Establishment of a real estate company with 100% foreign invested capital

0
203

Question: We are Hongkong investor and would like to establish a real estate company with 100% foreign invested capital in Vietnam.

Please advise this?

Answer: This is reference to your email from which, we understand that you are now seeking legal advices for establishment of a real estate company with 100% foreign invested capital in Vietnam (hereinafter referred to asClient”).

We are, therefore, grateful to present you hereunder our Legal Services Proposal for your review and consideration.

1. PRELIMINARY COMMENTS

According to the guidelines of Law on Investment 2014 and Law on Enterprises 2014, Client first needs to submit the dossier to apply for an Investment Registration Certificate. The time schedule to carry out this procedure shall be 30 working days from submission of required application dossier to relevant competent authority.

After having been granted the Investment Registration Certificate, Client shall carry out the procedure to apply for a Corporate Registration Certificate of the Company to be established in Vietnam. The time schedule to carry out this procedure shall be 07 working days from submission of required application dossier to relevant competent authority.

1.1.   Licensing Process:

The roadmap for above said scope of work can be described in following steps:

Preparing the application dossier: We shall collect necessary information and documents from Client. Upon receipt of necessary information and documents from you, we shall translate documents from English into Vietnamese and prepare the application dossier under the standard forms. The initial drafted application dossier shall be sent to you for your comments. Then, after updating the application dossier based on your comments, we shall obtain the preliminary comments from the competent authority and send the finalized application dossiers for you to sign and seal. We anticipate that this phase shall be completed within 07 working days.

1.2.Licensing Procedure:

Within 02 working days from receipt of duly signed and sealed application dossier, we shall submit the application dossier to Department of Planning and Investment in the Province where the Client’s Company is located, for obtaining an Investment Registration Certificate. It shall take 30 working days from submission of required application dossier to Provincial Department of Planning and Investment for obtaining the Investment Registration Certificate.

Within 02 working days from obtaining the Investment Registration Certificate of Client, we shall submit the application dossier for the registration of your Company to the Business Registration Division at the same Provincial Department of Planning and Investment in order to be granted a Corporate

Registration Certificate. It shall take 07 working days from submission of required application dossier to the Business Registration Division for completing this work.

For avoidance of any doubt, in practice, the administrative procedures may take longer than expected since the competent authority must consult relevant ministries before granting the Investment Registration Certificate and the Corporate Registration Certificate. In such a case, SBLaw shall try our best to accelerate the progress in order to obtain the approvals at the earliest as possible.

2.PROFESSIONAL FEE

Professional Fee for performing SBLaw’s services as mentioned in Section 4 above will be as follows

For obtaining the Investment Registration Certificate and the Corporate Registration Certificate: 7,000 USD (Seven thousand US Dollars).

The above service fee is exclusive of 10% VAT, bank charge and cost for translation of documents from English into Vietnamese (10 USD per 150 words) and actual cost for traveling (if any).