IT Company Formation Service in Vietnam

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Question: We are Japanese company and want to set up a 100% FOC in Vietnam (LLC). We would like to incorporate in Hochiminh City and we are now looking for a law firm who can take care of the administrative process and licensing for us. We are not in Vietnam, so we look for a one-stop provider of such services.

Also, because we are operating in the IT industry, we were wondering if we can get tax incentives by setting up in Quang Trung IT Park in Hochiminh City? Your advice is highly appreciated.

Answer: I am Lawyer of SB Law. I was entrusted to provide you legal advice regarding to setting up foreign invested company in Vietnam.

From your email, we understand that your company would like to setup a foreign invested company in the IT Industry.
Under Vietnam Law, company operating in IT Industry shall be entitled to enjoy preferred tax policy as follows:
– Corporate Income Tax (CIT) shall be exempted for 4 years;
– Deduction of CIT upto 50% in 9 years after completing period of tax exemption;
– Favored CIT Rate of 10% in 15 years.
However, due to the concept of IT Industry is rather broad and for avoidance of any mis-understanding, please describe in detail business activities that your Client wishes to carry out in Vietnam.
For example:
– Designing and developing software products;
– Providing solutions in IT fields etc.
Then, based on your information, we shall provide you our quotation and advice on tax preference.