Question: We are considering to establish a new company in Vietnam. The company shall have 1 shareholder (foreign person, not Vietnamese) and this shall be a service providing company (construction services).
The investor would be a legal person (company) and the company is registered in French, a member of the European Union.
Can you please tell me:
- What are the establishing fees of the company in Vietnam (including all necessary licence fees, bank account registrations, requirements for the share capital, etc.)?
- What are the annual maintenance fees of the company (minimal accounting fees, local director fees, etc.);
- How long does it take to establish a company in Vietnam?
- Is the presence of the shareholder in Vietnam during establishment of the company is necessary?
- What is the price for Your services?
Answer: I am Lawyer of SB Law who was entrusted to provide you legal advice for establishing 100% foreign owned company in Vietnam. Please find herewith our answers here under:
1.What are the establishing fees of the company in Vietnam (including all necessary licence fees, bank account registrations, requirements for the share capital, etc.)?
– Government fees for granting Certificate of Investment Registration: Free
– Government fees for Company Registration: 1USD
– Government fees for obtaining Seal Sample: 50 cents
– Fees for opening bank account: Depending on policy of each bank, they may require you to deposit a minimum amount of 100USD upward.
– Share capital: Except for several conditional investment sectors such as real estate business, tourism, MLM, banking etc which requires for minimum capital amount, Vietnam Government does not impose minimum rate of investment capital. In this case, Investor shall be liable to account appropriate amount of capital required for running their proposed business activities in Vietnam.
– Business license tax: From 50USD to 150 USD/year, depending on specific amount of registered investment capital.
2. What are the annual maintenance fees of the company (minimal accounting fees, local director fees, etc.);
– For maintaining operation of the company, you shall have to pay Business License Tax: From 50USD to 150 USD/year, depending on specific amount of registered investment capital.
– Accounting fee: It is optional. Generally, your company can consider hiring an accountant for support. Otherwise, your Company can have a professional accounting company to assist. The fees for accounting works shall very much depend on scale of your business activities, number of transactions as well as amount of your revenue.
– For local director, you can consider hiring a local director in Vietnam. Wage/Salary paid to Local Director shall depend on specific negotiation between two parties.
3.How long does it take to establish a company in Vietnam?
– For a construction company, it shall take you about 01 month from submission of application dossier to the competent authority to complete all.
4.Is the presence of the shareholder in Vietnam during establishment of the company is necessary?
5.What is the price for Your services?
– Our price for setting up a foreign invested company in the field of construction service is 4,230USD. The fee is exclusive of 10% VAT, cost for translating your documents from English into Vietnamese (10USD/150 words), and actual cost for accommodation and traveling if you intend to locate your company outside Hanoi or Ho Chi Minh City.