FDI BUSINESS OPERATION IN VIETNAM
MANAGE THE MANDATORY COMPLIANCE PROCEDURES

Foreign direct investment company in Vietnam

FDI BUSINESS OPERATION IN VIETNAM
MANAGE THE MANDATORY COMPLIANCE PROCEDURES

(Last Updated On: December 23, 2022)

Foreign direct investment company in Vietnam

At any business level, you shall always be complied with the mandatory compliance procedures according to local laws and regulations. Many companies have been paying for the similar expensive lessons due to violations with the procedures.

With ¼ of budget in maintain a permanent staff, we can manage and keep your good standing in Viet Nam in a lawful and optimal manner.

OUR STANDARD SCOPES OF SERVICE FOR THE REQUIRED COMPLIANCE PROCEDURES OF A COMPANY IN VIETNAM

General consultancy

  • Business information system
  • Business records and folders system
  • Labor rules and regulations
  • Payroll and compulsory payment in relate to salary and wage
  • Tax reports and manage tax expenses
  • Accounting and financial statements
  • Management accounting 
  • Internal audit
  • Independent audit

Chief of Operation Officer service

  • Daily hand in hand for any query and requirement from business operation… We have plenty of practical solutions for most of your actual business cases, and you shall not to pay for any lesson.
  • Provide business forms and office tools.
  • Update and apply for any new regulations.
  • Official representative to follow up and settle any query from competent authorities.

Tax management and accounting

  • Prepare papers and dossiers for initial tax declaration: Accounting system, add value tax method, VAT invoice… 
  • Manage all the targets and compliance procedures: Registration, declaration, settlement, explanation…
  • Prepare monthly, quarterly tax reports and submit before the deadlines: License tax, VAT, CIT, PIT, withholding tax, capital invested tax…
  • Setting up optimal structure of revenue and lawful expenses to optimize CIT, VAT, PIT the payable amount.
  • Prepare lawful accounting books system and financial statement. Supporting for annual independent audit confirmation.
  • Perform monthly, quarterly and annually internal audit for the proper business records, the true and fair of financial statements and compliance reports.
  • Verify potential risks and exists with correction solution and prepare a management letter to the BOD.

Employment relation and Payrolls service

  • Preparing papers and dossiers for initial labor declaration.
  • Setting up internal labor regulations, labor agreement, wages and salary policy…
  • Recruitment procedures: Principles, recruit notice, employee background…
  • Setting up labor relationship: Labor contract, labor declaration, PIT declaration SI & HI declaration…
  • Entering and implement a labor relationship: Attendance, payroll, performance…
  • Terminating a labor relationship: End the contracts, dismissals, liquidation…
  • Discipline and settle any dispute: Warning, collecting technical evidence, lawsuit cases…
  • Any compliance tasks for expat who are working in Viet Nam: Work permit, temporary resident card, personal income tax declaration and settlement…

Supporting on independent audit and business records management

  • Independent audit service on financial statements according to the Dispatch No. 117/2012/NĐ-CP dated 13/3/2012 of the Ministry of Finance, the FDI companies must have their annual financial statements audited.
  • Internal audit service.
  • Business records management procedures, other secretary services for business administration:
    • List of business compliance records.
    • Compliance standards of each record to the local regulations.
    • Create – Collect – Store the records.
    • Scan into soft copies.
    • Internal audit – correction actions.

MORE SERVICES FOR THE PREMIER CLIENTS

Manage the local required records and procedures for investors and legal  representative:

Foreign investors or chief of representative offices shall be complied with the local laws and regulations to avoid and prevent violations in advance, keep their good standing in optimal manners whenever they are working and doing business in Vietnam.

VIVA Business Consulting if offering free counsel and supporting to foreign investors and chief of representative office in Vietnam, this program will provide local regulations and instant solutions for most of the concerns for a foreigner who are working in Vietnam. Under our management, the required compliance procedures shall be reviewed and managed properly:

Professional employee profile and establish local employment relations:

    1. Know your employer and your title position
    2. Local job descriptions that shall be in lined and consistent with the position   
    3. Establish a lawful employment relations in forms of appointment letter, labor contract, internal assignment…
    4. Required papers to meet local conditions on foreign employment in Vietnam.
    5. Manage your work permits, residency.

Manage your personal income tax and compulsory insurances:

    1. Taxable incomes and tax exemption, methods of tax declaration and payment.  
    2. Review and identify your sources of incomes, and tax deduction to avoid potential violations that may impact to your good standing. 
    3. Calculate tour tax payable amount and compulsory insurances in lawful and optimal manners.  
    4. Review your tax reports and annual final settlement, apply for insurance benefits and avoid double tax payment according to the tax agreements.
    5. Representative on behalf to manage and settle any query or requirements from the local competent state agencies.

