Reputable law firm in Vietnam

Reputable law firm in Vietnam

ANT Lawyers- A reputable law firm in Vietnam has English-speaking attorneys in Hanoi, Danang, and Ho Chi Minh City offices.

Our friendly, collegiate, and team-based working style is something we take great satisfaction in as a single, fully integrated, international partnership law practice in Vietnam.

We are a member of International Bar Association, Vietnam Bar Federation, Hanoi Bar Association.

ANT Lawyers is an Exclusive member in Vietnam of Prae Legal, a network of law firms with offices in 150 nations across 5 continents.

IFLR1000 assesses ANT Lawyers under Financial and Corporate. The boutique law practice specializes in corporate M&A and represents foreign clients and investors in a variety of domestic and international transactions, including joint ventures and restructuring.

We pride ourselves in our global recognition by the IFLR1000 on Financial and Corporate practice, our peers at Prae Legal's international standard, our local knowledge with our extensive network of Vietnamese authorities and local experts.

Our business approach is guided by customer needs and our goal of providing clients with high-quality legal assistance in a business environment.

Allow ANT Lawyers, a law firm in Vietnam assist you in conducting business in Vietnam.

Send us request via email at ant@antlawyers.vn or call us at +84 28 730 86 529 

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Italian investors want to invest in Vietnam

Economic and trade cooperation between Italy and Vietnam has created an exciting period than any time in recent memory. As of late, the Italian government has included Vietnam in the rundown of 20 nations that keep focusing on advancing exchange and venture until 2030.

On July 5th, 2022, the Vietnam-Italy Economic Cooperation Seminar the subject "Vietnam – A business and investment destination for Italian businesses" was organized by the Federation of Industry of Pisa province and Italian Chamber of Commerce in Vietnam (ICHAM), with the cooperation of Vietnamese Ambassador to Italy, the designation of the Embassy, heads of Pontedera cities, Pisa, Cascina, Calcinaia, heads of the Confederation of Industry of Pisa Province, and local businesses of the area of Pisa and the Tuscan region.

Vietnam is as of now Italy's biggest exchanging accomplice the Relationship of Southeast Asian Countries (ASEAN), while Italy is Vietnam's fourth biggest accomplice in the European Association (EU). Two-way exchange turnover 2021 will arrive at USD 5.6 billion, the most significant level ever, an increment of 20% contrasted with 2020. There are in excess of 110 Italian ventures putting resources into 18 regions and urban communities of Vietnam and working effectively. As of late, the Italian government kept on remembering Vietnam for the rundown of 20 nations that keep on focusing on advancing exchange and speculation until 2030.

Why Italian companies should invest and do business in Vietnam?

One is the dynamism of Vietnam's economy. Second, the deep integration of Vietnam's economy, which is a member of 16 Free Trade Agreements (FTAs) at the moment. These FTAs include brand-new and substantial ones like EVFTA, RCEP, and CPTPP. Third is Vietnam's changes and improvement needs. Fourth is the actions to help from the Italian government for organizations, particularly little and medium undertakings, in advancing "Made in Italy" items and internationalizing developing business sectors. Fifth is the reinforcing of trades and common figuring out between the people groups of the two nations.

The Vietnam Ambassador accepts that the meeting is a valuable chance to trade data and the kickoff of new participation projects sooner rather than later among Tuscany and Vietnam to upgrade this profoundly expected reciprocal collaboration. The Vietnam Ambassador communicated his expectation that an ever increasing number of Italian organizations overall and Toscana specifically will proceed with the outcome of Italian organizations putting resources into Vietnam, setting up company in Vietnam exploiting Tuscany area, with qualities in social qualities, long history, the travel industry, cooking, wine, design and workmanship items, and high innovation.

A representative of Esanastri printing organization, which has a factory set up in Vietnam, underscored that, notwithstanding lengthy involvement with the field of assembling silk-printed enhancements and 3D logos, as well as future arranging while moving the creation of head protector decorations, glue illustrations and 3D symbols to Vietnam, it was the cordial business climate in Vietnam that turned into an unequivocal variable for the improvement of the organization. Until now, Esanastri Vietnam has 50 workers and has produced more than half a million decorations with a turnover of about 3 million euros in 2021.

