Question: I would like some advice about incorporating a business related to English language teaching.
Although the business is largely online, it will also be operating in Vietnam, which is where both directors (UK and USA) currently live.
I need your help in knowing where to incorporate e.g. in Singapore, the UK etc, and how to set up a subsidiary in Vietnam.
Answer: I am Lawyer of SB Law. I was entrusted to provide you legal advice regarding to incorporate a business related to English language teaching in Viet Nam.
Please find our comments here under:
Under Vietnam Law, foreign investors may directly invest in establishing English training institutions in the following forms:
- 100% foreign-capitalized English training institutions;
- Associated educational institutions between domestic investors and foreign investors.
Forms of foreign-capitalized English training institutions is permitted establishment in Vietnam:
- Short-term training institutions.
- Preschool education institution following foreign educational programs for foreign children.
- Compulsory education institutions (elementary schools, middle schools, high schools, and mixed compulsory education institution) following foreign educational programs, issuing foreign qualifications, for foreign students and part of Vietnamese students.
- Vocational education institution.
- Higher education institution.
Procedure of incorporation foreign-capitalized English training institution shall have to undergo steps as belows:
- Step 1: Obtaining Investment Registration Certificate.
- Step 2: Obtaining Decision on approving the establishment of the English training centre.
- Step 3: Obtaining Decision on approving the operationof the English training centre.