(S&B Law) Vietnam is a potential travel market for foreign investor. However, the question is that they can set up it in Vietnam and have any limitation. The lawyer of S&B Law advised this matter as follows:
Regarding to foreign investor’s demand on setting up a travel and tour company in Vietnam, it is advised that under Vietnam’s Commitment, tour and travel services are classified to CPC 7471.

Accordingly, foreign investor may setup a travel and tour company in Vietnam. However, such foreign investor must setup a joint venture company with a local travel and tour company in Vietnam. Furthermore, such joint venture company is only permitted to provide inbound tours only.

Under Vietnam Law on Tourism, in order to setup a foreign invested company in the field of tourism, it shall require at least 250,000,000 VND (approximately 12,500USD) bank deposit

In case the above requirement is satisfied, it shall take about 45 working days to complete the company registration as it requires for approval from Ministry of Culture, Sport and Tourism.

If you have any queries concerning this matter, please contact with our law firm at www.sblaw.vn or email to info@sblaw.vn.

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