Question: Dear sirs, warm greetings! I am helping my friends (individual fintech investors) to setup a legal entity in Vietnam.
The business is about online microlending. Something similar to Cashwagon and Tima.vn. I couldn’t find enough details about such type of activity in SBV’s knowledge base or elsewhere.
Do you have experience supporting such type of legal setup? If yes, can you estimate costs with high-level break down including your service fee? Many thanks in advance for your reply
Reply: Until now, Vietnam Law has not yet officially recognized fintech. Almost fintech companies now in Vietnam is now lending money to their client through pawn service.
Pawn service company is generally operated and owned by Vietnamese people.