Procedure of setting up the representative offices in Vietnam

representative office

Vietnam is one of the best attractive foreign investment market. Establishment an representative office in Vietnam is considered as the top prior decisions of many foreign enterprises for the purpose of penetrating and widen their market.

According to Fitch - an international credit rating, Vietnam is ranked as one of the most favorable countries with medium-term potential growth in Asia. With the advantage of a 90-million-people market with the developing and intergarting economy, the capital source of foreign direct investment into Vietnam has increased 4 times in the last decade, the current is more than $8 billion.

 

 

 

 

Moreover, Vietnam has signed and acceded many free-trade agreements,Transfer Pacific Partnership Agreement (TPP) and the upcoming ASEAN Economic Community (AEC) that also open lots of  potential growth oppotunities . Therefore, establishing a company or an representative office in Vietnam has been concerned by many foreign investors.

The following article of ExportHelp Asia will give somes advises and related documents for the firms intending to establish representative office in Vietnam.

establishing-the-representative-offices-in-vietnam 

 I. LEGAL BASIC

 

 

  Commerce Law 2005

  Decree No.72 on representative offices and branches of foreign business entities in Vietnam

II. THE PARENT COMPANY

 

 

 

The Parent company is in Singapore 

III. OBJECTIVE

 

 

 

Setting up the Representative Offices of foreign companies in Vietnam.

IV. REQUIRED DOCUMENTS

 

procedure 

V. SCOPE OF WORK TO BE PERFORMED BY GLOBAL LINKS ASIA CO.LTD

 

 

 

  • To advise all related matters;
  • To prepare all required documents for set up the Representative Office in Vietnam;
  • To submit the required documents to the Licensing Authority;
  • To follow up and obtain the legal documents (Licensing, Seal, Report on operation of Rep.Office, Tax Code, Declaration for personal income tax...) in accordance with provision of Vietnam Law.

VI. TIME SCHEDULE

 

 

 

  • For preparing the necessary application documents: from 03 to 05 working days (depending on the availability of information/ documents from your Company);
  • The term for license granting process: maximum 50 working days from the date of submission of the sufficient documents to the relevant governmental authorities.
  • Register Tax Code and Seal of the foreign company: within about 10 working days.

 VII. CONSULTANCY & SERVICE FEES

 

 

In consideration of the services to be provided as stated in Section (5) above, we would propose a service fee as follows:

  • Received the Licensing of Rep Office
  • Do the seal of the domestic company – Free of charge
  • Report on operation of Rep Office - Free of charge
  • Register Tax Code of company at Tax Department – Free of charge

The fee is exclusive of 10% VAT and Translate fee, to be made in the following schedule:

  • 50% of the fees shall be paid upon your Company's confirmation of this proposal;
  • The balance 50% of the fees shall be paid upon obtaining of The Licensing, Tax Code and a Seal.

To get the right advise from our professional consultants, do not hesitate to contact:

EXPORTHELP ASIA

Viet Nam office: 151 Dao Duy Anh st., Phu Nhuan dist., Ho Chi Minh city, Viet Nam

Singapore office: 316 Tanglin Road, Block 316, Singapore

Hot line: (+84) 938.53.15.88/ (+65) 83551210

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

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INCORPORATION IN VIETNAM

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  • Hot line: (+84) 938.53.15.88/ (+65) 83551210