Under Vietnam Law, it does not impose any minimum rate of capital for running shipping agency and forwarding services company.
However, the Investor must be responsible for explaining possibility of running such company with his proposed capital. According to our practical experience, an amount of 200,000USD is reasonable rate for running FIC providing shipping agency and forwarding services.
With the regards to foreign ownership ratio in the FIC providing shipping agency and forwarding services, before 2014, Foreign Investor can only setup Joint Venture Company with Vietnamese to provide shipping agency and forwarding services. However, from the year of 2014, such limitation is totally removed.
Thus, it is possible for you to setup 100% foreign owned company for providing shipping agency and forwarding services. However, the competent authority still favor the option that foreign investor set up joint venture company with local partner to provide these services in Vietnam. That is why your Client was advised so by the Officer of the Government.
As mentioned in our legal service proposal, our professional fee is exclusive of 10% VAT, Government Fee (about 100USD), expense for translating documents of your Client from English into Vietnamese (we shall require your Client to provide us several documents such as Certificate of Incorporation, Corporate Charter etc) : 10USD/300 words and expense for traveling and accommodation out of Hanoi or Ho Chi Minh City (this shall be incurred if your Client instruct us to join meeting held in places other than Hanoi or Ho Chi Minh City).
