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Publications

10 Common Mistakes Foreign Investors Make After Starting a Company in Vietnam


Establishing a company in Vietnam is a significant step for many foreign investors, and hopefully the beginning of a successful business undertaking. Anyone that has gone through the process of preparing for and submitting an IRC application (Investment Registration Certificate) for approval will understand the frustrations and substantial paperwork required in Vietnam just to commence the process.

Investors will usually use lawyers or professional service providers to undertake the (complicated and time consuming) company registration process for them, and will rely on these advisors to understand as much about the ongoing requirements that arise for their new company when it is established.

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Vietnam Tax Update October 2016


This October 2016 edition of Domicile’s Tax Updates looks at recently issued Official Letters from Vietnam’s tax authorities, providing guidance in the often confusing realm of Vietnamese taxation. As always, please contact us if you would like further information on any of the items discussed in our Tax Updates publications.

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Client Alert - Minimum Wage Increases for 2017


The National Salary Council has issued a recommendation that Vietnam’s Minimum Regional Wage should be increased for 2017 by an average 7.3% (see table below for specifics).

In early October 2016, draft Circulars have been issued supporting the National Salary Council’s recommendation. Although it is still awaiting final approval from the National Assembly, history shows that this proposal will likely pass and we suggest that enterprises should take this proposed increase into account for their budget planning for the upcoming 2017 year.

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2017 Compliance Calendar

Available for download is our 2017 Vietnam Compliance Calendar for companies in Vietnam.

 

This calendar is designed to help companies in Vietnam understand the most common compliance dates for tax, payroll and government related matters.

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Client Alert - Foreign Loans & Vietnam Bank Accounts


Changes were released earlier this year, affecting the recording and processing of foreign sourced loans by Vietnamese companies. This Client Update looks at what these changes mean to Vietnamese entities, and what business managers/owners need to be aware of when undertaking loans from abroad.

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Vietnam Client Alert for Representative Offices - August 2016


The use of Representative Offices in Vietnam has traditionally been a common preference for many international groups seeking a physical presence in Vietnam.

However, in recent years there has been a noted push by Vietnamese authorities to decrease the use of Representative Offices, partly to negate the perceived tax avoidance opportunities that Representative Offices provide to their parent companies.

In 2016 we have seen two significant releases by Vietnamese Authorities that change the case for using Representative Offices in Vietnam for many, and we suggest international groups reconsider or review their current Representative Office operations in Vietnam. Further, we suggest that those seeking to open a Representative Office in Vietnam also reconsider this choice to ensure it remains appropriate given recent changes.

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Vietnam Tax Update August 2016


This August 2016 edition of our Tax Update publication looks at significant changes to Value Added Tax (“VAT”) refunds and associated regulations for taxpayers in Vietnam, along with discussions on recent Official Letters released by tax authorities covering Personal Income Tax, Corporate Income Tax and VAT.

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Transferring Money from Vietnam to Abroad: Options for Foreign Individuals and Companies

 

Individuals who have spent time in Vietnam appreciate that sending money into Vietnam is relatively easy (although, caution must be taken to ensure that inflows are correctly documented, otherwise those inflows may be taxed as revenue/income), but getting money out of Vietnam is constantly a challenge for foreign individuals and companies operating in Vietnam.

The reality is, however, that it is possible to send money abroad in many legal ways from Vietnam, and below we highlight the most common legal methods for foreign individuals and companies in getting their cash out of Vietnam.

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Please feel free to contact Domicile Corporate Services or visit us using the information below.

Vietnam Offices

Ho Chi Minh City:
Level 9, Abacus Tower
58 Nguyen Dinh Chieu, District 1 

Hanoi:
Level 13, Hanoi Towers
49 Hai Ba Trung, Hoan Kiem District

Danang:
Level 3, Indochina Riverside Tower
74 Bach Dang, Hai Chau District

Email

info@domicilecs.com

Phone

+84 (0)28 6291 5779 (HCMC)
+84 (0)24 3266 3314 (Hanoi)
+84 (0)236 366 4662 (Danang)

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