1. How to open a factory in Viet Nam ?
These are some common steps to open a factory in Viet Nam:
- Land leasing contract with the landlord or industrial zones.
- Get investment certificate from the department of planning and investing.
- Get business registration, other licenses like fire protection licence, environment protection licence, etc.
There are consulting companies like Clearview can do this work on your behalf and 80% through email.
2. How can I legally work and live in Vietnam?
All foreign workers in Vietnam must have a work permit if they work for longer than 3 months. If the employment is shorter then a business visa is enough.
A Work Permit in Vietnam is issued for two years. Application process takes about 20 days.
The first step of applying for a Work Permit is having an employer in Vietnam. Thus, to receive the permit, a foreigner must first know where they will work, not vice versa.
Let’s contact us to see the process of making work permit.
3. Tax rate in Vietnam is lowest among South Asia countries?
Yes, compared to other countries in South Asia like : India, China, Phillipines, Myanmar, Malaysia, Laos, Indonesia, Thailand, Cambodia. Vietnam is among the lowest at 20% corporate income tax.
Recent years the government of Vietnam even gives more precedences and tax incentives to investors : some industrial lines are taxed at 5, 10 percent or exempted .
Let’s see our post ‘Tax incentives in Vietnam’ for more detail.
4. Is Vietnam the best place to invest in South Asia?
There are some reasons that make Vietnam is the best place to invest :
- Tax incentives.
- Vietnam’s young and growing population.
- Strategic location.
- Trade agreements.
- Relatively low setup cost and labor cost.
- Stable politics.
5. How do i find a supplier in Viet Nam?
Here are some common sources to contact to supplier :
- Yellow pages association.
- Asian factories association in Viet Nam like : Korean chamber of commerce in HCM city, Hongkong business association of Viet Nam, etc.
- Vietnamese industry association.
- Local economic development and investment promotion agencies.
- Vnclearview.com : with experience of business and investment certificate registration for many companies.
6. The average cost to build a factory or warehouse in Viet Nam? the average wage of worker?
The cost of a factory is constituted by 2 factors: land and construction fee.
- Land: The price of land depends on the location. It varies from $50 to $90 per square meter.
- Construction fee: The construction fee depends on location,client’s standard,design etc.For example, the construction fee in an industrial zone about 40km from Ha Noi varies from $60 to $120 per square meter.
The average wage of worker in Vietnam is as lower as half of China’s and about $2 per hour.
7. EVFTA : What are advantages and preferences when EU companies come to Vietnam?
To EU companies : EVFTA is promoting a low cost manufacturing spot in Viet Nam and help diversify markets,export goods etc. Vietnam Committed for fair, equal, safe and adequate protection of each other’s investments and investors, will also contribute positively to building a transparent legal and investment environment, from which Vietnam will attract more investors from the EU and other countries.
Vietnam Government also gives many tax intencives to foreign investors who invest in industrial lines promoted by Vietnam government.
8. Can we rent a factory in Viet nam? compare to the cost of building a new one from the ground?
Yes, industrial real estate is booming in Vietnam recent years that includes factory and warehouse for rent, factory and warehouse ‘built to suit’ (build based on the design and requirement of customors).
The price for rent varies from $2 per square meter a month depending on location.
Compared to the cost of building a new one : $60 to $120 per square meter for 50 years.
Depend on your scale of business, your capital, your product. Let be wise to choose ‘rent’ or ‘ build new’. Or let reach us by email or leave a message in this website for the right consultancy.
9. Is Vietnam totally open to the world ?
Vietnam is totally open to the world. Since 2007 Vietnam has signed many important agreements with the world :
- Member of ASEAN and ASEAN Free Trade Area (AFTA).
- Member of World Trade Organisation (WTO).
- Bilateral Trade Agreement (BTA) with the US.
- Free Trade Agreement with the European Union-EVFTA (comes into effect in 2019).
- Member of The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTTP).
10. what is the easiest way to get Vietnam visa ?
1.The is a list of countries exempt from Vienam Visa. Check it out if you are in the list you just bring your passport to Vietnam airport and pass through. Read this article for more detail : https://www.vnclearview.com/vietnam-visa-exemption/
2.If your plan to visit Vietnam for a short time with limited entry you can apply for : Visa on arrival or E-visa with 100% application by online. Read this article for the detail : https://www.vnclearview.com/e-visa-and-visa-on-arrival/