1. Time frame for incorporation of a foreign invested company in Vietnam shall be about 22 working days to 45 working days. In some case, due to the complexity of the case, the licensing process may be longer. In some case, location of the company may impact the time frame.
2. The company shall conduct business in online advertisement service and e-commerce platform. Thus, the company should be incorporated under the structure of limited liability company or joint stock company out side industrial park or economic trade zone. In Vietnam, generally, industrial park and economic trade zone are for factories or trading.
3. For online advertisement, Client shall be required to joint venture with a company in Vietnam which has been licensed in advertisement services in Vietnam. Foreign ownership in the Joint Venture Company is not restricted.
4. For above services, investor should invest about 200-300,000 USD. Such amount is not minimum capital. However, it shall increase possibility of success of the case. Investor does not need to deposit such amount into bank account before incorporation. However, investor must provide sufficient evidence to prove that he can contribute such amount of money. For example, bank account statement or audited financial statement may be considerable.
5. Virtual Office can be accepted. However, it is not favored by Competent Authority. In case your Client lease Virtual Office, the competent authority shall grant the License with short validity term. Leasing a permanent office shall be the best option.
