In vietnam, there are many choice for foreign-trader to conduct their trade activities that not necessary to establish a new entity such as Representative Office (R.O) or Branch.
What is R.O according to Vietnam Commercial Law?
Basic concept of R.O is provided by Vietnam Commercial Law (the Law) which is represent for foreign-trader in Vietnam. R.O is entitled to conduct market survey and permitted commercial promotions. Meanwhile, neither any trade activities that generate profit directly nor entering, amendment, supplement of contract is allowed. The contract just be entered, amended or supplied once Chief of R.O have authorization from the foreign-trader or in case of entering contract which cater for hiring employee and headquarter. Representative office is not required to pay tax, except personal income tax.
Range of work that R.O allowed to conduct in Vietnam.
+ Contact foreign-trader
+ Promote co-operated projects in Vietnam
+ Research market for promoting opportunities of sale of goods, providing services.
+ Supervise the perfomance of signed contract.
How to open a R.O in Vietnam?
First of all, foreign-trader that intend to set up a R.O in Vietnam have to prepare required dossier for applying to Department of Industry and Trade where located R.O. Required documents:
– Application for License for establishment of Representative Office
– Certified copy of Business License
– Audited financial report in the last finacial year
– Certified copy of Company’s charter
– Copied Identification Card or Passport of Chief of Representative Office
– Copy of Hiring headquarter contract
– Power of Attorney
After legilimate dossier was submitted, the Department expertise and grant License of establisment R.O in Vietnam within 15 days.
Term of license
The License is valid in 5 years and renewable. In case of renewing the License, the trader have to submit a renewal dossier to the Department at least 30 days prior to the due date.
– Providing advice prior to submitting the dossier for opening representative office in Vietnam
– Preparing the required documents
– Translating the documents into Vietnamese and then notarizing them
– Submitting the dossier for opening representative office in Vietnam. Then, work with Vietnam authority to ensure that the license shall be issued punctually.
– Guiding clients to complete the required procedures after being issued the license.
– Supporting clients during their business operation in Vietnam.
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