7 critical mistakes investors make after starting a business in Vietnam.
Episode 6
In this episode, we discuss the most consequential mistakes foreign investors make after establishing their business in Vietnam, and advise on how to avoid these problems from the beginning, or how to mitigate their risks if they couldn’t have been avoided.
Some of the areas covered in the discussion are:
- Delay in Charter Capital Injection and minimum investment capital provision
- Not registering with the authorities for the initial tax registrations
- Using a Vietnamese nominee investor to start the business – risks attached
- 30-day residency requirement for the Legal Representative of the newly formed company
- Making undocumented loans or not registering foreign loans with the State Bank
- Not Appointing a Chief Accountant, and not understanding their role in a Vietnamese organization
- “Let’s do it the local way, and we fix it later” type of mindset – risks and precautions to be aware of.
