Question: My name is David, Singapore citizen with Vietnamese spouse, settled in Ho Chi Minh City
I have two questions and need your assistance if it applies
1. Is it possible to sell a property by lease option in Vietnam?
If you does your agency know how to prepare the contract and set up an escrow to handle the matter?
2. I am planning to import herbal traditional cosmetics from India. Then distribute and market it here and set up a company to do that.
What is the overall charge of registering a single product with the health ministry for import? And what are the charges for registering as an import agent/company to handle the process?
Do you assist in the above procedures and how much would you charge?
Answer: I am Lawyer of SB Law. I was entrusted to provide you legal advice regarding to issues raised in your email hereunder.
1. It is possible to sell a property through lease option in Vietnam. It shall totally depend on mutual agreement between Seller and Buyer. However, this option is not quite popular in Vietnam now. We can assist you in preparing a contract for that. Regarding to escrow, in Vietnam, only commercial banks can setup an escrow in order to handle this.
2. For registration of a cosmetic products for import, our professional fee shall be 400USD/01 kind of product. The fee is exclusive of VAT (10%).
In case you wish us to help setup a foreign invested a cosmetic import agency, our fee shall be 4,000USD. The fee is exclusive of VAT (10%) and actual cost for translating your documents from English into Vietnamese (10USD/150 words).
If you have any questions, do not hesitate to contact us.
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