Question: We are the Manufature and importers exporters from India. Now we are Spread our business in Vietnam .we have overseas office in ,Azerbaijan,Romania,Bulgaria,Poland and Georgia. so we are Interested to open a new office in Vietnam. Please tell me what requirements and how much your service charge open a new company and office in Vietnam. Answer as soon as possible.
A: I am Corporate Lawyer of SB Law. I was entrusted to provide you legal advice regarding to establishment of the company/office in Vietnam.
Under Vietnam Law, you can either consider establishing one of two following forms:
– A representative office: Representative office in Vietnam shall act as contacting office of the parent company in Vietnam and shall be responsible for market research and investment promotion. Representative Office is not allowed to carry out any business activity for direct profit making purpose. We also would like to note that for setting up a representative office in Vietnam, your parent company must have at least 01 year experience operating in the field and you must provide an audited financial statement of the company for the latest year or confirmation of tax authority that the company has no tax debt. It shall take you about 15 working days from submission of application dossier to the competent authority for obtaining license for establishment of representative office in Vietnam.
– A Company: A Company in Vietnam shall carry out business activities for profit making purpose. Depending on registered business activities of the company, you might be required to satisfy specific conditions. For example, if you carry out business activities on real estate business, you must invest at least 1,000,000 USD as paid up capital.
In this case, we understand that you shall engage with import and export activity. Please correct us if we were wrong. For import and export business activity, we shall need you to provide us what kind of goods that you intend to import or export. For example, import tea, pepper or ginger etc. Based on your list of goods, we shall advise you in detail suitable capital fund and possibility of the case.
I hope that the above information is helpful for you. If you have any further inquiry, please feel free to contact us.