Establishment Of Representative Offices For Foreign Traders In Vietnam

Your business is a foreign company expanding its operations to new markets to promote its company representative office in Vietnam but is worried about legal issues. The article below, Van Law, would like to send to you to read about the conditions, dossiers, and orders for establishing a representative office of a foreign company in Vietnam.

The representative office of foreign traders in Vietnam is a dependent unit established following Vietnamese law in several markets. It carries out several trade promotion activities permitted by Vietnamese law.

The procedure of opening a representative office of a foreign company

A foreign trader submits a set of documents to the licensing agency. Can be submitted in person, by post or online.

Step 2: Register the seal form with the competent authority managing the mark sample.

Step 3: Register for a tax identification number

What conditions should be met to establish an external trader’s local office in Vietnam?

Foreign traders wishing to establish representative offices in Vietnam must meet the following conditions:

-Foreign traders shall be established and follow the laws of the countries and territories participating in international treaties of which Vietnam is a member or recognized by the laws of these countries and regions.

-Foreign traders who have been operating for at least one year from the date of establishment or registration

Suppose the business registration paper or papers of equivalent value to the foreign trader have stipulated the duration of the operation. In that case, the time limit must be at least one year from the date of submission of the application.

The content of the representative office’s activities must align with Vietnam’s commitments to international treaties. Vietnam is a member of

-In case the contents of the activities are inconsistent with the commitments of Vietnam or foreign traders who are not part of the country or territory participating in the international treaties to which Vietnam is a member, the establishment of the representative office must be approved by the Minister of Specialized Management.

What documents should be prepared to be granted a representative office license for foreign traders in Vietnam?

Application for a permit to establish a representative office according to form MD1 Circular 11/2016/TT-BCT

copies of business registration papers or papers of equivalent value of foreign traders, which must be translated into Vietnamese and certified according to the law.

-Documents of foreign traders appointing/appointing the head of the representative office must be translated into Vietnamese and certified following the following: The following: Copies of audited financial statements or documents confirming the performance of tax or financial obligations in the most recent fiscal year or papers of equivalent value issued or certified by competent agencies or organizations where foreign traders are established or certified must be translated into Vietnamese and approved by the head of the representative office must be translated into Vietnamese and certified in accordance with the provisions following -Documents on the expected location of the representative office include:

A copy of the minutes of the agreement on the lease of the place or a copy of documents proving that the trader has the right to exploit and use the place to locate the representative office;

+citef documents on the expected location of the usual office headquarters

Note: For copies of business registration certificates of foreign traders, they must be certified or consular legalized by diplomatic missions or consular offices of Vietnam following Vietnamese law.

Time for Opening Representative Offices of Foreign Companies

The duration of implementation is 7–10 working days, of which

Within three working days from the date of receipt of sufficient dossiers, if the dossier is incomplete, the valid licensing agency will require additional amendments.

Within seven working days from the date of receipt of the complete dossier, the licensing authority will decide whether to grant or not to issue a license.

-In the event of having to seek comments, the licensing agency shall send a written request to the specialized management ministry within 3 days from the date of receipt of the complete dossier. Within three weeks, the church must give an opinion. Within 05 days from the date of receipt of the notice, the licensing agency shall issue or not issue a license to establish an office representing foreign traders.

Does the authority issue a representative office license to a foreign company?

-Departments of industry and trade of provinces and centrally-run cities where traders are expected to be located are representative offices.

-Management boards of industrial parks, export processing zones and hi-tech parks shall issue licenses to establish representative offices based in industrial parks, export processing zones, economic zones, and hi-tech parks.

How long does the license to establish a representative office last?

The license to establish a representative office has a term of five years. If the business registration certificate or legal papers of the foreign trader have provisions on the duration, the duration of the license for the establishment of the representative office shall not exceed the remaining time limit stated in the business registration paper.