Information on setting up a company in Vietnam

Information on setting up a company in Vietnam

CLIENT’S INQUIRY
Good Day! 

I hope this email finds you well. I would just like to get information on how to setup a company in Vietnam. The cost as well as the timeline. The company is Mey____, a semiconductor solutions company. The main office is in Singapore with branches in Malaysia and South Korea. For more information on Mey)))))), please refer to this website https://www.mey____. Should you need further information not provided in the website, kindly let me know. 

I hope to hear from you soon.

Thank you and best regards. 

ASL LAW’s ADVICE

Dear Ms. E____

  1. PRELIMINARILY COMMENTS OF ASL LAW

First of all, ASL Law Limited Liability Company (hereinafter referred “ASL”), would like to send our regards and sincere thanks to you and your wife (hereinafter referred “Clients”) for contacting our legal service. We understand that Clients are seeking legal advice for opening foreign-invested company in the field of semiconductor, computer related service and recruitment service 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, foreigners are allowed to open a new company in the field of semiconductor, computer related service and recruitment service in Vietnam. Hence, you have right to open a new foreign-invested company in this field in Vietnam.

2. SCOPE OF SERVICES

Following works are proposed based on the request of Clients. 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 company in the field of semiconductor manufacturing, computer related service and recruitment service in Vietnam (“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; andActing 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.

The roadmap for investment registration and company incorporation can be described in the following steps:

  1. 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 initial 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.
  2. Licensing procedure: around 30 – 40 working days upon submission.
  3. 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.

3. PROFESSIONAL FEE

Opening wholly foreign-invested company, our professional fee shall be ______(Please contact us to have an updated fee for opening a new company in Vietnam)

  • Professional fee shall be paid to ASL LAW as follows:
  • Within 03 working days upon signing the Legal Service Proposal, Clients will deposit 70% of total estimated professional fee including VAT.
  • Within 03 working days upon issuance of Enterprise Registration Certificate, Clients will pay 30% of total estimated professional fee including VAT.
  • Clients shall immediately notify ASL LAW of when actual payment(s) will be made on the amount specified in the invoice(s). ASL LAW will start working only upon receipt of payment of the respective invoice(s). Alternatively, ASL LAW reserves the right to withdraw the service if payment is not received 10 days after the date of the invoice. Further, in the event payments are not received by the payable date, ASL LAW reserves the right to suspend services and/or levy and collect a late payment fee of 0.5% per month up to the date of receipt of payment by ASL LAW

Once again, we would like to thank for your kind co-operation. If you have further any inquiry, please feel free to contact us.

If you agree, please send us the official instruction. We do hope that the above-mentioned advice will be useful for you. Should you have any enquiry, please do not hesitate to contact us.

    CONTACT

    Your infomation


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