A representative of Segis organization, which likewise has a factory set up in Vietnam, imparted to the gathering participants about the triumphs of Segis Vietnam organization when the organization's furniture items with own plan has won many plan grants from the Modern Plan Relationship in Italy (Compasso D'oro), traded to Italy, Europe and USA for the beyond 10 years.

Vietnam Ambassador has required the help of the city experts in illuminating and supporting businesses doing business and investing and establishing companies in Vietnam, making good circumstances for trade exercises, culture and exchange among Vietnam and Italy inside the system of exercises to praise the 50th commemoration of the foundation of political relations between the two nations. 

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Company formation in Vietnam- How to proceed?

Company Formation in Vietnam?

Foreign investors may put resources into the type of 100 % funding to set up company  in Vietnam, being joint stock company, limited liability company, partnership company. In recent years, the openness policy of the Vietnamese government has made company formation in Vietnam easier.

To receive investment registration certificates, first-time foreign investors in Vietnam must have investment projects and complete investment registration or examination procedures at state investment agencies.

Business registration certificates shall concurrently be investment certificates. Company with 100% foreign capital has established and operated from the date of issuance of the business registration certificates

Vietnam company formation dossiers

-Registration/Request for issuance of Investment Certificate;

-A report on financial capability of the investor;

-Draft of the company’s charter;

-List of members of company;

-Copy of the people’s identity card, passport or other lawful personal certification, for individual members;

-Copy of the business registration certificate or establishment decision, or other equivalent document, for member organizations;

-Copies of the people’s identity card, passport, the authorization document, or other lawful personal certification, for authorized representatives.

-Within three months of the date of submission of the business registration dossier, copies of the foreign member organizations' business registration certificates must be authenticated by the organizations' registered agencies;

-Written authorization of the investor in case investor is organization and valid copy of  the legitimate individual affirmation of the approved delegate. Documents in foreign languages must be converted into Vietnamese, authenticated and legalized;

-The Business Cooperation Contract (BCC) or the joint-venture contract

-Other documents required by Vietnam law

Vietnam company formation would take anywhere from 30 days. If the investment area is conditional or the State government must examine the investment project, additional time may be required.

Special licenses, minimum capital or other conditions might be required in certain investment projects.

How a law firm in Vietnam would help with company formation in Vietnam?

While the process of company formation in Vietnam is straight forward more often than not, there are numerous circumstances which it would be better that the client draws in a law firm in Vietnam to help with record planning, legitimate interpretation, legally approbation, and verification of utilization dossiers. 

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The Importance of Legal Translation Services in Vietnam

The Importance of Legal Translation Services in Vietnam

In an undeniably globalized world, viable correspondence across language boundaries is essential, especially in legitimate issues. Legitimate interpretation administrations in Vietnam assume an essential part in crossing over language barriers and guaranteeing precise comprehension and translation of lawful messages and records.

Legal translation is a profoundly specific field that requests mastery in both legitimate ideas and language proficiency. The complicated idea of overall sets of laws, phrasings, and designs expects interpreters to have thorough information on the source and target dialects, as well as profound experience with the legal systems involved.

In Vietnam, where official procedures and documentation are directed in Vietnamese, the requirement for exact interpretation emerges while managing worldwide exchanges, contracts, protected innovation freedoms, and other lawful issues including unfamiliar elements. Failure to effectively translate legal documents can prompt misconceptions, legal disputes, and compromised arrangements, possibly bringing in financial loss or damage to reputation.

Accuracy is vital in lawful interpretation, as even a minor blunder or exclusion can have huge results. Legitimate experts depend on exact and dedicated interpretations to accurately appreciate and decipher authoritative reports. By using proficient legal translation services in Vietnam, clients benefit from interpreters who have phonetic abilities as well as particular lawful information. These interpreters comprehend the intricacies of lawful wordings, guaranteeing that each term and idea is precisely deciphered, saving the expected importance and legitimate ramifications of the original document.

