Investment in Vietnam: managing the compliances for an foreign employee

Danh mục nội dung

INVESTMENT VISAS FOR INVESTORS

Investment visas are issued to foreign investors to reside in Vietnam for a certain period of time. An investor may be allowed to get investment visas, temporary residence cards without a work permit.

According to the Law on entry, exit, transit and residence of foreigners in Vietnam has come into force since July 10th 2020, depending on the investment capital, there are 04 types of investment visas, time limits of the card can be from 1 to 10 years.

VISA – ĐT1 has time limits of visa up to 10 years – Issued to foreign investors investing in Vietnam and contributing capital of VND 100 billion or more or investing in business lines benefiting from investment incentives
VISA – ĐT2 has time limits of visa up to 5 years – Issued to foreign investors investing in Vietnam and contributing capital of VND 50 billion to less than VND 100 billion or investing in business lines benefiting from investment incentives treatment decided by the Government
VISA – ĐT3 has time limits of visa up to 3 years – Issued to foreign investors investing in Vietnam and contributing capital of VND 3 billion to less than VND 50 billion

THE REQUIRED COMPLIANCE PROCEDURES FOR EXPATS IN VIETNAM

Who are the foreign employees in Vietnam?

Executing the labor contracts
Working as managers, chief executive officers, experts, technicians
Internal reassignments
Enforcing contracts or agreements
Working for foreign non-governmental or international organizations in Vietnam

What are the required procedures that foreign employees in Vietnam shall keep in mind

Visa for experts and investors
Work permit
Temporary residence card
Personal income tax
Compulsory insurances
Labor contracts, Employment records and relations
Direct investment in Vietnam
Rights and obligation of Chief of representative offices and Legal representatives of a business entity
Legalized and notarized translations of overseas papers. Local banks accounts and remittances. Manage contracts. Buy, rent and purchase housing. Other procedures at the local competent state agencies

Foreigners 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.

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LEGAL EXPERT

VIVA BUSINESS CONSULTING

WHO WE ARE?

VIVA is the premium business consulting firm in Vietnam for market entry procedures, tax management, employment relation, corporate finance and local business procedures at local competent state agencies since 2006.
Our staying power thanks for the deep insights and integrated backgrounds in business laws – tax management – accounting – corporate finance – employment relations enhance us build trust and confidence and chosen by thousands of local and international clients from Hong Kong, Japan, US, EU, Singapore, India, China, Korea…. for their confident partner and successful business in Vietnam.

WHAT WE DO

VIVA offers one-stop platform, fully complied in optimal ways by local laws, for whole circle life of any enterprise in Vietnam:

Market entry and business regulations
Tax management
Accounting and Corporate Finance
Management of labor relations and payroll
Corporate – secretarial services
Local business procedures at any local competent state agencies
Mergers and Acquisitions.

WHERE WE ARE

With over 20-year journey in a single industry, our name valued by expanding list of successful and loyal clients:

We are recognized and selected by thousands of multinationals – foreign direct investment companies and investors in Vietnam
We are recognized and selected by thousands of global enterprise – foreign representative offices in Vietnam
We are recognized and selected by thousands of famous local companies in Vietnam

VIVA not only manage business required procedures by laws but firstly places client’s compliance and good standing, in the optimal methods when offering any solution, and integrated with our intensive resources that allow us to prevent most of the risks in advance, create more benefits, advantages and business inspiration for entrepreneurs.

The insights and consistent backgrounds in Business Laws – Accounting and Corporate Finance – Tax Management – Labor Relations and Payroll – Serectarial and consistent with our exclusive standard operation processes, consisting of consultation – implementation – pratice operation help us fully protect client interests as one-stop solution.

* VIVA Business Consulting is strictly complied with regulations on protection of personal data, according to Decree No.13/2023/ND-CP dated April 17, 2023, issued by Viet Nam government. VIVA use and keep your info for NO other purposes but providing exclusive service for you.

YOU WILL RECEIVE

“If you ask any successful businessperson, they will always have had a great mentor at some point along the road.”
Richard Branson