How difficult is it to open a bar in vietnam?

Question

I was in Vietnam in January and I'm comming back on April 2nd to find information on opening a bar. I'm just curious is there a liquor license required? What are the taxes policies there? How hard is it to lease a space in Pham Ngu Lao area (Backpacker District) in Ho Chi Minh City. How much money do you need to pay in advance in order to lease a space there? How do I get a bank account there if I'm an expact. Can anyone help me. Thanks!!!!!

Any extra information would be greatly appreciated.

I'm really serious about doing business in Vietnam!

Answer 1

Don't do it my brother was trying to do it three years ago. He have to bribe many government officials at their request. After all that running around he lost up to $100,000 USD, and still no bar as of now.

Answer 2

It is very difficult to open a bar in Vn without the help of a Viet national as a partner.

First of all,unless you speak the language, you will lose all of your money almost immediately.

Secondly, the real estate prices in Distinct one are astronomical. Up to $66,000 USD/meter to buy, I'm unsure of the leases but they will also be very high.

Taxes in HCMC are also very high, and as a foreigner, they will be higher still. also, as a foreigner, I don't believe you can open a bank account without a work permit, which costs a few hundred dollars if you are employed for a company. I'm not sure what a "self-employed" permit would cost.

In other words, Find a Viet partner and do a lot more research through the Viet consulate on opening a business.

Also, read some of the on-line Viet business papers, rents in District 1 are about $50/meter now, ie. $15,000 a month for 300 sq. meters and tenents have basically no rights.