Besides, proficient lawful interpreters follow a thorough quality control process, including editing, altering, and checking, to ensure the precision and consistency of the translated text. This attention to detail guarantees that clients can believe the interpreted reports for lawful purposes, staying away from potential legal traps brought about by wrong interpretations.

Language is profoundly interwoven with culture, and legitimate interpretation should consider social subtleties to pass on the expected message precisely. With regards to Vietnam, a country with its own special social and lawful qualities, proficient legitimate interpreters have a nuanced comprehension of the local legal system This commonality permits them to precisely interpret lawful ideas and adjust the language to line up with social standards and legitimate practices.

In the legal field, time is frequently of the essence. Proficient legitimate interpretation administrations in Vietnam focus on convenient conveyance without compromising exactness. Interpreters stick to settled cutoff times, empowering clients to continue with official procedures, agreements, or exchanges without pointless deferrals. Furthermore, legitimate interpretation specialist organizations maintain severe secrecy norms. Secrecy arrangements and secure information taking care of conventions are executed to safeguard clients' data, guaranteeing that lawful interpretations are dealt with the greatest possible level of amazing skill and privacy.

In conclusion, in the present globalized legal scene, precise correspondence is basic for fruitful legitimate results for financial backers and money managers carrying on doing business in Vietnam. The utilization of expert legal translation services in Vietnam ensures precision, keeps up with the trustworthiness of legitimate correspondences, and improves the general viability of legitimate cycles in Vietnam's assorted and dynamic legal environment. 

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How to start a business in Vietnam as a foreign investor?

How to start a business in Vietnam as a foreign investor?

Vietnam is one of the fastest-growing economies in Southeast Asia, with a young and dynamic population, a favorable business environment, and a strategic location. Additionally, Vietnam's government has been increasingly enacting more preferential policies to facilitate foreign investors' entry into the country to do business in Vietnam. If you are interested in starting a business in Vietnam, here are some steps you need to follow:

Step 1: Choose a business entity type

There are different types of business entities in Vietnam, such as limited liability company joint-stock company partnership, branch office, representative office, etc. Each type has its own advantages and disadvantages, depending on your business goals, capital, and legal requirements. You should consult a local law firm in Vietnam to help you decide which entity type suits your needs best.

Step 2: Register your business in Vietnam

After chosing your business entity type, you need to register your business with the relevant authorities in Vietnam. This involves submitting various documents, such as: business name, address, charter capital, shareholders, directors, tax code, etc. Depending on the type and scope of your business, you may also need to obtain additional licenses or permits from other agencies, such as the Ministry of Industry and Trade, the Ministry of Health, the Ministry of Planning and Investment, etc.

Step 3: Open a bank account in Vietnam

You need to open company’s bank account after registering your business. You will need to provide your business registration certificate, tax code certificate, and other documents to the bank. You can choose from various local or foreign banks operating in Vietnam, depending on your preferences and needs.

Step 4: Hire staff and set up your office in Vietnam

The next step is to hire staff and set up your office in Vietnam. You will need to comply with the labor laws and regulations in Vietnam, such as: minimum wage, social insurance, health insurance, working hours, etc. You will also need to find a suitable location for your office and equip it with the necessary facilities and equipment.

Step 5: Start your operations and marketing

You will need to develop a business plan and strategy that suits the local market and culture in Vietnam. You will also need to build relationships with customers, suppliers, partners, and authorities in Vietnam. You can use various channels and methods to promote your products or services, such as: social media,online platforms, events, etc.

Starting a business in Vietnam can be challenging but rewarding. By following these steps and seeking professional advice from the law firm in Vietnam when needed, you can successfully establish and grow your business in Vietnam.

ANT Lawyers is the reliable law firm in Vietnam that will always contact the authorities to obtain legal updates on issues pertaining to do business in Vietnam. 

