Doing business in Vietnam
I am interested in knowing if there are any NHs that can recommend appropriate paths, preferably inexpensive, yet legal, for establishing a business. I don't know any good lawyers (yet) and don't want to get taken for a ride by someone who says they know what they are talking about but actually don't...a common problem most of us who have been here a while know.
As always, it is hard to get a straight answer from anyone and there are a lot of conflicting views. I have had a PA who tried to register a company for me in the past but she was turned away for not having completed the documents properly with no feedback on why. (I suspect this is a veiled request for a stuffed envelope)
I am looking for any 'sherpas' someone who has walked these paths before and knows what they are talking about.
I've been here nearly 2 years and haven't found the answers myself, so now I turn to the NHs, perhaps where I should have started.
If I want to open a cafe, English language centre, consulting company etc...
Question:
1. Who should I contact first? Do they speak English?
2. What steps will I need to go through?
3. How much time should I expect?
4. How much money in legals/administration should I expect to part with before I can actually open the doors for business?
5. I have also heard that before I am NOT allowed to do any market research, I need to set up a company/business first. WTF? Is there someone I can contact who can legally do market research for me?
6. Is there much benefit in joining the British or Aussie chambers of commerce? At $500 a membership without knowing the benefits, it's seems a bit steep
7. Tax consideration
8. Joint venture? Limited Liability Partnership? Anything else?
9. Dare I say 'how long is a piece of string?'
I'm not quite cashed up enough to employ Ernst and Young or Price Waterhouse Coopers, so any advice, support, knowledge would be well appreciated, private messages welcome.
(Guffman)
Answer:
Most, if not all, of the above questions largely depend on what kind of business you want to open.
I realize that you don't want broadcast the details of your intended business on here before you get anything moving, but the number of variables in this general scenario will lead to answers varying so wildly that they may possibly be more confusing than your current state.
(Alpha)
I'm working with a Vietnamese business owner who is taking me through the steps to open my business. I'm in the same position as you, so I am using my local contacts as resources. Frankly, I'm not very well-versed in such things, but the two of them have helped tremendously. No doubt there are others on TNH who will have more specific info, but even with that info, my local advisors have proved invaluable.
(Dawnation)
Guffman, might I suggest that you have a direct talk to some of the foreigners who have opened businesses here? Without mentioning any business names specifically thereby avoiding administrator wrath, a few come to mind such as the guy who recently opened a hamburger shop, another guy who has for years run a bar featuring exclusively Grateful Dead cover bands as entertainment, etc...people at the current English schools, an certain gentleman with a seemingly Irish screen name implying his "Mccoolness", who frequents these boards and seems to be opening a gymnasium of sorts?
These people would know.
(NickinNam)