The speed of availability of a shelf company is the crucial factor contributing to so many other benefits. Here we will elaborate further on why you should choose a shelf company in Vietnam over setting up a new company:
» The company registration process timeline for a new company in Vietnam is much longer than purchasing a shelf company
» Since the company is brand new, it will take the business months, or even years to build a strong network and credibility.
» A lot more steps are involved in the incorporation process of a new company compared to purchasing a shelf company. These additional time-consuming steps are license application, bank account opening, and other paperwork.
» A brand-new company may have trouble gaining access to credit and bank approval since the business is lacking history.
» A new company may be forbidden to perform certain business activities until the company has obtained relevant business and operational licenses. Also, these licenses require significant time for their application, submission, and approval.