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Vietnam is an attractive destination for startups

 According to Bloomberg, Vietnam is an attractive destination for startups in 2023

The international press reported that Vietnam's economy has been struggling domestically and internationally in 2023. However, there are still encouraging signs regarding the economy's potential for growth. In the meantime, Vietnam is also focusing on long-term economic growth to encourage startups to start businesses, invest, and do business in Vietnam.

As the boom period of reopening following COVID-19 comes to an end in 2023, the economy is returning to a long-term growth trajectory. Vietnam wants to spend 7% of GDP on infrastructure this year to support economic growth and ensure that FDI will continue to flow into the country for years to come.

In the future, Vietnam's economy is being strengthened by foreign direct investment. Vietnam is an ideal location for tourists and foreign investors to set up company in Vietnam due to its favorable business climate, stable political environment, sustainable macroeconomic development, abundant labor force, and low cost.

According to experts, the situation is very bad all over the world, but Vietnam has been recovering and getting back on track with its development. There will still be obstacles, such as the possibility of a recession and global protectionism, which reduces export demand. However, there will still be many advantages, and foreign investment, investment in human resources, and infrastructure, will drive growth in a variety of ways. In addition, the recovery of consumer and business confidence is expanding rapidly. Domestic demand has returned to normal.

According to Bloomberg, Vietnam is a desirable location for startups due to its abundance of skilled engineers, low labor costs, and rapidly expanding economy. By 2030, Vietnam wants to make Ho Chi Minh City a "magnet" for technology investments and a digital economy.

Vietnam is now a major hub for manufacturing and a crucial link in the global supply chain. As a result, increasing automation is crucial for economies and businesses. One of the primary drivers is the rapid improvement in labor productivity and digitization of the value chain. Vietnam's economy has great potential for rapid growth and digital transformation across all sectors.

Concerning the factors that ensure Vietnam's growth, there is a consensus. These elements incorporate speeding up primary and institutional changes, profoundly taking part in new-age economic alliances, improving unfamiliar speculation fascination, speeding up computerized financial change, and profound mixing into the worldwide store network.

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How an International Organization Could Set up Branch Office in Vietnam?

 How an International Organization Could Set up Branch Office in Vietnam?

An unfamiliar business substance or an unfamiliar dealer is permitted to set up a branch office in Vietnam to direct business exercises.

A branch in Vietnam is distinct from a representative office in that it is granted the authority to carry out business activities and generate revenue. While a foreign-owned company established in Vietnam exists independently, a branch is dependent on the foreign business entity that established the branch. The establishment of a branch office in Vietnam will be approved by the Vietnam Department of Industry and Trade, and the Vietnam Ministry of Planning and Investment will be the state agency in charge of coordinating company formation in Vietnam.

In particular, the term "Branch" refers to a subsidiary unit of a foreign business entity that has been established in accordance with Vietnamese law to be able to enter into contracts and engage in the purchase and sale of goods and other commercial activities in accordance with its license for establishment granted in accordance with Vietnamese law and any international treaty to which the Socialist Republic of Vietnam belongs.

The establishment license must be applied for and obtained by the Branch; and have a seal with the branch's name on it.

1. Rights of the Branch in Vietnam

-To rent offices and to lease or purchase the equipment and facilities necessary for the operation of the branch.

-To recruit Vietnamese and foreign employees to work for the branch in accordance with the law of Vietnam.

-To enter into contracts in Vietnam in accordance with the activities stated in the license for establishment of such branch and in accordance with the Vietnam Law.

-To open Vietnamese dong and foreign currency accounts at banks which are licensed to operate in Vietnam.

-To remit profits abroad in accordance with the law of Vietnam.

-To have a seal bearing the name of the branch in accordance with the law of Vietnam.

-To conduct activities being the purchase and sale of goods and other commercial activities consistent with its license for establishment in accordance with the law of Vietnam and any international treaty to which the Socialist Republic of Vietnam is a member.

