Question: We are evaluating a potential project to open a new market for us which shall be Vietnam. With that we would need quite a few services to register our local legal entity and then to register our pharmaceutical products. Therefore, could you please send us the list of the documents we would need to register a legal entity in Vietnam. What is the timeline and the costs? Please consider that the entity shall be engaged in all kinds of pharmaceutical industry activities.
I am Lawyer of SB Law. I was entrusted to provide you legal advice regarding to the following issue.
Under Vietnam Law, in order to register pharmaceutical products, you shall have two following options:
+ Option 1: To setup a Representative Office in Vietnam. However, please note that, Representative Office in Vietnam is not allowed to carry out business activities for the purpose of profit making. It can act as contact point of Parent Company in Vietnam or carry out trade promotion or market research only.
+ Option 2: To setup a Foreign Invested Company in Vietnam. Please note that, foreign invested company in Vietnam is not allowed to join distribution of pharmaceutical products. Then, if you set up a Foreign Invested Company in Vietnam, you must consider setting up a factory in Vietnam for manufacturing pharmaceutical products.
Please study and let us know which option you will adopt. By the way, please also notice us which cities/provinces you would like to setup Representative Office or Company. Then, we shall assign your case to right team to take care.