Company Registration Cost In Vietnam
Vietnam has a population of about 99 million people, which along with its reasonable labour expenses makes it one of the key factors contributing to the nation’s attractiveness to business environments. However, while forming a company in Vietnam entrepreneurs must first think about the amount of capital needed to incorporate a firm.
Company registration cost in Vietnam depends on several elements, such as the business registration fee, office space costs, the price of submitting documents, getting registration certificates, depositing a minimum amount of capital, and so on. In general, a registration fee of VND 100,000 is required for businesses to be incorporated in Vietnam.
This article will provide a brief overview of how much it costs to register a company in Vietnam as well as an explanation of the elements that affect that cost.
Several variables influencing the company registration cost in Vietnam
Vietnam draws businesspeople from around the world because of its excellent infrastructure and affordable labour. However, before starting a company in Vietnam, the cost of establishing a business in the region must be taken into account by the entrepreneur.
This article’s section will provide an overview of the several variables influencing the company registration cost in Vietnam.
- The expense for acquiring the registration certificate of the firm can be around 100,000 VND.
- Publishing the materials of a foreign corporation establishing itself in Vietnam will charge about 100,000 VND.
- A business seal costs around 250,000 VND to 400,000 VND.
- Purchasing a digital signature for a duration of one year can be approximately 1,530,000 VND, and for three years, 2,300,000 VND.
- Charges for purchasing electronic invoices and generating invoices are about 850,000 VND.
Licenses and company registration cost in Vietnam
For incorporating a business in Vietnam, there is a registration cost of VND 100,000. However, while submitting an application for business registration, the applicant must provide a variety of documentation. The provided paperwork must be notarized and translated.
Once the business has been established, it must be registered with the appropriate administration in order to obtain a permit and an operating license.
This enrollment procedure is often conducted at the Provincial or City Office of Planning and Investment’s Business Registration Department by submitting a form. Every applicant must pay a charge of 100,000 VND for every application.
The expense for capital investment in Vietnam
One of the most important factors for company registration cost in Vietnam is to consider the initial investment of the business. When beginning a business in Vietnam, for some firms, the quantity of money that needs to be invested in the company must meet certain criteria.
Investors are required to meet these criteria during the incorporation process. Within 90 days after the commercial licenses are granted, this financial investment must be put into the organization.
In Vietnam, most entrepreneurs decide to launch their firms with a minimal capital commitment of 10,000 USD. The length of the entrepreneur’s visa, which allows them to stay in Vietnam, also will depend on the amount of their capital.
The possibility of receiving a long-term stay permit increases with capital. Meanwhile, the immigration department is more likely to resist a visa application when the capital is low.
Company registration cost in Vietnam for an office space
Having an official address is one of the fundamental prerequisites for opening a firm in Vietnam. An office address is distinct from a home address. It is achieved by providing a lease agreement that details the rationale behind registering a business.
The area and quality of the building, affect the company registration cost in Vietnam for office space. In the Ho Chi Minh area, the rental expenditure for office space can range from $12 to $70 per sq. meter.
Similarly, you should expect to pay between USD 30 and USD 40 per square meter for rental space in the Hanoi area, which is perhaps slightly less expensive than in Ho Chi Minh City.
Price of accounting services in Vietnam
Once a business is incorporated, it is its duty to provide the government with regular reports, be it on a monthly or quarterly basis. As a result, accounting services are essential for businesses.
The expenditure for accounting is another company registration cost in Vietnam that entrepreneurs must address while establishing a firm in the country. This is due to the necessity of, internal as well as external accounting, taxes, and reporting services.
Additionally, Vietnamese tax regulations vary significantly from those in other countries. You must be completely informed of certain laws and procedures in order for your company to run effectively and take fewer risks in the nation.
The typical monthly fee for these kinds of services will be between $100 and $250. However, the costs could vary as everything depends on the services you intend to use.
While establishing a business in any location business owners must first consider the cost of incorporating the business. Vietnam attracts entrepreneurs from all over the world because it offers low labor and living expenses. However, there are other costs that a business owner must take into account when establishing a company including those for getting a business license, accounting services, filing taxes, etc.
For more queries on company registration cost in Vietnam, get in touch with our business experts at Odint Consulting.
Yes, an international entrepreneur can establish a business in Vietnam. Moreover, the nation also permits 100% foreign ownership for several types of businesses.
The minimum capital need differs based on the kind of business you incorporate, however, a minimum of USD10,000 is required to incorporate a business in Vietnam.
Company registration cost in Vietnam depends on several elements such as the business registration fee, office space costs, the price of submitting documents, getting registration certificates, depositing a minimum amount of capital, and so on.
Vietnam attracts entrepreneurs from all over the world because it offers low labour and living expenses. Additionally, the nation has several Free Trade Agreements and double tax treaties that make Vietnam a favourable place to launch a company.