Client: My name is Harry and I received your contact details through internet. I’m looking for a lawyer who could assist me and a partner (we’re both expats) in registering our online startup.
1. What is the process to apply for the business license? If we make it Vietnamese-owned with a “sleeping” Vietnamese partner, what will be the implications for us real owners?
2. How long does it take to process the business license? Can your office help us in making all the necessary paper work?
Could you also give us a rate for your fees in making the business registration and license?
I hope to hear from you soon. We are happy to meet in person to discuss in detail.
Lawyer:This is reference to your email below. I am Corporate Lawyer of SB Law.
Regarding to your question, we would like to comment as follows:
1.In case you register the company under the name of a Vietnamese Citizen, it shall take you about 10 working days from submission of application dossier to obtain Certificate of Business Registration and Seal Sample.
However, we also would like to note that Vietnam Law does not officially recognize nominee structure. Thus, with this option, in theory, you shall have no right against such company.
We can also assist you to prepare contracts and agreements between you and Vietnamese Partner. However, it can not guarantee 100% your safety if there is any dispute between you. It can only manage the risk of loosing your invested money into such company.
2. As mentioned above, it shall take you about 10 working days from submission of application dossier to obtain Certificate of Business Registration and Seal Sample. If you select us to support you, we can prepare all necessary paper work for you.
3. Our fee for setting up 100% local company shall be 10,000,000VND . The documents shall be prepared in Vietnamese. However, if you need us to prepare documents both in Vietnamese and English, the fee shall be 20,000,000VND (The fee is exclusive of 10% VAT).
For preparing necessary agreements between you and the Vietnamese Partner, our fee shall be 22,000,000 VND. The fee is exclusive of 10% VAT.
