Question: Our company would like to set up a Vietnamese company authorized to do foreign trade, customs clearance and receiving foreign currency from abroad.
Kindly let us have your updated fee quotation, including government charges, tax, and any other expected costs, etc.
Answer: We are grateful to present you our Legal Services Proposal for your review and consideration.
1.BRIEF SUMMARY OF BACKGROUND AND OUR COMMENTS
Under Vietnam Law on Investment, for FIC, investors (the “Client”) are required to propose an Investment Project initially to obtain Investment Registration Certificate. The relevant licensing authorities shall evaluate the legitimacy and the feasibility of such Investment Project to determine on granting of the Investment Registration Certificate.
After getting the Investment Registration Certificate for Investment Project, the investor shall apply for the Enterprise Registration Certificate. With respect to trading company, after obtaining Enterprise Registration Certificate, it shall be required to obtain Import and Trading License.
Roadmap for the incorporation of the FIC in this case shall be as follows:
Step 1: Applying for Investment Registration Certificate
- Preparing the application dossier: We shall collect necessary information and documents from the Upon receipt of necessary information and documents from the Client, 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 the Client for comments. Then, after updating the application dossier based on the Client’s comments, we shall obtain the preliminary comments fromthe competent authority and send the finalized application dossiers for the Client to sign and seal. We anticipate that this phase shall be completed within 5 working days.
- Submission of application dossier: Within 02 working days from receipt of duly signed and sealed application dossier, we shall submit the application dossier to the competent It shall take about 15 working days from submission of application dossier to the competent authority for the provincial licensing authority to grant the Investment Registration Certificate.
Step 2: Applying for Enterprise Registration Certificate
- Preparing dossier: Based on the information provided by the Client, we will draft and
provide the application dossier in both Vietnamese and English for the Client’s comment. Then, after updating the application dossier based on the Client’s comments, we shall obtain the preliminary comments from the competent authority and send the finalized application dossiers for the Client to sign and seal. We anticipate that this phase shall be completed within 03 working days
- Submission of application dossier: Within 01 working day from receipt of duly signed and sealed application dossier and after getting the Investment Registration Certificate, we shall submit the application dossier to the competent authority. It shall take about 07 working days from submission of application dossier to the competent authority for the provincial licensing authority to grant the Enterprise
Within 2 working days we shall complete the post licensing procedures such as publishing the establishment information of company in National Registration Portal, obtaining seal for the FIC.
Step 3: Applying Business License
- Submission of application dossier: Within 01 working day from receipt of duly signed and sealed application dossier and after getting the Certificate of Enterprise Registration, we shall submit the application dossier to the competent authority. It shall take about 45 working days from submission of application dossier to the competent authority for the licensing authority to grant the Business
2. SCOPE OF WORKS
With regards to the establishment of FIC for export of different kinds of consumer products (clothes, shoes, home appliances, furniture etc.), our scope of work shall be as follows:
| SCOPE OF SERVICES |
| Preparation of the application documents:
·Notifying application documents required in accordance with Vietnamese law; ·Drafting application documents required for submission purpose; ·Liaising with the Client to discuss the draft application documents; · Amending the application documents based on the Client’s comments; ·Obtaining preliminary comments from the licensing authority on the draft application documents; ·Finalizing the application documents following comments from the licensing authority; and ·Translating the final version of the application documents into Vietnamese for execution. |
| Licensing procedures:
· Submitting the application dossier to the licensing authority on behalf of the client; · Monitoring and following up with the relevant authorities on the approval process; ·Keeping the client updated on the developments and additional requirements, if any; and · Assisting the Client in obtaining the Investment Registration Certificate; Business Registration Certificate; Business Licnese. · Obtaining the seal of the FIC and implementing the procedures to declare the seal of FIC; · Publishing the information of FIC in National Registration Portal |
3.PROFESSIONAL FEE
The fee for SB Law to perform services as mentioned in 2 above will be as follows:
- For obtaining Investment Registration Certificate: 2,350USD (Two thousand three hundred and fifty US Dollar);
- For obtaining Enterprise Registration Certificate: 550USD (Five hundred and fifty US Dollar);
- For obtaining Business License: 2,560USD (Two thousand five hundred and fifty US Dollar);
- The fee is exclusive of VAT (10%) and actual cost for translating your documents from English into Vietnamese (10USD/150 words) and actual cost for travelling out of Hanoi or Ho Chi Minh
- SB Law keeps right to re-quote our service fee in case Client would like to setup retailed sale outlet for trading beer
