Question: Our company is seeking legal advices for establishment of a company with 100% foreign invested capital operating in the catering services field in Hanoi.
Please quote and advise.
Answer: We understand that you are now seeking legal advices for establishment of a company with 100% foreign invested capital operating in the catering services field 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, WORK CONTENT AND PERFORMING TIME
1.1. 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 field of catering services, Client shall have to undergo 02 (two) steps as below:
i. Step 1: To obtain Investment Registration Certificate
ii. Step 2: To obtain Business Registration Certificate
– In addition, after completing the company establishment procedures, upon opening a restaurant for catering business, Client is required to obtain a Certificate of food
– Documents which the foreign investor shall be prepare to carry out foreign invested company establishment procedures:
i. For foreign investors being individuals, the Client should prepare the following documents: (i) Certified copy of the passport; (ii) Documents proving the investor’s financial capacity; (iii) Lease
ii. For foreign investor being enterprises, the Client should prepare the following documents: (i) Certificate of establishment of the company; (ii) the charter of the company; (iii) company’s profiles; (iv) documents proving the financial capacity of the investor; (v) Lease contract
1.2. 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 05 working days.
b. Licensing Procedure:
(i). 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 20 working days from submission of required application dossier to relevant competent authority for obtaining the Investment Registration
(ii). 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
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 Portal.
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.
2. SCOPE OF WORK
We propose our scope of work in this case as follows:
|Description of work|
|Preparation of the application documents:
After granting Investment Registration Certificate and Business Registration Certificate, we shall support to Client conducting post-licensing procedures including: (i) announcement of business registration content; and (ii) making seal and publication of seal sample on National Business Registration Portal.
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: 3,500 USD (Three thousand five hundred US Dollars), which is equivalent to 79.800.000 VND (Seventy nine 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 228.000 VND per 150 words) and actual cost for traveling (if any)