Payroll is a record of the income, bonuses, and other benefits that are paid to employees, after deducting taxes and monthly social insurance or according to the regulations of Vietnam and each enterprise’s policy.

The main benefits of Payroll services are to save time for enterprises on administrative tasks, pay their employees and taxes in a timely and accurate manner, and avoid tax penalties.

What is on the payroll?

  • Draft a list of personnel and salary, allowance, and deduction of wages incurred in the salary period according to the labor contract;
  • Track different types of leave (including voluntary leave, unpaid leave, etc.);
  • Personal income tax calculation, registration and follow-up of dependents;
  • Calculate personal income tax, fill out tax forms, register and follow-up dependents for family circumstances deductions;
  • Advise Clients on health insurance management for employees.

How to proceed?

  • Organize direct meetings with our team to clarify your requirements, targets, and concerns;
  • Identify problems and advise the Client based on regulatory requirements and companies’ policies governing labor management;
  • Fill in the required documents and forms to complete the payroll process;
  • Provide ongoing follow-up to answer questions via phone, e-meetings, or direct meetings throughout the service process;
  • Provide a CRM account so our Clients can monitor the legal services and procedures.

Most Frequent Questions & Answers

Finding expert guidance in our FAQs section, which address common concerns and provide insights into corporate legal, accounting, and secretarial matters.

Registering a 100% foreign-owned company in Vietnam is possible. However, foreign investment is subject to regulatory limitations applied on each specific business sector.

In most cases, investors shall implement the following steps to establish a company:

Step 1: Obtaining an Investment Registration Certificate, abbreviated IRC (if any non-Vietnamese investors).

Step 2: Obtaining an Enterprise Registration Certificate, abbreviated ERC or BRC for Business Registration Certificate.

The company is established but the following steps are required for regulatory compliance:

Step 3: Post establishment procedures.

Step 4: Obtaining sub-licenses (if any).

IRC stands for Investment Registration Certificate which shall be obtained (in most cases) when a foreign investor wants to set up a project (such as establishing a company) in Vietnam at the beginning.

ERC stands for the Enterprise Registration Certificate which every company in Vietnam must have. In other jurisdiction it is sometimes referred to as the “Incorporation Certificate” or “Company Certificate”.

Joint Stock Company (“JSC“) and Limited Liability Company (“LLC“) are the most common types of company in Vietnam since they offer the following advantages:

  • Limitation in liabilities of their shareholders/ members/ proportionate to their capital contribution;
  • Flexible management structure;
  • Conversion from JSC to LLC and conversely is possible.

In general, there is no minimum capital required by law when registering a company in Vietnam. Only some conditional business sectors such as real estate trading, banking or education have specific capital requirements.

However, the capital shall be sufficient in light of the intended business sectors and scale of operation.

For non-conditional business sectors, we usually need from 6 to 8 weeks to setup a foreign-invested company and 1 week for a Vietnamese-invested one.

However, especially for foreign-owned companies, the time can be extended due to various reasons such as additional requirements from the licensing authorities.

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