Cekindo Business International is now InCorp Indonesia. Learn more.
InCorp offers a comprehensive range of solutions to ease the company registration process and help you create a viable roadmap for your business.
Get assistance from experts with a decade of experience in assisting international business owners expanding into Indonesia.
Avoid any bureaucratic complexity when closing your company by engaging with our experienced legal advisors.
What type of legal entities should you choose to register a company in Indonesia? We can assist you in choosing which is the best one to grow your business.
To help businesses survive during this unfortunate time, InCorp provides corporate recovery in Indonesia and insolvency services.
Obtaining property & land ownership in Indonesia offers some challenges for foreigners. However, buying property in Indonesia is attainable with specific resources and documents.
Recent regulatory changes have a knock-on effect on Indonesia's Merger & Acquisition landscape. Check on how we can navigate you through your M&A in Indonesia.
InCorp provides Virtual Office services Indonesia in various locations: Jakarta, Bali, Semarang, Surabaya, and Batam.
Business process outsourcing in Indonesia is a viable option to streamline bureaucratic complexities that hurdle your business expansion objectives.
InCorp offers a complete range of accounting service Indonesia, from tax reporting to auditing.
With professional financial audit services from InCorp, you can ensure all accounting activities are accurately recorded and compliant with Indonesian regulations.
Using an Employer of Record service to set your roots in Indonesia opens the doors to new opportunities in the country.
Financial and Operational Resilience services from InCorp are developed to support businesses and help them survive during this difficult time.
Payroll services in Indonesia are a practical solution to avoid unnecessary complexities while you focus on growing your business.
Using a recruitment agency in Indonesia will help you hire the best candidates for your company, saving you time and money.
Tax consulting in Indonesia are the shortcuts to fulfill the administrative obligations with high accuracy and in a timely manner.
The Indonesian government promotes tax holidays as one of the fiscal incentives to attract major foreign direct investment in Indonesia.
Operating businesses in Indonesia, entrepreneurs must comply with the regulations accordingly, especially concerning taxes.
Immigration in Indonesia is one of the strictest and most complex processes due to its ever-changing regulations. InCorp provides a seamless experience in obtaining your stay and work permits.
Avoid any hassles by engaging with an experienced visa agent in Indonesia.
A dependent visa Indonesia is a document that allows foreigners to bring their family while settling down in the country.
Investor KITAS Indonesia is a stay permit that offers many benefits to investors that invest in the country.
Overseas Visas are required for Indonesians who are planning to stay abroad for an extended period of time.
KITAP is a permanent stay visa for foreigners who have intentions to stay in Indonesia.
Foreign retirees often find their plans stuck due to the complex visa application process. InCorp helps expedite the process.
Obtaining a social visa is daunting if you are not familiar with the country’s complex bureaucratic processes. Consult with us for a seamless Indonesian visa application experience.
Foreigners married to an Indonesian citizen are eligible for a spouse-sponsored KITAS.
Learn how to obtain an Indonesian tourist visa seamlessly and securely, directly from a trusted visa and travel agent.
Get assistance from a trusted visa agent in Indonesia to make your traveling plan to Indonesia even more convenient.
Expedite your Indonesian work permit application process by engaging with a trusted visa agent.
All imported goods must obtain permission granted by specific governing bodies prior to entering the local market.
Learn more about the cosmetic product registration services in Indonesia.
Learn more about exporting goods to Indonesia.
Learn more about the food & beverage product registration services in Indonesia
Learn how to go through halal certification in Indonesia directly from experts successfully.
Learn more about the health supplement product registration services in Indonesia.
Learn more about the household product registration services in Indonesia.
Learn more about importing goods from Indonesia
An Importer of Record in Indonesia is a legal service that enables companies to import products into Indonesia, through an import partner.
Learn more about the medical device registration services in Indonesia.
Register a trademark is necessary to avoid legal issues in the future. InCorp can help you with Trademark Registration services in Indonesia.
Compliance is one of the most challenging parts of business overseas, especially in a country packed with complex bureaucratic processes such as Indonesia.
Updating business documents to align with your company’s growth can be a hassle.
Due Diligence services are needed to assess the credibility of the company or partner you wish to work with or acquire in Indonesia
From Company Regulations to Employment Agreement Drafting, Employment law services from InCorp will help you to compliance with employment policy in Indonesia.
InCorp’s legal consultation services in Indonesia are crafted to help your business settle and fully comply with the latest regulations.
Organizations must continuously evolve and transform to remain competitive and relevant in today’s global environment ...
Companies face many opportunities and challenges as a result of a changing market and regulatory landscape ...
Adopting Environmental, Social, and Corporate Governance (ESG) practices can improve your company’s value ...
Risk Management services from InCorp Indonesia can assist companies in building confidence when making future business decisions ...
Transfer Pricing in Indonesia occurs when a company performs an internal transaction within the same business group or its subsidiaries
InCorp's transfer pricing advisory services in Indonesia are marked by the objective to support our clients' business needs.
Our transfer pricing services provide you with a hassle-free experience while still complying with the legal aspects of transfer pricing in Indonesia.
As the market-entry consulting firm in Indonesia, InCorp provides a wide range of customized solutions to ease the business incorporation process.
Both natural and legal persons are entitled to open a bank account in Indonesia. Find out how to open a bank account in Indonesia, here.
InCorp can help you find a trusted Buying Agent Indonesia for product sourcing in Indonesia. Contact us now for a free consultation.
InCorp can help foreigners to get the driving license in Indonesia, whether SIM A or SIM C. Check out the requirements and the procedure, here.
