FOREIGN INVESTOR, LEGAL REP AND CHIEF REP IN VIETNAM

THE REQUIRED COMPLIANCE PROCEDURES THAT YOU SHALL KEEP IN MIND

INVESTORS, LEGAL REP AND CHIEF OF REP IN VIETNAM

VIVA Business Consulting is offering free counsel and supporting to foreign investors and chief of representative office in Vietnam. Under our management, any of your local 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 inline and consistent with the position
3. Establish 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 tax planning

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 payments according to the tax agreements.
5. Representative on behalf to manage and settle any query or requirements from the local competent state agencies.

Manage and participate in the compulsory insurances

1. Cases that the employees who are foreign nationals working in Vietnam shall be required to participate in the compulsory SI program.
2. Cases that the foreign employees referred above shall be excluded from participation in the compulsory social insurances.
3. If the insured employee who is currently entitled to monthly retirement pensions and SI benefits is not residing in Vietnam, he/she may authorize another person to receive these amounts. The one-off benefit payment in his/her wish shall be approved.
4. Manage your total compulsory social insurances contribution rates are 30%, consist of:
   • The employee side shall, on a monthly basis, make a total SI contribution accounting for 9,5% of monthly pay (8% into the retirement and death benefit fund and 1,5% into the sickness and parental insurance benefit fund)
   • The employer side shall, on a monthly basis, make a SI contribution accounting for 20,5% in proportion to the employee’s payroll in the SI payment month (14% into the retirement and death insurance benefit fund, 3% into the sickness and parental insurance benefit fund, 5% into the occupational accident and disease benefit fund, 3% into the health medical fund).

Manage your work permit in Vietnam

• Cases of work permit application
• Cases of work permit exemption
• Required papers and procedures

Manage your investment Temporary residence card in Vietnam

Depending on the investment capital, there are 04 types of investment visas for foreign investors:

1. VISA – ĐT1 has time limits of visa do not exceed 10 years – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam and contributing capital of VND 100 billion or more or investing in business lines benefitting from investment incentives, in administrative divisions benefitting from investment incentives decided by the Government.
2. VISA – ĐT2 has time limits of visa do not exceed 5 years – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam and contributing capital of VND 50 billion to less than VND 100 billion or investing in business lines benefitting from investment incentives treatment decided by the Government.
3. VISA – ĐT3 has time limits of visa do not exceed 3 years – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam and contributing capital of VND 3 billion to less than VND 50 billion.
4. VISA -ĐT4 has time limits of visa do not exceed 12 months – Issued to foreign investors in Vietnam and representatives of foreign organizations investing in Vietnam and contributing capital of less than VND 3 billion.

The local procedures in Vietnam | banking, housing, investing

1. Private banking services: Manage required papers and procedures for every transaction 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 required papers so that you will be always ready to provide information and protect your interests during your working in Vietnam.
5. Exclusive counsel for the Chief of representative offices and Legal representatives of a business entity.

Read more:

• Compulsory social insurance for foreign employees: new regulations
• Chief of representative office or head of branch in Vietnam: role and responsibility
• Legal representative of enterprise in Vietnam – Roles & responsibility
• Temporary residence card in Vietnam: what you need to know
• Investment visa in Vietnam: type and time limits
• Managing labor relations for expats in Vietnam
• Work permit in Vietnam: regulations and guidance
• Expats in Vietnam: work permit exemption – revocation
• Investment in Vietnam: market entry procedures
• Manage the mandatory compliance procedures for doing business in Vietnam
• Annual Personal Income Tax for Foreign Employees in Vietnam
• Personal income tax in Vietnam – 10 types of taxable income and tax rates