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Starting a business in Vietnam: Cost of setting up a company in Vietnam

Cost of setting up a company in Vietnam

From

US$ 499 Service Fees
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1. Vietnam company formation fees

Type of CompanyService fee for 1st yearService fee for year 2+Government fee & Service charged
Wholly foreign-owned LLC (100% foreign-owned company in Vietnam)US$ 649.00US$ 0.00US$ 199.00
Partly foreign-owned LLC (The Vietnam joint venture company)US$ 519.00US$ 0.00US$ 199.00

(*) Note: There is no Company Renewal fee for a company incorporated in Vietnam if clients submit the Tax Return forms. One IBC can assist clients in the Tax Return matter along with providing a Financial Officer for the clients’ Vietnam companies and this position can be replaced by other Financial Officer in the future.

2. Financial Officer

Any Vietnamese company needs to appoint a Chief Accountant when it is established, One IBC can provide our clients with the Financial Officer for their companies. This position can be replaced by another employee in the future.

Service Service Fee
Representative Chief Accountant US$ 300

3. Business License Fees

Depending on the business field, you must have at least one of the following licenses and costs:

Business Field Service Fee
1. Service Company US$ 1,500
2. Trading Company: Import and Export US$ 1,800
3. Trading Company: Distribution US$ 2,200
4. Manufacturing US$ 2,700
5. Construction US$ 3,200
6. Conditional Industry US$ 4,000

4. Open bank account service fees

Belize Belize

BankInitial DepositAverage TimeRemarksService Fee
Belize Bank International
www.belizebankinternational.com
Belize Bank International
USD 1,0001 - 2 weeksRemote ApplicationUS$ 899
Caye International Bank
www.cayebank.bz
Caye International Bank
USD 1,0001 - 2 weeksRemote ApplicationUS$ 899

British Virgin Islands British Virgin Islands

BankInitial DepositAverage TimeRemarksService Fee
Bank of Asia
https://www.bankasia.com/
Bank of Asia
US$ 20,0001-2 weeksRemote ApplicationUS$ 899

Canada Canada

BankInitial DepositAverage TimeRemarksService Fee
DNBC Financial Group
https://www.dnbcgroup.com/
DNBC Financial Group
EUR 3,0003-5 working daysRemote ApplicationUS$ 0

Cayman Islands Cayman Islands

BankInitial DepositAverage TimeRemarksService Fee
FirstCaribbean International Bank
https://www.cibcfcib.com/
FirstCaribbean International Bank
US$ 10,0001-2 weeksRemote ApplicationUS$ 899

Hong Kong Hong Kong

BankInitial DepositAverage TimeRemarksService Fee
Currenxie
https://www.currenxie.com/en-hk/
Currenxie
Not required3-5 working daysRemote ApplicationUS$ 899
Airwallex
https://www.airwallex.com/
Airwallex
Not required3-5 working daysRemote ApplicationUS$ 899
Statrys
https://statrys.com/
Statrys
Not required3-5 working daysRemote ApplicationUS$ 899
Rapyd
https://www.rapyd.net/
Rapyd
Not required3-5 working daysRemote ApplicationUS$ 899

Malaysia Malaysia

BankInitial DepositAverage TimeRemarksService Fee
Standard Chartered Bank (Malaysia)
www.sc.com/my
Standard Chartered Bank (Malaysia)
USD 20,0004-6 working daysPersonal VisitUS$ 899

Mauritius Mauritius

BankInitial DepositAverage TimeRemarksService Fee
MauBank Ltd
www.maubank.mu/en
MauBank Ltd
5,000 (GBP, USD, EUR, CHF, AUD or ZAR: 5,000)1 - 2 weeksRemote ApplicationUS$ 2600
Bank One
www.bankone.mu
Bank One
USD 5,0001 - 2 weeksRemote ApplicationUS$ 2600

Puerto Rico (U.S. territory) Puerto Rico (U.S. territory)

BankInitial DepositAverage TimeRemarksService Fee
CB International Bank
https://www.cbibank.com/
CB International Bank
Not required1 - 2 weeksRemote ApplicationUS$ 899

Saint Kitts and Nevis Saint Kitts and Nevis

BankInitial DepositAverage TimeRemarksService Fee
International Merchant Bank Limited
https://www.imbltd.com/
International Merchant Bank Limited
US$ 25,0001-2 weeksRemote ApplicationUS$ 899

Saint Lucia Saint Lucia

BankInitial DepositAverage TimeRemarksService Fee
PROVEN Bank
https://stlucia.provenbank.com/
PROVEN Bank
US$ 5,0001-2 weeksRemote ApplicationUS$ 899

