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Buying 49% share of an established business in Ha Giang.

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Aaron32

Hi all,

This has probably been asked before and feel free to point me in the right direction for info.

I am interested in buying a 49% share in an established hostel in Ha Giang. The business is currently owned by two vietnamese/Ha Giang locals (49% and 51% respectively). The person with a 49% share wants to sell and I am interested in buying as a foreigner and relocating to vietnam to manage the hostel. The hostel IMO has big potential that has not been realised by the current owner/s.

I have heard different stories about the tax on foreign investment but is this the case if you hold the minority share, 49%, of the business?Any other issues i should expect?

I am planning to use the services of a local lawyer from Ha GIang to understand the local business law interpretations.

I have vast experience in project management and hostel/business management in Australia but not in Vietnam. I am familiar with vietnam through various business/holiday visits.

Thankyou for your responses. Any info is appreciated.

Aaron

Bazza139

.
          Aghast.   Yet another one...     :o   

         "I have heard different stories..."       :blink: 

     ..obviously not nearly enough...   (sigh...)

    Dammit!   Where is Yogi when you need him..?  Someone shout 'SCAM'

    'One born every minute'..?    ..is a very old saying, so I guess it is more
  like a millisecond these days...    But where do I begin..?

    Firstly, my Apologies for (trying to) help you avoid the (inevitable) pain,
  but you are at least smart enough to ask correct questions

    Secondly; research.   Expats are not experts, but your story is no mystery
  mainly because it is the base ALL S.E. Asia is built on: Foreign Fools

    I actually (try to) avoid plugging Neil Hutchinson's 'Money Number One'
  and associated books (banned in Thailand and Philippines for the damage
  done to the tourist trade) but the stories have been replicated unto infinity
  since time began.   WOFTAM means 'Waste Of Time And Money', yet we
  still see so many people hoping they can do it differently...

    Self-evident truths have no meaning for you?    I researched my move
  two years before arriving, yet my mindset was changed forever in the first
  few days my boots hit the ground, so (please?) at least let a few others
  bend your ears before you throw your money into the black hole here

     (Don't) trust me.  Read the countless stories of those wise Westerners
  who thought they understood local Viet Nam minds; be amazed, but
  what would I know after 6 years of (still) researching ecotourism here?

      Research or repeat History.   Doomed to repeat his story..?

      Choice, not chance decides destiny
.

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