10 Steps to Starting a Small Business in Vietnam - Summary Repost

Lots of people seem to enjoy this posting so I am reposting a summary version of it here. The list is from The World Bank Group as posted on doingbusiness.org.

To view the original post (full version), click here


-----------------------Data is as of 2006 from doingbusiness.org--------------------------

10 steps to starting a business in Ho Chi Minh City (Saigon), Vietnam

STEP 1 - Check the proposed company name. Obtain a business registration certificate from the local Business Registration Office under the Department of Planning and Investment
Time to complete: 15 days
Cost to complete: VND 200000 (official fees) or $12USD

STEP 2 - Obtain a seal-making license from the Public Security
Time to complete: 4 - 7 days
Cost to complete: no charge

STEP 3 - Make and pick up company seal
Time to complete: 7 days
Cost to complete: VND 165,000 ($10USD) for bronze seal

STEP 4 - Open a bank account
Time to complete: 1 day
Cost to complete: no charge

STEP 5 - Publish announcement in a daily newspaper
Time to complete: 7 days
Cost to complete: VND 1,026,000 ($63USD)

STEP 6 - Apply for a tax code at the Hanoi Municipal Taxation Department; pay business license tax
Time to complete: 15 days (simultaneous with previous step)
Cost to complete: VND 3,000,000 ($185USD) for business license tax

STEP 7 - Buy pre-printed VAT invoices from the Municipal Taxation Department or obtain and print self printed VAT invoices
Time to complete: 15 days (simultaneous with previous step)
Cost to complete: If buying the pre-printed VAT Invoices: VND 14,000 (0.90USD) per book (50 copies). If self-printed : it shall depend on the design and requirements

STEP 8 - Register with the local labor office to declare use of labor (Municipal Department for Labor, Invalids and Social Affairs).
Time to complete: 1 day
Cost to complete: no charge

STEP 9 - Register employees with the Hanoi Social Insurance Fund for the payment of health insurance and social insurance.
Time to complete: 1 day
Cost to complete: no charge

STEP 10 - Establish a trade union with the City's Trade Union
Time to complete: 15 days
Cost to complete: no charge

Source: http://www.doingbusiness.org/ExploreTopics/StartingBusiness/Details.aspx?economyid=202

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