Other supporting for foreigners:

    1. Private banking services: Manage required papers and procedures for every transactions as per local laws. Overseas remittance and loans.
    2. Direct or In-direct Investment in Vietnam.
    3. Buy, rent and purchase housing
    4. Business records management for any of required papers so that your will be always ready to provide information and protect your interests during your working in Vietnam.
    5. Exclusive counsel for the Chief of representative office and Legal representatives of a business entity.

Restructuring – acquiring and selling a company

KYC and due diligence procedures

    1. Do the due diligence procedures for the parties and provide official reports on legal status, financial ability, debt obligation, asset and property, involving transactions that may impact to the transferring process
    2. Review the transferring process under every transaction. Set up the relations between the transactions legally and optimally
    3. Collect lawful business records, identify and remove the existing and prevent potential risk in advance

Draft for the MOU and contracts

    1. Verify the proper and lawful position of the parties, scope of transactions
    2. Verify the properness and lawfulness of transactions
    3. Verify the rights and obligations of the parties
    4. Verify for the potential risks and legal bases for the following procedures
    5. Prepare official MOU, contracts schedule of implementation and payment Guarantee for the lawfulness and fairness of every document, protect for the interests of the customer and prevent potential risks

Manage procedures of transferring

    1. Deposit payment
    2. Sign official transferring contract
    3. Portions of payment
    4. Hand over the factory
    5. Transferring the ERC, IRC and register for branch license/ subsidiary company
    6. Final payment
    7. Collecting legal business records for tax refund and business management

Transformation forms of business

    1. From representative office to subsidiary
    2. Between forms: One member Limited liability company More members Limited liability company Joint stock company Incorporated partnership

Transferring shares to other investors

    1. From individual investors to individual investors
    2. From individual investors to entity investors
    3. From entity investors to individual investors
    4. From local investors to foreign investors or vice versa.

 Connecting and getting the guidance from the local competent state agencies

  1. The General Tax Department
  2. Customs from provinces
  3. The Ministry of  Labor  
  4. The Ministry of  Investment and Planning
  5. The Ministry of Commerce 
  6. The Immigration department
  7. The Courts
  8. And our networks with experts, lawyers, auditors, local and foreign business chambers…

We aim to not only fully manage, optimize compliance procedures according to local laws and regulations, but also continuously offer outstanding solutions to help create added value and inspire our clients

We are a business consulting firm who have been continuously trusted by thousands of reputation clients since 2006. We dedicated to creating added value for clients by offering exclusive and tailored services related to market entry and business compliances, keep their good standing in optimal manners whenever they are doing business in Vietnam.

We wish to serve your business successfully as our other thousand of loyal clients. We are looking forward to receiving your consideration and acceptance.

ABOUT VIVA BUSINESS CONSULTING

Who we are?

  • VIVA is a business consulting company, specializes in business compliance procedures according to local business laws and regulations since 2006. VIVA has been continuously trusted by thousands of well-known clients since 2006.
  • The insights and consistent backgrounds in Business Laws – Accounting and Corporate Finance – Tax Management – Labor Relations and Payroll – Secretarial services help us build trust and confidence in the entrepreneur's community.
  • We have been successfully providing service for thousands of leading companies from Hong Kong, Japan, US, EU, Singapore, India, China, Korea…. in forms of FDI companies, Foreign representative offices, Foreigners working in Vietnam, Vietnamese SMEs, Chief Operation Officers.

What we do

  • Services for Expats in Vietnam: Visa, Work Permit, Temporary residence card, Compulsory Insurances, Personal Income tax, Labor contracts, Employment Records and Relations, Other Secretarial Services.
  • Services for Representative offices in Vietnam: Establishment, extension of representative office licenses. Required compliance procedures during operation. Rights and obligations of the chief of representative office. Closure of representative office risks management.
  • Services for a company in Vietnam: Setting up a new company and licensing service. Business records management. Daily business transactions management. Tax management. Accounting and financial statements. Employments, payroll and compulsory insurances. Representative on behalf of competent state agencies for any business administration procedures.

 

Motivated by our core values of ceaseless improvement, our great insights in local business culture and regulations, as well as the exclusive services, promise to offer you one-stop and tailored-made solutions that optimize every of your business in Vietnam in the lawful manner.

We are looking to be your valued business partner and resources in Vietnam as we have been choosing since 2006.

 

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