Investment In Vietnam

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FDI ENTERPRISES IN VIET NAM
THE LOCAL REQUIRED COMPLIANCE PROCEDURES

FDI enterprises in Viet Nam shall properly comply with the local laws and regulations to avoid and prevent the risks in advance.

FDI COMPANY IN VIET NAMANNUAL AUDITED FINANCIAL STATEMENTSForeign direct investment (FDI) enterprise means an organizati...
24/07/2026

FDI COMPANY IN VIET NAM
ANNUAL AUDITED FINANCIAL STATEMENTS

Foreign direct investment (FDI) enterprise means an organization whose members or shareholders are foreign investors, established and operating in accordance with Vietnam’s laws that carry out business investment activities. Foreign investor means an individual holding a foreign nationality or an organization established under foreign laws and carrying out business investment activities in Vietnam.

NOTICE ON FINANCIAL STATEMENTs AUDIT

According to the Dispatch No. 17/2012/NĐ-CP dated 13/3/2012 of the Ministry of Finance, the companies below must have their annual financial statements audited:

- Foreign-invested companies;

- The credit institutions established and operated within the Law on credit institutions, including branches of foreign banks;

- Financial institutions, insurers, reinsurers, insurance brokers, branches of foreign non-life insurers;

- Public companies, the organizations that issue and trade in securities;

- Other companies and organizations that must be audited according to relevant laws; the companies and organizations that must be audited by foreign auditors or their branches in Vietnam.

HOW TO EFFECTIVELY SAVE AUDIT COST OF ANNUAL FINANCIAL STATEMENTs REPORT

- Identify audit objectives, workload and choosing suitable auditor in advance.

- Get audit schedule and contract signed within the last quarter of the fiscal year to avoid busy season

- Effectively file and manage documents and business records in a clear and accurate manner (Business Record Management)

- Having professional accounting system as well as skilled staff to provide information and explanations when needed.

It is highly recommended to find a prestigious audit party and sign audit contract to efficiently control the workload and avoid the busy season ( January to March) as well as to ensure service quality and get the best service price.

📑 BUSINESS COMPLIANCE ADVISORY SERVICES IN VIETNAMVietnam-based representative office of a foreign investor means a depe...
21/07/2026

📑 BUSINESS COMPLIANCE ADVISORY SERVICES IN VIETNAM

Vietnam-based representative office of a foreign investor means a dependent unit, a lawful office in Vietnam, allowed to recruit staff to manage and promote sale contracts with local business partners, research and develop products, seeking opportunities for the purchase or sale of goods and provision of services. A foreign representative office is a simple form of investment in Vietnam to enhance business from overseas, with multiple advantages while fewer risks regarding the required business compliance procedures such as investment capital, tax, accounting, and auditing. And it is easy to be extended or terminated or dissolved. The expatriate employees who work for representative office can obtain work permit and two years multiple visa (temporary residence card) for themselves and their family in Vietnam.

WHEREAS

▪️ Any enterprise in Vietnam shall be complied to local laws and regulations including commercial, tax, accounting, labor, investment…

▪️ There are daily mandatory procedures on tax management, payrolls, compulsory insurances, accounting, finance, contracts, disputes and lawsuit cases… the CEOs have to make their decisions.

▪️ Many investors have been paying for the same lessons due to violations with local business laws and regulations.

▪️ Many investors are looking for a one stop solution: Professional person in charge and representative – Local expertises – Plenty and instant solutions – Long term relationship – Back office with full teams and resources…

VIVA is the business consultant who specializes in local business compliance procedures since 2006. Our exclusive service in Vietnam is consistent of practice expertise in business laws – employment relations – tax and accounting –corporate finance – Internal management and internal audit.

We have been continuously trusted thousands of leading companies from Japan, US, EU, Singapore, India, China, Korea…. in such industries: Garment, energy, pharma, advertising, agricultural… Our signature in every service we do is bespoke manner, one stop solution, valued by final result, optimal and over expectation thanks for our powerful practical expertise and business resources.

