Emerhub will assist you with post-incorporation registrations, licences, and applications in order to help your newly established company comply with Vietnamese laws. Contact us now to get a quote and arrange a meeting with us to discuss your company’s needs.
Licences
Obtaining investment licences is an important part of doing business in Vietnam and all licences should be obtained prior to proceeding work in a specific area of activity. However, in order to speed up the process of incorporation most companies obtain licences for only the main areas of activities and apply for additional licences after the incorporation.
Similarly, if you already have a registered company in Vietnam and want to expand your activities and the new activities are not covered under any of the company’s licences, additional licence(s) should be obtained.
Emerhub can consult you on different licences and areas of activities available to foreign investment, and help you choose the most appropriate licences for your company’s needs.
Capital contribution and bank accounts
After receiving the Business Registration Certificate the founder(s) of a limited liability company or joint-stock company have 90 days to make the capital contribution to the company. In Vietnam this cannot be made directly to the bank account of the company, instead the company must open a capital account and the founder(s) or legal representative(s) a bank account in a commercial bank of their choice. The capital contribution must be transferred from founder(s) bank account to the capital account of the company. In order to open a bank account in Vietnam the founder(s) or legal representatives of founder(s) must visit Vietnam in person.
Emerhub can help you choose a commercial bank in Vietnam and liaise with your chosen bank in order make the process smooth and your trip worthwhile.
Tax registration
Every newly incorporated company has to register with the local tax department and obtain a book of VAT-invoices. The VAT-invoices must also be registered with the local tax department.
Emerhub can take care of the tax registration of the newly incorporated company and VAT-invoices related notifications.
Declaration and submission of annual business licence tax
All limited liability companies, joint-stock companies, and branches are subject to annual business licence tax. The amount of the business licence tax depends on the size of the capital of the company or parent company and does not exceed 140 USD.
If a company or branch is in violation of this requirement the licences of the company or branch might be revoked and the company or branch is subject to a fine. Emerhub can assist you with calculating your company’s or branch’s tax liability and will remind you to pay the tax annually.
Labour related registrations
Every newly established company must register all employees with a local labour office within 30 days of incorporation. All employees whose employment contract is valid for 3 months or longer must also be registered with the Social Insurance Fund. In addition all employers must register with a local trade or industry union within 6 months of incorporation.
Emerhub can take care of all necessary labour related registrations and ensure compliance with the Vietnamese labour code. In addition Emerhub can help you with drafting employment contracts and advise you on local employment practices.
Corporate secretary service
Any changes related to the company, branch or representative office such as addition of shareholders/members, increase or decrease of registered capital, change of legal representative, must be registered with the local authorities. In addition directors, legal representatives, and members of the inspection committee are appointed for a specific term and need to either be recalled or re-elected.
Emerhub can draft and submit the documents required to implement any necessary changes and make the relevant registrations.