1. Conditions for Establishment of Representative Office for Foreign Company
According to the provisions of Article 7 of Decree 07/2016/ND-CP, foreign traders/foreign enterprises that want to establish a representative office in Vietnam need to meet the following conditions:
1.1 Legal Recognition and International Treaty Membership
The foreign company has been established and registered for business in accordance with the laws of a country that is a party to an international treaty to which Vietnam is a member or recognized by the laws of these countries.
1.2 Minimum Operating Experience in the Host Country
Having operated in the host country for at least 01 year from the date of establishment or registration.
1.3 Compliance with Foreign Business Registration Duration
In case the foreign business registration certificate stipulates the operation term, the duration of such license must be at least 01 year from the date of filing in Vietnam.
Dossier to establish a representative office of a foreign company in Vietnam
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1.4 Activities of Representative Offices: market research, trade promotion in Vietnam.
In case the operation contents of a representative office are inconsistent with Vietnam’s commitments or the foreign trader is not a member of a country or territory participating in an international treaty to which Vietnam is a contracting party, the establishment of a representative office shall be conducted. Representative offices – rep office vietnam must be approved by ministers or heads of ministerial-level agencies in charge of specialized management (hereinafter referred to as the Minister of specialized management).
2. Documents and Procedures for Establishment of Branch Office for Foreign Company
Pursuant to Article 10 of Decree No. 07/2016/ND-CP, a dossier of establishment of a representative office of a foreign company in Vietnam includes:
- An application form for a license to establish a representative office in Vietnam or branch office in vietnam by a foreign company.
- A copy of consular legalization and notarized translation of a business registration certificate or an equivalent document of a foreign trader.
- The document appointing/appointing the head of the rep office vietnam of the foreign company.
- Notarized translation of the audited financial statement or a written certification of the fulfillment of tax or financial obligations in the latest fiscal year or a document of equivalent value issued by a competent agency or organization where the foreign trader is established grants or certifies and proves the existence and operation of the foreign trader in the latest fiscal year.
- Copy of passport/ID card/citizen identification card (if Vietnamese) or notarized translation copy of passport (if foreigner) of the head of the Representative office in Vietnam.
- Contract to lease/borrow an office address in Vietnam, accompanied by a photocopy of the red book (for real estate) and documents proving the address with the function of office leasing such as: a copy of the Investment License/license construction (for office buildings), a copy of the Certificate of eligibility for fire prevention and fighting.
Establish representative office in Vietnam
3. Outstanding advantages of procedures for foreign investors to contribute capital and buy shares in Vietnamese companies
Procedures for foreign investors to contribute capital and purchase shares of Vietnamese companies have a number of advantages over the establishment of foreign-invested companies in the form of investors contributing capital from the beginning:
- Foreign-invested companies do not have to carry out procedures for issuance of Investment Certificates, minimizing complicated procedures when it is necessary to change business registration contents.
- Legal change procedures have also become simpler.
- The Company does not need to carry out procedures to update investment information on the investment management system.
- Procedures for proving financial capacity are made simpler and more concise.
4. How many steps are involved in the procedure for establishing a foreign representative office?
There are 3 steps:
- Step 1. Carry out procedures to apply for a license to Establish representative office in Vietnam for a foreign company.
- Step 2. Carry out the procedures for registration of seal and seal sample certificate for the representative office of the foreign company at the police office.
- Step 3. Register and complete the procedure for issuing Tax Identification Number Notice to Representative Office of foreign company.
5. Where to apply for a representative office establishment license?
- Competent authority: Department of Industry and Trade of the province or city where the representative office of the foreign company is located.
- Agency receiving and processing dossiers: Department of Industry and Trade of the province or city where the representative office of the foreign company is located.
Time limit for application processing is 15-20 working days from the date of receiving the application.
The above is detailed information about the service of establishing a representative office for a foreign company in Vietnam, if you have questions or need help with Establish representative office in Vietnam, you can contact S4B
SMART SOLUTION FOR BUSINESS COMPANY LIMITED
- Address: Unit 602A, Tower A, Handi Resco Office Building. 521 Kim Ma Street, Ba Dinh
District, Hanoi - Tel: + 84 24 3974 4181
- Email: service@s4b.com.vn
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