Question:
We are international renewable energy development company. We are starting our activities in Vietnam, we want to create 5 comapanies, all shares would be owned by USA company. What would be needed to do it? and price?
Answer: I am Lawyer of SB Law. I was entrusted to provide you legal advice regarding to your inquiry below.
We noted that your company is a renewable energy development company. You are now considering expansion of your business activities in Vietnam through setting up four companies which are wholly owned by USA Company.
At presence, renewable energy is specially supported by Vietnam Government. According to our information, up to now, there are about 40 renewable energy projects granted in-principal approvals from the government.
Unfortunately, none of them has been started in the practice due to different reasons. Then, your plan of incorporating 4 companies in Vietnam for renewable energy development made an impression to us. However, before officially going to further steps, kindly share us your information on following issues:
- Will you setup power plant in Vietnam?
- If yes:
+ What kind of power plant? For example, solar power or wind power or hydropower plant. Please note that, Vietnam Government shall no longer grant license for new hydropower plant for reason of environment protection.
+ What is the scope of such power plant?
* Please note that in Vietnam, power plant shall be required to sell power to EVN.
If no: Please describe what is your business activities in Vietnam.
- Where will you carry out your business activities in Vietnam? For example, Ho Chi Minh City, Hanoi, Da Nang, Ninh Thuan or Ca Mau? Please note that, Vietnam Government has general master plan for economic and social development. Then, your proposed business activities must be compliant with such master plan.
- How much will you invest into each company in Vietnam?
