Q&A about software company in Vietnam

Nội dung bài viết

Q: For a software production company, what will the taxes be? I will be the sole owner and director (foreigner as per Vietnam laws). 

A: The main taxes which a software production company shall pay include: Corporate income tax (20% of profit), Value added tax (10%) and Licensing Tax (50-150USD/per year)

Q: Please clarify what is meant by "investor". Do I have to deposit a certain amount as capital for my company? Or can it be $0? 

A: Investor means an organization or individual that makes business investments. If you are an investor, you shall contribute/own a certain capital in a company.

Q: After the company is setup, am I eligible for permanent residence card? Or only temporary? My current passport is valid till 2022; so my temporary residence card will be valid till then and then renewed? What are the requirements for each type of card? 

A: You shall be eligible for temporary residence card which shall be treated as multi-entry business visa. Temporary Residence card shall be valid from 1-3 years, renewable. Here in below is requirements for permanent residence permit and temporary residence permit for your comparison:

a.Cases in which grant of permanent residence status is considered:

- Foreigners who have contributed to the development and protection of Vietnam and are awarded medals or titles by Vietnam’s government.

- Foreigners who are scientists or experts temporarily residing in Vietnam.

- Any foreigner sponsored by his parent, spouse, or child who is a Vietnamese citizen and has a permanent residence in Vietnam.

- Any person without nationalities who has had a temporary residence in Vietnam from 2000 or earlier.

b. Cases in which temporary residence cards are issued

- Foreigners being members of diplomatic missions, consular offices, representative offices of international organizations of the UN, intergovernmental organizations in Vietnam, their spouses, children under 18 years of age, and housemaid that go along during their term of office shall be issued with temporary residence cards with the symbol NG3.

- Foreigners issued with LV1, LV2, ĐT, NN1, NN2, DH, PV1, LĐ, TT visas shall be issued with temporary residence cards with the same symbols.

Q:You will seek documents via email or postal service? 

A: Some documents you can send us via email when we prepare dossier. However, when we submit the dossier to the competent authority, we will need original or consularized documents that you have to send us via postal service.

Q: Can you please provide me the full cost of the process? 
- Cost of company formation (including state fees as well as any startup capital)
- Cost of residence card
- Cost of translation and bank charges

- The cost of company formation is 4,400 USD (including VAT)

- The cost residence card is 550 USD (including VAT).

- VAT is 10% of the cost of company formation and residence card.

- Translation cost depends on the amount of documents to be translated (for translation of documents from English into Vietnamese is 10 USD per 150 words). If you invest into Vietnam under your personal name, we anticipate that the translation cost shall be about 30-50USD.

- The bank charge shall be about 25USD.

Q:Further, how shall payment be made? Is there an advance or partial deposit? You would be fine with a bank transfer or PayPal? 

Method of payment: By T/T to the SB Law account

You will pay us an advance payment which is equivalent to 50% of the total estimated services fee.


Contact us for 24/7 consulting support

    Related Posts