Question: We are a multi-national and multi-functional market entity with over 38 years history, and we are committed to basing on the Hongkong, serving the world of business.
Now many of our clients are going to set up companies in Vietnam, therefore we would like to establish long-term cooperation with you and introduce clients to you. Please kindly reply and let me know if you have intention to start our cooperation.
If you are willing to do so, we want to have a basic knowledge before we go. And we would be appreciated if you could provide the following information.
1. What is the registration fees?
2. What is the follow-up service fees, like the maintenance of the second year?
3. What is the whole registration procedure?
Answer: This is reference to your conversation from which we understand that you are interested in our legal services on supporting establishment of foreign invested companies in Vietnam (hereinafter referred as “FICs”).
Then, I would like to present our legal services as follows:
1. Legal service fees for registration of FIC
There are no fixed fees for said services. The fee shall be determined for each case depending on complication of each case.
However, we can confirm that the minimum of said service fees would be 4,000 USD (exclusive of VAT).
2. What is the follow-up service fees, like the maintenance of the second year?
We are now providing some retainer packages of service, which could be very helpfull for FICs in thier long-term operation in Vietnam.
3. What is the whole registration procedure?
There are 02 licenses that foreign investors must obtain to establish FICs in Vietnam:
Step 1: Apply for Investment Registration Certificate (“IRC”)
In this step, investor shall submit dossier to get the approval for foreign investment from management authorities. This dossier may contain these following contents:
– Profile of the investor;
– Total investment capital;
– Business lines;
– Location of investment;
– Explanation on business plan.
The licensing authority shall consider the investment project and capability of investor, refer opinion of other management authorities (if it is required under the laws) then decide to permit or not.
This step may take around 10 to 45 working days (from submition day) to complete.
Step 2: Apply for Enterprise Registration Certificate (“ERC”)
After the approval of investment, investor shall submit another dossier to establish FIC under the ownership of investor.
This step may take around 3 to 5 working days (from submition day) to complete.
From the date of issuance of ERC, the FIC shall operate officially in Vietnam.
