Legal Entity Incorporation Vietnam and Virtual office for a Swedish Industrial Manufacturing Company
The client is a Swedish global leader in innovative, energy-efficient, and sustainable climate solutions. With customers from a variety of industries, the client’s solutions reduce customers’ climate and environmental impact through lower resource consumption.
The client decided to establish a legal entity in Vietnam as part of the expansion plan for their food-tech business unit in the Asia-Pacific (APAC) region. Earlier, Asia Perspective already supported the client to establish a distribution center in Vietnam.
Asia Perspective was asked to help the client establish a legal entity in Vietnam as well as provide office space, operational guidance, and administrative support for the Vietnam team going forward. Asia Perspective was also requested to recruit a Supply Chain Manager who oversees the supply chain domain of the whole region.
Vietnam is the perfect destination for establishing a regional hub to cover sales in the APAC region due to lower freight costs, as well as advantageous tariff rates. Thanks to the country’s free trade agreement with ASEAN, EU, and RCEP, Vietnam can act as a bridge connecting businesses between EU and APAC region and offer unique trading opportunities that other countries cannot.
Vietnam is also famous for having a favourable business environment for foreign investors, a young population with more than 50% are labor force, and a stable political environment.
Phase 1: Legal Entity Analysis & Recruitment of Supply Chain Manager
Asia Perspective conducted a SWOT analysis of establishing an entity and comparison among different types of entities in Vietnam. The analysis and recommendation were put into a fact-based structured overview report.
For the recruitment, a thorough interview process was organized to ensure that the selected candidate matches all knowledge requirements and is a good fit with the client’s culture and way of working.
Firstly, Asia Perspective collected the requirements and searched for candidates that match the required experience and qualifications via different channels. After that, initial interviews with Asia Perspective were carried out to shortlist candidates. The most potential candidates or shortlisted ones were presented to the client for further interviews. The final selected candidate was decided at the end of the process.
Phase 2: Legal Entity Setup & Ongoing Operational Support
Asia Perspective took care of all administrational work and application processes, as well as handling all practical tasks of setting up the legal entity.
After the company structure was decided by the client, Asia Perspective instructed and collected all the required documents from the client to apply for Investment Registration Certificate and Enterprise Registration Certificate to establish a 100% foreign-owned company.
Asia Perspective prepared office space and provided payroll and administrative support as required when the Supply Chain Manager was onboarded.
- A wholly foreign-owned legal entity was successfully incorporated, up and running in Vietnam.
- A new Supply Chain Manager based in Vietnam was hired and successfully onboarded to take responsibility for logistics operations throughout the Asia-Pacific region.
- Office space, ongoing support on payroll and administrations were provided to the Supply Chain Manager at Asia Perspective’s office.