MIRRASIA  BUSINESS  ADVISORY

Information on the establishment of a Vietnamese subsidiary (subsidiary) of the Hong Kong subsidiary

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Total estimated cost of incorporation in Vietnam: USD 14,070

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** Hong Kong corporation document notarization fee: HKD 20,000 (approximately USD 2,570)

** Vietnam corporation establishment: USD 11,500

** Estimated time required: about 3 to 5 months

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One.  Documents required by the Hong Kong corporation (holding company) to establish a Vietnam corporation (a subsidiary of the Hong Kong corporation):  

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- Notary office of corporate registration certificate / Apostille notarization and Vietnamese consulate notarization

- Notarized business registration certificate office / Apostille notarization and Vietnamese consulate notarization

- Notary public office of recent annual report / Apostille notarization and Vietnamese consulate notarization

- Notary office of the Articles of Incorporation / Apostille notarization and Vietnamese consulate notarization

- Bank account balance certificate  Notary public office / Apostille notarization and Vietnamese consulate notarization

- Accounting audit reports for the last two years  Notary public office / Apostille notarization and Vietnamese consulate notarization

- DHL document shipping fee and handling fee

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Cost: HKD 20,000 (approx USD 2,570)

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2. Regarding the establishment of a Vietnamese corporation  

1) Required documents: 

- Scanned copy of passport / address document of Hong Kong corporation director

- A scanned copy of the passport/address document of the legal representative of a Vietnamese subsidiary

- Financial statements or audit reports of Hong Kong subsidiaries for the past two years

2) Essential requirements for incorporation in Vietnam  :

- Register at least one local resident in Vietnam as a director

  (Local director registration service available - USD 400 per month)

- Presenting a rental contract for a Vietnamese business site

  (Business address rental service available - USD 3000 / 1 year)  

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3) Capital: Minimum Capital  There is no regulation, but it is usually set between USD20,000 and USD50,000

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4) Vietnam corporation establishment cost: USD 11,500

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Service includes:

- Prepare the Power of Attorney

-  Document translation into Vietnamese  and collection of notarized documents

- Handling of incorporation documents (check the status of application for incorporation and work with related departments FOLLOW UP)

- Preparation of corporate shareholder list and articles of incorporation

- Incorporation application fee (USD 610)

- Corporate registration certificate   

- Registration of corporate seals in corporate seals and related departments

- Support for opening a capital account (VIETCOMBANK) - Takes 3-5 business days

- Support for opening a USD account - 7 business days

- Handling of trade license acquisition business (about 4 months)

- Business address rental service (1 year)

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5) Required period: estimated about 3 to 5 months

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6) Other expenses  

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- Tax registration agency fee: USD 600 (takes about 1 week)

- Vietnam work visa / temporary residence card  (Minimum USD 500)

- Product registration fee: USD 400 / per product (takes about 10 business days)

- Accounting and tax expenses: USD 350 / month

- Accounting audit cost: about USD 1,200 ~ 3,500  

7) Annual renewal fee  

- Business registration certificate utility fee renewal: USD 130 / 1 year

- Registration of business address  :  USD 3000 / 1 year

- Registration of local director  : USD 4,800 / 1 year

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** Investment Registration must be renewed once every 5 years.