9 Unusual Ways to Cut Costs in the Office

Cutting office Costs is expenses that accompany operating an office desire they’re very set. You need certain software, a coffee pot, and therefore the right furniture, or it is not really an office. That doesn’t allow for a lot of savings. If you’re willing to think outside the box when it involves the prices in your office, there are some ways to scale back the cash you spend.

1. Audit Your Energy Use

Utilities are often an enormous expense within the office and cutting your costs there can help tons. You can often plan to have your local utility company provide you with an energy audit freed from charge. This will help you find a lot of quick fixes.

2. Share Equipment with Other Offices

How often do you use a copy machine? A fax machine? Any of the other equipment that seems to be usual for an office? Provided you’re in an office block where other companies even have space, there is no reason to urge dedicated equipment. If you carefully plan trips to a different office, you’ll be ready to share that equipment albeit you do not work nearby. Create a standard fund to shop for and maintain the shared equipment and both companies can cut costs.

3. Outsource What Someone Else Can Do Cheaper

Because the courier service can take several companies’ mail to the post office in one trip, the general cost is cheaper than if individual companies handled things on their own. Furthermore, Baptist can spend more of her time on work which will usher in income for her business.

4. Look at Alternative Spaces for Office Costs

Finding office space is often an upscale proposition, but the prices go up if you simply check out spaces that are officially meant for housing offices. Depending on your company’s needs, anything from a warehouse to an apartment could be even as adequate. You do have to make sure that physical planning and your lease allow for your business, but you can find alternatives more often than you might expect.

5. Barter for Services and Products

If you’ve got the supply in your schedule, trading your work for an additional company is often worthwhile. Bartering isn’t a good way to handle every client, but if there’s something that you really need, you can often get it for below the price tag if you barter. It’s important to make sure that you’re getting a fair value for what you’re offering, of course. When you’re bartering, it’s not always easy. Take under consideration what you’d make if you merely sold a service or product, also as what it’ll cost you to offer it away for free of charge.

6. Consider Where You’re Getting Your Power

We typically just call up the utility company and have them start our service once we found out a replacement office. Depending on your state, you may be able to bid out your power and gas usage.

7. Encourage Your Employees to Get Healthy for Cutting Office Costs

Whether or not you can offer health insurance, healthy employees are less expensive. You don’t need to worry about as many sick days, lost productivity, or maybe hiring temps. The same thing goes for you, as the boss. Losing time to mild illnesses are often an enormous drain on your business, so take food out of the slot machine or organize group trips to the gym.

8. Get Rid of the Printer

Having a printer means you’ve got to shop for paper and ink, alongside the occasional replacement for your current printer.

9. Ditch the Phone Line

As long as you’ve got an online connection in your office, you’ll reduce or maybe eliminate your costs for the telephone company. There are a variety of voice over IP tools that not only let you take phone calls through the internet but also give a phone number or call out to a regular phone line easily. There are also a variety of fax services.

To find out more Office administration tips, you can click here: https://lookoffice.vn/category/office-administration-tips/

For Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/9-unusual-ways-to-cut-costs-in-the-office

Read Vietnam Economy Weekly News

Office Grades Explained

Office space classifications were created to assist estate agents, surveyors, investors, and everybody else within the property industry categorize building quality so as to justify property prices. However, there’s no formal international standard for classifying office buildings. So, to clarify the difference between a grade A office block and sophistication c office space once and for all, we’ve compared resources from around the web, talked to industry experts, and drawn on our own knowledge from years within the industry to make a definitive explanation about Office Grades.

Office Grades is What is Grade A Office Specification?

A grade A office block is the pinnacle quality that will be achieved. This property is going to be fresh or have undergone an entire redevelopment with a high-specification renovation, it’ll be well-located with good access and be professionally managed in Office Grades.
Generally, there tends to be a bigger provision of this classification of offices in large cities where demand is highest and there’s a better level of occupier churn. Also, grade A offices can often be found in high-rise buildings, meaning higher limits, a more spacious, naturally-lit space, and a central, manned lobby.
Due to their high standards, these properties cost more to get, however, they provide higher rentals.

What is Grade B Office Specification?

The term ‘class B office space’ refers to property that has been previously occupied and isn’t quite to the extent of quality expected of a Grade A office. Grade B office space is taken into account ‘average’ and perfectly usable.
This type of commercial space may be categorized as so because it is in a less desirable location, for example in an out-of-town industrial estate rather than in the city center, or because it hasn’t been renovated in recent years. In fact, some properties set out as grade A but get downgraded with time.

What is Grade C Office Specification in Office Grades

Class C office space in Office Grades is that the lowest specification available. This usually refers to buildings that are twenty plus years old and are found in less advisable areas. These buildings aren’t aesthetically pleasing, technology is out-dated, and infrastructure is lacking, therefore they provide rock bottom yields and are often targeted by developers and utilized by smaller companies.
With large renovation, grade C office space can become grade B, but it’ll never become grade A thanks to its age and size.

