Question: We are planning to set up a pharmaceutical trading company in Vietnam.
Our CEO and founder is an USA citizen and wants to operate the company mainly from his home place.
Is it possible to set up a trading company for pharmaceuticals in Vietnam?
What kind of requirements are needed to full fill? We would need a pharmaceutical license.
Please let me know, what kind of services you could offer us.
Looking forward to hear from you.
Answer: As your request, we would like to advise as follow:
I am Lawyer of SB Law. I was entrusted to provide you legal advice on following issue.
Under current Vietnam Law, it is impossible to setup a foreign owned company trading pharmaceutical products.
If you still insist on this, you shall have to consider appointing a local person to act as nominee shareholder.
Please note that nominee structure is not officially recognized in Vietnam.
Then, this structure is risky and you shall have to rely on your nominee shareholder.