Background Check Service in Vietnam

 Why need the background check service in Vietnam?

Vietnam is a developing countries where opportunities are coupled with risks. Risks in Vietnam could appear in different forms i.e. risks in doing business with untrustworthy partners or incapable partners, risks in employing the wrong people or people with criminal record, risks in buying goods from scammers…Hence for the significant transactions, many companies hire professional to assist with background check service in Vietnam

Vietnam has been strongly attracting direct investment capital from foreign investors or indirect investment through merger and acquisition or cross-border transactions i.e. buying and selling of goods. Although Vietnam is working on improving on the level of transparency, it is advisable that foreign investors and traders take effort to learn about their partners before cooperating with them. In other words, it is important to understand an individual or enterprise before joining venture with them in Vietnam so that the investors may reduce the minimum risks that may occur as well as evaluating the possibility of cooperation in the future.

With the development of internet, the world is much more connected. Obviously, business could be done much easier with just of click. But, there are many incidents which scammers happen to be in Vietnam to use internet and lure foreigners to buy goods or make investment. More cases have been reported during and after Covid pandemic because the practice of using social media grow while the need for face to face meeting reduce. People could be more relaxing to do business without visiting site, meeting partners than before. This is where the scammers take advantage.

If the investors or traders ignore this step of due diligence of partners, they may take heavy consequences. It may be a loss of money, time, and reputation.

Many investors investing in Vietnam for the first time or traders new to Vietnam use survey results from third parties, that is, the professional companies specializing in the investigation of market information, partners assessment, employ background check.

What matters in background check service in Vietnam?

To learn about the new market, it requires understanding of cultures, business practices, languages. Each country is different. Vietnam is different. Not many people from different background could pick up strange behaviours, and red-flags. If the investors or traders conduct the investigations themselves, the results may be inaccurate and not objective.

Further the investors or traders can save time as well as money to focus on other professional activities.

With a team of experienced professionals, they are business minded people, people with skills in desktop research and human research, the professional companies specializing in background check service in Vietnam could conduct market research, information research through having access to market intelligence, people intelligence to meet requests from the investors or traders.

Do not let the lessons to be learnt the hard way!

Therefore, if you are going to invest in Vietnam, we recommend you to conduct a thorough background check service in Vietnam.

Research for records of enterprises or record of individuals in Vietnam;

Research for the reputation of the company or individual who shall be your business partners in Vietnam;

Research for the history of public information about the company or individual.

Employee Background Check in Vietnam

It might be obvious to professional but it could be not so obvious to the investors and traders whom are eager to see some too good to be true opportunities. Trust in business is important but it could and should be backed up by facts. If details do not match, be alerted and use the background check service in Vietnam to safely invest and do business in Vietnam.

Read More

Market entery into Vietnam market through merger and acquisition

Over the past 10 years, Vietnam has always been one of the leading M&A destinations in Southeast Asia. Many international investors have chosen Vietnam as their place of business destination to set up company and apply for investment registration certificate under direct investment or acquiring shares or capital contributions through M&A.

M&A activities enable international businesses to take advantage of the existing business platforms of Vietnamese businesses to continue making investments. This helps international investors to timely grasp the changing trend of technology, legal policies, and facilities to do business, instead of rebuilding from scratch, it will take more time and effort.

Recently, the M&A market in Vietnam has been active and attractive to many investors around the world, especially in the retail and financial sectors. Many international investors have undertaken significant M&A deals in Vietnam over the years and achieved significant profits in their business.

There are many reasons for investors to choose Vietnam as a place to do business, but some of the main factors that make Vietnam attractive are political stability and its economic growth, despite the effects of the Covid-19 epidemic. In addition, with a population of 100 million people, this is considered a large consumption market, along with an abundant and high-quality labour source.

Currently, with the trend of moving production out of China, many investors have chosen Vietnam as the location of setting up company for manufacturing facilities. Rebuilding factories from scratch also makes investors time consuming and costly, therefore taking advantage of Vietnamese factories will help investors not to interrupt their production, and operate the business in a best way.

However, to be able to perform M&A activities in Vietnam, foreign businesses need to understand the Vietnamese market and partners before performing M&A. This will help investors understand the partners’ strengths and weaknesses, and outline a suitable business path after implementing M&A. In addition, to avoid unnecessary risks relating to the transaction and to the business itself, investors need to find a reputable and experienced professional consulting company that could help with market research, background check, management criminal record check, business certificate verification, corporate and individual reputation to build up confidence in doing M&A deal in Vietnam.

Read More

Da Nang – Singapore To Cooperate for Development | ANT Consulting

On May 12th, 2021, the representative of Da Nang city had a webinar with representatives of Ho Chi Minh City and Singapore on economic development, which the seminar was attended by nearly 200 companies from different industry whom are potential investors from Singapore, interested in setting up company in Vietnam.

During the seminar, the representative of Da Nang city introduced the investment and business environment, and preferential policies and investment opportunities of Da Nang city in the fields of high technology, information technology, high-quality services (health, education, logistics). The seminar received the sharing of experience when investing in Da Nang as well as the support of the city government from one of the largest Singaporean investors in Da Nang, and financial solutions when investing in Vietnam from some Singapore experts.

The representative from Singapore Business Federation highly appreciated the potential of the city’s business investment environment and proposed Da Nang city to establish the Da Nang Information Center (Da Nang Desk) located at the Vietnam Connection Center at the Singapore Manufacturing Federation (SMF) to connect Da Nang with Singapore companies.