2. Requested Conditions to Set Up a Branch Office in Vietnam

An unfamiliar organization which has viability business exercises will be permitted to open branch office in Vietnam in the event that this organization has genuine interest to open the market in Vietnam and meet a few circumstances as underneath:

-Being a trader recognized by the law of the country where it has been lawfully established or made its business registration;

-Having been operating for at least five years after its lawful establishment or business registration.

3. Issuance the Certificate of Branch:

The Department of Industry and Trade Department will carry out the issuance of the Certificate of Branch once the foreign company satisfies all Vietnam legal requirements.

The responsible period will be inside 20 working-days after the date of presenting the full substantial records as mentioned.

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What Are the Benefit of setting up business in Vietnam?

What Are the Benefit of setting up business in Vietnam?

Vietnam has a coastline that is more than 3,000 kilometers long, and it is situated in a significant region of Southeast Asia. Vietnam's diverse geography includes mountainous, highland, and coastal areas that are suitable for general economic zones, making it an ideal location for the growth of the tourism and trade sectors. Investors can benefit from incentives for land finance, import and export taxes, and corporate income tax when setting up business in Vietnam.

Tax incentives for businesses: The corporate tax rate (CIT) in Vietnam has been gradually decreasing over the past few years. In the 2004-2008 period, CIT was 28%, in the 2009-2013 period it was 25%, from 2014 to 2015, 22% and from January 1, 2016 up to this point, 20%. In addition, the provision of high corporate income tax incentives for a number of essential fields that need to be encouraged for investment has contributed to the attraction of investment, the encouragement of business, the creation of favorable conditions for enterprises to increase accumulation, the increase in investment in the economy, and the promotion of growth, thereby encouraging investors to start businesses in Vietnam.

Tax incentives for imports and exports: Regulations have been added to the 2016 Import and Export Tax Law to exempt high-tech businesses, science-tech businesses, and science-tech organizations from paying import taxes on raw materials, materials, and components that cannot be produced domestically within five years of the start of production. There are also import and export tax incentives being applied such as:

(i)Goods imported for foreign processing are exempt from import tax, and products exported and returned to foreign parties are exempt from export tax;

(ii)The tax payment deadline can be extended to 275 days from the date of filing the customs declaration for goods that are imported for the purpose of processing and are exempt from tax, goods that are temporarily imported for re-export, and goods that are raw materials and supplies used in the production of exported goods; Taxes on goods temporarily imported for re-export may be paid 15 days after the expiration date;

(iii)The creation of fixed assets for investment projects in areas of special investment encouragement, investment promotion fields, and locality with difficult socio-economic conditions is exempt from import tax on goods.

Incentives on land finance: The general land rent can be reduced from 1.5 percent to 1 percent for foreign investors investing in Vietnam. Furthermore, the State likewise specifies the utilization of the land cost change coefficient in deciding the land cost to compute the land lease, consequently, making Vietnam progressively turning into a good objective to draw in unfamiliar speculation and company foundation in Southeast Asia.

In the spirit of the state ensuring the rights of the investors' ownership, investment capital, and other interests of foreign organizations and individuals, creating favorable conditions, and simplifying procedures for such organizations and individuals to invest in Vietnam, the development of a transparent and consistent investment legal system is also increasingly becoming a useful tool to promote inflows of foreign direct investment into Vietnam.

The international public considers Vietnam's foreign investment law to be more open and appealing than those of some of the countries in the region. For instance, the law allows for 100% foreign capital ownership, administrative procedures are simplified, and there is no discrimination between Vietnamese and foreign-invested businesses. The law has been changing to see investment and business as matters between businesses and investors, with investors having full authority to make decisions about everything from investment projects to the company's formation and operations, and the government only guiding, creating an open legal environment with favorable mechanisms and procedures, supervising, and enforcing the law.

ANT Lawyers - a law office in Vietnam will continuously circle back to experts for legitimate update on issues pertinent to venture enrollment or business setting-up in Vietnam.

