Phuoc & Partners, one of the largest law firms in Vietnam, is a veteran specialist in providing legal services to foreign investors entering the Vietnamese market and for domestic companies receiving investments from foreign parties. We have worked on many high profile projects in a wide range of industries. We can assist clients with our full complement of legal and business services or through targeted advice and support in certain phases of the investment process.
Whilst often very complicated, Phuoc & Partners long time experience in this area gives us the foremost ability to deliver our clients the smoothest and most efficient approach to their investment projects. We will advise our clients of the most legally effective way to structure their deals, and perform due diligence with respect to their partners, potential locations, and target companies or assets. Additionally, we will draft, review and comment on transaction documents, negotiate all terms of these documents on their behalf, and monitor the whole process of investment or withdrawal in order to protect clients from possible pitfalls.
Phuoc & Partners has maintained a particularly specialist practice in establishing joint ventures. We have regularly represented foreign and domestic clients in a diverse range of foreign investment project. We advise foreign companies on building up their presence in Vietnam through the acquisition of existing businesses or establishment of joint ventures with Vietnamese partners.
Over the years, we have acted on behalf of multi-nationals in all fields and sectors including production, infrastructure, natural resources, and services. In addition, we have provided services to international and domestic clients throughout the life cycle of their investment projects in Vietnam. These services include detailed legal due diligence, designing of project structure, the establishment of various forms of foreign-invested enterprises, asset or share purchases, tax advice, drafting of project documents, and advisory assistance in negotiations and approval processes. Our vast experience in establishing joint ventures has also given us a unique ability to identifying likely problem areas regarding operations and the potential for future disputes.
Establishment of Foreign Invested Enterprises (FIEs)
We supported foreign clients in building up and expanding their presence in Vietnam by establishing FIEs. These can take several diverse legal forms depending on the client’s needs, such as equity joint ventures, business cooperation contract and wholly-foreign-owned enterprises.
What’s more, we can assist in connecting Vietnamese private enterprises looking to attract foreign investors with a suitable foreign partner and can facilitate cooperative agreements and corporate governance between parties. We have been involved in the establishment of FIEs in almost all sectors including pharmaceuticals, construction, e-commerce, chemicals, infrastructure, distribution, machinery, building materials, transportation and several others.
Company Secretarial Services
Our team draws on a wealth of corporate and commercial expertise to deliver a full range of company secretarial services to our clients, including advising on and managing regulatory compliance and corporate governance obligations on an ongoing basis. We deliver effective and useful solutions to address the needs of a variety of client firms from large multinationals to institutional investors to small start-ups to special purpose vehicles. Particularly, we can provide services pertaining to:
- Management of the approval and registration procedures for establishing legal entities;
- Completing post-establishment registration procedures;
- Maintaining company registrations and filings;
- Renewal or change of licenses;
- Preparation of board resolutions and minutes; and
- Assisting in annual inspections.
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Outbound Investment From Vietnam
Outbound investment from Vietnam has continued to increase during the last few decades, with a strong focus the ASEAN region and some western countries including the USA, Australia, Canada. Phuoc & Partners is recognized as one of the first Vietnamese law firms to advise clients in this area and today remains one of only a few law firms in Vietnam with a dedicated practice in this regard.
Ongoing Legal Advice to FIEs
We are operating on a continual long-term basis for many clients in connection to their legal and corporate matters. We provide daily legal support services to clients in their activities while keeping them abreast of the latest legal provisions that relate to their business and industry.
We assist clients in complying with their obligations pertaining to taxes, foreign exchange, labour, the environment, and customs. We pride ourselves on our practical and conscientious approach to our work. For many clients, we are no longer simply “lawyers” but a valuable member of their team. Our lawyers are regularly invited to serve as directors or company secretaries to FIEs in Vietnam.
We help Vietnamese enterprises invest overseas by
- Conducting surveys of the legal environments of targeted overseas countries and associated risk assessments;
- Helping clients secure approvals from the Ministry of Planning and Investment and relevant Vietnamese State agencies to invest overseas;
- Providing legal advice on facilitating foreign currency payments, including navigating Vietnam’s strict foreign exchange control policies;
- Designing optimal investment structures (e.g. under the form of either a representative office, branch, subsidiary or partnership) in compliance with the requirement of Vietnamese law;
- Preparing and/or reviewing investment documentation;
- Helping clients prepare periodic and annual reports as required by the competent governmental authorities of Vietnam; and
- Helping clients negotiate with business partners at each stage of the investment process.
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