Setting up joint venture company.

Last activity 09 June 2014 by TedSaigon

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KeliamMember20 May 2014 20:06:27

Hi
I'm looking to set up an import/export business in Ho Chi Minh. The information I have received to now tells me I need to have a nominee ( usually some kind of law firm?) that acts as your joint venture partner with 100% control but they then sign a pledge letter to leave us to make all company decisions to operate. The actual cost for reg, crest and stamps is only a couple of hundred dollars but the total cost is much,much more.......$5000 more with monthly costs to use there address and transfer letters if we use there address in set up of company. I will not be using there address as I intend to lease an office or house in D3 which may also include my accomadation.
I would be grateful for any advice or recommendations.

See below as explained from firm X.

As an alternative option, it would be our pleasure to propose an option for your consideration - Nomination structure. In this structure:

(1) You may appoint a Vietnamese individual (Nominee) to set up a 100% Vietnamese company providing the same business as you wish. By this option, on the legal documents, it is the Nominee who is the owner of the Vietnamese company.

(2) In addition, in order to protect the actual interests of the foreign investors (Nominators) in the Vietnamese company, the following documents will be entered into (i) a Nomination Agreement to govern the relationship between the Nominee and the foreign investors (Nominators), (ii) Loan Agreement between the Nominators and the Nominee, according to which the Nominee will use the money provided by the Nominator to invest in the Vietnamese company solely, (iii) Pledge Agreement, according to which the Nominee will pledge all the capital in Vietnamese company to the Nominator, this is to protect the actual interests of the Nominator in respect of the Vietnamese company when restraining the Nominee from selling the company to the others without your permission.

Note: the Nominee will do nothing in relating to the management of the company, the Nominators will run the business by themselve. The Nominee will transfer the capital in the Vietnamese company to the Nominator or the another person/organization appointed by the Nominators upon their instruction and subject to the permission of the Vietnamese law.

Guest2023Guest22 May 2014 02:13:46

214245

Go see a lawyer

charmavietnamViP22 May 2014 02:16:31

2841

TutenkamenActive member27 May 2014 01:52:15

If I am understanding this correctly, I believe the 'nominee' is the means by which you can conduct business without having to be licensed.

Guest2023Guest28 May 2014 04:07:45

214245

Hi Keliam:

(moderated: advertising is not allowed)

Ted

lethuongvn0504Member28 May 2014 07:28:38

Hello Keliam,

I am Vietnamese and my company located in HCMC, Vietnam. Pls check your Skype and email.

KeliamMember28 May 2014 08:15:58

Hi Ted
Not sure what you mean? Im looking for advise on how to go about setting up a company? Im looking for a recomendation for someone who may have done this recently and can steer me in the right direction. I would like to abide by the rules if you would explain and I can edit my post.
Kind Regards
Glen.

Ansaigon08New member28 May 2014 08:37:38

Hi Kel,

I got a guy who helped me to open my business some years ago!
He can help you many advice, form a company and type of company to secure you or avoid being imposed too much taxes!

You can contact me via my email , ansaigon08(at)gmail.com. I introduce you to him
Have a good day

Guest2023Guest28 May 2014 10:56:15

214245

Hi Glen:

First, Vietnamese in general doesn't understand English well enough to know what you wanted. Advices alone isn't enough. You're definitely need a Vietnamese whom spoke English well to help you. Also no one can give you advice correctly, excepted lawyers. They're not advice free.

(Moderated: no free ad on the forum pls)
Ted

Guest2023Guest07 June 2014 06:17:07

#10

214245

Form an LLC

http://www.vietnamembassy.org.uk/chapter2.html http://www.indochinalegal.com/sites/def … nal%29.pdf http://www.asiabriefing.com/store/categ … es-vietnam http://www.doingbusiness.org/data/explo … a-business

Guest2023Guest07 June 2014 06:57:14

#11

214245

Hi Keliam:

Setting up a company nowaday is without a problem. You can set up 100% foreign owned. Advices can't be online, because many people would taking advantage of open public forum, we're need private. Just email me: fernandezjose55[at]gmail.com ( Don't be silly ask me again on this forum)
Ted

Dejavu.dotSerial expat07 June 2014 16:39:44

#12

981

Keliam wrote:
Hi Ted
Not sure what you mean? Im looking for advise on how to go about setting up a company? Im looking for a recomendation for someone who may have done this recently and can steer me in the right direction. I would like to abide by the rules if you would explain and I can edit my post.
Kind Regards
Glen.

I set up a foreign Ltd company and until now I still manage all the things to make sure the owners will pay less as he can without making any fine from the Government. I can tell you $5000 is too much for setting up a company.

I can consult you the best way to do this. But your information is not so clear. I have many many many questions to ask you before telling what you need to do/who you have to contact with. I am sending my Skype ID. I will talk with you there.

bluenzMember08 June 2014 00:06:26

#13

1933

TedSaigon wrote:
Hi Keliam:

Setting up a company nowaday is without a problem. You can set up 100% foreign owned. Advices can't be online, because many people would taking advantage of open public forum, we're need private. Just email me: fernandezjose55[at]gmail.com ( Don't be silly ask me again on this forum)
Ted

Quote ,, ( Don't be silly ask me again on this forum) equates to , " you're not getting this info for free ", amazing personal business skills?

charmavietnamViP08 June 2014 02:02:07

#14

2841

That's not a personal business skill but a try to get something to survive in this city

bluenz wrote:
Quote ,, ( Don't be silly ask me again on this forum) equates to , " you're not getting this info for free ", amazing personal business skills?

Dejavu.dotSerial expat08 June 2014 03:29:09

#15

981

I think he contacted some companies in district 1. That is why the price is $5000

Guest2023Guest08 June 2014 06:38:03

#16

214245

Hi Keliam:

I've told you that, we should ONLY discuss on my private e-mail.

Ted

charmavietnamViP08 June 2014 07:59:18

#17

2841

Oh my god!

TedSaigon wrote:
Hi Keliam: I've told you that, we should ONLY discuss on my private e-mail. Ted

Dejavu.dotSerial expat08 June 2014 08:19:50

#18

981

TedSaigon wrote:
Hi Glen:

First, Vietnamese in general doesn't understand English well enough to know what you wanted. Advices alone isn't enough. You're definitely need a Vietnamese whom spoke English well to help you. Also no one can give you advice correctly, excepted lawyers. They're not advice free.

(Moderated: no free ad on the forum pls)
Ted

Hi Ted,

Are you a lawyer?

charmavietnamViP08 June 2014 09:26:40

#19

2841

Dejavu.dot wrote:
Hi Ted,
Are you a lawyer?

Guest2023Guest08 June 2014 12:28:03

#20

214245

No, I'm a business consultant, outsourcing.

Ted

Guest2023Guest09 June 2014 05:51:10

#21

214245

Re: Setting up joint venture company.(charmavietnam)
Oh my god!

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