Question:  I would like to enquire about establishing a 100% foreign invested company in Vietnam (Nha Trang).

The nature of business would be to establish a Cafe business. I wish to start with one Cafe and from there-on gradually expand by personally investing and by attracting franchisees. As first location I am interested in Nha Trang.

For such I would like to get information and an indication of costs for the following:

– Incorporation and Bank account setup
– 1 or 2 share-holders (either just me or me and my vietnamese partner)
– Business Licenses for a Cafe
– Work permit for me and my wife
– Residence permit
– Registered address, company secretary and accounting services
– Future additional license to establish branches and a franchising business

Is there an age limit to establish a company and get a work permit. Presently I have a company in China, but as I will turn 60 later this year it may be that I can no longer extend my work-permit due to China’s new 60-year age limit policy. Hence, I like to move to Vietnam for the next 10 to 15 years…

Answer:  I would like to confirm your require, at present, you want to set up a foreign invested company with two members for cafe business.

In accordance with Vietnam Laws, after completing procedure for setting up company in Hanoi, you can open bank account in the any bank of Nha Trang.

In addition, in case you work in Vietnam as a founder of company and/or share-holder of company, you are not required to obtain work permit.

During operation process, in order to management for operation of company you can recruit employees as the company secretary and hire accounting services.  At the same time, you can also open branches in Saigon or other city of Vietnam.


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