Getting Visa for Opening a Company in Vietnam : What Type Of Vietnam Visa For You?

More and more foreign investors are coming to Vietnam to do business. Because of this, the Vietnam government has implemented a wide range of guidelines and policies that foreign investors must follow. One of the most important policies is having the right type of visa.

If you are coming to Vietnam to open a company, then the first thing you need to think about is your visa. Although Vietnam offers visa-free entry to foreigners coming from certain countries, most foreigners should have a visa in order to be allowed into Vietnam and start a business. So here’s what you need to know when it comes to getting a visa for opening a company in Vietnam.

Vietnam Business Visa

Since your main purpose in visiting Vietnam is to open a company and do business, then you need to get a business visa. This type of visa is categorized as a DN visa or a short-stay visa.

The Vietnam Business Visa will let you enter Vietnam and stay in the country for up to 12 months. That should be enough time for you to set up a company in the country. This visa is also issued to those who will come to Vietnam to work with a Vietnamese company or conduct business-related activities like training, meetings, signing of a contract, etc.

Requirements to Apply for a Vietnam Business Visa

To apply for a Vietnam Business Visa, here are the requirements you need to submit:

Passport copy, which should be valid for at least six months from your date of entry in Vietnam. It should have two extra blank pages for the visa stamp.

Payment for the stamping fee of a business visa on arrival. This will cost $25 for 1 to 3 months visa or $95 for multiple entries with a stay of up to six months.

Sponsorship letter that you can get from a licensed company in Vietnam.

When you apply for a Business Visa, you will be asked to pre-register online. After you register, they will give you a pre-approval letter, which you need to present at the visa counter at the airport. The visa will then be stamped into your passport and you are free to enter Vietnam.

Things to Keep In Mind When Opening Company in Vietnam

Opening a company in Vietnam can be quite tricky. Aside from having the right type of visa, there are several other things you need to keep in mind. Here are some of them:

Consider having a local partner – although not all businesses would require foreigners to have a local partner in Vietnam, it’s a good idea to have a local partner. Having a local partner will make it easier for you to set up the business since your partner is already familiar with the Vietnamese market.

Make sure you have sufficient capital – the Vietnam government has imposed a minimum amount of capital for certain types of businesses in Vietnam. Depending on the type of company that you plan to open, it’s important that you have a sufficient amount of capital. This should cover all the costs involved in setting up the business and until such time that you can start operating.

Always ask for VAT invoices – it’s important that you keep a copy of the invoices of the Value Added Taxes (VAT) that you pay when you start your company in Vietnam. Make sure you are able to keep track of all these invoices. That’s because all foreign-owned companies in Vietnam will be required to submit audited financial statements so you need to have all invoices kept.

Learn the laws – do not open your business without learning the laws concerning foreign-owned companies in Vietnam. Take time to research or hire a local company that can help you set up your company. Remember, foreign-owned companies are often under high scrutiny. So to avoid getting into trouble with the law, know the rules and restrictions ahead.

Explore various options – be open-minded when opening a company in Vietnam. Explore various options before you set up your business. Learn about all the other ways you can do business in the country. Decide which option is best for you and stick with it.

Conclusion

Opening a company in a foreign country is not easy. But the most important thing to keep in mind is to always follow the local laws and regulations. So when coming to Vietnam to do business, make sure you have the right type of visa. That way, you will be able to conduct business legally and not get into trouble with the authorities.

Of course, it’s very important that you plan and prepare your business well. Study the market ahead and spend some time in Vietnam to get to know the country even better. Using local companies and consultants can also make things easier for you. Aside from giving helpful tips, they can also help in registering your business and assist you in every step of the way.

If you are thinking of opening up a school in Vietnam, then there are certainly lots of things you need to consider. Although the process of setting up a school in Vietnam is pretty straightforward, there are lots of steps involved in this.