The 42-year-old "Wedding Crashers" actor has teamed up with Wild West Picture Show Productions to co-produce the film with his sister Victoria Vaughn and Sandra J Smith, reported Deadline.
The action film will follow hostage extraction specialists Grace Chu and John Knox, who are recruited by a company called Rutherford Risk to save a Chinese national and his security agent when they are snatched from the streets of Shanghai.
Vince also recently acquired the rights to Randall Wallace's "Gunslingers" and will next appear in alien invasion film "The Watch" with Jonah Hill.
He is also due to reunite with actor Owen Wilson in forthcoming comedy film "Interns".