OUR MONTHLY ADVISORY SERVICE SCOPES

Hand in hand for daily operation service – Chief of Operation Officer service

General corporate and commercial advisory

▪️ Advise on all aspects of general corporate and commercial law including drafting of contracts/agreements.

▪️ Advise on the legal and regulatory requirements / practical cases for operating in Vietnam in most industries: Tax – Accounting – Finance – Audit – Labor – Investment – Compliance Administration…

▪️ Legal due diligence and deals support advisory

▪️ Hand in hand in deals advisory, provide comprehensive transaction services including structuring advice, legal due diligence investigations, preparation of transaction documentation and other deal support services.

▪️ Analyze all the transactions actually occurred. Classification of the transactions and establish relationships inside and outside of each transaction. Revise and complete the dossier for each transaction and follow up the report with current regulations and policies of the company.

Manage employment relations

▪️ Employee profile, Performance of labor contracts, Modification, supplementation and termination of labor contracts, Wages/Payroll procedures, working time and rest time, Labor discipline and material responsibilities, Compulsory social insurance – Trade unions – Personal income tax, Update and apply for new regulations from the authorities.

▪️ Setting up standard and rules to guarantee all labor transactions meet full legal requirements and guarantee for optimal payable amount of Social & Health Insurance, personal income tax. Setting up process and forms, guide every department and person in the company to follow the requirements. Setting up system of standard folder to manage the business records as lawful proves for each transaction. Prepare labor contract and manage all the compliance labor registration / labor update, reports to submit, explain, negotiate at authorities. On behalf of the company to settle any issue from the authorities accordingly. On behalf of customer to explain and settle any query or complain from employees. On behalf of customer to explain and settle any requirement from related authorities.

Legal compliance/Company secretarial

▪️ We keep you up to date on developments in legislation that may affect the businesses and assist you with legal compliance requirements and company secretarial matters.

▪️ Consulting for all others administrative procedures and on representative on behalf of client for any requirement from state agencies.

▪️ Department of: Industry and Trade, Culture, Sports and Tourism, Natural Resources and Environment, Transportation, Education and Training, Science and Technology,

▪️ Planning and Investment, Foreign Affairs, Tax Bureau, Agriculture and Rural Development, Labor & Invalids and Social Affairs, Justice, Construction, Investment and Trade Promotion Center, Customs Bureau, Statistics Bureau…

Typical required compliance procedures

▪️ International and Domestic Investment.
▪️ Deal, Investment, M&A.
▪️ Tax management
▪️ Business Licenses, Administration.
▪️ Daily Regulatory Affairs.

Stakeholder management

▪️ Banks, Financial Institutions.
▪️ State Agencies, Government.
▪️ Customer Relationship.
▪️ Dispute, Corporate Rights.

Internal control, process management

▪️ Organizational Structure & Process.
▪️ Business Record Management.
▪️ Shareholders Roles and Duties.
▪️ Internal Labor Regulations.
▪️ HR Management.
▪️ Internal Audit.

Internal audit for business compliance procedures

▪️ Audit for required business records, compliance reports, lawful invoices and documents regarding to: Business licenses; Tax management; Accounting and financial statements; Employment relations; other business administration procedures and requirements by laws.

▪️ Identify any violation, exist and potential risk with correction actions.

▪️ Prepare management letter to the Board of directors.

OUR SERVICE FEES

▪️ Unlimited in query or question via email, telephone, mobile phone.
▪️ Unlimited video meeting with our expertises in tax, accounting, employment, business laws and regulations.
▪️ Monthly management letter about new laws and regulations and related matters.
▪️ Hours of visiting and meeting with our CEO and Senior consultant for actual cases.

Our expert knowledge and very practical experienced in local business culture as well local regulations, we can meet every of your expectation in a tailored and bespoke manner. We look forward to serving and deliver the best business services for you, as what we have been doing to our loyal clients since 2006.

Please contact our expertises should you have any further query about the conditions, required papers and procedures.

