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Vietnam accounting for French companies

Specialist accounting, tax, payroll, transfer pricing, and audit support for French-headquartered companies operating in Vietnam. PCG-to-VAS reconciliation, EUR reporting, and treaty-rate withholding.

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Overview

French companies entering Vietnam typically establish a 100%-foreign-owned subsidiary with a sales, manufacturing, or representative office presence. We deliver monthly bookkeeping in VAS, French-style management accounts (PCG-equivalent), EUR reporting, transfer-pricing documentation aligned with both the French tax authorities (DGFIP) and Vietnamese GDT, and EUR-functional statutory financials. Our team prepares monthly VAS bookkeeping, PCG-aligned management accounts, EUR reporting, transfer pricing under Decree 132/2020, and treaty-rate withholding claims under the France-Vietnam DTA.

Who needs this service

  • CAC-40 and SBF-120 multinationals with Vietnam operations
  • French luxury, retail, and consumer goods companies entering Vietnam
  • French industrial groups with manufacturing in Vietnam
  • French companies with regional APAC headquarters in Vietnam
  • French holding structures with Vietnamese portfolio companies

Legal requirements

IRC + ERC licensing

Foreign company setup requires an IRC and ERC from the DPI. French parent documents must be apostilled and translated.

VAS accounting

All entities must maintain books under VAS, with annual financial statements in Vietnamese and an English (or French) translation for group reporting.

Statutory audit

All FDI companies must be audited by a Vietnamese-licensed audit firm. The audit is coordinated with the French parent's comptes consolidés.

PCG reconciliation

French parents require a reconciliation from VAS to PCG (Plan Comptable Général) for the comptes consolidés. Differences in provisions, leases, and depreciation are reconciled quarterly.

Transfer pricing documentation

Local File, Master File, and CbCR under Decree 132/2020, aligned with DGFIP expectations and OECD BEPS.

Pricing

Indicative fees

ItemFee
French company monthly retainer (full compliance)from EUR 1,500 / month
Foreign company setup (IRC + ERC)from EUR 8,000
PCG reconciliation (per period)from EUR 2,000
Transfer pricing Local File (EUR-aligned)EUR 5,000 – 12,000
Intégration fiscale supportfrom EUR 4,000

Fees are indicative and depend on transaction volume, complexity, and reporting requirements. Request a tailored proposal.

Timeline

Typical engagement timeline

Phase 1 · Week 1–2

Pre-engagement

Initial scoping with French parent, entity structuring advice, IRC pre-engagement.

Phase 2 · Week 3–8

Setup

IRC + ERC issuance, post-licence registrations, tax agent appointment.

Phase 3 · Month 3–6

First compliance cycle

First month close, first VAT filing, French parent reporting integration.

Phase 4 · From month 7

Steady state

Monthly close within 10 working days, PCG reconciliation, quarterly review.

Watch out

Common mistakes we help you avoid

  • 01Failing to coordinate the comptes consolidés timeline with the Vietnam year-end close
  • 02Missing documentation for the French participation exemption (régime mère-fille)
  • 03Treating French parent overhead allocations as fully deductible without benefit-test
  • 04Failing to claim France-Vietnam DTA treaty rates on dividends and royalties
  • 05Ignoring the French permanent establishment implications for French staff on Vietnam assignment
Why us

What you get

PCG-to-VAS reconciliation

Quarterly reconciliation package prepared in EUR, aligned with the French parent's comptes consolidés calendar.

EUR-functional reporting

EUR-functional ledger for management reporting, with FX gain/loss reconciled to the parent's reporting framework.

DTA treaty relief

French-Vietnam DTA reduces withholding on dividends to 0% (qualifying parent), on interest to 10%, on royalties to 10%. We claim the reliefs on your behalf.

Régime mère-fille support

Documentation support for the French participation exemption regime, including substance and holding-period requirements.

Big-4 + ETI expertise

We have supported both CAC-40 multinationals and French SMEs with their Vietnam entities.

French-speaking team

French-speaking senior advisors available for board, parent, and DGFIP liaison as required.

FAQ

Frequently asked questions

What is the typical Vietnam setup for a US company?
US companies typically set up a sales subsidiary or a regional engineering centre. The subsidiary is 100%-foreign-owned. US companies often have a regional CFO overseeing multiple Asian entities, and the Vietnam entity reports into that structure.
How is the US-Vietnam tax treaty applied?
Vietnam and the US do not have a comprehensive tax treaty. The standard Vietnamese rates apply: 0% withholding on dividends to a US corporate parent (under Vietnamese domestic law), 5% FCT on royalties, 10% on interest. The absence of a treaty makes structure and substance critical.
How is FCPA and anti-bribery compliance handled in Vietnam?
Vietnam has anti-bribery laws and accounting-record-keeping requirements that align broadly with FCPA expectations. We help clients maintain adequate books and records, document third-party engagements, and provide training.
What reporting does a US parent expect for SOX compliance?
US parents subject to SOX expect: documented internal controls, audit-trail evidence, segregation-of-duties review, IT general controls review, and management certifications. We provide the working papers and controls evidence to support the parent's SOX audit.
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