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

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

8 Simple Yet Brilliant Ways for Saving Money Around Your Office

Starting a business in this day and age is very challenging, including saving money. so there are 8 Simple Yet Brilliant Ways for Saving Money Around Your Office.

Do Not Settle for Saving Money for Your Office

Everything is negotiable. To find the true value of something, you would like to be extremely persistent. My suggestion is not to settle for an initial price. You should start with your landlord; the thing is that you’re in that office to stay, and that kind of long-term contract should come with a discount.
In this situation, you need to be able to find your leverage, and you mustn’t take no for an answer. Negotiate with your suppliers, find common ground with your partners and be perfectly honest with your clients. Money is a strong motivating factor nowadays, and it affects the quality of the work that needs to be delivered. It’s as simple as that.
For this to figure out, you would like to adopt or additionally develop certain people skills. Getting conversant in the business visual communication should be your base, and you ought to climb up from there by simply lecture people and expanding your knowledge of human behavior with practice.

Move to Online Advertising

It’s the cheapest and the most efficient way of advertising, and it’s quite silly for a small business to pay ridiculous prices to have their ad air on national TV, for example.
It’s not where your target audience is, and it’s not what you need. Instead of wasting your resources, you should work on your online presence and move on to social platforms, where you can find exactly who you’re looking for and more importantly, they can find you.

Software Instead of People Saving Money for Your Office

This is the time to create and search for smart tools that will save you time, energy, and money. I know this “Software instead of People” subheading sounds a bit cruel, but you can’t argue with the fact it’s a smart business move.

Cut Down on Supplies

Most businesses make the same mistake of ordering a recommended quantity of office supplies that usually end up being lost, stolen, or forgotten in a desk drawer.

Saving Money for Your Office is Grow With Your Employees

Experienced employees are often underpaid in a small office. When that happens, their performance decreases significantly because their knowledge isn’t fully appreciated in your conditions.
That’s not the only reason why you shouldn’t put experience on the top of your list when looking for employees. It’s also overrated. There are many smart people out there who are jobless, who learn fast, and who have a lot of energy to contribute. The best thing is that you can grow together. You as a business and they as professionals.
There’s one other way to get help and not drain your funds while doing it. Get interns. It’s quite an obvious solution and a win-win situation. Your interns will get a closer picture of how working in the real world is, and you can outsource the simpler part of your overall work to them so that you can focus on more important things.

Protect Your Interests

Not only does one got to build your empire, but you furthermore may got to protect what you’ve got created thus far . Small investments like installing security cameras, get a smartphone insurance plan, and insisting on having a contract for everything you are doing and everybody you are doing it with might not seem like an important thing to do at a given moment.
However, protecting your property, your secrets and binding your employees and partners legally is nothing quite doing smart business.

Go Green and Recycle

Other than being a PR move a really wide audience responds to, going green and devoting a small amount of your time to a simple matter such as recycling, is a responsible and a really adult thing to try to do. Besides, recycling outdated pieces of technology and office supplies will hamper your overall expenses significantly.

Keep Your Expenses in Line

If your area of expertise, and your business for that matter, are nowhere close to accounting, my sincere advice is to outsource this task to experts. Face it, it will cost you a lot less than financial failure, and it’s better not to mess with money if you’re not properly trained to handle it.
None of these things are mind-blowing hacks about saving money, but that’s exactly the point. There are none. Instead of rushing into growth hacking and finding shortcuts directly, you ought to try creating a reasonably stable business environment and climb your high from there.

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/8-simple-yet-brilliant-ways-for-saving-money-around-your-office

Read Vietnam Economy Weekly News