Many people only talk about and can dream about setting up their own business, but some people out there will go that bit further all by themselves and try to make a success of it. Suppose you are such a person, and you’re thinking of setting up your own business and branching out further afield. In that case, you are to be commended for that because it is a very competitive business environment out there. You do need to have your wits about you. Certain markets around the world are booming at the moment, and these are the markets that you really should be looking at right now. One particular area is the Asian continent. Countries like Vietnam are rolling out the carpet for new business ventures and providing them with many tax breaks to locate the business there.
If setting up a company formation in Vietnam sounds attractive to you, then the following are some of the benefits of setting up in a company such as this.
● A skilled workforce – The Vietnamese education system has come on leaps and bounds over the past 15 years. They are now churning out highly skilled and intelligent people like an excellent web developer who is more than happy to take up a full-time position with any foreign company. Their work ethic is unparalleled, and they have a very good grasp of the English language, unlike their closest neighbors.
● Government tax breaks – The Vietnamese government is doing all it can to improve foreign investment. So they offer excellent tax breaks to companies who decide to set up business there. The first two years of any business venture are the most crucial, and so many gaps that you get that involve paying out less money helps make your business viable and more profitable.
● Excellent infrastructure – The government understands the importance of new business. So they are spending an incredible amount of money improving upon transport systems within the country, including more expenditure on airports, rail lines, and roads. You get all of this excellent infrastructure, and all that they ask in return is that you provide people with jobs and pay your taxes.
● Reduced red tape – It used to be difficult to set up a business, but now it has been made a lot easier, and so this is why many businesses are flocking to this particular part of the Asia region. The wonderful thing for you, however, is that everything is just beginning, so you will have very little in the way of competition, and this will allow you to establish your roots and build up a wide customer base.
There has never been a better time to start up a new business in Vietnam, and you need to strike now while the iron is hot. It is incredibly important that you register your business as soon as possible because this will provide you and your employees with the protection they need.