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Forms of Setting up company in Vietnam

 Forms of Setting up company in Vietnam

According the Vietnam Law on Enterprises, there are four common types of companies:

-Private enterprise

-Partnership

-Joint stock company

-Limited liability company

-Private enterprise is a business run by a single person who is responsible for all of its operations and owns all of its assets;

-Partnership is an organization in which (i) at least two partners co-own the business and operate jointly under a single name; There may be limited partners in addition to general partners; ii) A partnership's general partners must be individuals who are fully responsible for the partnership's obligations with their entire property: iii) Limited partners are only responsible for the partnership's debts up to the amount of their capital contribution;

-Joint stock company is an enterprise where i) Its contract capital is partitioned into equivalent bits known as shares; ( ii) Shareholders may be individuals or organizations; the base number of investors will be three and will not be confined to a specific most extreme number; ( iii) Its shareholders are only responsible for the debts and other property obligations of the company up to the value of their capital contribution; ( iv) Shareholders will be free to transfer their shares in accordance with the law;

-Limited liability company (also known as a single-member or multi-member limited liability company). A one-member limited liability company is an enterprise which is owned by one organization or individual (hereinafter referred to as the company owner); Within the company's charter capital, the owner is responsible for the company's debts and other property obligations. A business is a limited liability company if: i) Members may be individuals or organizations; The number of members in total cannot be more than fifty; ( ii) Individuals are answerable for obligations and other property liabilities of the undertaking inside how much capital that they have resolved to add to the endeavor; ( iii) The members' capital shares can only be transferred in accordance with the law.

ANT Lawyers is a law firm in Vietnam with international standards, recognized by IFLR1000 on Financial and Corporate practice. The firm provides a wide range of legal services, including M&A, corporate establishment, business advisory, tax advisory, dispute resolution for multinational and domestic clients.

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7 Fundamental steps to comply with Vietnam laws and set up a business

 7 Fundamental steps to comply with Vietnam laws and set up a business

In terms of business activities, Vietnam's economy is becoming more diverse, and business regulations are also constantly being improved. As a result, foreign investors are free to select the appropriate business. Therefore, when foreign investors discover business opportunities, setting up a company in Vietnam there is always a topic of great interest.

7 fundamental steps to set up a business include:

-Set up a business in Vietnam

-Publish the contents of business registration

-The enterprise conducts stamp engraving

-Open a bank account in Vietnam

-Register the tax declaration form in Vietnam

-The enterprise needs to conduct labor registration in Vietnam

-Register for social insurance in Vietnam

1.The first step is to set up a business in Vietnam

The investor must first choose the kind of business they want to start and provide the name and expected information before they can proceed with this step. Consequently, the enterprise establishment dossier will be prepared in accordance with regulations and submitted to the Department of Planning and Investment, Business Registration Office, of the location where it is anticipated to be headquartered. The company will receive a certificate of registration after submitting a valid application, and the contents of the registration will be posted on the National Business Registration Portal.

2.The second step is to publish the contents of business registration

Subsequent to being conceded an endeavor enrollment endorsement, a venture should make a public declaration on the Public Business Enlistment Entry.

3. In the third step, the enterprise conducts stamp engraving

Enterprises can demand to make a seal from the seal-making specialist. As a result, the company is solely accountable for the use of its legal entity seal and actively chooses the seal's type, quantity, form, and content.

4. Fourth step is that to open a bank account in Vietnam

At the moment, businesses have the option of choosing a bank to open an account for them. To do so, the bank needs an application form, a sample of the bank's seal, the company's charter, and a certificate. Business enlistment and related archives are expected by various bank.

5. The fifth step is to register the tax declaration form in Vietnam

As a result, businesses register to use e-invoices and notify their tax authorities of this use. Undertakings need to contact the receipt provider to arrange the printing of significant worth added receipt books and should enlist self-printed solicitations with charge specialists.

6. In the sixth step, the enterprise needs to conduct labor registration in Vietnam.

Enterprises register with the Department of Labor, War Invalids and Social Affairs to proclaim the utilization of work. The employer must fill out the required form and register with the Labor Department within thirty days of the start of business. Additionally, Enterprises should keep in mind that the labor contract and the Labor Code govern the relationship between employers and employees.

