If you are now considering forming a foreign-invested company in Vietnam (“NewCo”) to provide IT consultation services to both of local and international Client in Vietnam.

As the specific information of IT consultation services are not available, we would like to set our service legal proposal based on two following assumptions:

(a)  You and other foreign investors (if any) are citizen(s) or corporation(s) duly established and operating under the legislation of a country member of WTO;

(b)  Upon establishment, the NewCo will provide the following services:

– Consultation services relating to installation of computer hardwares as defined under the CPC 841 of Vietnam WTO’s Commitment;

–  System and sofware consulting services as defined under the CPC 842 of Vietnam WTO’s Commitment;

– Other related IT Consultation Services including Systems Analysis Services; systems design services; programming services, system maintainance services (CPC 842); Data Processing Services (CPC 843); Data Preparation services and training services (CPC 849).

Under current Vietnamese regulations and WTO commitment, foreign investor can setup a  company in Vietnam to provide IT services as defined under CPC 841, 842, 843 and/or 849 either in the form of a wholly foreign invested company or a joint venture company.

We are of opinion that in general, the proposed services in your request fall into the scope of Vietnam WTO Commitments on opening market to foreign investors of country members of WTO.

Thus, it is possible for you to setup NewCo in Vietnam to provide the above mentioned services.

The establishment of the NewCorequires an Investment Certificate from the licensing authority.

Depending on the location of the company, the licensing authority may be the provincial People’s Committee (for companies located outside industrial or export processing zones) or the provincial Industrial and Export Processing Zones Management Authority (for companies located in industrial or export processing zones).

Basically, the licensing procedure for setting up the NewCo in this case shall be as follows:

Step 1:     Preparation of application dossier

Step 2:     Licensing Procedure

Step 3:     Post Licensing Procedure

SBLAW’s QUALIFICATION

We believe that SBLAW is well-positioned to assist you in obtaining Investment Certificate for setting up NewCo in Vietnam for following basis:

  • SBLaw’s understanding of Vietnam Legal Framework and well communication with competent authorities
  • Highly skilled and experienced consultants and lawyers with high ability to assist client regarding to approach business goals in Vietnam.
  • Experience of SBLaw in assisting client for obtaining license for incorprating companies and expanding business scope in Vietnam.

SCOPE OF WORKS

Our services in this regard will include:

SCOPE OF SERVICES

Preparation of the application documents:

  • Notifying application documents required in accordance with Vietnamese law;
  • Drafting application documents required for submission purpose including application, explanatory statement (similar to a feasibility study), power of attorney, board resolutions in English language;
  • Liaising with you to discuss the draft application documents;
  • Amending the application documents based on your comments;
  • Obtaining preliminary comments from the licensing authority on the draft application documents;
  • Finalising the application documents following comments from the licensing authority; and
  • Translating the final version of the application documents into Vietnamese for execution.
Licensing procedures:

  • Submitting the application dossier to the licensing authority on your behalf;
  • Monitoring and following up with the relevant authorities on the approval process;
  • Keeping you updated on the developments and additional requirements, if any; and
  • Assisting you in obtaining the investment certificate.
Post-licensing procedures:

Upon the issuance of the investment certificate, the NewCo is required to carry out immediate administrative procedures. Our services include:

  • Obtaining the seal of the NewCo;
  • Obtaining the New Co’s tax code; and
  • Placing an announcement on the establishment of the NewCo in the newspaper.
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