👉 Read more information: https://vivabcs.com.vn/.../business-advisory-services.../

FOREIGN LOANS SUBJECT TO REGISTRATION WITH THE STATE BANKForeign direct investment (FDI) enterprise means an organizatio...
17/07/2026

FOREIGN LOANS SUBJECT TO REGISTRATION WITH THE STATE BANK

Foreign direct investment (FDI) enterprise means an organization whose members or shareholders are foreign investors, established and operating in accordance with Vietnam’s laws that carry out business investment activities. Foreign investor means an individual holding a foreign nationality or an organization established under foreign laws and carrying out business investment activities in Vietnam.

Small and medium-sized enterprises, as well as FDI companies, can take foreign loans under the provisions of Circular No. 12/2014/TT-NHNN, March 31, 2014, on taking foreign loans applied to companies not guaranteed by the government. Foreign Loans subject must be registered with the State Bank.

THE KEY TERMS

- Short-term foreign loans without guarantor are foreign loans with maturities of up to 01 year and are not guaranteed by the government.

- Mid-term and long-term foreign loans are foreign loans with maturities longer than 01 year and are not guaranteed by the government.

- A foreign loan as a conventional loan means foreign borrowing through borrowing contracts, deferred payment contracts for import of goods, lending entrustment contracts, contracts for finance leasing or debt instrument issuance on the international market of the borrower.

EVERY BORROWER IS ALLOWED TO

- Implement the business plans or projects of investment funded by foreign loans of the borrower.

- Restructure the foreign debts incurred by the borrower without increasing the loan expense.

REQUIREMENTS APPLIED TO CREDITORS

- Requirements for taking short-term foreign loans: Creditors must not take short-term loans to serve mid-term and long-term purposes.

- Requirements for taking mid-term and long-term foreign loans: If the creditor has a project of investment funded by foreign capital that has a certificate of investment, the total midterm or long-term loan (including the domestic loans) taken by the creditor to serve the project must not exceed the difference between the total capital and the contributed capital in the certificate of investment.

- If the creditor takes the foreign loan to execute a business plan or project of investment that does not have a certificate of investment, the total midterm or long-term loans (including the domestic loans) taken by the creditor must not exceed the need for loans serving business plan or project of investment, which has been approved by a competent authority.

- A foreign loan agreement must be made in writing before the loan is released.

FOREIGN LOANS SUBJECT TO REGISTRATION WITH THE STATE BANK INCLUDE

- Mid-term and long-term foreign loans.

- Renewed short-term loans that have more than 01 (one) year of maturity term.

- Short-term loans which are not covered by any loan renewal contract but remain the outstanding principal owed on the anniversary of the date of first fund withdrawal in a full 01 (one) calendar year, except to the extent that borrowers have already fulfilled their debt obligations within a permitted duration of 10 (ten) days after the anniversary of the date of first fund withdrawal in a full 01 (one) year.

CASES IN WHICH REGISTRATION FOR CHANGES OF FOREIGN LOANS IS REQUIRED

- If there is any change to contents relating to loans referred to in the confirmation of foreign loan registration given by the State Bank, the borrower shall be responsible for making registration for changes of his foreign loan with the State Bank.

- If the plan for fund withdrawal, debt repayment, and actual fee remittance is changed within a permitted duration of 10 (ten) days as against the one previously approved by the State Bank, the borrower shall be responsible for notifying in writing the account service provider to carry out fund withdrawal and debt repayment according to the changed plan; By doing so, registration for changes of such loan with the State Bank shall not be required.

- The borrower shall only notify in writing the State Bank and shall not apply for registration of changes of loans in respect of the following contents

+ Change of the borrower’s address in the city or province where the borrower’s head office is located.

+ Change of the creditor, related information about creditors in respect of a syndicated loan that designates the representative for creditors, except when a creditor is also the representative for creditors in respect of a syndicated loan, and any change of creditors that may entail changes to the roles of the representative for creditors.

+ Change of the commercial transaction name of the account service provider.

EXPATS IN VIETNAMMANAGING LABOR RELATIONSIn addition to common labor procedures, foreigners working in Vietnam must also...
16/07/2026

EXPATS IN VIETNAM
MANAGING LABOR RELATIONS

In addition to common labor procedures, foreigners working in Vietnam must also comply with a number of particular regulations. Managing labor relations for foreigners, if done correctly at the beginning, can simultaneously prevent risks and optimize on taxes and insurance payables.

