Investor: Interest in your service of company formation for 100% foreign owned.
We are a Hongkong registered company and would like to extend our present in Vietnam and would like to understand the regulatory structure & process to set up
A 100% foreign owned company in Vietnam
1. 100% foreign owned
2. Branch or subsidiary
3. Can it be a sole shareholder limited liability company
4. What is the minimum paid up capital
5. Can I use a virtual office address to register the company
6. Do the director required to hold resident status
7. Tea import license
Lawyer: According to my experience, at presence, price for shared office in Vietnam is about 450 USD/one month.
Vietnam Law accepts that a single shareholder can register the Company in Vietnam.
Such shareholder does not need to reside in Vietnam. In this case, as the wholesale, import and export is considered as conditional investment sector, the shareholder should be your Company in Singapore.
By the way, we also would like to note that under Vietnam Law, the company must register one person who shall act as Legal Representative of the Company.
Hongkong Companies generally appointed the General Manager as the Legal Representative of the Company in Vietnam.
This person can be a Foreigner but he must reside in Vietnam. At the time of company registration, he does not need to reside in Vietnam.
However, after the establishment of the Company in Vietnam, he must obtain Residence Permit or register his temporary resident address in Vietnam with the Competent authority.
He must authorize in writing another person to be the legal representative of the Company in case of his absence from Vietnam for 30 days or more.
