The standard corporate income tax (CIT) rate in Vietnam is 20%. However, businesses in the oil and gas industry are subject to CIT rates from 32% to 50%, depending on the location and project conditions.
Yes, foreigners are allowed to own 100% of the shares of their business in most industries. However, for certain specified industries, company setup is allowed only in a joint venture with a Vietnamese individual or corporate entity.
A JSC in Vietnam is a good option if an entrepreneur or company is planning to conduct business with multiple partners or is looking to finance the company via the issuance of equity.
The intellectual property governing bodies in Vietnam are:
- The National Office of Intellectual Property (NOIP)
- The Vietnam Chamber of Commerce and Industry (VCCI)
- Vietnam Customs
The National Office of Intellectual Property (NOIP) is an agency which acts as the chief coordinator for intellectual property rights in Vietnam, under the umbrella of the Ministry of Science and Technology.
The agencies/organizations responsible for the different types of intellectual property rights in Vietnam are:
- Copyright Office of Vietnam: For copyright and related rights
- National Office of Intellectual Property (NOIP): For industrial property
- Plant Variety Protection Office: For rights to plant varieties
A word or a set of combination of words, numerals, shapes, letters, symbols, drawings, and a combination of all these are the different types of trademarks that can be registered in Vietnam.
Scent and sound are the two types of things that cannot be registered as trademarks.
Banknotes of a union, federal district, state, municipality, territory or any country; titles and coins are trademarks which are not eligible for registration.
In Vietnam, trademarks are classified into two types – local trademark and international trademark.