HOW FOREIGN TRADERS OPEN A REPRESENTATIVE OFFICE IN VIETNAM? - OTIS LAWYERS

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In the current open market economy conditions, Vietnam participates in many world economic organizations. Therefore, at present, Vietnam is also opening its doors and creating favorable conditions for foreign investment organizations to have the invest opportunity. When there is a need for investment and business expansion, foreign enterprises will establish FDI enterprises or open representative office in Vietnam. So how does the law regulate this issue, let's find out with OTIS LAWYERS in the article below.

CONDITIONS FOR OPENING A REPRESENTATIVE OFFICE OF FOREIGN COMPANY IN VIETNAM 

Foreign individuals and organizations shall be granted by Vietnamese law a license for establishment of a representative office, must comply with the conditions specified in Article 7, Chapter 2, Decree 07/2016/ND- CP are as follows:

  • The foreign trader is incorporated and registers for doing business in accordance with provisions of laws of countries or territories being parties to treaties to which Vietnam is a signatory or is recognized by the aforesaid countries or territories;
  • The foreign trader has come into operation for at least 01 year from the date of establishment or registration;
  • The Certificate of Business Registration or the equivalent document is valid for at least 01 year from the date of submission of the application;
  • The scope of operation of the representative office is consistent with that in Vietnam’s Commitments to treaties to which Vietnam is a signatory;
  • Where the scope of operation of the representative office is inconsistent with Vietnam’s Commitments or the foreign trader is not located in the country or territory being party to treaties to which Vietnam is a signatory, the representative office can be established only if relevant Ministers, Heads of ministerial agencies (hereinafter referred to as “relevant Ministers”) have given approval for establishment of the representative office. 

DOSSIER FOR ESTABLISHMENT OF REPRESENTATIVE OFFICE IN VIETNAM

  • An application form for the establishment of a representative office of a foreign company in Vietnam;
  • A copy of consular legalization and notarized translation of the enterprise registration certificate or equivalent document of the foreign trader certified by the competent authority where the foreign company is established;
  • A document appointing the head of the representative office of the foreign company;
  • A 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 or certified and proved the existence and operation of the foreign trader in the latest fiscal year by a competent agency or organization where the foreign trader is established
  • A notarized translation of passport or identity card or citizen identification card (if Vietnamese) or passport copy (if foreigner) of the head of the representative office;
  • A document of proposed location for the representative office

ORDER, PROCEDURES FOR ESTABLISHMENT OF REPRESENTATIVE OFFICE IN VIETNAM

       Foreign traders desiring to establish representative offices or branches in Vietnam need to comply the following order and procedures:

Step 1: Prepare documents and dossiers

       02 copies of ID card/Citizen identity card/Passport notarized copy not later than 03 months of the head of the representative office (representative office director).

Step 2: Prepare information to open representative office in Vietnam

  • Name and address of the head office of the enterprise
  • Name of the representative office intended to be established (the name of the representative office must include the name of the enterprise and the phrase "representative office" for registration of establishment of a representative office)
  • The intended address of the representative office.
  • Business lines of the representative office

Step 3: Draft a license application for opening a representative office in Vietnam

       The component of the application includes the documents mentioned in section 2 above.

Step 4: Submit a license application for opening a representative office at the enterprise registration agency and wait for the results

Foreign traders can submit dossiers directly or by post or online (if eligible) to the licensing agency:

  • In case the representative office is located outside the industrial zone, export processing zone, economic zone, high-tech zone, the foreign trader will send the application to the Department of Industry and Trade of the provinces where the trader intends to locate. headquarters.
  • In case the Representative Office is located in an industrial zone, export processing zone, economic zone or high-tech zone, the foreign trader will send the application to the Management Board of industrial zone, export processing zone, economic zone, and technology zone.

After that, the licensing agency will examine the application and issue a License if the application is valid.

Vietnam representative office opening service of OTIS LAWYERS

       OTIS LAWYERS is always proud to be a professional unit in the field of consultation to establish representative offices of foreign traders in Vietnam. With a team of highly qualified and extensively experienced lawyers. Along with the dedication to clients, we believe in providing investors with the best and the most professional services, also reasonable cost and fastest time to complete the procedure. We guarantee that all client information is strictly confidential. And client interests always come first. 

For any questions or comments, please contact:

Office address: K28 - Group K, Lane 68 Trung Kinh, Yen Hoa Ward, Cau Giay District, Hanoi

Email: info@otislawyers.vn

Hotline: 0987748111 Website: https://otislawyers.vn/

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