What Influences an Office Space Classification?

When defining which category a billboard property fit-out adheres to, there are a variety of elements to think about, including:

• Property age
• Location
• Access
• Parking
• Number and speed of elevators
• Security
• Construction
• Nearby or onsite amenities

To find out more about the Know-how to lease/rent an office, you can click here: https://lookoffice.vn/leasing-office-news/know-how/

Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/office-grades-explained

Read Vietnam Economy Weekly News

Legal Procedures Needed When Renting an Office

Searching for an office does not just stop at finding a suitable office address, but it is more important for those who rent an office that is to have an office lease with terms of assurance. Harmonize interests between businesses and building management units and especially ensure legal procedures required by the state.

1. Office lease contract in Legal Procedures

An office lease is a written document that is bound by the lessee of the office and the lessee. As with any other contract, an office lease should be thoroughly reviewed by an attorney.
Most lawyers can review a lease in less than an hour. Therefore, the service fees that have to be paid to a lawyer to do this are not a huge expense, but it is a way to ensure safety and avoid problems that may arise in the future.

2. How to calculate the rental price and the office space

Many leases offer common ground rent per square meter. This price can be confusing.
Sometimes it includes unusable spaces, such as hallways and elevators. It makes it difficult to compare two contracts with each other.
In that case, look at the total payable. Sometimes a slightly smaller space with a slightly higher price per square meter may be more efficient for your business, as the space is more streamlined and has a higher use value ”.

3. Office lease term for Legal Procedures

New business owners sometimes don’t want to rent out a location for a long time, or just for a short time. That way, they take the precaution that if the business fails, they won’t be forced to pay large sums of money for a space that is no longer in use.
But it can be difficult to rent in the short term if you are in a stressful real estate market.
As rental space becomes scarce, many office buildings fail to satisfy tenants with tenor of less than one year.

4. Repair of rental premises

You may want to save money by making repairs yourself, but most leases require permission from the building or the owner’s company.
It is a good idea to present your remodeling plan before signing the lease.

5. Legal Procedures is What should and should not be in the contract

Many business owners focus on the rent and not on what they get for the money. Some buildings agree to pay for electricity and part of shared area maintenance.
There is a full lease, covering all costs, but some landlords or property management companies only sign a lease where they pay only property taxes, insurance, and insurance themselves. maintenance. In these cases, the rent will be lower.
Business owners should be wary of non-money terms too. For example, does a landlord require that lights, fans, or air conditioning be turned off after work or on weekends? This clause will make it difficult for you if you plan to work overtime.
In addition, the fee (if any) when working overtime or overtime should also be included in the contract.

6. Sublease and usage rights permitted

If you decide to move or only use part of the rentable space, you may want to sublease or lease out part of the space you are renting to another business. But this in turn requires permission from your landlord.
Most leases specify what kind of work you are allowed to do. Homeowners often want as little “allowable use rights” as possible. So, in most cases, you should go about the regulation more broadly, in case you plan to grow your business later.

7. Costs of inflation prevention

Beware of inaccurate operating cost calculations. It is not uncommon for landlords to charge 10 to 15 percent more than their real costs.

To find out more Office administration tips, you can click here: https://lookoffice.vn/category/office-administration-tips/

For Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/legal-procedures-needed-when-renting-an-office

Read Vietnam Economy Weekly News

How to Find a Cheap Office for Lease in Saigon

Office space is one of the large expenses a growing or small company incurs. Negotiating an inexpensive office for lease can prevent enough cash to rent a couple of more employees or to launch a marketing campaign.

Don’t compromise about location of Cheap Office

Firstly, you should ensure that the office is close enough for your team members to commute even if you must pay a little bit more for the exact location. In the long run, it will be cheaper since you can keep better employees around. Losing key employees can devastate your business and it’s not worth it at all. Don’t forget to stay clients in mind when choosing a location. Is the office building easily accessible? Will they be able to find it easily? Moreover, if there are places you would like to go to often for business purposes like meeting spaces or banks, they ought to be nearby also.
However, in Saigon, an office for lease in district 2 is a good option that many people have chosen.

Have a Strict Budget in Mind

If the cost is your biggest concern, determine the number before you even start looking to find a budget that will allow you to operate comfortably. Don’t choose an office that’s getting to put your business into debt and stunt its growth. It’s not that important.

Account for Extra Expenses for Renting Cheap Office

There are tons of expenses that enter renting an office. Extra expenses can add up faraway from what you think that if you don’t account for them in your original budget. Think about all of them, and confirm they’re spelled out clearly within the Lease. Don’t just take your landlord’s word that some utilities are included only to be charged later since that wasn’t officially stated in your lease. You also need to know who is responsible for repairs, you or your landlord.

