05 Dec Tips On Representative Office License Extension
Every representative office operating in Vietnam needs to pay close attention to the expiry date mentioned in the license of establishment. License extension is very important. Fail to extend the license on time means you are operating without license, which is risky because of serious penalties and fines from the authorities and the business will be named in the blacklist of the state agencies.
TIPS ON REPRESENTATIVE OFFICE LICENSE EXTENSION
There are many reasons may prevent you from extending the license properly, and you should prepare for at least 03 months before the deadline. It would take time to get all necessary dossiers done for the license extension. Moreover, the authority will audit your previous operations, tax declaration and settlement as well as other conditions before deciding if your office license will be extended or not. The period of new license will be valid for 1 to 5 years, depending on the reasonable of submitted application and records.
TO AVOID AND PREVENT RISKS COULD HAPPEN RELATING
According to Clause 4, Article 86, Decree 185/2013:
The representative office of foreign traders may lead to a fine up to 30 million – 50 million VND for one of the following violations:
- Continue to operate after the foreign traders have terminated their operation;
- Continue to operate after competent authorities have revoked the license of establishment or the license is expired or not being extended.
Moreover, failure to extend license on time may affect the future office license renewal and other procedures, as well as require supplementary reports.
Our practical experiences can identify every legal requirement / manage for the full procedures / representative of you for any query or requirement from the officers… Your new office license will be obtained in a smooth and efficient manner with 3 key steps:
- Prepare 08 kinds of papers according to our checklist
- Just sign and stamp the prepared dossiers
- Wait and receive successful result from us within 30 days
Besides the new office license, representative offices should consider getting renewal of work permit, temporary resident card and taxation for expat staffs and their relatives. These costs can be saved when it is managed to sort out at the same time.
VIVA has been an in-depth consultant on business compliance procedures in Vietnam since 2006, based on our professional - integrated background in Business laws - Accounting and corporate finance - Tax management - Labor relation and payroll – Business administration procedures. VIVA offers exclusive services in an integrated tailor-made, consist of 5 specialized-expertise platforms and the inheritance experience up to hundreds of years for every job. Our extensive expertise and management system that facilitates us to connect local resources and be ready to deliver exclusive solutions that exceed all standard limits and satisfy all expectations of our clients.
Last Updated on April 2, 2021