Question: I am a USA guy thinking of opening a business in Vietnam. A dairy food processing manufactory to be exact. Sold to local market and for export to Asian countries.
Can I get a work permit? Unfortunately I don’t have a university bachelor degree or 12 months of management experience.
I read in your guide that sometimes the minimum capital required would be as much as 400-500k usd. Are there lower requirements in different provinces/cities?
I have no criminal record and no health issues.
Answer: I am SBLAW’s lawyer and I was entrusted to provide you legal advice regarding to the matter below.
Under Vietnam Law, if you are granted Investment Certificate for setting up a Foreign Invested Company, you are not required to obtain a Work Permit. Then, in such case, you do not need worry much about the fact that you do not have university diploma nor 12 years experience.
Regarding to the capital for running a dairy food processing manufacture, the capital matter shall be a big question if you intend to setup a foreign invested company in Vietnam. In fact, Vietnam Law does not impose the minimum capital amount for setting up Foreign Invested for dairy food processing. However, you shall be required to provide an estimate of sufficient capital amount for running such manufacture. For example, you shall need to invest about 200,000 US Dollar in order to make a net income 50,000 US Dollar/per year. In case you invest a low number of investment capital, you could not expect for a huge number of net income. Then, your plan shall have no attractive points and it shall be at high risk of refusal. This principal is applicable in all province and cities in Vietnam.
So, we shall start first with the question, how much will you intend to invest into Vietnam. Then, we shall advise you which business activities shall be reasonable for you or which city/province shall be suitable for your plan.
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 Vietnam dairy processing manufactury, 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.
