According to 2014 Investment Law, an establishment of foreign invested company in Vietnam must be proceeded with the steps as follows:…
Establish Representative Office in Vietnam
Overseas enterprises having demand of market exploration and trade promotion in Vietnam should establish their representative offices. To facilitate establishing representative office of overseas enterprises in Vietnam, InvestOne law firm hereby provides detailed procedures and documents in need of preparation thereof as below:
1. Procedures on establishing representative office of overseas business in Vietnam
License of Representative Office Establishment in Vietnam (License) is issued only when meeting following conditions:
– Being the businessman announced legal by the country where the businessman incorporates the business;
– Having operated for not less than 01 year since the start of legal operation or business registration.
2. Documents for establishing representative office of overseas business in Vietnam
(1) Application for establishing representative office of overseas business in Vietnam;
(2) Copy of Business Registration Certificate or equivalent certificate of the foreign business confirmed by the competent authority where the overseas business is incorporated;
(3) Audited financial statement or other equivalent document proving practical existence and operation of the overseas business (businessman) in the latest financial year;
(4) Copy of Charter if the overseas business is economic organization., (Bizfile for Singaporean foreign business);
(5) Copy of passport or ID Card of the head of the representative office;
(6) Contract of premises rental to set up representative office of overseas business in Vietnam.
Note: Documents issued or certified by overseas authorities should be legalized by the Vietnam’s consular agency, the copies and translations thereof should be notarized.
3. Cases of no permit for establishing representative office of overseas business in Vietnam
The License will not be issued in following cases:
(1) Businessman does not meet the said conditions.
(2) Businessman only trades in items included in the list of prohibited products and services stipulated by Vietnamese laws.
(3) Businessman applies for the License within 02 years since revocation of that License.
(4) It is proved that establishment of the representative office will harm national defense, security, order, safety of society, historical, cultural tradition, ethics and custom of Vietnam as well as health of people, natural resources and environment.
(5) Documents are not appropriate and no addition is made as required by the competent agencies.
4. Public announcement of representative office of overseas business in Vietnam
– Within 45 days of the License, following contents should be posted on three consecutive articles of the stipulated printed or electronic newspaper:
– Within forty five (45) days since the date of the License, the representative office should officially come into operation and report to the Department of Industry and Commerce on its operation at the head office as registered.
Documents for public announcement of representative office of overseas business in Vietnam include:
– Operation notice by form (02 copies in Vietnamese)
– Receipt issued by the printed newspapers agency or electronic portal detailing announcement of the Representative Office or other documentation of announcement;
– Copy of seal pattern certificate of the Representative Office issued by the Public Security Agency;
– Copy of bank account certificate of the Representative Office issued by a legal Bank in Vietnam;
– Copies of other documents, consisting of: Labour Contract, Curriculum Vitae of employees working at the Representative Office.