Get help from an agent

It’s never a bad idea to find help from a real estate agent when renting a property. The process of finding an inexpensive office for lease in Saigon is often overwhelming for a newbie. You are always recommended to seek out a billboard land agent or broker. Make sure they’re conversant in the properties within the area. The whole process is often tons easier and you’ll save some time. An online portal like Mogi is additionally an honest suggestion.

Smaller is better for Cheap Office

Ho Chi Minh city isn’t an outsized city but it’s already overpopulated. Therefore, having an enormous office space will cost your company such a lot of money and it’s not necessary in the least. You can still manage well during a small office as long as you minimize the furniture and arrange everything logically. Landlords are now willing to take small tenants (in previously large spaces) divided into smaller ones. The number of small offices for lease in Saigon has increased.

Consider the lease length

Sometimes, especially for your first office, your company won’t want to urge tied into a long-term commitment. You should consider any case, even bad ones like your business folds, sells, or outgrows the space. For that reason, you actually need to believe where you see your business at the top of the lease period. For example, if it’s a two-year lease, where does one see your business in two years? Do you have an actual decision to get there?

To find out more about the Know-how to lease/rent an office, you can click here: https://lookoffice.vn/leasing-office-news/know-how/

Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/how-to-find-a-cheap-office-for-lease-in-saigon

Read Vietnam Economy Weekly News

Contract Types & Templates

OfficeR&D supports 3 default types of agreements:

• Membership Agreement
• License Agreement
• Lease Agreement

Membership Agreement ( Contract )

The Membership Agreement is more popular within the Coworking World and maybe a thanks to putting a framework and structure around the relationship between you and your members. Usually, the membership agreement specifies the subsequent details about the relationship:

• Start of the contract.
• The number of members/seats/memberships.
• Type of memberships.
• Applied discounts.
• General T&Cs, including Termination & Break clauses, and like this.

The Membership Agreement should never specify the precise office or space that’s given. We recommend that you simply specify a language and terms that allow you to maneuver the members around the space without having to sign a replacement contract. This enables more resilience around upgrading, changing, and downgrading memberships without breaking the terms and conditions.

License Agreement

On the opposite hand, the License Agreement is more structured around the exact office that’s provided to the customer. Originating from the Serviced Office industry within the UK, the License Agreement has more strict rules about its structure and data that it holds. The most important bit is that it expressly states the office that it is licensing. This means that if the member requires to upgrade and change offices, you will have to discontinue the contract and issue a new one for the new office. It is important to notice that the licensee is considered a Member of the Space.
Usually, the license agreement specifies the following details:

• Period and length.
• The name, location, and the number of offices.
• Additional services.
• Applied discounts.
• General T&Cs, including Termination & Break clauses, and like this.

Lease Agreement ( Contract )

While the first two types of contracts are placing the member on the customer side of this, the Lease Agreement, also known as a Tenancy or Rental agreement, is usually signed between a Tenant and a Landlord. Broadly put, a lease agreement may be a contract between two parties, the lessor, and therefore the lessee.
It is important to notice that the Lease agreement usually has more legal consequences.

IMPORTANT: Please, consult a lawyer to form sure the sort and details of the contract also because the terms and conditions reflected within the contract as needed by law in your country or region.

Templates

Following are some important notes about the templates:

• Customize – you’ll fully customize the default templates or contact us at support@officernd.com to assist you customize them consistent with your design;
• Add New Template – you’ll easily add more templates, in case:
  • You need a template in different languages.
  • You have different templates for various sorts of services you provide.

To find out more Office administration tips, you can click here: https://lookoffice.vn/category/office-administration-tips/

For Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/contract-types-amp-templates

Read Vietnam Economy Weekly News

Investing in Vietnam’s Consumer Market: An Overview

Vietnam’s consumer market is consistently evolving, driven by changing consumer lifestyles, income, and behavior. The country has experienced a gentle progression of income in recent years, which may be seen in its rapid climb of total consumer expenditure from US$80 billion to US$171 billion between 2010 and 2018.
This shows that Vietnamese consumers have extra money to spend. In fact, within the primary nine months of 2018, the country experienced an 11.3 percent of increased spending. This growth in consumer activity has undoubtedly created openings for businesses to supply new services and products that are available for consumers.

Evolution of the consumer market in Vietnam

The steady flow of foreign investment into Vietnam has, and can still, propel the economic process. This growth has significantly increased local spending power, with a rise within the expenditure for both urban and rural consumers.
Vietnam’s consumer base may be a young demographic between the ages of 25 and 54 years old, accounting for 45.56 percent of the population in 2017. Vietnam’s consumer demographic is analogous to other countries within the region, like Singapore with 50.53 percent of its population within the age range of 25-54 years old in 2017. However, it’s still relatively younger than developed markets, like Japan, which has 37.5 percent of its population between 25-54 years in 2017.

