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Thứ Hai, 6 tháng 4, 2015

Q&A: How much will cost to incorporate trade and service company in Vietnam?

Q: How much will cost to incorporate trade and service company?
What are the taxes?
Could we incorporate a company with nominee resident director, and then , after opening account, change the director?
Is it poossible?
Could you offer such a services?

A: For incorporating a trade company in Vietnam, our fee shall be at least 7,000USD. The fee is exclusive of 10% VAT and cost for translating documents prepared by your side from English into Vietnamese (10USD/150 words) and actual cost for travelling and accommodation of our lawyer if client locates company in cities other than Ho Chi Minh City or Hanoi.

For incorporating a service company in Vietnam, our fee shall be at least 4,000USD. The fee is exclusive of 10% VAT and cost for translating documents prepared by your side from English into Vietnamese (10USD/150 words) and actual cost for travelling and accommodation of our lawyer if client locates company in cities other than Ho Chi Minh City or Hanoi.

We can only provide you an accurate legal service quotation upon receipt of full information of your business plan in Vietnam.

The Corporate Income Tax in Vietnam for all companies shall be from 20-22% of benefit. Value addedTax shall be from 0-10%.

You can setup a company with a nominee resident director, and then, after opening account, you canchange the director. However, such change of director needs to be registered with competent authority.

For recording change of director, our fee shall be 1,000USD. The fee is exclusive of 10% VAT and cost for translating documents prepared by your side from English into Vietnamese (10USD/150 words) and actual cost for travelling and accommodation of our lawyer if client locates company in cities other than Ho Chi Minh City or Hanoi.

We do hope that the above information is helpful for you. If you have any further inquiry, please feel free to contact us.

Please contact for more information: Lawyer Nguyen Thanh Ha

Lawyer Nguyen Thanh Ha (Mr.)

Mobile: + 84 906 17 17 18

Email: ha.nguyen@sblaw.vn

Brief information on Representative Office in Vietnam

Representative Office is an option for Foreign Investor who wishes to conduct market research, trade promotion etc in Vietnam.

Depending on business sector of the parent companies abroad,conditions and procedure for setting up representative office in Vietnam may be different.

Up to now, Vietnam Law only stipulate conditions and procedures for setting up Representative Office for foreign companies operating in the field of trade, trade related services, sale andpurchase of goods; education; tourism; banking, law; securities and airline only.

Generally, a Representative Office shall be permitted to conduct following activities:

- Operate as contact office of the Company in Vietnam;

- Promote cooperation projects of the Company in Vietnam;

- Research market to push up chances to purchase commodities, supply and consume commercialservices of the Company in Vietnam;

- Supervise implementation of the Company’s contracts signed with Vietnamese partners or related to Vietnam market;

The Representative Office shall not be allowed to conduct business activities for profit making purpose in Vietnam.

For foreign companies operating in field trade, trade related services, sale and purchase of goods, it shall take about 15 working days from submission of application dossier to the licensing authority for granting the License for establishment of Representative Office. The License for establishment of Representative Office shall be valid within 5 years. The validity term of such License can be renewable. However, the validity term of License for establishment of Representative Office must not exceed validity term of Business License of the Parent Company.