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Company establishment in Vietnam: Could you brief the establishment of a new company in retail service on lazada in Vietnam and provide us a quotation if we decide to engage your firm for this matter?
ASL LAW’s ADVICE
First of all, ASL Law would like to send our regards and sincere thanks to you for contacting our legal service. We understand that you are seeking legal advice for register an 100% foreign invested in the retail field in Vietnam. Therefore, we are grateful to present you our Legal Service Proposal for your review and consideration as follows:
Under Vietnam’s WTO Commitments, foreign-invested companies engaging in distribution services will be permitted to engage in the commission agent, wholesale, and retail business of all legally imported and domestically produced products except cigarettes and cigars, books, newspapers and magazines, video records on whatever medium, precious metals and stones, pharmaceutical products and drugs, explosives, processed oil and crude oil, rice, cane, and beet sugar. You have the right to set up a foreign-invested enterprise in Vietnam in this field.
As your information, you shall launch a sale on the Lazada marketplace, so you shall not open a physical retail shop.
The business line of retail is a conditional business line in Vietnam according to Vietnamese Law. Accordingly, apart from applying for Investment Registration Certificate and Enterprise Registration Certificate, you have to apply for a Business certificate for this field.
In addition, Hong Kong and Russian companies can be the parent of Vietnam companies. For this case, you can choose the form of company which is a Two Member Limited Company to manage and operate the company in Vietnam.
In your specific task, we support the clients in all the procedures related to the establishment of a new company in retail service on lazada in Vietnam.
The description of our works can be viewed in the following table. However, depending on the specific position/situation of Clients, several work items may not be necessary. Meanwhile, other works may be required. However, any additional works shall not fall under the scope of this Legal Service Proposal, but could be provided upon request.
| DESCRIPTION |
| Pre-licensing procedure
1. Consulting: · Attending various meetings with Clients to explain and confirm the main principles for setting up the Foreign-invested in the retail field (“the Project”); · Preparing a list of legal documents required for implementation of the Project. Based on the information provided by Clients, we will review and incorporate these documents into the application file; 2. Drafting documents: · Drafting the Application Dossier for implementation of the Project. · Drafting the Charter of the Company. |
| Licensing procedure
· Reviewing and assembling all required documents to be included in the application file for implementation of the Project; · Representing Clients to submit the application files for implementation of the Project; and · Acting as Clients attorney to follow up with the competent authorities regarding the implementation of the Project. |
| Post-licensing procedure
· Making public-notice on company establishment. · Assisting Clients on company account opening. · Making and registering Company Corporate Stamp. · Opening a Bank Account. ASL Law shall support the Client to open a bank account. |
The roadmap for investment registration and company incorporation can be described in the following steps:
- Preparing the application dossier: We shall collect necessary information and documents from Clients. Upon receipt of necessary information and documents from you, we shall translate documents from English into Vietnamese and prepare the application dossier under the standard forms. The initially drafted application dossier shall be sent to Clients for your comments. Then, after updating the application dossier based on your comments, we shall provide finalized application dossiers for execution. We anticipate that this phase shall be completed around 05 working days.
- Licensing procedure: around 30 – 40 working days upon submission
- Post-licensing procedure: around 05 working days upon submission.
For avoidance of any doubt, in practice, the administrative procedure can be prolonged due to that the competent authority must consult relevant ministries before granting license. In such case, we shall try its best to accelerate the progress in order to obtain the approval at the soonest.
We hope the above is of your assistance. Should you have any inquiry, please do not hesitate to contact us.
We look forward to hearing from you very soon.
Thank you for contacting with us.
ASL LAW is the top-tier Vietnam law firm for doing business in Vietnam. If you need any advice, please contact us for further information or collaboration.