Assessing industry opportunities

Consumer spending in Vietnam has seen growth in numerous industries, which has changed the market. For example, there is a growing demand for high-quality education; students enrolled in higher education went from 16 percent in 2005 to 29 percent in 2015. The needs of Vietnamese people are changing and may be seen in their demand for higher standards across not only education but health and leisure, to call a couple of.
In 2017, Vietnam’s healthcare expenditure was approximately US$16.1 billion and is projected to grow by US$22.7 billion by 2021. Further, the Ministry of Industry and Trade predicts Vietnam is going to be among the very best three countries in Asia for the highest rate of growth of the food and beverage industry by 2020. This shows people are more willing to enjoys simple everyday pleasures.

Evaluating locations for investment in Consumer Market

Investors should consider a mess of things when surveying a possible investment site. Spending habits are influenced by region due to various levels of wealth and income, also as cultures and preferences in each area. Ho Chi Minh City, for instance, is formed from seven urban districts, all with varying demographics.

Role of e-commerce

The rising role of e-commerce in Vietnam is reshaping consumption – with the amount of internet users rising, people are turning to online retailers. Currently, of Vietnam’s 92 million population and 55.19 million internet users, 35.4 million people use e-commerce as a way of shopping. The total revenue for e-commerce transactions has reached US$2.2 billion and is predicted to succeed in US$4 billion by 2021.

Doing business in Vietnam about Consumer Market

The urbanization of Vietnam’s population has generated greater spending power within the country. However, there are a couple of key factors that pose a challenge when doing business in Vietnam. It is important to know cultural barriers that affect contract negotiations and enforcement, conducting appropriate partner vetting within opaque operating conditions, and being mindful of your time delays when transporting goods due to infrastructure difficulties.

Source: Vietnam-briefing

To find more about guide for business and investment in Vietnam, you can click here: https://lookoffice.vn/economy-business-investment/guide/

Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/investing-in-vietnams-consumer-market-an-overview

Read Vietnam Economy Weekly News

Types of Office Layout You Should Know

There are some typical types of Office Layout for you to decorate your office. But first, you need to know what is Office Layout.

Office Layout

The layout of your office is a crucial factor that affects how your employees will perform their tasks. Before you opt on your office layout, you would like to form sure you’ve got identified your office planning objectives. Once these are in situ, you would like to believe the kinds of tasks that your employees perform, their need for interaction with one another and clients, as well as the accessibility of support functions.

Types of Office Layouts

Gone are the days of cubicle-only workplaces. Now, there are many types of office layouts to support different work styles and company needs. Here are some examples of office layout types:

Traditional Type

A traditional office layout is formed from individual offices that are “built-in” meaning that they’re permanent or semi-permanent. This sort of office layout will include a mixture of enclosed offices and meeting spaces with a more open reception area for receiving customers.

Cubicle Type

A cubicle office layout may be a sort of open office plan where the workspaces are created using partition walls on 3 sides to make a box or “cubicle”. This sort of workspace is more room and cost-efficient compared to built-in offices. It is typically utilized in combination with built-in meeting rooms and personal offices for senior staff.

Low Partition Type

A low partition office is the more modern version of the cubicle office, where the height of the partition walls around the workspaces is lower to allow for more light and interaction between workers. Like a cubicle office layout, it’s going to include built-in meeting rooms and offices if more privacy is required.

Team-Based Type

A team-based office layout may be a newer sort of layout where workers are grouped by team. The size and space allocated to every team vary counting on the sort of labor that must get done. A team workspace will often encompass individual workstations and a collaboration space. This reduces the need for meeting rooms.

Open-Plan Type

An open-plan office does away with party walls altogether. Instead, work areas are created and defined using furniture. Desks may be lined up side by side to create “banks” or they may be replaced with multi-person work tables called “benches”. Tables and lounge seating are used to create informal meeting and collaboration areas. The appeal of this sort of office is that it’s very flexible and may recoil, contract, and be reconfigured easily.

Hybrid Type

The hybrid office is one of the most recent office types. It combines elements of all the above office styles supported the requirements of your company. Think of creating your office layout as if you had a menu, from which to pick and choose different “environments” based on the needs of your company. Innovative new office systems are making this more possible and easier than ever.

Co-Working Type

Co-Working offices are one of the greatest workplace innovations of this century. They allow you access to all or any aspects of a contemporary office without you having to make it yourself. Instead, you pay a monthly fee to become a member. Just check-in and find a workstation or spot within the lounge. Like a hybrid office, a co-work office layout will offer a variety of workspaces from open lounge areas to non-public offices and meeting rooms.

Home Type

Home offices are more popular than ever before as flex-time and work from home programs have made it possible. The layout of your headquarters requires careful consideration also to form it an efficient and productive place for you to urge your work done.

