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First and foremost, ASL Law would like to send our best wishes and sincere gratitude to you (hereafter referred to as “Client”) for contacting our legal services. We understand that you are looking for legal guidance about opening a game company in Vietnam and game license in Vietnam. As a result, we are pleased to offer you the following Legal services for your consideration.
Procedures for establishing a Game Company in Vietnam
Under Vietnam’s WTO Commitments, international investors are only permitted to form joint ventures with local game launching partners when founding a gaming company. Foreign capital participation must not exceed 49 percent of the joint ventures’ legal capital. Thus, for this service, 100 percent foreign-invested companies are not permitted to operate in Vietnam, but the above joint ventures are permitted to be established in Vietnam.
As a result, in our experience, the following steps should be taken to establish a foreign-invested technology company developing a game in Vietnam:
- Step 1: Start a local gaming business company.
- Step 2: Purchase 49 percent of the contributing capital and the firm’s director should be foreign to manage and administer the company.
- Step 3: Apply for a game license for each type of game you want to promote.
- When you agree to proceed further, we will help you through the specifics procedures of the company’s setup process.
ASL LAW’s Services
The following works are offered in response to the Client’s request. However, depending on the Client’s individual position/situation, certain tasks may not be necessary. Any extra work, however, shall not be included in the scope of our Legal Service but may be performed upon request.
| SERVICES DESCRIPTION |
| Pre-licensing procedure
1. Consulting: · Attending various meetings with Client to explain and confirm the main principles for setting up the Foreign-invested company in the field of Restaurant in Vietnam (“the Project”); · Preparing a list of legal documents required for implementation of the Project. Based on the information provided by Client, 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 Client to submit the application files for implementation of the Project; and · Acting as Client attorney to follow up with the competent authorities regarding the implementation of the Project. |
| Post-licensing procedure
· Making public-notice on company establishment. · Assisting Client on company account opening. · Making and registering Company Corporate Stamp. |
| Additional services:
· Apply for game license (if required); |
The investment registration and business incorporation process may be divided into the following steps:
- Preparing the application dossier: We shall collect the necessary information and documents from the Client. 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 initial drafted application dossier shall be sent to the Client 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 in around 05 working days.
- Licensing procedure: around 30 – 40 working days upon submission
- Post-licensing procedure: around 05 working days upon submission.
For the avoidance of any doubt, in practice, the administrative procedure can be prolonged and the competent authority must consult relevant ministries before granting the license. In such a case, we shall try our best to accelerate the progress in order to obtain approval as soon as possible.
Thank you for contacting 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.
