Want to setup a company? This will tell you about tax laws in Vietnam, reading this will help you becoming knowlegeable on the specific tax laws and rates for a LLC - (Wholly Foreign Owned) which is the most common company type in Vietnam.
VN has a tax on foreign earned income from outside the country separately then it it was earned within the borders. Theheadline estimated rate for income remitted, from our research, and this is not personal tax advice, is 0%. Vietnam doesn't have known exemptions to transfer in foreign earned profits earned outside the borders. Taxes are very reasonable in Vietnam as the income corporate tax rate is 22%. This ranks Vietnam as 86th overall in terms of corp. taxation rate internationally. . .
The value added tax (VAT) rate in VN is 10.00%, that ranks Vietnam as 86th overall in terms of VAT taxation rate internationally. In terms of other taxation, an employer will contribute 1,700.00% to the equivalent of a social security fund and an employee will contribute 7.00%. The overall complexity of the tax system is high. This is measured by average time to comply with a country's labor tax requirements is as it is 335hours. Contributing to this is the number of yearly labor tax payments, which is 1 in VN.
Thin cap restrictions aren't in effect. Thin capitalisation refers to any sort of laws on a business and the debt-to-asset ratios. A dividend is payments of an earnings of the business, determined by the board of directors, to a class of its shareholders. Dividends can be either cash payments, shares of stock, or other property. The capital gains rate in VNis 0%. A capital gains tax is levied on the profits that a corporation or natural person realizes when they sell sells a capital asset for a price that is higher than the purchase price.
The interest witholding rate is estimated at 0This means that the tax authorities expects to automatically withhold 0 of payments abroad for interest payments. The dividends witholding rate is 0This means that the tax authorities expects companies to withold 0 of money remitted abroad for dividend payments. The royalties witholding rate 0 Which means that the taxman expects to withold 0 of payments offshore for for royalty payments.
There is no known tax on wealth in Vietnam. There are inheritance taxes in VN placed on an estate. We are aware of popular and well known research and development tax incentives in Vietnam.
The above is not tax or legal advice for your particular circumstances. We are able to to refer you to an expert in Vietnam who can properly advise you. Ready to get started? Click the free consultation button above.
It takes approximately 217 hours to file and prepare documents for a Vietnam Civil Law.
The corporate tax is approximately 22% which is 86 in the world.
Owners of a company in Vietnam are not allowed to carry back a loss and may be allowed to carry forward a loss for 5 years.
The vat rate in Vietnam is 10% which ranks 43 in the world.
Thin capitalization rules are not in effect.
A corporate director is permitted, meaning this country is a good option if you are setting up a structure where you want to protect director liability.
The directors are disclosed in the public registry of Vietnam, Agency of Business Registration. Shareholders are disclosed in the Agency of Business Registration.
Typically companies take 12 weeks to setup and there are 1 director(s) required and 1 shareholder(s) required at the time of incorporation.
Overall we think Vietnam is a good option and have given it a score of 81 as an IO score, using the Incorporations.IO proprietary formula.
We can help you form a company in Vietnam. Click the button above for a no-obligation quote. We will provide you with all the necessary documents to open a bank account as well as a registered office in Vietnam, which is required by law.
We can help you with your incorporations needs for an initial payment of just $1000.
Easy Step by Step Process:
The standard process typically takes between two (2) to three (3) weeks depending on when we receive all the required information from you. Once we receive your information, we will email you a complete set of documents for your review within 3 working days upon confirmation of payment. After executing the documents, you will need to mail them to us and we will formally submit your application for filing with the Registry. The Registry will then take about 3-8 working days to process the incorporation and produce certificates necessary for opening your bank account.
Applying for Your Bank Accounts:
Incorporations.IO maintains close working relationship within our extensive network of partner banks to help you apply for and receive banking services that are most appropriate to your specific situation. From the time of verification of incorporation it can take (1) one week to (2) two weeks to apply for and receive a bank account. We work primarily with banks that allow for remotely opened accounts to ensure you are ready to do business as soon as possible.
Applying for Payment Processing:
We include introductions to payment processors or merchant accounts with all of our incorporation services. Whether you just need standard credit card processing or specialized services for high risk processing, we have partners that can assist you and are happy to help you with introductions that can empower your business.
Start Online or via Phone:
We can get started for you whenever you are ready via a US$1000 initial payment via credit card. I get notified whenever a payment is made here and would send out the welcome letter and initial forms we would need within 12 hours. If you prefer, we can also process via a phone or Skype call.
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