Q&A: Set up company on International Maritime Freight Transportation Service

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Set up company

SBLAW would like to provide client some legal advice on International Maritime Freight Transportation Service in Vietnam as follows:

Q: Relating to International Maritime Freight Transportation Service: It is possible for setting up wholly foreign owned company

A: Yes, you are right

Q: What is the Register capital requirement for setup a WOFE for International shipping / forwarding  company

A: The registered capital for company providing International Maritime Freight Transportation Service must be at least 20,000,000,000VND (about 930,000USD).

Q: We are an NVOCC (Non vessel operated common Carrier) company, so we need to know if there is any other special requirement on Licenses.

A: No. As other normal International Maritime Freight Transport Service Company, you shall need

  • Investment Certificate for Wholly Foreign Owned Company;
  • Sub-License for International Maritime Freight Transportation Service.

However, if you do not own vessel, you shall need to lease vessel from other Company for providing transportation service.

Q:As far as I know we need to have Multi-Model Transportation License which require a deposit of 80,000 SDR.  Please confirm this.

A:No. In order to obtain the Sub-License for International Maritime Transportation Service  20,000,000,000VND (about 668,083SDR).