Singapore Singapore

BankInitial DepositAverage TimeRemarksService Fee
IN Financial Technologies
https://www.inft.co/
IN Financial Technologies
Not required3-5 working daysRemote ApplicationUS$ 899
Aspire
https://aspireapp.com/
Aspire
Not required3-5 working daysRemote ApplicationUS$ 899
Wallex
https://www.wallex.asia/
Wallex
Not required3-5 working daysRemote ApplicationUS$ 899
OCBC Bank
www.ocbc.com
OCBC Bank
SGD 30,0002 - 4 days Non-Singapore companies, Personal visit required at nearby branchUS$ 899
United Overseas Bank Limited Co
www.uobgroup.com
United Overseas Bank Limited Co
USD/SGD 25,000Preliminary Review: 3-4 Working DaysPersonal VisitUS$ 899

Switzerland Switzerland

BankInitial DepositAverage TimeRemarksService Fee
CIM Banque
www.cimbanque.com
CIM Banque
USD/CHF 10,0001 - 2 weeksRemote ApplicationUS$ 899

United Kingdom of Great Britain and Northern Ireland United Kingdom of Great Britain and Northern Ireland

BankInitial DepositAverage TimeRemarksService Fee
MultiPass
https://multipass.co/
MultiPass
Not required3-5 working daysRemote ApplicationUS$ 899

United States of America United States of America

BankInitial DepositAverage TimeRemarksService Fee
Mercury
https://mercury.com/
Mercury
Not required3-5 working daysRemote ApplicationUS$ 899

Vanuatu Vanuatu

BankInitial DepositAverage TimeRemarksService Fee
Pacific Private Bank
www.pacificprivatebank.com
Pacific Private Bank
USD 1,5001 - 2 weeksRemote ApplicationUS$ 899

5. Tax – Accounting & Auditing service fees

Package Service fee (US$)
Package 1: File tax report monthly/ quarterly. US$ 25/month
With amount of invoice from 10-20 invoices/months
Package 2: Make the task about tax report and accounting, bookkeeper/ draw balance sheet.

US$ 50
With amount of invoice from 10-30 invoices/months

US$ 65/months with amount of invoices under 50 invoices/month

*Special needs to be advised

Package 3: Draw a balance sheet US$ 200

6. Nominee Service fees

Services Service fee Description
Nominee shareholder US$ 899  
Nominee director US$ 899  
Power of attorney (POA) documents US$ 649 Nominee director’s signature only
Power of attorney with certification by public notary US$ 779 Certification by notary of detail documents of POA
Declaration of trust (DOT) US$ 649  
Declaration of trust (DOT) with certification by public notary US$ 779 Certification by notary of detail documents of DOT
Power of attorney (POA) with apostille documents US$ 899 Certification on documents by General Registry/Court
Courier fee US$ 150 Courier the original document to your residential address with express services (TNT or DHL)
Nominee Trustor US$ 1299  
Nominee Trustee US$ 1299  
Nominee Council US$ 1299  
Nominee Founder US$ 1299  

Notes

7. Serviced Office fees

7.1. Virtual Office

Period Fee (US$/month)
3 months US$ 199
6 months US$ 189
12 months US$ 179

Service Retainer: 2* Unit price (If you make full payment for the contract period, you do not need to pay Service retainer. If you pay monthly, you have to pay Service retainer and Service retainer fee will be refunded to clients after contract terminated within 5 working days).

7.2. Dedicated Office Plan

Period Fee (US$/month/seat)
3 months US$ 399
6 months US$ 369
12 months US$ 329

Service Retainer: 2* Unit price (If you make full payment for the contract period, you do not need to pay Service retainer. If you pay monthly, you have to pay Service retainer and Service retainer fee will be refunded to clients after contract terminated within 5 working days.)

7.3. Co-Working Plan

Type Fee
Day - pass US$ 29/pax/day
Visitor US$ 135/pax/5 days
Common US$ 499/pax/month

7.4. Meeting Room

Time Fee
1 hour US$ 79
Half day US$ 159

8. Merchant Account fee

Our sevices fee for Online Merchant Account Application is US$ 99

9. Company Renewal fee

Company Renewal Fee would not occur when clients use One IBC’s accounting service. Company Renewal process happens after 12 months, including the declaration and payment of Business License Tax

Type Of IncorporationFeesDue Date
Wholly foreign-owned LLC (100% foreign-owned company in Vietnam)US$ 199.00
  • Government Fee: US$ 199
  • Service Fee: US$ 0
Anniversary date
Partly foreign-owned LLC (The Vietnam joint venture company)US$ 199.00
  • Government Fee: US$ 199
  • Service Fee: US$ 0
Anniversary date
Set up company in Vietnam

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Announcement of Fee Adjustment in October 2022

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