Are you about to kick-start your business in Vietnam?BDG business supporting services: Accounting, BDG Ready-To-Go Office, BDG Remote Office, Recruitment and Payroll
BDG business supporting services

ESTABLISHING OPERATIONS IN VIETNAM

Does your organization see potential in the Vietnamese market? Are you an SME, thinking about opening an office in Vietnam, hiring local employees, distributing your products or sourcing from Vietnam, but you are stumbling upon cumbersome administrative work, legal issues and complicated procedures? Or you are a foreign manufacturing company that would like to reap Vietnam’s benefits, but still does not understand local laws, procedures and the culture?

 

WHY BUSINESS SUPPORTING SERVICES?

In order to avoid above mentioned issues, BDG has created services which will allow your organization, of any size and background, to focus on what is most important - your core business. You will be able to:

 

SMEs:

  • Keep investment costs low
  • Save lengthy incorporation time
  • Avoid going through a complicated licensing process
  • Find the best local talent
  • Have your employees under BDG supervision
  • Ensure that  your accounting books follow local regulations

Manufacturing companies:

  • Find the best local talent
  • Ensure that  your accounting books follow local regulations

 

BDG READY-TO-GO OFFICE

Together with BDG, you can establish your business unit under our already-set operations. This implies that you can have Vietnam-based employee(s) under supervision, guidance and payroll, without going through lengthy and costly company incorporation and office set-up. This service can save you time and money, allowing you to concentrate on operational side of your business.

 

BDG REMOTE OFFICE

If you have a small Vietnam-based team, and want your local employees to work in a modern and well-equipped office, BDG has a solution for you. We offer desk space in our 11th floor office situated in the heart of Ho Chi Minh City, Vietnam’s commercial capital. Fast internet, 24/7 security, meeting rooms and natural light are only some of the amenities your employees will enjoy.

 

RECRUITING

Time spent on hiring is time well spent. Our team will find the best suitable candidate(s) for your operations in Vietnam, following a proven 360o recruiting methodology. When it comes to recruiting, we are proud of our German and Vietnamese expertise.

 

BUSINESS SUPPORTING SERVICES PORTFOLIO

? Ready-to-go-office under BDG ? Office space ? IT infrastructure ? One-stop service with recruiting and HR admin ? Payroll ? Employee guidance ? Car rental ? Mailing ? Meeting room ? 24/7 security ? Parking area ? Contracting ? Insurance ? Onboarding ?

 

WHY USING BDG ACCOUNTING SUPPORT?

With more than 10 years of experience helping foreign companies establish their presence in Vietnam, BDG has witnessed many enterprises struggling to establish a well-rounded accounting system in the first months of operations.

 

THE CHALLENGE OF ACCOUNTING

In Vietnam, it could take up to two months to establish a comprehensive accounting system for your organization. Furthermore, you could face up to 30 tax payments each year, depending on your organization’s legal form and activities. Finally, on average, a Vietnamese accounting team would need 770 hours to complete all payments, which is more than 4 times longer than the 177 hours needed in OECD countries (according to the World Bank’s Doing Business Report).

Finally, according to the Vietnamese laws, every foreign-owned enterprise (FOE) in Vietnam needs to have a certified chief accountant managing company’s books. As good professionals are hard to find and expensive, BDG found an answer to your problems.

 

SOLUTION

To overcome these issues, and help your company avoid paying high penalties in Vietnam, BDG has created a portfolio of accounting services. Within these, we make sure your financial reporting will be transparent, up-to-date and accurate, in order to avoid any conflict and interest from the beginning on.

 

OUR PACKAGES

BDG Starter package | Initial set-up of your accounting system

  • Initial tax registration
  • Opening a bank account and certifying digital signature
  • Setting-up accounting software suitable to your company’s specific needs
  • Being represented by BDG chief accountant (Note: according to the Vietnamese law, every FOE needs to have a chief accountant for internal operations)

 

BDG Basic package | Accounting processes and reporting

  • Includes all perks from the Starter package
  • Bookkeeping and reporting services (VAT, CIT, PIT, foreign investment, import/export, implementation of investment capital, labor audit financial report via a 3rd party)
  • Taxation
  • Reporting commercial and/or manufacturing stock management

 

BDG optional additional services | Individual solutions

  • Loan registration
  • VAT invoice management
  • Pay in/out management
  • VAT refund management
  • Accounting report (balance sheet, P&L, cash flow and financial statement, financial projections)
  • Payroll management

 

Your questions about business support in Vietnam

  • I work for an SME, and my company is planning to have only a few employees in Vietnam.  Can my company enter the Vietnamese market quickly, while keeping the fixed costs low?
  • I work for a manufacturing company, and we want to establish our operations in Vietnam. How can we find good and reliable local employees for key positions?
  • We need to find the best local talent. How are local employees different than the ones from our country of origin?
  • What are the best ways to supervise and guide local professionals?
  • What is the least painful way for us to effectively manage financial books in Vietnam?
  • How do we ensure that our accounting is following local regulations?

 

For these, or similar questions, contact us! We will be happy to provide you the answers!