With our extensive expertise and hands-on experience, VIVA would like to present you our services for managing labor relations for foreigners working in Vietnam as follows.

MANAGING EMPLOYEES’ PROFILE AND DRAFTING LABOR CONTRACT

- Dependent information.
- Professional certification and experience.
- Letter of Appointment.
- Offer letter.
- Labor Contract.
- House rental contract.

Employee’s Profile is mandatory for businesses. For the foreign employees, they are related to work permits (WP), temporary residence cards (TRC), declaration and payment of personal income tax (PIT), opening of bank accounts… Foreigners should understand thoroughly the requirements of each document, store and update them fully to meet the requirements of local authorities while working in Vietnam.

Labor contracts are very important that identify rights and obligations between employees and businesses. Besides, labor contracts are also related to compulsory personal income taxes, insurance, and procedures for receiving salaries, and remitting them to their home countries. Failure to manage the labor relations in terms of formality, contents and provisions in the labor contracts will result in serious disputes or increase the tax payables and interfere in your work.

WORK PERMITS AND TEMPORARY RESIDENCE CARDS

- The foreign employees have to present their work permits when entering and exiting Vietnam and upon requests of the competent agencies. A foreign employee who does not have a work permit will be deported out of Vietnam in accordance with the regulations of the Government. The person employing foreign employees without work permits will be subject to penalties under the laws.

- However, unlike a Visa, a TRC has a longer term of validity usually from 1 year to 5 years. A foreigner having a TRC does not need a Visa. He can enter and exit the country multiple times for work within the term of the TRC, saving time and money. In addition, the card holder can sponsor his or her relatives to be issued a TRC with the same term.

- After being granted a WP and a TRC, a foreigner can open all types of bank accounts, credit cards, savings books and enjoy all the services provided by the banks just like Vietnamese nationals.

CALCULATING SALARIES AND MANAGING TAXABLE INCOME

- The salaries of the foreigners are not only based on the agreement between them and the employers, but also must be in accordance with the nationality, expertise, experience and position. In case the salaries are inadequate, the Tax department will carry out inspection and verification domestically and abroad, affecting the foreign employee’s work.

- In addition to salaries, the foreign employees can enjoy other benefits such as travel expenses, rent, accommodation fees, insurance, school fees for their children, vouchers…which may be subject to personal income taxes or not, depending on the cases. Many foreigners have incurred personal income taxes and penalties because of failure to manage these incomes correctly.

- The salaries of foreigners can be in USD or other currencies. Each bank will have different requirements for payment in foreign currency.

SOCIAL INSURANCE AND COMPULSORY HEALTH INSURANCE

- Foreigners working in Vietnam must participate in social insurance when granted a WP or a practice certificate or a practice license by competent authorities in Vietnam and have Indefinite-term labor contracts, labor contracts with a definite term of 01 year or more with the Vietnamese employers.

- In relation to the premium rates of the employee, from January 01 2022, a foreigner working in Vietnam must participate in social insurance. He will pay 8% of his monthly salaries to the retirement and survivorship allowance funds. Concurrently, the employer will pay the social insurance premiums calculated on the monthly salary funds on which social insurance premiums are based every month as follows: 3% to the sickness and maternity fund; 0.5% to the labor accident and occupational disease fund; 14% to the retirement and survivorship allowance fund from January 01 2022.

- If a foreign employee enjoying retirement pensions and monthly social insurance allowances does not reside in Vietnam anymore, he can authorize another person to take the retirement pensions and monthly social insurance allowances. The foreign employee can receive all of them at once, if he wants.