IMEI Registration in Indonesia is necessary to ensure telecommunication devices from abroad can function properly in Indonesia.
With offices in Jakarta, Bali, Semarang, SUrabaya, and Batam, InCorp is ready to assist you as a local partner and distributor in Indonesia.
InCorp can help you to select the trusted local partners to import and distribute your products in Indonesia.
Improve your business by knowing the market conditions in Indonesia through market research services in Indonesia.
InCorp can help you gain information about your competitor's product through mystery shopping.
Business mistakes and frustration are not unusual when doing business in Vietnam. The lack of insight into the Vietnamese market has often given rise to some rather disheartening investments and business failures.
As a reputable business consulting firm for so many years, Cekindo has had a lot of expertise to see what works and what does not. In this article, we are going to tell you what are the common mistakes and pitfalls you can avoid while doing business in Vietnam.
In Vietnam, there is not a minimum required capital for most business sectors. Although, the government in Vietnam will need you to prove that you have sufficient money in your bank account to cover your planned expenses – depending on the type of your business.
This amount of money is also known as Charter Capital (similar to paid-up capital or share capital) and must be injected into your company within 90 days upon the issuance of Enterprise Registration Certificate (ERC), under the Enterprise Law. The set amount of charter capital can be increased later on.
This capital will have to be sent or transferred from a foreign bank account by the investor into the company’s capital account in Vietnam. It can also be paid via the form of asset contribution.
As a general rule of thumb, foreigners must always make sure they have enough capital – an investment of US$10,000 is generally considered as the minimum capital that is accepted by the Vietnamese government.
Since November 1, 2018, the government in Vietnam has implemented the e-invoice system (also known as electronic invoices in Vietnam) for the sales of goods – in an effort to boost the business environment for foreign investment via the simplification of invoicing.
It is mandatory for all individual companies, enterprises, corporations and other economic organisations to adopt the e-Invoice system by the end of 2020.
Read more about e-invoicing in Vietnam How to Comply with Mandatory E-Invoices in Vietnam.
Not only that it is part of the compulsory requirement by the Vietnamese authorities, but this implementation can also help to reduce costs and resources in businesses – by switching from paper invoicing to e-invoice.
Cekindo can assist you in adopting the e-invoice system in order to comply with the Vietnamese Law now. Furthermore, we provide both outsourcing services and seminars to educate your accounting and HR departments, so you can decide if in-house our outsourced e-invoicing fits your needs better.
No matter how well-prepared you are as a business investor in Vietnam, if you fail to appreciate the power of business culture in the country, it will tremendously impact your business.
In Vietnam, building and maintaining good relationships is essential for doing business. A strong business culture with mutual respect and appreciation in Vietnam will create a better work environment, smarter decisions and improved products and services.
Read our article and get fast insight into the Business Culture in Vietnam.
Another truth for most businesses in Vietnam is that many of them fail because they do not plan well on taxes and know about the incentives.
First of all, many foreigners will mistake all receipts as VAT invoices. This is certainly not true as a lot of companies do not issue VAT invoices if you do not ask for them. Please do not underestimate the usefulness of these VAT invoices because they can be treated as company expenses and are eligible to be claimed in the future.
Furthermore, you will require these VAT invoices to reduce your corporate income tax rate. Thus, do remember to keep all of them and most importantly to ask for them.
In addition, complying with tax filing and reporting law and regulation is one of the vital requirements for you to sustain your business in Vietnam – and there is no way around it. Also, keep in mind that when it comes to tax law for foreign-owned companies, the Vietnamese authorities will be more stringent on its compliance.
We cannot stress enough how important it is to know the visa and permit requirements for foreigners and certain positions or roles a foreigner can hold in Vietnam. In fact, this is the top business mistake that foreigners in Vietnam make.
Even though there is no specific regulation stating the foreign to local employee ratio in a Vietnamese company, you can only employ foreigners with particular skills that your business requires.
It is compulsory for Vietnamese companies to appoint a chief accountant as a statutory position, and this position can only be filled by a Vietnamese national. For other positions, the skills required are justified based on their demand in Vietnam. These skills are usually related to language proficient and international experience or skills that are currently lacking in Vietnam.
On top of that, foreign nationals must acquire a work permit and a resident card or business visa in order to work legally in Vietnam. Deportation of your foreign employees, shut down of business operation, or serious fines will be the consequences if you do not comply.
Do keep in mind that you need to allow enough time to translate and legalise all required documents and licenses – for the registration and running of your company in Vietnam. These have to be done in your home country which issues the documents.
If you do not give sufficient time to perform these tasks, it will eventually turn into a more expensive and time-consuming process to get it right.
Using an unreliable or even deceptive nominee is a very common mistake that many foreigners have committed when starting a business in Vietnam.
The engagement may be a result of unfamiliarity with the Vietnamese market (assuming that you need a nominee in every business sector) or trusting a business partner who is either not professional or tries to take advantage of you.
Partnering with an untrustworthy nominee might put you at risk that you have never expected – you will have no knowledge of who the shareholder of your company is. Also, a nominee who has been listed as shareholders in multiple companies will soon raise a red flag to the Vietnamese authorities.
Not to mention, without a proper agreement or professional medium that drafts and regulates the nominee agreement, you will likely to lose your company in case of the nominee’s death or illegal activities.
Therefore, rather than breaking the law, it is prudent for investors to take into careful consideration hiring a qualified consultant such as Cekindo to mediate the entire nominee process or to become your reliable and verified nominee.
Contact us for more information, and we will advise you on common business mistakes and how to do your business in Vietnam right.