Under Vietnam Law, foreign investor is allowed to setup the Foreign Invested Company (FIC) in Vietnam for conducting business activities for profit making purpose.
FIC in Vietnam can be incorporated under the form of Joint Stock Company or Limited Liability Company.
If investors own 100% equity of the company in Vietnam, they can setup a Limited Liability Company with one Member.
For setting up FIC, investors must obtain the Investment Certificate from the competent authority.
Investment Certificate shall be deemed as Business License of the FIC.
Procedure for obtaining Investment Certificate for FIC shall very much depend on business activities of the FIC.
For example, with respect to import and export activity, Vietnam Law does not impose any restriction. However, during the licensing process, the competent authority in Vietnam, generally prefer Foreign Investors being company who has experience in the same field before.
Vietnam Law also does not require for minimum capital to conduct business activities in this field. It does mean that investors can invest only 01 USD to setup the FIC.
However, the matter is that the Investors must provide explanation on the feasibility of its business plan in Vietnam.
According to our experience, in Hanoi or Ho Chi Minh City, investors shall need about 100,000USD to import and export three kind of goods.
If they wish to import and export four or more kinds of goods, you must consider increasing the investment capital into 150,000USD.
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