Q & A
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Q & A

Frequently Asked Questions
Answer: Owner’s Checklist for Starting a New Business

Background work
o assess your strengths and weaknesses
o establish business and personal goals
o assess your financial resources
o identify the financial risks
o determine the start-up costs
o decide on your business location
o do market research
o identify your customers
o identify your competitors
o develop a marketing plan
 
Business transactions
o select a lawyer
o choose a form of organization (proprietorship, partnership, or corporation, for example)
o create your business (register your name, incorporate the business, etc.)
o select an accountant
o prepare a business plan
o select a banker
o set up a business checking account
o apply for business loans (if applicable)
o establish a line of credit
o select an insurance agent
o obtain business insurance
 
First steps
o get business cards
o review local business codes
o obtain a lease
o line up suppliers (if applicable)
o get furniture and equipment
o obtain a business license or permit (if applicable)
o get a federal employer identification number (if applicable)
o get a state employer i.d. number (if applicable)
o send for federal and state tax forms
o join a professional organization
o set a starting date

Contact us today via email: info@gbs.com.vn
1. Definition:
Under Vietnamese laws (Decision No. 1550/2004 QD by the State Bank of Vietnam), foreign investors are defined as:
  • Non-residents being foreign economic organizations established pursuant to foreign laws;
  • Non-residents being foreign individuals not residing in Vietnam and Vietnamese residing overseas;
  • Residents being foreign individuals residing in Vietnam.
Percentage of foreign parties in the Vietnamese stock market (Decision No. 238/2005/QD-TTg of the Prime Minister)
* Shares:
Foreign investors are entitled to hold up to a maximum 49% of total listed shares of the total shares listed or registered for trading by any one organization which has been listed or has registered for trading in a securities trading center. Each investor cannot hold more than 10%. Foreign investors can hold a maximum 30% of total shares in a financial institution.
* Bonds:
There is no limitation on the foreign ownership of bonds.
* Investment fund certificates:
Foreign investors are entitled to hold up to a maximum 49% of total listed investment fund certificates of a securities investment fund, which has listed or registered for trading at a securities trading center.
(Note: This Guide is subject to changes in applicable Laws. Please contact FPTS for the latest amendments)
 
The purchase and/or sale of securities by foreign investors at the securities trading center or stock exchange must strictly follow the Decision No. 1550/2004/QD-NHNN of the Governor of the State Bank of Vietnam dated December 06, 2004.
- The purchase and/or sale of securities by foreign investors within the territory of Vietnam must be in Vietnamese dong (VND).
* Source of funds for purchase of securities
Foreign investor shall be permitted to use the following sources of foreign currency and VND for purchase of securities:
  • Foreign currency remitted into VND from foreign sources(s) in accordance with prevailing regulations on foreign exchange control;
  • Foreign currency and VND of foreign investors deposited at authorized banks;
  • VND in capital contribution accounts or share purchase accounts of foreign investors opened at commercial banks in Vietnam in accordance with regulations of the State Bank on foreign exchange control applicable to capital contribution to and purchase of shareholding in Vietnamese