Investor: Respected Sir/Madam, I am a Hongkong citizen. I am looking to set up business under Sole Proprietorship with 100% own share in the field of restaurant.
Can I do this type of business in Vietnam and what will be the capital requirements?
Thanks and best regards.
Lawyer of SBLAW:Under Vietnam Law, for making investment in restaurant services, before the year of 2015, the services provided must be in parallel with investment in hotel construction, renovation, restoration or acquisition.
Thus, at presence, if your business plan is not involved with hotel construction, renovation, restoration or acquisition, it is impossible for you to setup restaurant in Vietnam.
Furthermore, with less than 50,000USD, you may face with difficulties in obtaining license from the competent authority.
Generally, in Ho Chi Minh City or Hanoi, in order to setup and run a restaurant, you shall need to invest at least 150,000USD upward.
