Question: We are foreign investors intending to set up a retail business in Hanoi. We would like to know how much it will normally cost to engage your services in assisting us to incorporate a company and acquire relevant licenses (e.g.the Investment Certificate). We would be grateful if you may kindly provide us with a costs estimate.
Many thanks and best regards,
Answer: This is reference to your email below. We were entrusted to provide you legal advice regarding to forming retail business company in Hanoi.
Under Vietnam Law, foreign investor shall be entitled to forming foreign invested company (FIC) under the form of Wholly Foreign Owned Company or Joint Venture Company for conducting retail business if they can satisfy following conditions:
– Foreign Investor holding nationality of country member of WTO or other bilateral or multilateral agreement of which Vietnam is a party and Vietnam commit to open retail business market there under.
– Goods must not be prohibited or inhibited from import, export and distribution.
Thus, in order to estimate time and cost for you in this case, we shall need you to answer us following questions:
– What is your nationality?
– Will you invest in Vietnam individually? If yes, what did you do before investing into Vietnam?
– If you use your company abroad to run investment in Vietnam, please let us know when and where it was established and what its main business activity is.
– How much will you invest in Vietnam? Vietnam Law does not impose any minimum capital rate in this case. However, according to our practical experience, the capital should be at least 300,000USD.
– What are goods to be traded by the FIC in Vietnam?
We are looking forward to hearing from you soon.
