Establishing a 100% foreign owned enterprise

To do this it takes:
Money,
Lawyers (they know whose hand to cover with gold),
Patience
A liking for form filling.

Have a poke around < http://www.setupcompanyvietnam.com/ > and < http://www.eng.hochiminhcity.gov.vn/bus … fault.aspx >. I registered all my (JV) in HCM then move them out to other provinces. Saves hassles.

Sole, Foreign ownership is a pain - much easier to find a sleeping partner and go JV.

Hi,

If you have USA nationality, just need to pay 500$ for setting up a company. There is a organization of American businessmen in HCM, you can join them every month.

Regards

Dejavu.dot wrote:

Hi,

If you have USA nationality, just need to pay 500$ for setting up a company. There is a organization of American businessmen in HCM, you can join them every month.

Regards

Can you give me more info about this meeting?

LaxFogo wrote:

If you have USA nationality, just need to pay 500$ for setting up a company. There is a organization of American businessmen in HCM, you can join them every month.

AMerican CHAMber of commerce. < http://www.amchamvietnam.com/ >

Jaitch wrote:

LaxFogo wrote:

If you have USA nationality, just need to pay 500$ for setting up a company. There is a organization of American businessmen in HCM, you can join them every month.

AMerican CHAMber of commerce. < http://www.amchamvietnam.com/ >

Wait till you see their join up fee's. I had a cooperate membership card with them when I was in Japan, they ain't cheap.

Jaitch wrote:

AMerican CHAMber of commerce. < http://www.amchamvietnam.com/ >

Thanks Jaitch.

Budman1 wrote:

Wait till you see their join up fee's. I had a cooperate membership card with them when I was in Japan, they ain't cheap.

I don't know about the fee but many people have joined, they must have a reason for that. If not, just pay 100 000d when you join in every party.

FYI

Membership Application Fee and Annual Dues

Dues are payable on an annual basis.

Application Fee VND 2,650,000 
Company (2 representatives) VND 16,000,000 
Associate Company (2 representatives) VND 16,000,000 
Additional Membership VND 3,700,000 
Non-Resident VND 9,900,000 
Non-Government Organization VND 16,000,000 
Honorary Free 

Due to new Central Bank regulations, all deposit/payments to AmCham accounts must be paid in VND to value of the exchange rate of the day. International transfers are still accepted.

Membership Application Supporting Documents

AmCham Vietnam was licensed by the People's Committee of Ho Chi Minh City on September 19, 1998 as an “international business association” on the basis of the Decree of the Government Promulgating the Regulations on the Establishment of International Business Associations in Vietnam, Decree No. 8/1998/ND-CP, 22 Jan 98. According to the decree and AmCham's Charter, companies must be legally established in Vietnam, including representative offices, foreign invested enterprises, or branch offices and must submit their business licenses demonstrating their status as part of the Membership Application. Membership applicants must submit the following items:

1. Completed AmCham HCMC Membership Application Form (All items must be completed, including Address and contact points of U.S. based corporation or other international firm that established the business in Vietnam). Click here to download a Membership Application Form (DOC | PDF), complete it, and email or fax it to us (at +84 8 3824 3572).
2. Copy of ID page of Passport (to show citizenship)
3. Copy of VISA showing status under which applicant(s) entered Vietnam
4. Copy of Representative Office License (Giay Phep Van Phong Dai Dien), FDI License (Giay Phep Dau Tu), or Branch Office License indicating that the applicant is legally established in Vietnam.
5. Work Permit issued by the Service of Labor, Invalids and Social Affairs, if such permit is required by Vietnamese law.

Budman1 wrote:

FYI
Membership Application Fee and Annual Dues - Dues are payable on an annual basis.

Guess you can expense them as business costs from taxed income so in effect Uncle Sam, or Uncle Ho, gets to pay in the end. Uncle Ho is pretty tight on deductibles - so just stick the fees in the 'Incidentals' column, along with the 'bribe' expenses.

Or the OP could make friends with a paid up member and find out the name of the lawyers they recommend for incorporation.

May want to also ask a lawyer if there's a minimum starting investment capital.

I love the lawyer quote from Jaitch...haha so true

Though in all seriousness, my opinion is that you would need a Vietnamese partner/gf. That is the case if you don't know the language if not by all means it's possible but without this knowledge I'd say not

Chris

Hello,

Important thing that your business project with good strategy in Viet Nam how will be shown. Opening company with 100% own foreign that will be ok, this is in law, so you need law company or lawyer to support. Do right thing in first time that make you strong to go ahead. Use business mind to do simple about this.

Any help pls tell me if i can do.

L.Van

Yes, there is fee to set up a foreign company in Vietnam .

It's $15, 000 to $25,000...It all depends who you dealing with to set up your business . Than  $5,000 to $7,000 annually fee thereafter .

Hi,
I am Lyza From Philipines living here in Phumy hung Dist. 7.
I have a business in here a branded stock lots, over runs from the factory.
I need some partner. if you are interested then let me know. or call me ***

Lyza

Hi everybody,

All those who are looking for a business partner, i invite you to post an ad in the  Business partners in Saigon section, it is the most appropriate section for your research.

Thanks

Priscilla 

legionlabs wrote:

May want to also ask a lawyer if there's a minimum starting investment capital.

There are no set minimums, and will depend on the business line of the new company and the "project".  This entirely depends on the discretion of the authority handling the application.