Vietnam has taken the second spot out of the world’s top 30 countries to work, make friends and raise a family in 2019, according to the Business Insider.
“Life in Vietnam is affordable and expats’ disposable income is more than enough to cover daily costs. People here are also happy with their career opportunities”, Business Insider said.
Integrating in Vietnam is easy and the locals are welcoming, a separate group of expats told HSBC earlier this year.
Every year, the InterNations expat network asks people from 187 countries and regions to rate various aspects of their home away from home, from the cost of living, to the quality of medical care, to the ease of making local friends.
This year, the network interviewed more than 20,000 expats from around the world. They were asked questions from the cost of living, to the quality of medical care, to the ease of making local friends. Their answers were then weighted and calculated to rank the top 30 countries in the world for expats.
If you intend to work and live abroad as an expat in Asian countries, Vietnam may be one of the best destinations for expats as Vietnam’s continuous economic growth has led to the creation of millions of new jobs for foreigners. 15% of expats in Vietnam earn over $250,000, compared to global average of 7%. Expatriates can live a pleasant life there with a moderate expenditure, because it comes in a less expensive price in nearly all aspects than almost anywhere else in the world.
Even if you are interested in set up a company in Vietnam, you can form one of several kinds of legal entities with a Limited-Liability Company (LLC) and a Joint-Stock Company (JSC) being the most popular choices. According to Sophie Dao, Partner at GBS – A business and legal services firm in Vietnam, the legal entity is then categorized based on the percentage of its foreign investment. As most industries in Vietnam allow foreign investors to own up to 100% of shares, a Wholly Foreign-Owned Enterprise (WFOE) is a common business structure in Vietnam. Foreign investors can also find a local partner and incorporate a Joint Venture Company with local-foreign ownership.