To find out more Office administration tips, you can click here: https://lookoffice.vn/category/office-administration-tips/

For Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/types-of-office-layout-you-should-know

Read Vietnam Economy Weekly News

REPRESENTATIVE OFFICE IN VIETNAM – TYPICAL RIGHTS AND OBLIGATIONS

Vietnam-based representative office of foreign investors may be a dependent unit, which is established under the provisions of Vietnamese law to conduct a market survey and variety of economic promotion activities permitted by Vietnamese law.

Typical benefits of Representative office

• With a representative office, foreign investors can found out a lawful office in Vietnam, recruit staff to manage and promote sale contracts with local business partners, research and develop products, seeking opportunities for the purchase or sale of goods, and provision of services… The expatriate employees who work for representatives can obtain a work permit and two years multiple visa (temporary residence card) for themselves and their family in Vietnam. The license of the representative office is renewed after every two or five years. This means you can perform your investment activities in Vietnam form of a representative office.
• Although a representative office can enhance and support tons for business of the parent company like it’s very easy to manage and save cost and avoid risky things from local compliance procedures: No add valued tax, no corporate tax, no accounting books, no budget, no independent audit required… and it’s easy to pack up a representative office also. This means, operating a representative in Vietnam can help to perform your investment in the most economical option.

Typical challenges of Representative office

• A representative office of foreign companies isn’t allowed to perform profit-making activities, and their activities are limited to plug research and other non-profit activities. In case you are doing not have sufficient information to form a choice to take a position in Vietnam yet, it might be an appropriate foothold in Vietnam. Generally speaking, the initial and operating expense of a representative office is far less than the value of getting a subsidiary. On the contrary, having a subsidiary in Vietnam within the sort of either a Joint Stock Company or an indebtedness Company may be a better sort of investment for an investor who intends to manufacture products in Vietnam or to conduct sales activities. As long as you follow the regulations in Vietnam, establishing a corporation in Vietnam gives you more flexibility in business activities.
• A representative office shall suits labor, social welfare regulations by register for labor use and pay monthly insurance. The compulsory payable amount of social welfare may up to 34,5% on the salary budget. Expats working for more than 3 months shall be granted a work permit.
• A representative office shall comply with personal income tax regulations by register tax code numbers for every staff and declare for monthly personal income tax, prepare and submit annual settlement reports. The personal income tax rate for none resident is 20% on the income earned inside Vietnam, for resident is from 5 to 35% on global incomes.
• A representative office shall suits other regulations like anti-money laundering law, other law, mercantile law for any activity in Vietnam. In particular, the representative should collect and manage all the business records related to any query or question from competent authorities. After every 3 to five years of operations, the tax department will perform inspection procedures to verify the truth, fairness, and lawful of every transaction…
• A representative office shall prepare and submit an annual report for the Licensing Department.
• The operation term of a representative office is 5 years at maximum and may be extended.

According to the highest current local regulations,

• Commercial Law 36/2005/QH11 dated Flag Day, 2005 (Basic regulation)
• Decree No. 07/2016/ND-CP (Detailed regulation)

Typical rights of representative office

• To operate for the needs, within the scope and duration stipulated within the establishment licenses.
• To rent offices, rent and buy equipment and facilities necessary for its operations.
• To recruit Vietnamese and expatriate employees to figure for the office consistent with the provisions of Vietnamese law.
• To have seals bearing its name consistent with the provisions of Vietnamese law.
• To open accounts in foreign currencies or foreign currency-based Vietnam dong at banks licensed to work in Vietnam, and to be allowed to use those accounts solely for his or her operations.

Do be noted that:

#001, In theory, option1, the parent company can pay directly to the local vendors for office expenditures but may have to pay for withholding tax for every transaction and lots of international bank charges.
#002, A better option is to transfer a lump sum amount as a monthly budget to the local bank account of the office, and the office will pay to local vendors with local bank charge rates without withholding.
#003, After every 3 to 5 years of office operation, the tax department will ask the office to provide bank statements, cashbook, petty cash, lawful vouchers for inspection based on tax laws and money anti laundry regulations, with the choice 1, you’ll face some troubles in providing the paid records.
And #004, consistent with a replacement regulation, from March 1st, 2018, foreign representative offices won’t be allowed to open an area checking account directly but become a private account or authorize a person to act as holder account (under a power of attorney).

Typical obligations of representative office

• Not to directly conduct profit-generating activities in Vietnam.
• To conduct commercial promotion activities within the scope permitted by this Law.
• Not to enter into contracts, to not amend or supplement contracts already entered into by foreign traders, except where chief representatives obtain valid letters of authorization from foreign traders or other special cases.
• To pay taxes, fees, and charges, and fulfill other financial obligations provided for by Vietnamese law.
• To report on its operations consistent with Vietnamese law.

