Foreigners set up a company in the trade sector and wholesale business services

DMS Law office in Danang, Vietnam advise for foreign nationals establish a trading company to conduct wholesale business services in Vietnam ? 

Foreign individuals (the United States, the United Kingdom, China, Japan, Canada, Switzerland, Norway, Poland, Korea, Singapore, Hong Kong, Taiwan, and other countries) can carry out procedures to invest capital, apply for an Investment Registration Certificate, and establish a subsidiary company to conduct merchandise trade and wholesale distribution of goods in Da Nang, Vietnam;

Wholesale distribution services (Central Product Classification - CPC 622):

Foreign investors can invest capital to establish a company doing business in the field of commerce and wholesale distribution services in order to exercise export rights, import rights and wholesale distribution rights (excluding retail business activities) for goods on the list of Vietnam's export and import goods, according to the provisions of Vietnamese law;

For retail business activities:

Business activities in the trade sector and wholesale distribution services are conditional business investment lines and belong to industries and sectors that are subject to market access restrictions in Vietnam. Particularly for foreign investors and foreign-invested companies, if they wish to conduct retail business activities, they must meet business conditions and carry out procedures to apply for a Retail Business License according to Vietnamese law.

Related requirements:

- Copies of a valid passport;

- A bank’s account balance confirmation;

- An office rental agreement.

- A rent agreement for the company office.

Legal bases:

- Law on Investment No. 61/2020/QH14 dated 17 June 2020;

- Decree No. 31/2021/NĐ-CP dated 26 March 2021;

- Circular No. 03/2021/TT-BKHĐT dated 09 April 2021.

- Law on Enterprise No. 59/2020/QH14 dated 17 June 2020;

- The Commercial Law No. 36/2005/QH11 dated 14 June 2005;

- Law on Foreign Trade Management No. 05/2017/QH14 dated 12 June 2017.

Scope of jobs:

Foreign nationals can use our service to “establish a trading company to conduct wholesale distribution services in Da Nang, Vietnam”, by singing a legal service contract with DMS; the scope of jobs that DMS is obliged to perform according to the contract is as follows:

- Provide legal advice and guidance on providing information and related papers, draft and guide documents;

- Act as an authorized representative to work with authorities in Vietnam;

- Submit dossiers, receive and hand over results.

Contact information:

Phone: 0989 157 682 

Email: dmslawfirm@gmail.com

DMS LAW LLC

Director

(Signed)

Lawyer Do Minh Son