Launching an Accounting Service Company in Vietnam: A Comprehensive Guide

Are you considering opening an accounting service company in Vietnam? With its booming economy and growing demand for professional financial services, Vietnam presents an exciting opportunity for entrepreneurs in this sector. However, navigating the legal landscape and fulfilling regulatory requirements can seem daunting. This guide from NT International Law Firm provides a comprehensive roadmap to help you confidently launch your accounting service company and pave the way for success.

Launching an Accounting Service Company in Vietnam: A Comprehensive Guide

What is an Accounting Service Company?

An accounting service company provides professional financial accounting, tax declaration, and other related services to businesses under contractual agreements. They act independently, offering expertise and accuracy in managing financial records, ensuring compliance with accounting regulations.

Conditions for Establishing an Accounting Service Company:

• Professional Qualifications: Individuals must possess an accountant certificate or auditor certificate as specified by the Law on Independent Auditing.
• Experience: Minimum of 36 months of practical experience in finance, accounting, and auditing after graduating from university.
• Continuing Education: Completion of mandatory knowledge update programs prescribed by law.
• Legal Requirements:
  • Business entity type: limited liability company, partnership, or private enterprise.
  • Compliance with business conditions and regulations.
  • Certificate of eligibility to provide accounting services.
  • Restriction on contributing capital to establish other accounting service businesses (except for foreign companies).

Types of Accounting Service Businesses:

• Vietnamese companies:
  • Limited liability company with two or more members.
  • Partnerships.
  • Private enterprises.
• Foreign companies:
  • Contributing capital to establish a joint venture accounting service company in Vietnam.
  • Establishing a branch of a foreign accounting service enterprise.
  • Providing cross-border services according to government regulations.

Procedures for Establishing an Accounting Service Company:

1. Prepare Documents:

• Application for business registration.
• Company charter.
• List of shareholders/capital contributors.
• Identification documents for individuals/organizations.
• Establishment decision/business registration license for organizations.

2. Submit Application and Obtain License:

• Submit the complete document set to the Business Registration Office.
• Processing time: 3-5 working days.
• Business registration license issued upon approval.

3. Publish Company Registration Information:

• Announce company information on the national electronic information portal within 30 days.
• Failure to comply incurs administrative fines.

4. Obtain Legal Seal and Register for Taxes:

• Provide a copy of the business registration certificate to engrave the company seal.
• Submit license tax declaration and pay license tax within 30 days of obtaining the license.
• Register for electronic invoices.

5. Additional Considerations:

• Charter Capital: Higher capital improves bidding capacity and influences tax rates.
• Compliance: Continuously stay updated on legal regulations and industry standards.
• Professional Development: Invest in training programs to enhance employee skills.
• Networking: Build relationships with key stakeholders in the industry.

Seek Professional Support:

With extensive experience in business establishment and legal services, NT International Law Firm can provide invaluable support throughout your journey:

• Expert legal advice: Navigate complex regulations and ensure compliance with all applicable laws.
• Document preparation and review: Ensure your application is complete and accurate to avoid delays.
• Liaison with authorities: Handle bureaucratic procedures and obtain necessary permits and licenses.
• Ongoing legal support: Address any legal challenges that may arise and ensure smooth business operation.

By understanding the key conditions, procedures, and considerations outlined in this guide, and by leveraging the expertise of NT International Law Firm, you can confidently embark on your venture as an accounting service company owner in Vietnam and establish a successful business that thrives in this dynamic market.

NT International Law Firm is Here to Help

NT International Law Firm has addressed the question of how to establish your own accounting service company. If you have any further questions or concerns regarding corporate law, please contact our law firm immediately for expert legal advice.

If you require any legal assistance, please feel free to reach out to us via phone at 090 252 4567 or through email: info@ntpartnerlawfirm.com. At NT INTERNATIONAL LAW FIRM, our team is committed to offering you prompt and personalized advice.

You also might be interested in:

• The 2015 Civil Code in English
• The 2020 Law On Enterprises in English