BUSINESS IN VIETNAM — FEATURES, LIMITATIONS, ADVANTAGES

BUSINESS IN VIETNAM - FEATURES, LIMITATIONS, ADVANTAGES

Opening a business in another state requires maximum responsibility, caution, competent study of information. Of course, it’s not easy to start one’s own business, but successful businessmen say that it’s quite possible to open a business in Vietnam! The main thing is to set yourself up for success, to pay special attention to studying the conjuncture of the Vietnamese market, the foreign language and the peculiarities of bureaucratization.

Content:

What is the business to open a Russian citizen in Vietnam?

Main features of doing business in Vietnam

Stages of opening a business in Vietnam

Buying a business in Vietnam

What should you look for?

Many compatriots claim that business in Vietnam for Russians – quite profitable and favorable occupation. It is recommended not to compete with the local companies, trying to submit already taken roots project, and it is the best of all, to offer the country something new, unfamiliar to the Vietnamese consumer. And, of course, it is necessary to choose business to which any changes or crisis aren’t terrible, as a rule, treat such ideas: public catering, hotel service, sale of clothes, etc.

What is the business to open a Russian citizen in Vietnam?What is the business to open a Russian citizen in Vietnam?

Statistically, foreign businessmen prefer to invest in the following types of business: restaurant and hotel business, rent, catering establishments, production of furniture, sale of clothes and footwear. We will consider how to start business in Vietnam to the citizen of Russia what offers will attract the consumer and what projects are simply forbidden.

So, the most widespread business – restaurant or cafe of Russian cuisine. The Russian tourists, Vietnamese who lived in Russia earlier and also locals become consumers. Vietnamese in these institutions are attracted by unusual dishes, live music, the warm atmosphere.

Besides, skilled businessmen note the following business – the ideas:

Internet cafe. These enterprises enjoy wide popularity in Vietnam. There is a lot of such points, each of them has regular customers. The main task of the Russian businessman is to attract the consumer with unusual design, interesting services, and profitable offers.

The catering establishment (a pancake house, dumplings, etc.) – is undoubted, will attract visitors with «the Russian exotic», traditional Russian dishes and a good-natured, warm situation. These institutions enjoy special popularity, of course, at Russians, temporarily or constantly living in Vietnam.

But also the local population willingly will visit your cozy small restaurant to try surprising, nourishing and exotic for Vietnamese, traditional Russian dishes.

Hotel business. This case, undoubtedly, profitably, but the main complexity consists, first of all, with the high competition. The organization of such type of business suits only the large companies. The main task – to attract the consumer with something new, unusual, to offer interesting entertainments and high level of comfort. Small private hotels are, as a rule, not profitable, also because of the serious competition to numerous five-star hotels. From this it follows that in this sphere only the large, known companies are recommended to do business.

It should be noted, before opening a business or buying a ready business in Vietnam, it is necessary, first of all, to exclude prohibited options. Illegal or prohibited by law business itself is included in this category, but in addition there are restrictions, in connection with which Russian citizens have no right to engage in the following areas of the economy:

Processing and cultivation of rice;

Cultivation of pearls;

Participation in the innovative projects which are of particular importance for the state (for example, construction of power plant).

This directions are strategically important for the state therefore the foreign businessman not only is forbidden to be engaged in this activity, but also simply it doesn’t make sense as the foreigner can’t succeed in these types of business.

Main features of doing business in VietnamMain features of doing business in Vietnam

Registration of the company which is completely consisting of the foreign capital can drag on for a period of several months before half a year. If the citizen of Vietnam owns a certain percent, then the procedure of registration lasts no more than 7 days.

Before opening of business or an investment of investments it is necessary to study surely market condition of this state and to choose business, not only suitable for the businessman, but also not causing the considerable competition in relation to the «radical» Vietnamese enterprises.

To simplify search and the choice of suitable business, it is possible to use legal services of firms which carry out sale of business in Vietnam to foreign businessmen. The main complexity consists not only in the choice of firm, but also in ability to keep documentation in Vietnamese and knowledge of the legislation of the country.

The opportunity to open a business in Vietnam is available to everyone! The main thing is to find the right direction, taking into account certain limitations and peculiarities of doing business in this country.

Stages of opening a business in VietnamStages of opening a business in Vietnam

Careful research of the Vietnamese market. Your offers have to be «novelty» for the consumer. Therefore it isn’t recommended to make investments in the habitual ideas, and to give preference to a services sector and entertainments and, of course, to restaurant business.

Payment of taxes. Vietnam treats the matter especially carefully therefore it is necessary to employ the accountant who will keep the corresponding reporting.

Set of personnel. It is required to get the official work permit for each employee. Some businessmen find an opportunity to avoid additional expenses, making out relatives or friends as cofounders.

Buying a business in VietnamBuying a business in Vietnam

Entrepreneurs who wish to skip the stages of studying the Vietnamese market and long-term clearance can use the services of legal companies and buy ready-made businesses in Vietnam.

But this issue must be treated very responsibly.

What should you look for?

At law firm existence of documentation confirming the right for implementation of this activity is obligatory.

Ready business has to have the corresponding registration, documentation, a certain authorized capital.

Can be engaged in sale of ready business both citizens of Vietnam, and foreigners. It is recommended to address compatriots who will be able to present full consultation on the matter.

Thus, business in Vietnam demands the maximum responsibility and attentiveness at each stage. It isn’t recommended to enter the competition or the conflict relations with Vietnamese extremely as the court will protect the rights of native people of the country.

It is recommended to use services of law firm which will be able competently to protect business from the competition, to resolve conflict situations, to carry out professional maintenance at each stage of your activity. Business in other state demands competent approach, constant improvement of professional skills, careful studying of documentation, a foreign language, the legislation of the country. At competent conducting activity you, undoubtedly, will be able to achieve excellent results!

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