4) what is system of taxe and fees

Whatever you try to do, the Vietnamese government wraps you up on a prison made of paper and forms.

You will require a VN partner, hopefully someone who is happy to get a couple of hundred dollars a year for being your company's president. This will make it easier to avoid permit hassles and leases, etc. You need a lawyer to handle the complications - I am not dumb and have registered 4 companies and still use a lawyer. They know who to pay the bribes to.

You can pay cash each day to employees or, do it properly and pay tax, health benefits, etc.

The government will calculate how much tax you owe them. You will need a VAT account as some suppliers only sell at wholesale discount if you have a VAT number.

hmd63 wrote:

I am looking for a partner to open a small travel agency, but im also up for any idea. please let me know if you are interested in partnerships. I am currently work and live in Hanoi

Travel is a poor business to be in. Airlines no longer pay commissions.

Check out the number of 'travel agents' in Ha Noi - and count the number called 'Sinh'. You have some very tough competition.

Start something that uses special skills you have.

I AM VIETNAMESE, I want to have FOREIGN business partner to set up small company in HCMC. It is as same as services: Commercial,Legal consultant, Internal travel services...ect..

Any one is interested in that, Please contact with me : doviag @ yahoo.com.
Thank you

doviag wrote:

I AM VIETNAMESE, I want to have FOREIGN business partner to set up small company in HCMC. It is as same as services: Commercial,Legal consultant, Internal travel services...ect..

Any one is interested in that, Please contact with me : doviag @ yahoo.com. Thank you

Why do you need a Foreigner? They have some magic potion you lack?

The reason Foreigners want VN partners is to get around all the hassles of registering a business. YOU have everything you likely need.

To be a 'legal consultant' means a 'lawyer' .

Because what are fields I want to do business, I also have enough legal abilities and professional degrees. The reason here I need FOREIGN PARTNER  is sharing capital. or I can work for them.

doviag wrote:

Because what are fields I want to do business, I also have enough legal abilities and professional degrees. The reason here I need FOREIGN PARTNER  is sharing capital. or I can work for them.

The rules require you certify the cash has been put in the company, what amounts are you looking at?

Hi!
You can find out more information about this law office "triminh law". Hope can help your problem. My company has worked with law firms that 2 times, ok

brianpool wrote:

Hi
I'm looking for any tips, suggestions about setting up a small company in Ho Chi Minh City.
I have talked with one local law firm (Viet Luat) and they are basically rip-off merchants. Any ideas?

What kind of business you would like to invest? Company or rep. office? And which major?

hi Hellen,

From legal perspective, I can help you with your business plan in cost-effective way. I am a business lawyer.
My number is ********* and my email address is **********. If you are free, we can sit down and discuss further.

Regards,

Rudy Bui

Hello ttivietnam,

Could you please have said offices registered in our directory section ( refer to the link below)

@ Rudy Bui

I would suggest that you do the same since proposing / promoting ones services is prohibited on the forum

> Ho Chi Minh City business directory

Please do the needful.

Thank you,
Gavind

Hi Gavind,

Sorry for that. I will respect the forum policy.

Thanks for the reminder.

Rudy Bui

Brian maybe I can direct you in the proper direction. I say if you have time on the weekend or during the week we can talk over a coffee.

I would to set a cafe business in HCMC using a Vietnamese to register as 'business household' during the initial period and covert it to a 2 persons limited liability enterprise at a later stage and participate in this venture via the purchase of a proportion of the company shares. Would that be feasible and like to hear any legal perspectives anybody can offer

Dear Melvyn,  I am a Singaporean too.  Been in Vietnam for a long long time.  Maybe you can send me an email with more details and I may be able to give you some pointers.  Email: ***********