CORPORATE SECRETARY SERVICES TO ENSURE ANNUAL COMPLIANCE IN VIETNAM

Following annual compliance requirements is crucial for businesses when operating in Vietnam. Companies must adhere to Vietnamese legal and regulatory obligations involving tax reporting, labor commitments, and corporate governance. However, ensuring compliance while focusing on business growth can be overwhelming for many foreign entrepreneurs. Corporate secretarial services are designed to bridge this gap, providing expert support to businesses in handling these responsibilities. This article explores how G2B’s corporate secretary service in Vietnam helps businesses ensure compliance efficiently and effectively.

Introduction of G2B's corporate secretary

We are a leading service provider specializing in business formation and compliance solutions in Vietnam. Among our services, G2B offers comprehensive corporate secretary services to meet the needs of foreign enterprises operating in the country.

What is a corporate secretary?

A corporate secretary is a professional responsible for ensuring that a company complies with statutory and regulatory requirements. This role involves maintaining company records, preparing resolutions, and filing annual returns. In Vietnam, corporate secretaries play a critical role in managing compliance with laws and regulations. They act as a bridge between the company and government authorities to ensure adherence to legal obligations. The role is particularly significant in Vietnam, where regulatory frameworks are dynamic and can challenge foreign businesses unfamiliar with local practices. By engaging a qualified corporate secretary, companies can focus on growth while maintaining legal and regulatory compliance effectively.

A corporate secretary assists foreign businesses compliance with governance standards in Vietnam

What is corporate secretarial service?

Corporate secretarial services are professional services that assist businesses in fulfilling statutory requirements. These services encompass a broad range of activities, such as registering changes in corporate structure, filing annual reports, and updating business licenses. In Vietnam, where deadlines and reporting standards are strictly enforced, missing a single filing can result in fines or penalties. Engaging these services allows businesses to maintain compliance without the burden of navigating complex regulations independently. Additionally, it provides businesses with peace of mind, ensuring that all legal obligations are met accurately and on time.

As one of G2B services in Vietnam providing professional support for businesses, G2B’s corporate secretarial service is your trusted partner in managing essential administrative tasks and ensuring legal and regulatory compliance for smooth business operations in Vietnam. We securely store all your company’s legal documents in one place, eliminating the hassle of searching for missing paperwork. Our dedicated corporate secretary assists with related legal documents, helping you understand and handle correspondence from government agencies, ensuring prompt responses and clarity. Additionally, we keep your company compliant by following and notifying your business of annual compliance and the necessary steps to complete them accurately and on time.

Beyond compliance, G2B provides detailed monthly reports to help you track completed secretarial tasks and ensure important documents are well-managed. We also offer a range of other business support services, including work permit and Temporary Residence Card (TRC) support, business information updates, company dissolution assistance, and travel desk services. With G2B, you can totally focus on growing your business while we handle the complexities of administration and compliance. 

Corporate secretary services ensure timely and accurate compliance with Vietnam’s legal obligations.

Key notes of annual compliance requirements in Vietnam

Ensuring compliance in Vietnam requires a thorough understanding of tax regulations, labor laws, and specific obligations for representative offices.

Tax reporting and compliance obligations: VAT, CIT, PIT, FCT

Vietnam’s tax system imposes various reporting and payment obligations, including Value-Added Tax (VAT), Corporate Income Tax (CIT), Personal Income Tax (PIT), and Foreign Contractor Tax (FCT). Companies must adhere to strict timelines for submitting tax declarations and paying dues. Failure to comply can lead to fines and legal consequences. Specifically, VAT is applied to most goods and services, requiring companies to file monthly or quarterly returns. CIT requires businesses to report and settle tax liabilities based on annual profits. PIT involves reporting and remitting taxes for employees, while FCT applies to payments made to foreign contractors. A robust system for tracking and reporting taxes is essential to avoid compliance risks.

Labour obligations, insurance, and PIT

Vietnam’s labor laws mandate employers to comply with obligations related to employment contracts, social insurance, and employee income tax. These include registering labor contracts, contributing to social insurance schemes, and deducting PIT for employees. Adherence to these laws is essential to avoid disputes and maintain a healthy work environment. Employers must register employees with social insurance authorities and make monthly contributions for health, unemployment, and retirement benefits. Additionally, accurate PIT deductions and reporting are crucial to meet tax obligations. These responsibilities require meticulous record-keeping and timely action.

Representative office compliance

Representative offices (ROs) in Vietnam have specific compliance requirements that differ from regular enterprises. These include filing operational reports, maintaining proper records, and renewing licenses. ROs must also comply with tax and labor laws applicable to their operations. Operational reports detail the activities conducted by the RO and must be submitted annually. Additionally, licenses for ROs have limited validity and require timely renewal to continue operations. Corporate secretary services ensure that these requirements are met, allowing ROs to operate smoothly without interruptions.

Representative offices must file reports and renew licenses annually

By handling these specialized compliance requirements, corporate secretarial services help businesses maintain their legal standing in Vietnam. These services provide expert support, ensuring that all obligations are fulfilled accurately and on time. G2B’s corporate secretary services provide businesses in Vietnam with comprehensive solutions to ensure compliance. With expert guidance, businesses can focus on growth while confidently meeting their legal responsibilities. With G2B, you can confidently build your business in Vietnam, knowing we’re here to assist you every step of the way. Contact G2B today to learn more about how we can help you with your business goal in Vietnam!