Read more: https://vivabcs.com.vn/resources/employment-relations-management/managing-labor-relations/

INTERNAL AUDITTHE REQUIRED BUSINESS RECORDS AND PROCEDURESCompliance procedures for domestic and foreign corporations ar...
14/07/2026

INTERNAL AUDIT
THE REQUIRED BUSINESS RECORDS AND PROCEDURES

Compliance procedures for domestic and foreign corporations are slightly different from compliance procedures for foreign representative offices in Vietnam. However, any businesses in Vietnam should obtain an internal audit plan to review tax, employment relations, payroll and compliance reports.

The plan below covers major and typical tasks for a successful internal audit of your business.

A. TAX – ACCOUNTING
1. Review Tax Declaration:

- VAT Tax.
- Corporate Income Tax.
- Personal Income Tax.
- Foreigner Contract Tax.
- License Tax.

2. Review Tax Payment:

- Tax receipts.
- Inspect declared tax.
- Inspect paid tax.
- Evaluate tax balance – situation with the tax agency.

B. LABOR AND PAYROLL
1. Personnel record:

- Local employee record.
- Foreign employee record.
- Dependent relief record.
- Labour contracts and annex.
- Salary vouchers and documents.
- Tax withholding payment vouchers and receipts.
- Records of pregnancy, leave out, accident…

2. Labor compliance management:

- Employment record.
- Pay-scale.
- Declaration and payment of insurance.
- PIT declaration and settlement.
- Payment vouchers.
- Review payable and paid amounts to the state agencies.
- Foreign employees compliance procedures.

3. Salary and other Employment relations policies:

- Analyzing the payroll, structuring salary based on corporate divisions and individuals.

- Examining personnel record, KPI.

- Collecting employee’s attendance information, performance for payroll.

- Evaluating and updating labor regulations, rules and agreements.

- Announcing business results, achievement, KPI, salary and bonus for each employee.

LEGAL REPRESENTATIVE OF ENTERPRISE IN VIETNAMROLES AND RESPONSIBILITYThere is only a business Laws system for both local...
07/07/2026

LEGAL REPRESENTATIVE OF ENTERPRISE IN VIETNAM
ROLES AND RESPONSIBILITY

There is only a business Laws system for both local and foreign investors to do business in Vietnam, deals with the establishment, organization, restructuring, dissolution, legal representative and relevant activities of enterprises, in forms of limited liability companies, joint-stock companies, partnerships, sole proprietorships, and groups of enterprises.

It would be our pleasure to share with you for any query or question about the terms and conditions as well as practical cases which we have been experiencing since years 2000, where the first law on enterprise has allowed private sector to born and blooming.

REGULATIONS ON THE LEGAL REPRESENTATIVES

Legal representative of an enterprise is the individual that exercises the rights and fulfills the obligations on when making transactions on behalf of the enterprise, represents the enterprise as the plaintiff, defendant, and person with relevant interests and duties before the arbitral tribunal, the court, exercises other rights and fulfills other obligations as prescribed by law.

A Single Member limited liability company, Multi-Member Limited Liability Company or joint-stock company may have one or multiple legal representatives. The quantity, titles, rights and obligations of legal representative of the enterprise shall be specified in the company’s charter.

There must always be at least one legal representative that resides in Vietnam. If the enterprise has only one legal representative, such person must reside in Vietnam and authorizes another person in writing to perform the legal representative’s rights and obligations when leaving Vietnam. In this case, the legal representative is still responsible for the performance of delegated rights and obligations.

In case the legal representative does not return to Vietnam at the end of the authorization period and does not give another authorization:

- The authorized person of the sole proprietorship shall keep performing the legal rights and obligations within the scope of authorization until the legal representative goes back to work at the enterprise;

- The authorized person of the limited liability company, joint-stock company, or partnership shall keep performing the legal representative’s rights and obligations within the scope of authorization until the legal representative goes back to work at the enterprise, or until the company owner, the Board of members, or the Board of Directors decides to designate another person as the legal representative of the enterprise.

If the enterprise has only one legal representative and such person is not present in Vietnam for more than 30 days without authorizing another person to act as the legal representative, or such person is dead, missing, detained, sentenced to imprisonment, or legally incompetent, then the company owner, the Board of members, or the Board of Directors shall designate another person as the legal representative.

