Covering all your back office needs our local team at Clockwork Vietnam acts as a valuable extension of your in-house teams, enabling you to focus on doing business. We stay on top of constantly changing local regulatory and compliance requirements so that you can act faster, more effectively and with better control over costs.
Clockwork Vietnam Business Support Services:
Clockwork Vietnam provides the following company secretary services for clients based in Ho Chi Minh City:
- Organize and prepare agendas for Board and Committee Meetings
- Advise on official corporate requirements and disclosures, notices etc
- Coordinate work to prepare, check, consolidate Board papers
- Take accurate minutes
- Liaise with regulators and auditors to ensure compliance with applicable codes and statutory requirements
- Monitor changes in relevant legislation
- Deal with correspondence, review daft resolutions, and ensure decisions made are communicated to relevant parties
- Maintain statutory books, records, and registers
Trademark registration applications in Vietnam are thoroughly examined on accuracy of information, proper classification of goods/services etc. We are experienced in this process and can assist in putting together a watertight application. In general a formal acceptance from the Trademark Office takes between one and two months from the date of submission.
To incorporate a business in Vietnam a registered address is required. For service based businesses Clockwork Vietnam can provide this address.
Clockwork Vietnam assists new businesses with the process of opening a local bank account. Investors and foreign staff will also be required to open a personal account. As anywhere in the world these days, opening a bank account involves an array of rules and restrictions, which our team can help you navigate.
Clockwork Vietnam can help your business become and remain compliant with international accounting laws and policies.
Legislation and regulations are different in every country. Our local team in Vietnam is always on top of the most up to date regulatory and compliance requirements and as we are wholly owned and on-location, we can meet your requirements in Vietnam as well as offer central co-ordination across all your locations. This means that you can scale up (or down) faster with better transparency and more control over cost.
Our team in Vietnam can:
- Prepare reports in local GAAP and IFRS/US GAAP.
- Create and submit annual financial statements.
- Support global audits.
- Produce tailored management reports.
- Provide consolidated reporting when required (with reconciliation between statutory and management reports)
Clockwork Vietnam executes payroll preparation for your local staff in Vietnam and can support in making payments to staff and relevant local authorities. We also cover the administration of liaising with the tax department, social insurance department and labour department.
We are able to produce and manage locally required trade documentation and administration, banking transactions and the production of various trade related reports.
As Vietnamese-owned businesses do not need a foreign investment license, appointing a local legal representative to act as director for your business could be an option in some cases. Once the foreign owned company has been set up and is in full compliance, the nominee company can merge with the foreign owned company. This solution could also be considered when your line of business can’t be 100% foreign owned.
Appointing a legal representative as director of your business requires the application of a business registration certificate, which takes approximately one week to obtain.
A Process Agent is required if one or more parties involved in the execution of an international transaction does not have a physical presence or address within the jurisdiction where the transaction is taking place. Clockwork can act as your designated agent to receive, document and process the related document flow.
Clockwork Vietnam manages the application process for visas (including dependant visas) and other permits such as temporary residence cards, work permits and driving licenses for foreign staff.
We assist with various license applications such as fund management and securities licenses.