Open FDI company for food, toys and toilet paper in Vietnam

Open a foreign invested company in this field for food, toys and toilet paper in Vietnam

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. Foreigner have rights to open a 100% foreign invested company in this field for food, toys and toilet paper in Vietnam.

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Kindly note that the business line of retail is a conditional business lines in Vietnam according to Vietnamese Law. Accordingly, apart from applying for Investment Registration Certificate and Enterprise Registration Certificate, Foreigner have to apply for Business certificate for the retail business line. Hence, for saving time and money, Foreigner can open the LLC company for wholesale and import-export business lines at first to get Work Permit and Temporary Residence Card.

One further note is that although the Vietnamese law has not had provisions on the capital of a foreign-invested company, according to our experience, the charter capital must be at least 50,000 – 100,000 USD depending on the provinces that Foreigner would like to invest to be grantedapproval of the Competent Authority.

Labor Issues in Vietnam

As Foreigner know, the Labor Vietnamese Law tends to protect the employees, so Foreigner should be careful in drafting the Labor Contracts and other relevant Contracts.

We shall support Foreigner to give our Legal opinion on main Labor Issues in Vietnam including but not limited Social Insurance, overtime working, contract termination, tax, annual leaves and other important leaves in Vietnam.

We also can support Foreigner to draft the Labor Contracts and other relevant Contracts to protect Foreignerr interests if required.

Work Permit and Temporary Residence Card

After opening the LLC company, we shall support Foreigner to get work permit and 2-year TRC in Vietnam.

KEY ASSUMPTIONS OF OPENING NEW COMPANY IN VIETNAM

This proposal and We estimate to accomplish the scope of work are based on the following key assumptions and dependencies listed in this section as well as throughout the proposal. Any deviation from these assumptions or assumptions found to be invalid could have an effect on Scope of work, Estimated Schedule, Charges and other terms. In such case, any change in our Scope of work, Estimated Schedule, Charges etc. will be managed through a procedure for amendment as mutually agreed in writing by two parties. Deviations that arise during the Service shall be managed via the same procedure.

  • The information in this document shall not be disclosed outside Client, and it shall not be duplicated, used or disclosed in whole or in part for any purpose other than to evaluate the proposal, provided that if a contract is awarded to We as a result of or in connection with the submission of the proposal, Client shall have the right to duplicate, use or disclose the information to the extent provided by the contract. This restriction does not limit the right of Client to use information contained in the proposal if it is obtained from another source without restriction. We retain ownership of this proposal.
  • We will treat as confidential all confidential proprietary information obtained from Client and will not disclose confidential information to others, or use the information, except in connection with the performance of the services hereunder, or as required by law. In all aspect of our practice, Weyers, Consultants and its other staff maintain strict standards of confidentiality regarding information obtained during the course of our engagement. We will however be to mention this matter in any publicity material.
  • Our legal consultancy services only cover the activities outlined in this proposal. In this service, we do not provide assistance in (i) legalization or the notarization of documents;
  • drafting, reviewing documents other than clearly stipulated in this Proposal; (iii) obtaining or assisting in obtaining documents from overseas; (iv) translation of document other than clearly stipulated in this Proposal; (v) representing or assisting Client in meeting or negotiation with its partner. Cost for translating documents from English into Vietnamese shall be 12USD/300 words.
  • Our professional fee does not include the costs and fee incurred on directly Client’s behalf. Total costs comprise photocopy fee, international call, state fee, banking fee, notarized fee on translate document, travel and accommodation expenses arise outside of the Ho Chi Minh or Ha Noi areas in case Client require Lawyer to work out of our Office, shall be paid and added into our service invoice.
  • The client shall take responsibility to pay 8% VAT and other tax under the provisions of

Vietnam law. Any tax as specified in law of country in which has Client’s head office shall under Client’s liability and is not deducted from the amount recorded on our invoice.

Professional Fee for establishing a new FDI in Vietnam

Work Scope Fee (USD)Assumptions
Opening a LLC company In VietnamCall usWe  shall  suppot  the  Client  to  open  the  LLC company including two steps: •   Investment Registration Certificate. •   Enterprise Registration Certificate. Time Frame: 25-35 working days  
Giving the Legal Opinion on Labor issues  Call us                                                                 
Drafting a new Employment contract  Call usWe  shall  support  the  Client  to  draft  a  new Employment  contract  template  in Vietnamese and English according to Vietnamese Law.Foreigner will have two rounds of making comments and we shall make the final one accordingly.
Applying for Work PermitCall usTime Frame: 20-30 working days
Applying for TRCCall usTime Frame: 10-15 working days
Virtual Office80 USD per month 
Monthly tax declationCall us 
Audit reportCall us 
                  Nominee Director Service                   From 450 USD per monthWe shall support the Client to appoint one of our staffs as a nominee director.
Company formation Services in Vietnam

We would like to thank for Foreignerr kind co-operation. If reader have further any inquiry, please feel free to contact us.

ABB Law firm – An intellectual property and law firm in Vietnam!

Email: thichdo@abbfirm.com

Tel: +84922772222

WhatsApp: +84972817669

Skype: trademarkattorney

Wechat: Vietnamlawyer

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