Question:
We are an International Logistics Company in Singapore, Our company business covers international freight forwarding, warehousing and cross-border logistics.
Now we are planning to set up a new company in Vietnam, could you give us a quotation about full service for foreigner start a physical operating company?
Answer:
This is reference to your conservation below. I am Lawyer of SB Law. I was entrusted to provide you legal advice regarding to the matter below. Please find our comments here under:
Generally, under Vietnam Law procedure for setting up foreign invested company shall have to undergo two following steps:
- Step 1: Obtaining Investment Registration Certificate.
- Step 2: Obtaining Enterprise Registration Certificate
However, with the corporation of a foreign invested company operated in logistics sector, you may be required comply with some condition especially as follows:
According to Vietnam’s WTO commitments, the foreign investors would like to invest providing logistics services as you mentioned, they shall be required to setup joint venture with Vietnamese Partner in which foreign ownership must not exceed 51%.
However, foreign ownership restriction shall be removed from January 11th, 2014. Thus, with respect to these services, Investor shall not face with difficulties in obtaining Investment Certificate for establishment of joint venture company;
In addition, we still would like to note that, for conducting warehouse service, you must lease a land lot having sufficient space that enable the foreign invested company to provide warehouse services to customer.
At the same time, in order to setup a foreign invested company, you shall also required describe your investment capital, expense, profit etc...Therefor, for provide you accurate fee quotation, please answer us:
- Where will you setup company in Vietnam?
- How much will you invest into Vietnam?
We are looking forward to hearing from you soon.
