Question: We are foreign company and want sto setup a company in VN and import Vitamin from US and other countries and sell them in VN market.
Please let us know the below,
1. Is this feasible for them?
2. If so, what is the condition?
3. The schedule and service fee
Thanks for your supports as always.
Answer: This is reference to your email below. I am a litle bit concerned about vitamin. Several kinds of vitamin are treated as pharmaceutical products. Meanwhile, some of them are treated as functional foods.
For vitamin treated as pharmaceutical products, it is not possible for setting up FIC for trading pharmaceutical products in Vietnam. However, if they are treated as functional food, it is possible.
For setting up FIC trading functional food, the foreign investor should invest about 500,000USD as capital.
He/she shall be required to obtain Investment Certificate and Certificate of Business registration. Then, after setting up the FIC, the FIC shall be responsible for proclamation of the products to be imported.
For setting up FIC, it shall take you about 2 months from submission of required application documents to competent authority to setup the company. Regarding to the proclamation of imported functional foods, it shall take about 1,5 months to complete.
Our fee for setting up FIC in this case shall be 8,000USD. The fee is exclusive of 10% VAT, actual cost for translating documents of client from English into Vietnamese.
Regarding to proclamation of functional foods, our fee shall be 600USD/01 product. The fee is exclusive of 10% VAT, actual cost for translating documents of Client from English into Vietnamese and governmental fee.
If you would like further information on Setup a company in Vietnam and import Vitamin from USA, please either email to our Partners at: info@sblaw.vn or call to our Office:
Ha Noi Office: +84 (4) 62 62 0246
HCM Office: +84 (8) 35 208 101.
