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Vietnam Biz (any Kind Of...)


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maybe the wrong forum but i reckon many of thaivisa members do live/did live/travelled around Vietnam as well and maybe even some of them have/had biz in Vietnam...

could you forward your personal experiences please?

e.g.

visa/work permit procedures

quality of co-operation with local (viet) businessmen

process to establish a company

quality of co-operation with govt officials

risks, outlooks, statistics

and other stuff like that....

thanks!

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  • 2 years later...

Anyone get any valuable info or resources with regards to doing business in Vietnam.

I just came back from a scouting mission there sussing out the possibilities of setting up some property development. Initially, it looks interesting and we seem to have met the "right" people but am always interested in getting opinions of people on the ground!

ANy help is appreciated

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As I know advertising is probably not allowed on here due to Sunbelt being the sponsors, I do believe that sunbelt do not provide services to vietnam, so hope this is okay. My company Gottliebs Expat Tax Consuliting is expanding our services in South East Asia, and with our expertise and our many valuable contacts in Vietnam we are able to assist us in providing answers to your questions. Our company primarily provides tax advices, but we also provide business consultancy in South East Asia, with a heavy tax perspective aswell, which can save a lot of money in the long run.

We would be happy to help, so please check out the website to find out a bit about us or email below, and as we are building a name and reputation in South East Asia currently, our fees are very reasonable I should add.

http://www.gottliebs-expat.com

[email protected]

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Apologies, the site was down (problems with the server). But is up and running now.

When your website is up (not that i noticed it down) it doesnt say alot...

What servicves can you offer non-vietnaam citizens interested in opening a business in vietnaam ?

What are the credentials of the people tat can assist in vietnaam ?

B

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Interesting reply.

Actually, what we are looking at is land development.

We have met various businessmen and government officials and all seems to be well organised and very informative.

We have hired VIetnamese consultants to conduct the due diligence but what I am looking for is more "informal" opinion of people there on the ground. All the big fancy business reports are not enough on their own.

I have been here in Thailand so i know how it works but the guys with the money are UK based and a bit wet behind the ear when it comes to Asian Business dealings!

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Hi BobKhun,

The site hasn't got an information on vietnam specifically as we haven't been heavily targeting people from there yes, but we have been asked by a few clients to do some work for them relating to vietnam. As such, we have built up knowledge and valuable contact in this area.

We can mostly assist in vietnam with advice relating to tax, and advice relating to the forms of business that a foreigner can set up.

I myself have worked in international taxation for several years company advising clients on all manner of international taxation issues, structuring holding companies, payments etc. My firm has a vast network of contacts around the world, who when needed are called upon to help with more localised advice, which we interpret into a more understandable format and make recommendations upon for our clients.

I hope this provides you with some answers to your questions. If you would like to know anything more, please don't hesitate to ask.

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Concerning Vietnam, real useful contacts and informations I can maybe help.

Please send private message because I do not want to post any messages on a board anymore. The comments of some omniscient Senior members of this forum are sometimes very unpolite and out of subject. Please not forget your business mail address for further contact.

Apologize to all the kind people on this forum, but I believe they will not feel concerned.

regards

gp

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  • 2 weeks later...
I'm in VN. I love it here, it is bustling and offers a great lifestyle. I'm still hoping to give Bendix a job should he head this direction. Anyone have specific questions? I'll be happy to answer the best I can.

care to expand a bit on why vn is bustling and offers a great lifestyle...

heard that opening a business school in vn may be a good opportunity - but not my field...

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There is a ton of streetlife on every street, a dense population with something new every minute, not many cars, a high-quality and interesting expat population, any imported good you could want (vegemite, NZ tenderloin, Doritos, Ferragamo shoes, Guiness), plentiful work, newly built housing that is 1/4 of the US price, and beautiful girls to look at (although I'm married to a Thai and don't play around, I still love the au dai!). It is a fine lifestyle here. Don't believe what you hear about the lack of freedom, that ain't true once you are settled.

