Offshore company in Vietnam in 5 days
An offshore company in Vietnam is an affordable option compared to neighboring countries. Labor costs are relatively low, and the economy is stable. The lack of various conflicts attracts investors. The government supports startups and offers tax incentives.
The government encourages investment by lowering the corporate tax rate and granting rent reductions. There is an opportunity to get VAT delay and exemption from import duties. To clarify in more detail the nuances of opening an offshore company in Vietnam in 2021, contact our experts at IT-OFFSHORE.
Advantages and peculiarities of taxation
Registering an offshore company in Vietnam in 2021 has a number of advantages. The country is politically stable and is notable for its well-developed legislation and the provision of tax benefits. The territory has been removed from the gray list of offshore zones. The country has signed many agreements to avoid double taxation and has a free trade agreement with the EU.
If operations are not carried out in Vietnam, the rate is 0%. The government provides incentives for companies operating in certain industries. The average corporate income tax is 20%, but it can be reduced by 10-17%.
How to start a company
Before registering a firm in Vietnam in 2021, it is required to establish whether the shareholders will include local residents, or ownership will be entirely foreign.
Opening a firm will be possible if there is an opportunity to invest in the country. It is necessary to prepare a project related to investment, obtain a certificate certifying the registration of the company.
There are certain obligations such as preparation of the list of directors and shareholders, opening an account and registration of the legal address, and renting an office. Collecting documents for the tax office will be required. To create an account you will need to provide documents from the tax office which confirm the fact of registration. Passport of the director and information about residence permit or temporary residence permit are required. In addition, other documents may be required. The account is usually opened for one year; if you plan to close it prematurely, you will need to pay a tax credit.