ENQUIRY: SETTING UP NEW COMPANY IN VIETNAM
We are a company based in Singapore and would like to set up a LLC or joint venture in Vietnam for our electronic distribution business.
Kindly provide us with a fee quote and timeline in respect of this service.
ASL LAW’S ADVICE
Dear Jim Tan,
Thank you for your mail.
We understand that you would like to set up a joint venture company with Vietnamese partner to distribute electronic devices in Vietnam.
In order to prepare the Proposal in details, please see some preliminary advice as follows:
Business lines of company
This is the most important point you need to pay attention when setting up entity in Vietnam since it will define the type of business and what relevant laws regulate the company.
Please let us know how you want to do business in Vietnam then we can provide further advice.
Following your initial email, we understand you want to set up a joint venture with VN partner distributing electronic devices. Under VN Law, trading activities included : Import and Export right, Whole sale right and Retail right. Distribution applied for Whole sale that you can sell to Distributor only. It is not possible to sell to end user.
Pease list out the products will be distributed in VN under category of “Electronic distribution”
Joint Venture Company
If it is trading activities, Vietnam Law allows to set up either 100% foreign owned company or joint venture with another partner
Location of Office
Please clarify us which city in Vietnam you want to set up company. It is noted that company can register in private house or Office building or Co-working space only. It is not allowed to set up Company in apartment building. If it is in Co- working space, at least you need to have 1 working desk.
Investment Capital Amount
Please let us know the minimum investment capital amount to run this business. In actual practice, Trading requires about 100.000 USD to obtain Investment Registration Certificate. Less than that, it is difficult to get approval.
Please get back to us the sufficient information before we provide you the proposal in details
Thank you and have a nice day.