Conditions for foreign enterprises to set up representative offices in Vietnam
Are you a foreign business? You are looking for legal procedures to set up a representative office in Vietnam, but you do not understand how to meet the requirements of the law. Please contact us immediately, Nguyen An Law will advise you on the legal requirements before investing in Vietnam.
I. Conditions for grant of a representative office establishment permit:
- Foreign traders (foreign companies) may set up their representative offices in Vietnam according to Vietnam’s commitments in treaties to which Vietnam is a contracting party.
- Foreign traders have been operating for at least one year since the date of establishment or registration
- The operation contents of representative offices must comply with Vietnam’s commitments in treaties to which Vietnam is a contracting party.
- A foreign trader must not be established more than one representative office or branch with the same name within a province or centrally-run city.
- The head of the representative office must authorize in writing other persons to exercise the rights and obligations of the head of the representative office at law when leaving Vietnam. This authorization must be approved by the foreign trader. The head of the representative office shall still be responsible for exercising the authorized rights and obligations.
- The head of the representative office of a foreign trader must not concurrently hold the following positions:
a / The head of a branch of the same foreign trader;
b) The head of the branch of another foreign trader;
c / The representative at law of such foreign trader or another foreign trader;
d) The legal representative of the economic organization established under the provisions of Vietnamese law
Thus, if the enterprise – Foreign investors meet the above conditions, it is possible to set up Representative Office to invest in Vietnam.
II. Rights and obligations of the representative office:
Rights of Representative Offices:
- To operate for the purpose, scope and duration specified in the representative office establishment permit.
- Leasing offices, renting and purchasing necessary means and items for operation of representative offices.
- To recruit Vietnamese and foreign laborers to work at representative offices according to the provisions of Vietnamese law.
- Opening accounts in foreign currencies or in Vietnam dong of foreign-currency origin at banks licensed to operate in Vietnam and may use such accounts only in operation of representative offices.
- Having a seal bearing the name of the representative office in accordance with the provisions of Vietnamese law.
- Other rights as prescribed by law.
Obligations of the Representative Office:
- Not to conduct direct profit-making activities in Vietnam.
- Only trade promotion activities shall be permitted to the extent permitted by this Law.
- Not to enter into contracts, to amend or supplement contracts signed by foreign traders, except for cases where the heads of representative offices have the lawful authorization of foreign traders or prescribed cases Clause 2, 3 and 4, Article 17 of this Law.
- Pay taxes, fees and charges and fulfill other financial obligations in accordance with the law of Vietnam.
- Report on the operation of the representative office according to the provisions of Vietnamese law.
- Other obligations as prescribed by law.
Before the foreign investor decides to invest in Vietnam in the form of representative office, attention should be paid in Section II of the Rights and Obligations of the Representative Office. Avoiding acts of violating the law will be subject to administrative sanctions as prescribed.
III. Foreign investors contact us through the following forms:
- Directly to the Nguyen An Law Office
Address: 20 Truong Sa Street, Ward 17, Binh Thanh Dist, Ho Chi Minh City (car park)
- Hotline: (+8428) 3514 0777 – (+84) 936 234 077 – (+84) 977 433 877 (Zalo; Viber)
- Online support at website: http://nguyenanluat.vn/
- Email address: Tuvan@nguyenanluat.vn (English and Vietnamese)
IV. Fees and time:
+ An all-in price is 7.500.000VNĐ (equivalent 329$ USA at the moment November 5, 2017) includes:
- State fees
- Tax records (Office, leader)
- License: from 15 to 20 working days
- Tax records: about 5 working days
Note: All documents filed with the licensing agency are prepared by Nguyen An Law Office and on behalf of the customer complete the procedures at the licensing agency. Fees and time do not incur, we are committed to only charge service fees in accordance with the price list above.
V. Assist the investor when completing the procedures:
After completing the procedures, we will appoint a team of lawyers – specialists to guide investors in procedures for labor, social insurance, tax declaration, financial statements periodically declared. . Avoid unnecessary violations in the course of operation.
VI. Investor support services to promote the profile:
- Translation of relevant documents
- Duplication and authentication documents
- Legalize the file at the Department of Foreign Affairs
- Notarization of relevant documents at the Justice Department
Please call Nguyen An Law Office if you believe in us