The notable points to set up a company in Vietnam (Ho Chi Minh City)
The intended business scopes of the company
I would like to divide into 02 sections, including: (i) services; and (ii) manufacturing
(a) Services. Expats should define which services you wish to provide as detail as possible. In case you cannot name what your services are, please consult the reputable lawyer. He/she will help you to define your intended services.
To know that your intended services are allowed to provide in Vietnam, please take a look on Vietnam’s commitment on accession into the World Trade Organization (the “Vietnam’s Commitments”). Under the Vietnam’s Commitment, you will know whether there is any restriction on the investment form and the capital ownership ratio of the expats and so on. In case you do not find your intended services in the Vietnam’s Commitments, it should cross-check the local laws of Vietnam to know that such intended services are allowed for the expats to provide. Finally, if the local laws keep silent on your intended services, approving your intended services will mainly depend on the sole decision of the local licensing authority based on their evaluation on the impact on the socio-economic conditions, business scale, experience and financial capacity of the expats and so on.
(b) Manufacturing (to be continued…)
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