We would like to set up export company in Vietnam and know the following information:

1. Is there any minimum registered capital requirement for Vietnamese company?

There is no minimum capital required in this case. Client shall be responsible to estimate required capital to cover business activities in Vietnam. According to our practical experience in similar previous case, 200,000 USD upward shall be acceptable.

 2.  Can you provide corporate services for the Vietnam Company, such as registered address and bookkeeping?  Or do I need to get a real office and hire some real people there?

We can connect Client with  Virtual Office Service and Book Keeping Service Provider.

 3.  Do I need to go to Vietnam for formalities? 

No, you do not need.
 4.  How about bank account, can you assist? 
Opening bank account in Vietnam is quite easy. It shall take you about 30 minutes to open bank account in Vietnam. You should directly work with the Bank in order to provide them authorized signature sample.

5. Our director also wants to know if he can apply for work visa in Vietnam for working and travel convenience once his company has been formed.  If so, can you assist and what is your fee for handling the work visa application.

Our expense for obtaining work permit is 700USD. The fee is exclusive of VAT (10%), expense for legalization  and/or obtaining Health Certificate; Clean Criminal Record in Vietnam (if he has arrived and stayed in Vietnam for 6 months already).

6. Our director also requires a corporate bank account in Vietnam because any payment should be made from foreign buyer directly to Vietnam.  Otherwise goods will not be eligible for import tax exemption.  As you mentioned that opening bank account in Vietnam is quite easy, please advise which bank will you suggest to this client?  Will the bank have an issue to foreign passport holder?

Your director can work with HSBC, Standard Charter Bank or VietcomBank, BIDV Bank. If a foreigner wishes to open bank account in Vietnam, he/she must have obtained a Temporary Residence Permit in Vietnam already. Term of such bank account shall not exceed duration of the Temporary Residence Permit.

7. How to get the “Temporary Residence Permit“ in Vietnam?  Can you provide this service & give us a quote?

 After obtaining Work Permit, he can obtain Temporary Residence Permit. It shall take him about 02 weeks to complete this. Our fee for obtaining temporary residence permit is 550USD. The fee is exclusive of VAT (10%).

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