On November 20th, 2024, Mr. Cong Thanh Bui – Managing Partner and Mr. Phu Vinh Tran – Partner of PLF Law Firm held an important meeting with SK Immigration&Law and Trestle Wealth Management.
Transformation After More Than a Decade Doing Legal Consulting
After 15 years of providing Inbound and Outbound Investment consulting in Vietnam, PLF Law Firm officially internationalizes its business to the North American market. The meeting with two major partners from Canada marked the first milestone in PLF’s going global commitment with focus on promoting cross-border investment opportunities in 2025, emphasizing on Legal – Business aspects.
Throughout the meeting, Mrs. Rheanne I. Heo – President of SK Immigration&Law, and Mr. Minh Tuan Le – Managing Director of Trestle Wealth Management, expressed the excitement about collaborating with PLF. Mrs. Rheanne also confessed that she is has been actively seeking a local Vietnamese law firm, who could assist her Korean and Japanese clients in legally investing in Vietnam.
Insights from Canadian Partners
The discussion began with SK and Trestle sharing valuable about the potential of business development in Canada—a dynamic, and open market with strong integration like Vietnam.
Specifically:
- Mrs. Rheanne – President of SK noted that many businesses in Asia, including South Korea, Japan, and Vietnam have been seeking opportunities to expand into the Canadian market. Many investors, particularly those having strong finance and a retirement plan also think of relocating their families to Canada. Up till now, SK has successfully supported over 6,000 cases across various immigration programs.
- From Trestle, Mr. Tuan said that there are many ways to move to Canada at reasonable costs, many of which are either company formation or real estate investment. However, he also stressed that investors must comply with Vietnamese laws first, clearly define their purpose of immigration, and adopt risk management strategies to avoid delays in filing application, notably:
- Applicants must have a clean criminal record in Vietnam and be well-versed in the immigration requirements set by Canada.
- If the purpose of immigration is not business-related, applicants should have contingency plans in place and wisely choose the main applicant when filing the forms.
These insights from both partners helped PLF Law Firm deeply understand the real needs of investors when choosing Canada. While expanding their current businesses and targeting global clients may be just short-term goals, the key motivator behind their decisions today actually is to improve the quality of life for the whole family.
Perspectives from PLF Law Firm
On the PLF side, Mr. Vinh said that many domestic and international clients encounter legal document issues when submitting their applications to do business in Vietnam.
Specifically:
- Language differences when drafting documents often lead to misinterpretations, information omission, delays or even rejections of application, despite providing the right information from the start.
- Submitting documents to the wrong authorities wastes time and resources for both lawyers and clients. Quite hard to control this issue; however, can be less intense if clients work with a reputable law firm with sufficient resources to smoothen the processes without incurring excessive costs.
Mr. Thanh further shared that PLF Law Firm understands these concerns quite well, given years of experience in assisting thousands of clients, case by case. That is why the firm always prioritizes thorough research, translation, and meticulous document review before proceeding with the next steps. Therefore, with the concerns of SK and Trestle, PLF is ready to provide comprehensive support.
A Promising Partnership for the Next Five Years
The collaboration between SK Immigration&Law, Trestle Wealth Management, and PLF Consulting Canada (PLF’s first branch in North America) presents an excellent opportunity for both sides to tap into this promising market.
From the sharing of target clients, including:
- Merchants that export agricultural, forestry, and seafood products from Vietnam
- Investors from Asia
- Investors from Canada
SK and Trestle, with their expertise in immigration and diverse sources of funding, can effectively assist with residency and financial matters. Meanwhile, PLF Law Firm, with over 15 years of experience in corporate legal consulting, company formation, mergers and acquisitions, and outsourced in-house counsel, will directly support clients in doing business legally.
Collaboration awaits
The meeting ended with mutual optimism about a potential collaboration in 2025. With a commitment to stepping out of their comfort zones and actively seeking target clients, PLF Law Firm is taking the first steps toward realizing its ambitious five-year plan, aiming to serve the global business community and foster sustainable growth.
