Company formation in Vietnam
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About Vietnam
Vietnam is rated one of the fascinating countries in Southeast Asia. The famous attention-seeking mountains, beautiful city, and ideal beaches make Vietnam the first choice of many tourists. The rich green nature in Vietnam plays half of the role in developing the country’s economic growth.
Vietnam is also renowned for its Buddhist shrines. The beautiful shiny Buddhist shrines are honoured by the Buddhism followers. They can be spotted right next to the city’s huge skyscrapers. People can enjoy Vietnam in many ways. It has luxury hotels. You can go hiking and spend quality time surrounded by nature as well.
Vietnam is in the centre of southeast Asia. Vietnam has China situated on the Northside of the country. Laos and Cambodia are present on the west side. The land occupied by Vietnam is about 331,212 kilometres. Also, it has a stable geographical feature.
Vietnam has become the most famous destination for offshore company formation.
Vietnam is famous for its lush green mountains and the city view as well. Vietnam is also close to these countries; Thailand, Malaysia, Indonesia, and the Philippines. Such factors make Vietnam the suitable place for the setup of offshore company formation.
The additional points are the large geographical area and politically strong neighbouring countries. Features like these persuade many business and company owners to set up an offshore company in Vietnam.
The population of Vietnam is considered to be a factor for the popularity of offshore company formation in Vietnam. The total population of Vietnam, which was calculated at the end of 2017, was around 94 million people.
Such several populations are beneficial for the offshore company located in Vietnam. Vietnam offers many opportunities where people can earn and invest much money.
Vietnam is also known as a socialist country. All the political and legal matters in Vietnam are regulated under the CPV.
CPV is also known as the communist party of Vietnam. The communist party of Vietnam is accountable for all the matters that go around in Vietnam.
Vietnam allows the exchange of foreign currency. The currency used in Vietnam is called Dong. The residential and non-essential parties can set up offshore companies in any currency as per their rules. Such reasons make Vietnam an ideal place to set up offshore companies.
Few steps for how to set up an offshore company in Vietnam with Thallium Consulting are listed below.
- Request for the free company name or suggest 3 names.
- Fill in the information about your company’s activity in Vietnam.
- Provide the shareholder information (if any) and their share percentage.
File up for a payment method for the setup of an offshore company in Vietnam.
Benefits of offshore company in Vietnam
Some various benefits or advantages make Vietnam a perfect offshore company setup place. Many other factors speak a lot more about the lands of the region.
Some primary and featuring benefits of setting up the offshore company in Vietnam are listed below.
- The tax rates are considered very impressive by the investors.
- Flexible law and jurisdiction orders.
- Easy process of documentation.
- No lengthy process for the company’s renewal.
- Low costs and saved extra amount of money.
The above-specified points explain some of the reasons for offshore company formation in Vietnam. It can be your guide for how to set up an offshore company in the region as well.
Corporate banking solution for offshore company set up in Vietnam
The opening of bank accounts can be very hectic in foreign lands. Similarly, to bring ease and benefit to individuals, Thallium Consulting offers corporate banking solutions for offshore companies in Vietnam.
Some of the offshore company setup banking solutions are specified below:
- The e-banking system —The best and easy way without any complications is to open an account through e-banking. It makes everything a lot better.
- The detailed business plan submission. Many times, clients get confused regarding their motto. To avoid this, Vietnam offers and allows the submission of business plans for suggestions; therefore, Thallium consulting helps you with a perfect business plan and submits it on your behalf to make sure it gets approved.
- The interviews are not required to be taken in person. It is another offshore banking solution offered by Vietnam.
The enlisted offshore banking solution is a guide for how to set up an offshore company in Vietnam; however, Thallium Consulting plays a great role in getting your offshore company with a corporate bank account.
The renewal process of the offshore company setup in Vietnam
You need to follow specific procedures for the renewal process of offshore company setup in Vietnam. The renewal process is meant to keep the running business under check. Thallium Consulting will handle these time-consuming tasks for you with perfection.
The renewal process of the offshore company in Vietnam requires a renewal fee or payment. You must make the payment before the anniversary date at which your offshore company was established.
Thallium Consulting sends notifications and reminders to pay for renewal fees to avoid any delay and last-minute rush. Those who do not pay the annual taxes cannot apply for the renewal process of their offshore company in Vietnam.
Perks of offshore company setup in Vietnam as a Tax Haven
Vietnam is known as the ideal land for the offshore setup company. There are numerous reasons why Vietnam is known as a tax Haven.
Some of the advantages of offshore company setup in Vietnam as a Tax-Haven are specified below:
- Easy tax information exchange agreements that are as per the international standards
- Good security and privacy protocols
- Easy process for the renewal fees
- Innovative work is allowed in the offshore company setup in Vietnam
- Regulated by the IBC jurisdictions
The above points explain everything you need to know about Vietnam as a Tax Haven. Thallium Consulting is here to provide you with quality banking and licensing solutions to make your offshore company setup easier for you.
