Vietnam-based representative office of a foreign investor means a dependent unit, a lawful office in Vietnam, allowed to recruit staff to manage and promote sale contracts with local business partners, research and develop products, seeking opportunities for the purchase or sale of goods and provision of services. A foreign representative office is a simple form of investment in Vietnam to enhance business from overseas, with multiple advantages while fewer risks regarding the required business compliance procedures such as investment capital, tax, accounting, and auditing. And it is easy to be extended or terminated or dissolved. The expatriate employees who work for representative office can obtain work permit and two years multiple visa (temporary residence card) for themselves and their family in Vietnam.
Your office license shall be adjusted, re-grant, extend in some cases properly and on time. Fail to adjust the license in line with the local laws and regulations may lead to serious violations and penalties which may impact to your operation history.
FOREIGN REPRESENTATIVE OFFICES SHALL APPLY FOR ADJUSTMENTS TO OFFICE LICENSE IN THE FOLLOWING CASES:
- Changes in the name or location of the head office of a representative office.
- Replacement of the head of the representative office or personal information of the head of the representative office in the office license.
- Changes in the name of the representative office.
- Changes in the operations of the representative office.
- Change in the location of the representative office.
YOU SHALL APPLY FOR RE-GRANT OF THE OFFICE LICENSE FOR ESTABLISHMENT OF BRANCHES OR REPRESENTATIVE OFFICES IN THE FOLLOWING CASES:
- If your representative office relocates to another province or territory within the administration of another Management Board.
- If The Licenses for Establishment of the branch or representative office is lost, damaged or destroyed in any form or shape.
CASES ELIGIBLE FOR EXTENSION OF OFFICE LICENSE FOR REPRESENTATIVE OFFICES:
Every foreign representative office other than those revocation cases shall be eligible for the grant of extension of the license or establishment of the representative office or branch.
There are many reasons may prevent you to adjust the license properly, and you should prepare in advance and take time to prepare for the papers and dossiers for the adjustments. Expertise can identify every legal requirement/manage for the full procedures/representative of you for any query or requirement from the competent state agencies… Your office license will be updated, adjusted in smooth and efficient manner:
- Prepare required papers according to our checklist.
- Sign and stamp the dossiers.
- Wait and receive successful result from us within 15 days.
One of the most simple and effective option to manage the compliance requirement for your office license that you can appoint VIVA BCS become your only person in charge, include managing the required procedures, deadline, dossiers, representative on behalf for any requirement or question from the competent state agencies.
ABOUT VIVA BUSINESS CONSULTING
VIVA is the local expertise for local business compliance procedures, has been trusted by thousands of foreign investors, multinational companies from Europe, Japan, Singapore, India, Korea, USA… for the required business compliance procedures by local laws and regulations since 2006.
Thanks for consistent of practice expertise in Business laws - Employment relations – Tax and accounting – Corporate finance – Corporate services, VIVA has been successfully providing service for thousands of leading companies in such industries: Garment, energy, pharma, advertising, agricultural…
VIVA keeps its signature by offering one-stop business platform with regard to market entry and the mandatory business compliances. We ensure for our client’s good standing, in lawful and optimal manners whenever they are working and doing business in Vietnam.
- Cases of adjustments to licenses for establishment
- Cases of adjustments to the office license
- Cases of re-grant of licenses for establishment
- The effective period of foreign representative office license in Vietnam
- Conditions for being granted licenses to set up representative offices in Vietnam
- Grant licenses to set up representative offices in Vietnam for foreign insurance brokers
- Extending representative offices license – what you need to know
- Compliance procedures for license of foreign representative office in Vietnam