Job Discussion Forums

[Charvo]

I have been living in Vietnam for the past 4 years. I want to get the criminal background check to get a work permit and to invest in Vietnamese stocks. I checked the website of the local police department for the city I used to live in the USA. It says

[Oh My God]

[Charvo]

Thanks for the reply. It would make sense for the immigration division of the embassy to have the ability to fingerprint someone. I think I'll inquire into that.

I went to the www.saigonnezumi.com. The blogger there says I only need a local police check done here if I have lived here for over 6 months. Like you said, I would think you need both too. I'm pretty sure the cops want to know if I was a felon back in the states. However, I don't actually want to go through the time and trouble to get a criminal background check from the states if I don't have to.

As far as investing goes, I just have a certain amount of money that I would like to build on as far as planning for retirement in the future. I'm not a bigshot investor. I think only the foreign direct investors can actually get licenses.

[londo]

Are we talking SE, bond, wholly-owned foreign companies, JV or part-ownership of VN Ltd companies?

As for Stocks, you need to do it through a registered investment vehicle i.e an investment fund, Dragon comes to mind as do some others, no licence needed. Bonds idem. Individual investment in stocks is strongly ill-advised at the moment IMO, but if you want to, go to a bank and speak to the investment manager (Sacom have proved good - also for gold by the way) and though we invest through the company, looking at the forms see no requirements for criminal checks but of course funds must be verifiable i.e from clear and legal sources.

Company start-ups require a biz-plan and proof of funds, not necessarily in VN, of at least $40k, though this depends on the DPI office and sector (retail is becoming increasingly difficult, capital wise).

A classic 70/30 VN/foreign company is possible but are no longer considered VN entities but FD investments and require a long-winded DPI procedure and high capital requirements which block many SMEs.

Buying active participation in wholly owned VN Ltd companies is blocked at the moment, there have been some recent decrees which have (as usual) muddied the waters and everythings stopped. The only way to this is to liquidate existing VN company and open a new JV which has to processed by Hanoi DPI with same Charter capital requirements as a 100% foreign enterprise.

Anyway you go....get good advice. PM me if you need some info, my lawyers are pretty good

[isabel]

I just got my police check done through an agent in Washington D.C.. Fingerprints weren't required. We sent a letter requesting the agent to do the job, and had the letter of request notarized in the U.S. Embassy in the country where I live.

It seems to be quite doable, but not real cheap.

[Charvo]

[Charvo]

[isabel]

[H5N1]

[londo]

Charvo, sorry , we're a VN company, for a foreign investor in Vietnam:
Custodian account: HSBC or a couple of others (ANZ?) in USD (transferred and declared)
Trading code:
Birth Cert., Passport, criminal background check, all translated and notarized by consulate.
Anti-laundering certificate
Capital invested must remain in VN for 1 year and any dividends can only be repatriated after also 1 year.
Some VN securities/custodian accounts say they need $100k minimum for foriegn investors, but pretty sure this is not the case.

Surely overseas on-line trading would be easier?

[Charvo]

[isabel]

The FBI route sounds good. The agent was hassle free and no fingerprints, and he is also taking care of the clearance of my degrees, but he is more expensive.

The return by snail mail is troubling. Maybe you should have it sent to a family member or friend in the States and have them Fedex it to you.

[Charvo]

[isabel]

[Charvo]