How to set up a branch office in Ho Chi Minh City, Vietnam
A foreign company operating in Vietnam can operate as a branch without establishing a legal entity. In general, however, branches are not a common form of foreign investment as only a small number of organizations are allowed to do so.
In fact, apart from the culture, education, tourism, banking, tobacco, legal and aviation industries, few branches have been established in Vietnam.
Foreign companies can set up branches in Vietnam with prior approval from the government. The conditions for obtaining a branch license are very simple. Generally, a foreign company is granted a branch license if it meets the following conditions:
Conditions for granting a branch license
Possess a legal certificate of corporate registration in accordance with the laws of the applicant's country.
More than 5 years have passed since the company was registered.
Applications must be submitted with MoIT (Ministry of Industry and Trade) approval. The eligibility criteria and procedural guidelines for setting up a branch office by a foreign-invested company in Vietnam should be consulted. A branch license is valid for five years from the date of license and is renewable.
How to set up a representative office in Ho Chi Minh City, Vietnam
A representative office is not an independent legal entity and cannot carry out direct business activities involving the execution of contracts, the receipt of funds, the sale and purchase of goods or the provision of services.
A representative office is commonly used as a research stage for foreign companies looking to enter Vietnam. Although not permitted to engage in direct revenue-generating activities, representative offices provide a wide range of ancillary information to headquarters based outside Vietnam.
Procedures for establishing a representative office
Obtaining a license
Submission of representative income tax documents and employment declaration
Get an operating license.
Obtaining the seal of the representative office
The application documents for the Vietnam Representative Office license must be submitted to the Ministry of Industry and Trade. A renewable representative office license, valid for up to five years, will be issued within 15 working days of receipt of the application. However, you may be required to make corrections or additions to the application form as necessary.
Activities Permitted for Representative Offices
Liaison work (coordination work) to manage the business environment
Investigating opportunities and partners for trade and investment
Supervising and supporting the performance of contracts signed between the head office and our partners in Vietnam
Supervision and instruction of project implementation in Vietnam on behalf of the head office
How to establish a Vietnamese subsidiary (limited liability, joint venture, stock)
In the previous column, we also explained about local corporations in Vietnam: limited liability corporations, joint-stock companies, and joint-stock companies. If you don't mind, please refer to it.
Investment in Vietnam is Ho Chi Minh Suzuki Real Estate
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