Starting a new business in Vietnam is time-consuming and costly, said a recent report released by the International Finance Corporation and the World Bank.
According to the report, it would take an investor only three days to complete two business procedures, costing about 0.9 percent of the annual income per capital in Canada and it is almost the same in Australia.
Meanwhile, registering a new business in Vietnam takes nearly 30 days to go through about nine formalities, costing roughly 50 percent of the annual income per capital.According to a recent survey conducted in the north, businesses must pay at least 13 visits to three kinds of state offices to complete their business licenses.
At the provincial level, the agencies, including departments of planning and investment, taxation and police are responsible for granting business licenses; but they do not effectively cooperate with each other.As a result, enterprises have to prepare many documents with overlapping content to different agencies.In addition, they cannot complete several formalities at the same time but have to go through a one-by-one process.
Although some localities are experimenting with online support for registration, most of the formalities are still dealt manually at relevant head offices.
Recommendations
Experts said it would set a good precedent to simplify business licenses if a ‘one-door’ model is applied for the three relevant offices.There should be a representative agency where enterprises can apply for permits and completing these permits is the internal responsibility of state offices.
Therefore, we are here to be the representative to assist you on all kinds of registration and the related matters for all types of businesses in Vietnam such as Representative Office registration, 100% foreign-owned company incorporation, joint-stock company formation…and etc.
Our aim is to make our service well-known worldwide and to provide you a reliable service!
Our services
- 100% local-owned companies new company incorporation formation and other related matters.
- 100% foreign-owned companies new company incorporation formation and other related matters.
- Representative Office Registration and other related matters.
- Joint Stock Companies.
- Tax registration.
- Trademark registration.
- Virtual Office Registration, assisting in sourcing for office facilities as well as virtue offices.
- Accommodations. (Hotel reservation, short/long term residential rental).
For enquires please contact our consultants agent at +84903189033 or via our email at: info@gbs.com.vn
Our Service Guideline
Because we understand that starting a new business in Vietnam is time-consuming and costly for many organizations, that is why we are here to assist entrepreneurs in setting up their business in Vietnam (HCMC). We work together with you as a partner to build up trust and reliability for that we will help you to reach out the ideal business destination!!
Have a question? Get in touch today
We can provide free qualified guidance to help get you started with your business needs.