With regard to a limited liability company with two members, if the member who is the legal representative of the company is detained or sentenced to imprisonment, decampment, is missing or legally incompetent, or is banned from practicing by the court for smuggling, producing counterfeits, running illegal businesses, tax evasion, fraud, or another crime defined by the Criminal Code, the other member is naturally the company’s legal until the Board of members makes a decision on company’s legal representatives.

In some special cases, the Court is entitled to appoint the legal during the proceedings.

RESPONSIBILITIES OF THE ENTERPRISE’S LEGAL

- Performing the given rights and obligations in a truthful, careful manner to ensure the enterprise’s lawful interests;

- Acting in the best interest of the enterprise; do not use information, secrets, business opportunities of the enterprise; do not misuse the position, power, or property of the enterprise for self-seeking purposes or serving the interest of other entities;

- Timely and fully notifying the enterprise that the representative and his / her related individuals own or have controlling stake or share in other enterprises.

- The legal representative of the enterprise is personally responsible for the damage caused by his/her violations against the obligations.

06/07/2026

EMPLOYMENT RELATIONS IN VIETNAM
According to international ESG governance standards

Part 3: PLATFORMS TO HELP MANAGE THE LOCAL LABOR RELATIONS

In order to comply with labor law regulations and comply with ESG scoring criteria, businesses need to operate the following basic platforms simultaneously:

- Complete and promulgate Internal Regulations – labor discipline, collective labor agreements, personnel handbooks.

- Complete and promulgate the Regulation on salary and bonuses.
Complete – promulgate – register and apply the salary scale system.

- Complete the system of forms on labor contracts, drafting and issuance regulations.

Organize the creation and storage of the entire system of labor relations compliance records according to standards and systems to meet requirements from state agencies and ESG scoring criteria.

On the occasion of its 20th anniversary, VIVA Business Consulting implements a comprehensive labor relations inspection and improvement program for corporate clients in Vietnam to meet local regulations and ESG criteria, eliminate risks and create sustainable governance foundations.

Please contact our experts for tailor-made advice on how to enforce the criteria and procedures.

02/07/2026

EMPLOYMENT RELATIONS IN VIETNAM
According to international ESG governance standards

Part 2: LAW AND REGULATIONS IN LABOR RELATIONS IN VIETNAM

Labor relations management must always meet 03 groups of regulations at the same time:

1. Between enterprises and employees through the development of internal regulations and policies, management of employee records, establishment and administration of labor contracts, salary calculation, salary cost management, evaluation, human resource arrangement, reward, discipline and termination of labor relations.

2. Between enterprises and local Labor Departments through labor registration, salary scales, labor regulations, collective labor agreements, reporting, responding to requests, handling labor disputes.

3. Manage the relationship between enterprises and tax authorities through the control of labor relations records, salary vouchers, management of personal income taxes for both domestic and foreign employees, management of salaries and amounts related to payable corporate income tax.

Look forward to our next video to find out the platforms that help manage local labor relations.

30/06/2026

EMPLOYMENT RELATIONS IN VIETNAM
According to international ESG governance standards

WHY TO MANAGE EMPLOYMENT RELATIONS ACCORDING TO ESG?

ESG (Environmental, Social and Governance) is a set of international standards for measuring sustainable development, risk management, and codes of conduct for a business in the course of operation.

Employment management is one of the pillar criteria of ESG - Social
This pillar focuses on the relationships of businesses with people and communities. The core criteria include:

1. Comply with the labor law and regulations, maintain working conditions, health, safety and the rights of workers.

2. Data protection, customer and consumer privacy.

3. Community contribution activities and social responsibility.

Meeting ESG labor relations management standards helps to comply with the law, reduces risks and enhances reputation, meets international export standards and builds a sustainable brand image in the eyes of consumers, attracting investment funds and banks to pour capital thanks to high ESG scores.

In the next video, we will explore how employment relations in Vietnam are governed through three key regulatory relationships: With employees, local Labor Departments, and tax authorities.

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343 Pham Ngu Lao Street, Pham Ngu Lao Ward, District 1, HCMC
Ho Chi Minh City
700000

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