Question: I wish to set up a Vietnam company and I have the following concerns:
- Once the company is registered in the registrar, whether the individual directors and shareholders’identity will become public information that can be searched by anyone globally.
- Whether it is mandatory for a Vietnamese company to submit an audit report annually to the registrar, if so, the fees involved for appointing an auditor.
- Fees, time, documents required for setting up a Vietnamese company . Thank you.
Answer: As your request, SBLAW would like to advise as follows:
Once the company is registered in the registrar, whether the individual directors and shareholders’ identity will become public information that can be searched by anyone globally?
Full name of the legal representative of the Company shall be published and available for global search. Other individual information of Legal Representative and Founding Shareholder or Foreign Shareholder can be accessed if the searcher pays searching fees.
Whether it is mandatory for a Vietnamese company to submit an audit report annually to the registrar?
Yes, it is mandatory for a Foreign Owned Company and/or listed company in Vietnam to submit an audit report annually to the registrar. For a non-listed pure local company shall only need to submit a non-audited report annually to the registrar.
If so, the fees involved for appointing an auditor.
It shall very much depend on the scale of the business activities of the Company to be audited and the range of the auditor. The fee shall be around 3,500USD to 5,500USD for a small sized company. The service is provided by a high ranked auditor in Hanoi.
Fees, time documents required for setting up a VietnameseCompany
Our fee for setting up a foreign owned company in Vietnam shall very much depend on what kind of business activities they intend to carry out in Vietnam, minimum 3,850USD. The fee is exclusive of VAT (10%) and cost for translating your documents from English into Vietnamese. It shall take at least 20 working days from submission of application dossier to the registrar to complete.
Meanwhile, if you wish to setup a pure local company, our fee shall be 350USD. The fe is exclusive of VAT (10%).
It shall take at least 6 working days from submission of application dossier to the registrar to complete.
