20 Jul Invesment In Vietnam | Setting Up Representative Office | Conditions and Required Papers
It is not so complicated to grant a license for establishment of representative offices in Vietnam. Anyway, it is better if you can verify exactly conditions and required papers upon local regulations in advance, there also some special cases or loopholes that you should avoid at very first time.
How to prepare the required papers? Here are the basic items that will be useful for you before establishment Vietnam-based representative office:
CONDITIONS THAT A FOREIGN INVESTOR CAN ESTABLISHMENT REPRESENTATIVE OFFICE IN VIETNAM
- The foreign investor 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 investor 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 more 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 investor 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 have given approval for establishment of the representative office.
Group 01 of three: Papers from headquarters
- Copies of the Certificate of Business Registration or equivalent documents of the foreign investor.
- A letter of appointment of the head of the representative office.
- Copies of audited financial statements or certificates of completion of tax liabilities or financial obligations of the last fiscal year or equivalent documents as proof of existence and operation of the foreign trader issued or certified by competent authorities where such foreign investor is established.
All the required papers above should be certified or by overseas diplomatic missions or Consulates of Vietnam under laws of Vietnam.
Group 02 of 3: Papers from local agencies
- Copies of the passport or ID card (for Vietnamese) or copies of the passport (for foreigners) of the head of the representative office.
- Documents on the expected location of the representative office including:
- Copies of memorandum of understanding (MOU) or leasing agreements or documents as proof of the right to use a location as the representative office.
- Copies of documents on the expected location of the representative office in accordance with related laws.
- Translated documents in Vietnamese and certified true for any papers from overseas.
- An application form for License for Establishment of the representative office using the form promulgated by the Ministry of Industry and Trade and signed by a competent representative of the foreign investor.
- Proper papers and documents of group 1 and group 2 above.
The foreign investor shall submit the application to the licensing agency where the representative office is expected to be located. Within 03 working days from the date of receipt of the application, the licensing agency shall examine such application and request the applicant to complete the application (if the application is incomplete). The request for supplementation to the application shall be made only once during the processing of such application.
The licensing agency shall send the applicant a written notification of whether the license or establishment of the representative office is granted or not within 07 working days from the date of receipt of the valid application. In case of rejection, the licensing agency shall send the applicant a written notice in which reasons for rejections shall be specified.
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