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There is a ton of streetlife on every street, a dense population with something new every minute, not many cars, a high-quality and interesting expat population, any imported good you could want (vegemite, NZ tenderloin, Doritos, Ferragamo shoes, Guiness), plentiful work, newly built housing that is 1/4 of the US price, and beautiful girls to look at (although I'm married to a Thai and don't play around, I still love the au dai!). It is a fine lifestyle here. Don't believe what you hear about the lack of freedom, that ain't true once you are settled.

Sounds very interesting ...

So is there a source of info for Vietnam like Thai Visa is for Thailand ? Or something close to it ?

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Corruption here is endemic, more so than Thailand (I have lived in both countries). Everything is based on "friendships",

You CAN'T own property as a foreigner, and real estate prices are near U.S. levels in Hanoi and HCMC. Rental yields are tiny, so property investment is risky. There was a boom, but now it seems to have cooled.

Shafting foreigners in deals seems perfectly acceptable practice.

Look at this link for an example of reality here:

http://news.bbc.co.uk/2/hi/business/5257270.stm

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  • 2 weeks later...
maybe the wrong forum but i reckon many of thaivisa members do live/did live/travelled around Vietnam as well and maybe even some of them have/had biz in Vietnam...

could you forward your personal experiences please?

e.g.

visa/work permit procedures

quality of co-operation with local (viet) businessmen

process to establish a company

quality of co-operation with govt officials

risks, outlooks, statistics

and other stuff like that....

thanks!

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:o

maybe the wrong forum but i reckon many of thaivisa members do live/did live/travelled around Vietnam as well and maybe even some of them have/had biz in Vietnam...

could you forward your personal experiences please?

e.g.

visa/work permit procedures

quality of co-operation with local (viet) businessmen

process to establish a company

quality of co-operation with govt officials

risks, outlooks, statistics

and other stuff like that....

thanks!

Hi,

It's very interesting to hear that you care about biz in Vietnam.First of all, I'm Vietnamese so you may think that I try to say something good about Vietnam but I truly think Vietnam now is much more open than before. Vietnam provide good investment environment to foreign investor. Administative agencies is now more transparent and all the precedure to set up a company will be supported by authority especially in IZ.

If you decide to open a biz in Vietnam, you can contact me for any assistance that I can provide. Currently, I'm working for Thai company(I can speak Thai and English) and know some persons can help you to set up a company in Vietnam, of course, if you find interested

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There is a ton of streetlife on every street, a dense population with something new every minute, not many cars, a high-quality and interesting expat population, any imported good you could want (vegemite, NZ tenderloin, Doritos, Ferragamo shoes, Guiness), plentiful work, newly built housing that is 1/4 of the US price, and beautiful girls to look at (although I'm married to a Thai and don't play around, I still love the au dai!). It is a fine lifestyle here. Don't believe what you hear about the lack of freedom, that ain't true once you are settled.

You are right, but for hollydays. Yes, Vietnam is great.

As for business, you are wrong. It's a very hard place to make business locally, as a foreigner.

Many companies, and even thai by the way, have burned themselves on this "market".

Everyone will try -and manage- to rip you off. From the top to the bottom.

-visa / work permit : they are tightening the rules especially for work permits (yes before easy, people were "buying" their visas)

-quality of cooperation : from none to none +1.

-process to open a company : big laugh, they 've changed completly the law governing foreign ownership. But we still don't have the application decrees. They even want to clamp down on "bureau de representation", a scheme that was using by foreign companies (to look around, start to evaluate the markets etc. and avoid taxes on profit)

-they want to attract big investements : not SME.

-fiscality : horrible (i mean very expensive)

-outlook : great. But you need to be "charged" with money and connexions if you want to make a profit of it.

Of course, if the name of your company is "Intel" then you will receive a different treatment... They are going to open a factory in VN.

Do not confuse VN with China. They still have very hardliners communist ideologists, especially in Hanoi.

VN is and will be very good source of suppliers. No doubt about it. But working locally on a small to medium scale, as a foreigner... keep the faith.

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