Posted 4.01. 2021 by Cekindo
Vietnam has gone through tremendous digital transformation in the past five years and the IT sector has seen substantial growth. This positive change has pushed Vietnam in becoming a digital economy and a digital society. As a result, the number of IT companies in Vietnam has been on the rise, and Vietnam is crowned the IT nation of Southeast Asia in 2020. In 2019, Vietnam’s Information and Communications Technology (ICT) industry achieved an estimated total revenue of US$112.35 billion.
Since the government in Vietnam wants to push the IT sector in the country to a brand new height, they provide attractive benefits in the form of incentives to IT companies in Vietnam to encourage more investments into the sector.
These incentives can be in these formats:
However, an IT company in Vietnam can only take advantage of the incentive benefits when they fulfill certain criteria. Only the following types of IT companies are qualified for incentives:
In Vietnam, foreign ownership in the IT sector is permitted under the Vietnamese Law on Investment. The authority will simplify the process of starting a foreign IT company in Vietnam starting from January 2021.
For foreign investors considering start a foreign limited liability company (LLC) in Vietnam, below are the requirements you must adhere to:
There are alternative ways to do IT business in Vietnam other than just setting an IT company:
There are several requirements and benefits associated with starting an IT company in Vietnam. Cekindo’s one-stop solution can help you get familiar with the details, reliably guide you through the business registration process, and keep you on the right track to your business success. We have your best interest at heart.
Let Cekindo’s legal and business consulting team strip you of the responsibilities and worries regarding the establishment of your IT company in Vietnam. We do the heavy lifting for you so that you can do what you do best – growing your business. We can also help you with the company post-registration solutions including tax reporting and filing, immigration, permit, and license application, and so much more.
Start your IT company in Vietnam with peace of mind with Cekindo. Complete the form below.