Source: Vivabcs

To find more about guide for business and investment in Vietnam, you can click here: https://lookoffice.vn/economy-business-investment/guide/

Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/representative-office-in-vietnam-typical-rights-and-obligations

Read Vietnam Economy Weekly News

5 Things to Consider Before Renting Retail Space

There are specific aspects to be thinking about when it comes to renting retail space, compared to other forms of commercial property. Some of these are to do with the building itself, and the location, others are in the details of the leasing, the negotiations before you sign a lease, and the specific nature of the market.

Define your budget When Renting Retail Space

It goes without saying that you need to think about what you can purchasable long before you start looking for a new, or maybe your first shop. Have a clear red line that you won’t cross at the top end, but also have the lowest price and a mid-range, and compare what’s out there with your expectations.
It’s essential that you are aware that the base rent – one of the advertised or first offered by a landlord – is by no means the bottom line cost. On top of rent, there are a host of charges and fees that aren’t advertised: business rates, service charges, the cost of repairs and maintenance, and energy bills, to name a few. Many first-time renters have had a nasty shock once they have added these costs up: between them, they will be the maximum amount as or quite the rent itself.
Bear in mind also that rent on retail premises is paid quarterly, on set calendar dates. It is due whether a landlord has sent a tenant an invoice or not – it’s the legal obligation of the tenant to pay their rent. And one among these payment dates is, rather cruelly, Christmas. The toughest time of the year for retailers is usually post-Christmas: it’s the time when most businesses enter administration, under the load of the December rent payment.

Lease or license?

Retail tenants are often unaware of a choice to occupy a billboard property without signing a lease: through a license. There are agreed to this but also major downsides.
The benefit of taking a license is that it is a low-commitment option for renting a store on a short-term basis. As a result, this is ideal for a brand wishing to douse its toe into a market or open a pop-up store for a short time.
The downside is that it’s much more precarious for a licensee compared to a corporation leasing an area. There isn’t what’s referred to as ‘security of tenure’ which guarantees a tenant certain rights, including ‘exclusive’ access to a property, i.e. the right to not allow a landlord to enter. A license can be revoked with a change of ownership, and there is no guarantee the property will be available when the license is terminated.

Find the perfect spot of Retail Space

In retail property much more than for offices or warehousing, your surroundings are particularly important to trade. If rent is reasonable it’s actually because of the environment and low footfall, and while it’s tempting to save lots of money, remember that without the passing trade you won’t do much business.
It’s also important who’s near you, whether or not they are competitors or other sorts of business which may help or hinder trade. This consideration is part of the lease negotiations, and a landlord of a shopping center will usually be willing to discuss a clause which means they won’t, for example, place you directly next door to a competitor in the future.

Negotiating lease terms

Remember that base rent isn’t set in stone. Where there tends to be little or no leeway within the residential renting sector, in retail property landlords expect to be beaten down from the first price during the negotiations, and will often offer incentives, such as rent-free periods, to get a tenant in.
When it comes to negotiations you need to be tough, and remember that you can negotiate almost any aspect of the lease if you know-how – especially if you have a good adviser on your side.
Remember you’ll always walk off from a deal. Even when the initial broad strokes of a deal are put in writing – during a document referred to as a heads of terms agreement – there’s still room for negotiation and even to tug the plug if you aren’t happy.
That includes over fine details like whether a lease entails rent reviews and the way often these are, whether it permits you to sublease a property, the obligations on service charges, and many more considerations.

Information is key for You to Rent a Retail Space

In all cases it’s essential that you do thorough research before you start, and as you go through the search process. Realla’s search portal provides a wealth of data about the properties out there on the market with numerous tools to refine and filter results supported your own requirements and budget. And the market data function gives you access to detailed intelligence and native research into an entire city, town, region, or a private area of interest.

To find out more about the Know-how to lease/rent an office, you can click here: https://lookoffice.vn/leasing-office-news/know-how/

Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/5-things-to-consider-before-renting-retail-space

Read Vietnam Economy Weekly News

How Long of an Office Lease Term We Need to Sign

Here’s How to Purpose Which Lease Term is Best for Your Company

How Long of an Office Lease Term We Need to Sign?

While the typical length of it can vary based on the market location and its conditions, current vacancies, and upcoming developments, there are both benefits and disadvantages to signing a short-term (less or three years ) or long-term (6-7 to 10 years and more) lease.
You should note that the more competitive the market you’re in, the longer leases you ought to anticipate landlords requiring. Here, we examine the benefits of different lease lengths to help you decide what’s best for your company’s next office space.

Benefits of a Short-Term Lease

Typically, a short-term lease makes more sense for smaller companies that are still in the process of growing and want to prioritize flexibility over stability.
If your business requires flexibility to expand or downsize, it’s going to make the foremost sense to sign a short-term lease, as an extended lease may hinder your company’s ability to grow.
A short-term lease will be advantageous if the office space no longer works for your company in the near future. If you are not legally obligated to the space with a long-term lease, you’ll avoid the potential expenses of subleasing your space or terminating your lease early within the event of a move.

