Question: I currently have a business partner based on Vietnam (USA citizen, not from Vietnam) who has been living in Vietnam on and off for the past 4 years or so.
Due to our industry experience in the hospitality sector we are exploring the opportunity of opening a licensed restaurant and bar (same premises) in HCM City.
We would like to know the procedures and processes for the most convenient way for us to acquire the necessary permits and licenses to legally do this.
I look forward to hearing back from you
Answer: This is reference to your email below. I am Lawyer of SB Law. I was entrusted to provide you legal advice regarding to the matter below.
Hospitality is classified as conditional investment sector in Vietnam. Right now, this field is very competitive in both of Hanoi and Ho Chi Minh City.
For obtaining business license for running business in this field in Hanoi, you shall have following option:
Setting up a Foreign Invested Company for running restaurant and bar in Hanoi. For this option, you shall be required to obtain an Investment Certificate and a Certificate of Business Registration in Vietnam. According to our practical experience in previous case, if you select this option, you should invest at least 500,000USD (Hanoi or Ho Chi Minh City does not much favor small individual investors). It shall take you about 45 working days to complete the licensing process.
Our fee shall be around 8,500USD. The fee is exclusive of VAT (10%) and actual cost for translating your documents from English into Vietnamese (10USD/150 words).
We do hope that the above information is helpful for you. If you have any further inquiry, please feel free to contact us.
If you would like further information on Setting up business in HCM City., please either email to our Partners at: info@sblaw.vn or call to our Office:
- Ha Noi Office: +84 (4) 62 62 0246
- HCM Office: +84 (8) 35 208 101.
