ESTABLISHING REPRESENTATIVE OFFICES OF FOREIGN COMPANIES IN VIETNAM
1. PROCEDURES FOR ESTABLISHING REPRESENTATIVE OFFICES IN VIETNAM
1.1 OPERATION CONTENT OF REPRESENTATIVE OFFICE
Foreign traders may set up representative offices in Vietnam to carry out the following activities:
– Perform the function of liaison office, market research.
– Promoting the business opportunities of traders they represent.
– Other activities permitted by Vietnamese law.
It should be noted that according to Vietnamese law, representative offices are not allowed to provide services for profit purposes on behalf of representative offices in Vietnam.
1.2. CONDITIONS FOR GRANTING PERMITS FOR ESTABLISHING REPRESENTATIVE OFFICES
A foreign trader is granted a license to establish a branch in Vietnam when the following conditions are met:
– Foreign individuals established or registered under the provisions of national laws and / or territories, which are parties to treaties to which Vietnam is a contracting party or which are legally recognized by the laws of such countries or territories. receive;
– Foreign traders have been operating for at least 01 year since the date of establishment or registration;
– In cases where the business registration certificate or equivalent paper of the foreign trader specifies the duration of operation, such period must be at least one year from the date of submission of the dossier;
– The operation contents of the representative office must be compatible with Vietnam’s commitments in treaties to which Vietnam is a contracting party;
– Where the contents of the representative office are inconsistent with Vietnam’s commitments or foreign traders not belonging to countries or territories participating in treaties to which Vietnam is a contracting party, the establishment thereof Representative offices must be approved by ministers or heads of ministerial-level specialized management agencies.
1.3 DURATION OF PERMITS FOR ESTABLISHING REPRESENTATIVE OFFICES
The permit for the establishment of a representative office in Vietnam of a foreign trader shall be valid for 5 years but shall not exceed the remaining duration of the business registration certificate or equivalent paper of the foreign trader. The foreign business law stipulates the duration of the business registration certificate of the foreign trader. Permits can be extended several times.
1.4. SOME CONDITIONS OF REPRESENTATIVE OFFICES AND OWNERS
In addition, Representative Offices and Heads of Representative Offices shall have the rights and obligations stipulated in the Commercial Law and the following provisions:
– Representative offices are not allowed to act as representatives of other traders; Not to lend or sublease the head office of the representative office.
– The head of the representative office of a foreign trader must not concurrently hold the following positions:
– The head of the branch of the same foreign trader in Vietnam;
– The head of a branch of another foreign trader in Vietnam;
– The representative at law of such foreign trader or other foreign trader;
– The legal representative of the economic organization established under the provisions of Vietnamese law.
– In cases where the head of a representative office is authorized by the foreign trader to enter into a contract, amend or supplement the contract already signed, the foreign trader shall have to authorize in writing each time. To sign contracts, amend and supplement the signed contracts.
SCOPE OF WORK
Regarding the establishment of a representative office in Vietnam, our scope of services includes:
|Describe the scope of the service|
|1. Preparation of documents in the application file:
· Notifying clients of necessary documents in accordance with Vietnamese law;
· Draft documents in the application file in English;
|· Completing the application file on the basis of comments from the competent authority;
· Translate the documents into Vietnamese for signing.
|2. Licensing procedures:
· Submit the application to the competent authority;
Monitor the records in the process of obtaining approval from the competent authority;
· Updates to customers about the process as well as additional requests, if any
Roadmap for Implementation The scope of work is as follows:
Documentation: We plan to complete this work for each application within three working days. The completed dossier will be sent to the customer and stamped.
Submit the application file to the relevant authorities: Within 02 working days from the date of receipt of the signed and stamped file, we will submit the file.
Time: After 15 – 20 working days from the date of submission of valid dossiers, customers will receive License for establishment of representative office.
d. Post-Licensing Procedures: Within 15 – 20 working days from the date of receiving the Representative Office License, we will complete post-licensing procedures such as posting of establishment, registration Tax code of representative office, seal sample and notice of operation of the representative office.
For more information about the services related to the establishment of a foreign company representative office in Vietnam, please contact us at email@example.com, or visit our website at siglaw.vn.