Benefits of a Long-Term Lease

A long-term lease can give established companies with both financial and logistical stability, plus more negotiating power during lease discussions with the owner down the road.
If you anticipate rental rates in your market to climb, it is often to your advantage to sign an extended lease and lock in today’s lower rental rates, instead of renewing at a future, potentially higher rate.
This is particularly true for stable companies that have clearly defined growth projections and like to lock-in a positive rental rate.
However, this could be true for growing companies; by negotiating expansion rights in your lease, you can sign a long-term that will allow for expansion that will match your company’s growth over the lifetime of the rent.
Long-term leases also can assist you avoid relocation costs, which may include new office build-out costs, technology and other infrastructure expenses, lost productivity thanks to downtime during the move, and additional moving and furniture expenses.

Negotiate Larger Concessions

If your company doesn’t need flexibility in it, you’ll often use an extended lease as leverage to barter more concessions from the owner.
When you sign a long-term lease, the landlord can spread the deal costs out over many years, so they can typically get more aggressive with concessions. These may include: a bigger tenant improvement allowance, discounts on rental rates, building signage rights, better rental rates, more favorable non-economic terms like expansion rights, and more.
There are a variety of the way to structure a lease to suit your business’s needs. A qualified tenant representation broker can assist you determine what sort of lease is going to be best for your company’s needs and find options on the market which will best fit these needs.

To find out more about the Know-how to lease/rent an office, you can click here: https://lookoffice.vn/leasing-office-news/know-how/

Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/how-long-of-an-office-lease-term-we-need-to-sign

Read Vietnam Economy Weekly News

Best Tips for Doing Business in Vietnam

The Vietnamese’s Business are incredibly open and optimistic about foreign investment and thus the opportunities brought by increasing integration in international markets. They are also usually very keen to share their proud culture, tradition, and history with foreigners so as to guard their local customs and heritage during a rapidly developing and outward-looking society.

Greetings for Business

The Vietnamese language has a stimulating set of pronouns. There is no direct translation for ‘I’, ‘you’, ‘he’ or ‘she’ in Vietnamese because the words wont to address people are decided by generation also as gender. For instance, someone younger than you will be addressed as ‘em’, while a friend the same age is ‘ban’, yet a male your grandfather’s age is ‘Ong’. Dozens of pronouns are necessary to assist fully clarify the strict generational hierarchy of Vietnam. Most teenagers would agree that their parents know what’s best when it involves big decisions about their future.
Experience, wisdom, and pragmatism prioritize over youthful idealism. Therefore, it’s always best to offer a two-hands handshake to the oldest people in the room first, and the youngest last.
When pitching an idea, try to have an experienced colleague focus on the practical real-world solutions you’ve already established, rather than losing your audience in speculative, ideological, or conceptual discussions.

Eating

Generation also plays a key role when eating. Usually, meals are a family occasion, so paying individually may be a baffling practice for many Vietnamese. If you invite a group of people to eat with you, it’s your responsibility to settle the bill, with the oldest male traditionally reaching for his wallet.
Vietnamese people like to eat and are very pleased with their traditional cuisine. They will be overjoyed to listen to foreigners hum while eating and saying the word ‘delicious’. Rice products, noodles, fresh vegetables, and hot-pots form the backbone of the Vietnamese diet, along with every kind of meat imaginable. Tropical fruits like guava or green mango, served with salt, are a standard snack during meetings,
It’s also worth bearing in mind that lunch may be a meal reserved for family. Between 11:30 am and a couple of pm, schools close and workers head home in order that families can enjoy lunch together. As Vietnamese working hours can stretch from 7 am-9 pm in tropical weather, Vietnamese people also like to take a nap around midday. It’s not wise to suggest a call or meeting that might disturb this organization, so a business dinner is a much better idea than a working lunch.

Making conversation in Business

When sitting right down to eat, you would possibly be surprised by a number of the questions you’re asked. It is
unpopular for people to ask “How are you?” as there’s no direct translation in Vietnamese (the closest being: “Do you’ve got strength?”)
Vietnamese people may ask “How old are you?” – usually considered a faux-pas. But don’t be offended – this is just to gauge how they should address you as part of the generational hierarchy. In fact, cutting years off your true age may prove detrimental.
More common opening questions in Vietnamese include “Where are you from?”, “How many people in your family?” and “Are you married yet?” The relatives remain very strong in Vietnam, and sharing pictures of loved ones enjoying free time together is going to be very endearing, portraying an individual of wholesome character.
Image is vital in Vietnam, especially when doing business. You must be professional, but it also helps to illustrate that you are a charitable person and a dedicated family member.

