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.
A rapid evolution in Vietnam’s cosmetic industry cannot be denied. There is a growing number of Vietnamese middle-class population, which leads to the substantial growth of the cosmetic market as demand for cosmetics, especially in personal care and beauty products, has increased over the last few years in Vietnam.
This rapid evolution has appealed to a myriad of investors, both local and foreign. According to a report from Nielsen, the cosmetic market in Vietnam has hit a staggering amount of VND 15 trillion (USD 704.2 million) for its annual turnover.
This positive result has been further supported by the country’s average per-capita spending in cosmetic, which is an average of USD4/person per year. If being compared to another country in Southeast Asia like Thailand that shows an average spending of USD20/person per year, a huge growth potential of the cosmetic market in Vietnam is expected, especially with the changes in behaviour and preferences of the Vietnamese.
This article attempts to show the growth of Vietnam’s cosmetic market and provide detailed information on the labeling, claims, packaging and advertising of cosmetic products in Vietnam.
According to a report prepared by Mintel, in 2018 the cosmetic market in Vietnam reached USD2.35 billion. When being compared to 2016, the cosmetic market reached only USD 1.78 billion, we can see how the cosmetic market in Vietnam grew significantly. Furthermore, when being compared to other industries, the cosmetic industry has seen the highest growth rate.
In addition, the market is also expected to achieve its full growth in the near future as the GDP is growing by over 6% annually. It is also expected that Vietnam’s middle-class population is going to reach 33 million by 2020.
When it comes to cosmetic brand, foreign cosmetic brands are still dominating the market in Vietnam with over 400 foreign cosmetic businesses currently being run, according to a report from The Society of Cosmetics of Ho Chi Minh City. This is equal to 90% of the Vietnamese market share. Among the 400 foreign cosmetic businesses, Korean brands stand tall (30%), followed by brands from European countries (23%), Japan (17%), Thailand (13%), USA (10%) and other countries (7%).
A lot of local people prefer Korean cosmetics because in addition to being affordable, the Korean brands are commonly associated with high quality and youthfulness, as can be seen from the advertisement.
With regard to local cosmetic brands, the cosmetic products produced in Vietnam are generally exported to other Asian countries with lower sales volume. Despite this, several local brands are striving and have won the hearts of the people in Vietnam, such as Lan Hao (Thorakao), JSC Saigon Cosmetic, and JSC Sao Thai Street.
You may be wondering the reasons behind the small market share owned by local brands in Vietnam. The main reason is the financial capability that is rather limited. Therefore, there is no way for them to pursue further marketing activities, research and development activities as well as advertising their cosmetic products. Although the quality of the local cosmetic products is actually as good as the foreign ones, they have no idea on how to brand and market their products.
Good news for foreign investors, the potential in investing in the cosmetic industry in Vietnam has increased because of the reduced tax for import of cosmetic products. The government of Vietnam has signed trade agreements with many countries as an effort to bring the investment opportunities to another level. Through the agreements, tax rates of imported cosmetics are to be reduced by maximum 5%.
Cosmetic products are defined as products that are applied to the human body. Thus, they are strictly regulated in Vietnam.
In accordance with the Vietnamese regulations in the field of cosmetics, which follows the ASEAN Cosmetic Directive, all cosmetic products are required for registration before they can be imported, distributed and sold anywhere in Vietnam.
The main authority for cosmetic product registration is the Drug Administration of Vietnam (DAV), which is part of the Vietnam Ministry of Health (MOH). It is important to note that every cosmetic product that has a different SKU is required to be registered separately in order to be sold in the country. Regarding cosmetic product registration, it is rather flexible as it can be carried out by an individual or an organisation, provided that the registrant is the product owner of the cosmetic product or someone legally appointed by the owner.
Once the cosmetic product registration has been approved by the MOH, a product proclamation number for every single cosmetic product will be issued in a form of receipt.
Furthermore, it is also mandatory ho have a Product Information File (PIF) for every cosmetic product that will be distributed. A PIF should contain information such as product summary and administrative documents, product quality, material quality and effectiveness/efficiency and safety
In accordance with ASEAN Cosmetic Directive, information that must be included on the packaging label of each cosmetic product sold in Vietnam should cover the following:
All labels must be clearly printed on the packaging, so that consumers can easily see them. Information must not be blocked or separated from the packaging of a cosmetic product.
It is not only labeling that is deemed important in Vietnam. Each and every cosmetic product that is to be manufactured in or imported into Vietnam is required to have proper claims before it can be distributed or sold in the country. As such, approval of claims for the relevant authority is required.
Claims of benefits are allowed, provided that evidence and reports are available. For medicinal or therapeutic benefits, approval is subject to individual assessment by the national authority.
You are not allowed to have claims that include scars elimination and aging reversal (for skin products), hair loss reversal and permanent dandruff removal (for hair products) and sweating prevention (for deodorants). Further details can be provided to you by Cekindo upon request.
Cosmetic advertising on any of these media: radio, television, internet, newspapers, magazines, posters, events, etc. is regulated under the Vietnamese Law and must be approved before being shown to the public.
The content of cosmetic advertisement must be appropriate and not misleading. It should conform to effectiveness, safety and quality of the product in accordance with the ASEAN Cosmetic Directive.
To obtain approval for cosmetic advertising, the following documents are to be prepared:
Throughout the years, Cekindo has successfully assisted many clients to enter the Indonesian market through our comprehensive range of business solutions.
Now, Cekindo has expanded to Vietnam and with our team of legal specialists and professional consultants, we are more than happy to assist you with cosmetic product registration in Vietnam. What is more, we can also assist clients that want to start a cosmetic business in Vietnam by establishing a company.
Get in touch with us by filling in the form below.