Establishing a Foreign Travel Company in Vietnam

Article overview

Establishing a foreign travel company in Vietnam is opening up development opportunities for international investors. To operate legally and effectively, it is necessary to comply with the company establishment process, grasp the times, and have thoughtful preparation in terms of organizational structure and human resources. In the article below, we provide detailed information on the process of establishing a foreign travel company and other related issues.

Establishing a foreign travel company
Establishing a foreign travel company

Opportunities and challenges when establishing a foreign travel company in Vietnam

Vietnam’s tourism market is growing at a steady pace. The government has issued many preferential policies for this smokeless industry. International travel companies are looking for investment opportunities in potential markets.

Development opportunity

Vietnam possesses a favorable geographical location in Southeast Asia, creating conditions for the development of international tours. The tourism infrastructure system is being invested heavily with international hotels and international flights increasing. Abundant human resources in the tourism industry with competitive costs, especially a team of well-trained tour guides.

Policies to attract foreign investment are increasingly open, creating conditions for foreign tourism companies to penetrate the market. Business operating costs are competitive compared to other countries in the region. The diversity of culture, cuisine, and natural landscape creates advantages for developing unique overseas trips.

Development opportunity
Development opportunity

Challenges need to be faced

The licensing process for foreign businesses is still complicated under the Law on Enterprise 2020. Legal capital requirements and business conditions pose many barriers. Businesses must strictly comply with regulations on visa services and travel schedules.

The market is fiercely competitive with international travel companies that have been present for many years. Differences in business culture create difficulties in operations. Reaching out and building a network of local partners requires time and resources.

Conditions for establishing a foreign travel company

Pursuant to Clause 2, Article 31 of the Law on Tourism 2017, conditions for establishing a foreign tourism company include:

1. Is an enterprise established according to the provisions of law on enterprises;

2. Deposit money for international travel services business at the bank;

  • Travel service business for international tourists coming to Vietnam: 250,000,000 VND;
  • Travel service business for tourists going abroad: 500,000,000 VND;
  • Travel service business for international tourists coming to Vietnam and tourists going abroad: 500,000,000 VND.

3. The person in charge of travel service business must have graduated from college or higher with a major in travel; If you graduate from college or higher in another major, you must have a professional certificate in international tourism operations.

Procedures for establishing a foreign travel company

First, the procedure for applying for a business registration certificate

Pursuant to the Law on Enterprise 2020, Decree 01/2021/ND-CP, procedures for applying for a Business Registration Certificate are carried out as follows:

Step 1: Prepare documents

  • Application for business registration.
  • Company charter.
  • List of members or founding shareholders.
  • Copy of ID card/passport of legal representative.
  • Power of attorney (if the applicant is not the business owner).

Step 2: Submit application

Submit 01 set of documents to the Business Registration Office where the enterprise is headquartered.

Step 3: Receive and process documents

After receiving the business registration application, the Business Registration Office issues a Receipt of receipt of the application to the applicant.

The Business Registration Office enters complete and accurate information in the business registration dossier, checks the validity of the dossier and uploads the digitized documents in the business registration dossier into the National Business Registration Information System.

In case the dossier is not valid, the Business Registration Office must notify in writing the content that needs to be amended or supplemented to the business founder or enterprise within 03 working days from the date of receipt of the dossier.

Step 4: Issue business registration certificate

Within 03 working days from the date of receipt of valid documents, the Business Registration Office will issue the Business Registration Certificate.

Second, Procedures for applying for an international travel service business license

Customers can refer to the procedures for applying for an international travel service business license through the following article: Procedures for reissuing the License to conduct international travel services

Vietnam National Tourism Administration
Vietnam National Tourism Administration

Consulting services for establishing foreign travel companies in Vietnam

Long Phan provides comprehensive consulting services from preparing documents to completing procedures. A team of experts who understand tourism and business law will accompany the establishment process, ensuring compliance with the latest regulations. Our services include:

  • Drafting business establishment documents;
  • Register your business code with the tax authority;
  • Seal design and seal sample registration;
  • Consulting on travel business deposit procedures;
  • Apply for an international travel service business license;
  • Announcement of business registration contents;
  • Consulting on building business operating procedures;
  • Instructions on tax declaration and payment procedures;
  • Consulting on compliance with labor regulations;
  • Support in applying for relevant sublicenses;
  • Consulting and reporting periodically to management agencies;
  • Representing customers to carry out relevant procedures.

Establishing a foreign travel company in Vietnam requires a deep understanding of the implementation process. Long Phan, with a team of experienced consultants, will accompany you throughout the process from preparing documents to receiving the operating license. Contact the hotline immediately 0906735386 for advice and support in establishing a business quickly and effectively.