Question:
I need help setting up a company in Vietnam to receive and distribute vitamins, minerals, and supplements.
I have the capital required to set one up but I am a very small investor looking to start somewhere. I hear a lot of demands for EU made products but I don't have the resources to see if it would be profitable. If you can help me out with this, I'd gladly work with you.
Answer:
- In case, your vitamins and minerals products are classified to pharmaceutical products, foreign investors is not allowed to involve with distribution of pharmaceutical products in Vietnam. Then, you must setup a nominee company in Vietnam in order to distribute pharmaceutical products.
- If your vitamins and minerals products are classified to supplemental food, your foreign invested company in Vietnam can distribute such products in Vietnam.
Classification of products into pharmaceutical product or supplemental food shall very much depend on (i) ingredients of product; (ii) use of product (for example, food supplement must be used through oral administration); (iii) Certificate of Free Sale of Product in original country. Then, you should be very careful with this.