Da Nang City is inviting Singaporean investors and businesses with financial and technological capabilities to learn about the business investment environment and cooperation opportunities in the city. The representative of Da Nang City highly appreciated the proposal to set up Da Nang Information Center in Singapore and assigned the Investment Promotion and Support Committee to propose a model, serving as a bridge to support the environment and business investment opportunities of Da Nang to Singaporean enterprises in particular and international in general; thereby further promoting the investment cooperation relationship between Da Nang and Singapore in the coming time.

Singapore is one of Vietnam’s most important trade and investment partners. In 2020, despite being affected by Covid-19, Singapore invested in 248 projects in Vietnam with a total capital of nearly 9 billion USD, making it the leading country in foreign investment in Vietnam. Accumulated to the end of 2020, Singapore is the 3rd largest foreign direct investor in Vietnam after Korea and Japan with a total of 2,629 projects and a total registered capital of more than 56.5 billion USD. In 2020, the total two-way turnover between Vietnam and Singapore reach over 6.7 billion USD, of which the export value of Vietnam’s goods will reach 3 billion USD and the import value will reach USD 3.7 billion.

Singapore is one of the key markets for investment attraction of Da Nang, currently the city has 28 Singapore FDI projects with a total registered capital of more than 838.4 million USD, ranking 2nd in the list of more than 50 countries and regions, territory, accounting for about 22% of total registered investment capital.

Da Nang City hopes that many investors from Singapore will invest in Da Nang to help the city achieve its goal of becoming the largest financial center in Vietnam. And the Singaporean investors can enjoy the best incentives from the city to get the best return on their investment from establishing company through foreign direct investment or making investment through M&A with local company. However, it is always important to undertake background check, search the reputation of the local company, local director and have full assessment on the business and financial risks in cooperating with local partners.

Read More

Passing Thailand, Singapore, Vietnam Leads the Region in The PMI Index | ANT Consulting

Vietnam’s Purchasing Managers’ Index (PMI) has risen from 51.8 in August to 53.3 in September. Nikkei evaluated that the business conditions of the month had a strong improvement, achieving the best speed since April. Accordingly, the health of this field is positive during the past 22 months.

Ranking the countries according to the PMI index of the month, Vietnam continued to lead the overall growth list with the PMI index rising to a high in September. The Philippines advanced to the second position with 50.8 points, although overall growth is still light.

Indonesia with 50.4 points indicates that business conditions continue to be improved while Thailand has rebounded to 50.3 points after a decline in the previous two months. After the improvement last month, Malaysia (49.9 points) recorded almost unchanged production conditions in September. Meanwhile Singapore (48.6 points) fell into the decline. Myanmar (49.4 points) continue to have weak business conditions, although the speed of decline is light.

Analyzing the reasons for growth in Vietnam, according to the Nikkei, customer demand increased and new orders increase as a result. This is the most significant increase in 5 months. Order growth rate also improved sharply in September.

Thanks for that, inventories also fell for the third month in a row, the biggest drop since July.

Production output of Vietnam has also increased in 11 consecutive months. All three areas of the market have increased production, led by companies producing consumer goods.

In terms of input costs, Nikkei noted that due to rising raw material prices, including raw materials from China, input costs rise significantly, the strongest since May 2011. Therefore, in September 2017, for the first time in 5 months, companies must increase output prices.

According to Mr Andrew Harker from IHS Markit, the company that collected the survey results evaluated that the third quarter ended with a positive note for Vietnamese producers. As a result, manufacturers may continue to grow in the last quarter. Nevertheless, he noted that Vietnam should be cautious as inflationary pressures reappeared.

Read More

Why background check is needed when applying for second passport? | ANT Consulting

Nowadays, it is popular for individuals to have a second passport. It can be seen that in many countries, individuals are restricted to travel freely between countries. Typically, such nationals whom wish to travel abroad are required to apply for a visa which takes a lot of paper preparation for proof of financial status, legitimate reasons and waiting time. 

The investment for second citizenship will help investors get a more powerful passport, less limited mobility, especially in European countries. This is also an invaluable advantage for those who wish to expand their business opportunities internationally. Different countries will have different citizenship investment programs, the most common forms of contribution to national funds and investing in real estate in that country. 

However, in addition to the mandatory conditions for the investment, in order to be able to receive the passport, the investor also needs to go through a certain application review process. Normally, the countries that grant citizenship to foreign citizens will conduct judicial background verification, background check, criminal record, and the investor’s health status such as Cyprus, Montenegro, Bulgaria, Hungary. In particular, the applicant will have to be qualified for civil liability. There are countries that are particularly concerned about the investor’s health such as Malta, which requires the individual applying to have global health insurance, investors and families need to prove that they purchased health insurance in their immigration application. In Cyprus, in order to pass the document check, investors also need to provide proof of the investment money source. Similar in Malta, Montenegro the investors need to present documents proving that the money has legal origin. Sometime, there are needs to verify the legitimate of the documents provided by the applicants. 

Further, verification of employment, salary, income, assets are also important for the review process. To some extents, the investors and their companies are also assessed for reputation and adverse media impact. In some countries, investors need to have documents certifying that they have resided there for a specific period of time at the request of the Government. In Malta, for example, the investor needs to reside here for 12 months before applying. In Bulgaria or Antigua & Barbuda, after being granted citizenship, investors need to reside in these countries for a certain period of time. For the citizenship by investment program in Montenegro, the application will only be accepted when it is submitted through a government-licensed agent under the program.

Read More