Question: Our company would like to establish a company producing and processing industrial equipment with 50% Japan invested capital in Hanoi.
Answer:
We understand that you are now seeking legal advices for establishment of a company producing and processing industrial equipment with 50% Japan invested capital in Hanoi (hereinafter referred to as “Client”). We are, therefore, grateful to present you hereunder our Legal Services Proposal for your review and consideration.
1. PRELIMINARY ADVICE
According to the guidelines of Law on Investment 2014 and Law on Enterprises 2014, in order to establishment of foreign invested company operating in the production sector, Clien shall have to undergo 02 (two) steps as below:
- Step 1: To obtain Investment Registration Certificate
- Step 2: To obtain Business Registration Certificate
2. WORK CONTENT AND PERFORMING TIME
Based on the Client’s requirement, we plan performing work under schedule and time as follows:
a, Preparing the application dossier: We shall collect necessary information and documents from Client. Upon receipt of necessary information and documents from you, we shall translate documents from English into Vietnamese and prepare the application dossier under the standard forms. The initial drafted application dossier shall be sent to you for your comments. Then, after updating the application dossier based on your comments, we shall obtain the preliminary comments from the competent authority and send the finalized application dossiers for you to sign and We anticipate that this phase shall be completed within 10 working days.
b. Licensing Procedure:
- Within 02 working days from receipt of duly signed and sealed application dossier, we shall submit the application dossier to relevant competent authority for obtaining an Investment Registration Certificate. It shall take about 15 working days from submission of required application dossier to relevant competent authority for obtaining the Investment Registration
- Within 02 working days from obtaining the Investment Registration Certificate of Client, we shall submit the application dossier for the registration of your
Company to the Business Registration Division in order to be granted a Corporate Registration Certificate. It shall take 07 working days from submission of required application dossier to the Business Registration Division for completing this work.
c. Post licensing procedures: Within 05 working days, we shall complete the post licensing procedures such as announcement on enterprise registration, obtaining new seal sample and announcement on the seal sample of Client’s company on National Business Registration
For avoidance of any doubt, in practice, the administrative procedures may take longer than expected since the competent authority must consult relevant ministries before granting the Investment Registration Certificate and the Corporate Registration Certificate. In such a case, SB Law shall try our best to accelerate the progress in order to obtain the approvals at the earliest as possible.
3. SCOPE OF WORK
We propose our scope of work in this case as follows:
| Description of work |
| Preparation of the application documents:
· Notifying application documents required in accordance with Vietnamese laws; · Drafting application documents required for submission purpose; · Liaising with Client to discuss the draft application documents; · Amending the application documents based on Client’s comments; · Obtaining preliminary comments from the licensing authority on the draft application documents; · Finalizing the application documents following comments from the licensing authority; and · Translating the final version of the application documents into Vietnamese for execution. |
| Licensing procedures:
· Submitting the application dossier to the licensing authority on Client’s behalf; · Monitoring and following up with the relevant authorities on the approval process; · Keeping your company updated on the developments and additional requirements, if any; and · Assisting Client in obtaining the Investment Registration Certificate and the Corporate Registration Certificate. |
| Post-licensing procedures:
After issuance of Investment Registration Certificate and Business Registration Certificate, we shall support Client to conduct post-licensing procedures including: (i) announcement of business registration content; and (ii) making seal and publication of seal sample on National Business Registration Portal. |
| Note: For the company operation in the production sector which factory is located outside industrial zone, Client need to note that the location of the factory shall be in compliance with the planning and law regulations regarding the environment safety. |
3. PROFESSIONAL FEE
Professional Fee for performing SB Law’s services as mentioned in Section 2 above will be as follows:
- For obtaining the Investment Registration Certificate and the Corporate Registration Certificate: 4,000 USD (Four thousand US Dollars), which is equivalent to 800.000VND (Ninety million eight hundred thousand Vietnamese Dong).
- The above service fee is exclusive of 10% VAT, bank charge and cost for translation of documents from English into Vietnamese (10 USD per 150 words, which is equivalent to 227.000 VND per 150 words) and actual cost for traveling (if any).