Being honest

When sharing photos, try to not be stunned by common Vietnamese compliments like “Your daughter is so beautiful” or “Your family are so rich”. Due to their mother tongue’s simple grammar and logical vocabulary, people in Vietnam generally call things as they see them and like to speak in a very clear and straightforward manner. This can lead Vietnamese people to sometimes encounter to Westerners as quite abrupt, especially if they ask frank questions like “How much does one earn?”
However, some in business might find this refreshing, as cutting to the chase and displaying results are often far more effective than drowning people in euphemisms and jargon.

Negotiating about Business

Don’t be afraid to clarify your position clearly, because you’re going to be negotiating. Like most Asian countries, Vietnamese businesses tend to favor fitted, flexible deals over standardized, fixed arrangements.
The figure you’re quoted first is typically just your trading partner’s target; their ideal results of the negotiations. Your response should then be your minimum amount, which then sets the home in which negotiations can happen.
Vietnam’s exponential growth has created an optimistic economy, but one that’s also increasingly competitive. Businesses are looking forward to foreign investment to realize the advantage. It is therefore important to understand the context in which you are negotiating and offer the right sweeteners to any deal. For example, long-term sustainable partnerships with flexible terms are seen as favorable to strong contracts with short-term gains.
Image is additionally paramount, and doing business with large organizations in developed countries may be a big indicator of success and prestige to Vietnamese consumers. Any deal involving publicity, marketing, and media opportunities boasting international relationships would be very desirable.
It’s also crucial to recollect that Vietnam only joined the worldwide marketplace three months before Jeff Bezos founded Amazon. Free markets are still somewhat of a replacement phenomenon. Vietnamese businesses are keen to find out the secrets of successful, sustainable growth from large multinational firms. Offering cutting-edge software, online technology or simply secrets to international success in your industry will likely sweeten any deal.

source: vietnaminsider

To find more about guide for business and investment in Vietnam, you can click here: https://lookoffice.vn/economy-business-investment/guide/

Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/best-tips-for-doing-business-in-vietnam

Read Vietnam Economy Weekly News

A Step-by-Step Guide How to Rent an Office for Small Businesses

Below is a helpful guide that will show you step-by-step how to lease office space for your small businesses.

9 Steps to Renting Office Space for a little Businesses

  
Step 1: Calculate what proportion of Square Footage you would like

One of the first things you’ll need to purpose when you start looking for an office is to lease is how much square footage you need. To help you calculate the quantity of office space you’ll need for your businesses, we’ve pulled together some basic square footage calculations, also as some tips to assist you envision your space.

Step 2: Determine your budget

Before you’ll even begin watching office spaces, it’s important to understand what your budget is. Knowing your budget will help you narrow down your options upfront based on what you can realistically afford.

Step 3: Research and tour office spaces

Research different office spaces available in your area and visiting. It’s best to see the space in person to check out the area, meet your potential new neighbors, and to visualize what it would actually be like to work there.

Step 4: Decide on an office for your Businesses

Out of the different office spaces you toured, decide which one is right for your business. Here are a few questions to ask yourself:

• Is the location convenient for your clients?
• Is the location convenient for you?
• Is the location right for my employees/potential employees?
• Is there parking available?
• Is it affordable?
• Is it located near stores (banks, post offices,…) and other conveniences that are necessities for you?
• Are you allowed to redecorate and customize the space?
• Is there a kitchen you can use?
• Does my business have room to grow during this space?
• What do current tenants say about the office rentals here?

These are just a few questions to get you started. Check out this checklist of 20 questions to ask yourself before choosing an office space for a helpful list of things to ask about and consider as you’re reviewing potential spaces.

Step 5: Leave room to grow

Consider extra space if you propose to grow your team. While you’re growing your business, you may be able to sublet the extra space to another renter for additional income. (Keep in mind, the original lease will need to include sublease options upfront.)

Step 6: Determine all costs

Make sure to look at all the costs associated with the move. Calculate the entire cost of rent, utilities, moving expenses, construction costs (if any), etc. And confirm you’ve budgeted sufficiently for the length of your lease.

Step 7: Get your financial documents ready when growing your Businesses

Before you’ll lease office space, building owners will want to work out if you’ll pay the rent! Typically, the owner will require a security deposit. Start collecting important financial documents including tax returns, bank statements, financial references, and a bank letter of credit to prove that you are able to cover the expenses.

Step 8: Finalize special requests

Do you plan on having the office space renovated before you progress in? Does the contract include the setup of wifi or any other special agreements? Make sure all these details are covered before the move-in date.

Step 9: Move-in

Move into your new place and make it your own! Make your workspace creative and unique by adding your own
personal contact.

Don’t forget to let people know your business has moved to another place! Here’s a helpful checklist to assist you update your address altogether in the proper places.

To find out more about the Know-how to lease/rent an office, you can click here: https://lookoffice.vn/leasing-office-news/know-how/

Foreign companies want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/a-step-by-step-guide-how-to-rent-an-office-for-small-businesses

Read Vietnam Economy Weekly News