7.Seventh step is to register for social insurance in Vietnam.

Enterprises register with the Social Insurance Agency to proclaim the utilization of work. The employer must fill out the required form and register with the Social Insurance Agency within thirty days of the start of business. Additionally, businesses should keep in mind that the labor contract and the Labor Code govern the relationship between employers and employees.

It tends to be seen that setting up a business expects organizations to complete a ton of techniques and follow various guidelines of duty, banking, work, protection… Consequently, other than finding out about legitimate guidelines and organizations can look for the help of expert counseling firm in Vietnam with mastery and involvement with the field of business foundation to carry out the cycle rapidly and really.

Finding the right colleague in Vietnam is likewise significant. In order to identify potential risks when working together, we recommend conducting background checks on key personnel, gathering publicly available information about the company and individual shareholders, whether corporate or individual. Working with a dependable accomplice can assist with accomplishing monetary advantages, setting aside time and cash in business.

ANT Lawyers, a Vietnam-based law firm, may provide assistance in setting up business in Vietnam. We help clients who need legal help get certificates for investment, business registration, or other licensing procedures.

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Ryan Reynolds Hollywood actor invests in a technology company

 Ryan Reynolds Hollywood actor invests in a technology company

Nuvei is a company that gives installment administrations to sports wagering. It recently received investment from the well-known actor and investor Ryan Reynolds.

The business has operations in approximately 50 nations and was founded in Montreal, Canada, in 2003. Customers from the crypto and gaming industries can use its payment services. Reynolds joked about the CEO's low profile in comparison to other US tech executives, but he did not specify how much he invested.

Reynolds has previously invested in Aviation Gin and Mint Mobile, a low-cost mobile phone service, among other businesses.

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How to Establish Travel Services Business in Vietnam?

 How to Establish Travel Services Business in Vietnam?

Because passenger transportation is one of the investment areas subject to restrictions for foreign investors in Vietnam, a foreign investor can only form a joint venture with a travel agency in Vietnam to establish a travel services business there.

It is impossible to deny the significant impact that information technology has had on the travel services industry. The utilization of booking reservation framework application on cell phone and web are inescapable that make travel has never been more straightforward. The travel services market would be interesting for a foreign investor to explore. Nonetheless, 100 % foreign owned company is not allowed  to set-up travel services business in Vietnam. Due to the conditionality of this investment area, a Vietnam-based law firm should be consulted to ensure compliance with local regulations.

The application process and documents requirements to establish travel business in Vietnam are briefly

1.Required documents to establish travel business in Vietnam

-Application for the International Travel Business License (form);

-Certificate of business registration (copy – certified)

-Business plan for the international travel agency;

-Tour schedule

-Proof of at least 4 years of experience in international travel business operations

-Certified copies of the tourist guides’ cards whereby at least 3 international tourist guides are required

-Confirmation of bank deposit (as per regulations);

-Proof of offi

2. Business License Application Procedure to establish business in Vietnam

-Submitting the required documents to the appropriate authority (the province or city's Department of Culture, Sports, and Tourism).

-Within 10 working days of receiving a valid application, the province or city's Department of Tourism completes the appraisal records and sends a written request along with the agency's records to Vietnam's Ministry of Culture, Sports, and Tourism. At the point when cases are not qualified for the proposed grant to the state organizations, the commonplace the travel industry office will refer to the particular purposes behind refusal.

Within ten working days of receiving the file and written request from the state agency of tourism in the province, the international travel business must be reviewed and licensed by the state management agency of tourism (VNAT – Ministry of Culture, Sports, and Tourism). In the event of refusal, the service will express the particular motivations to the state and commonplace the travel industry specialists.

3. Number of records

-Submission to the Department of Culture, Sports and Tourism: 01

– Tourism Authority Filed in: 01

ANT Lawyers – a law firm in Vietnam will always follow up with authorities for legal update on matters relevant to investment registration or business registering in Vietnam.

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