REQUIRED COMPLIANCES FOR A FOREIGN REPRESENTATIVE OFFICE IN VIETNAM – WHAT YOU NEED TO KNOW

(Last Updated On: November 15, 2021)

THE MANDATORY COMPLIANCE PROCEDURES ON OFFICE OPERATIONS

After the establishment procedures completed, you can operate the office with allowed activities and shall be proper complied with local reguations on tax, accounting, employment relations, commerce…

Based on local laws and regulations, to manage the mandatory compliance procedures of your representative office in Vietnam from 2021, we would like to offer our outstanding service package – one stop solution for your Office in Vietnam with scopes as follows:

The general required compliance procedures:

  1. Business record management: Standard folders |Daily records | Scan in to solf files | Records completion…
  2. Manage the labor relations: Employee profile | Labor contract | Payrolls | Compulsory insurances  | PIT
  3. Tax managemet and Accounting: Bank statements | Cashbook | Petty cash | Complete the reports and risk management
  4. Expat management: Employee profile | WP | TRC | PIT 
  5. Office license and other secretary services: Office license | Electronic signature | Amending and adjusting the license | contracts | documentations…

Some typical tasks for daily transactions:

Management of employment relations:

  • Employee profile.
  • Labor regulations, labor contracts, labor agreements with employees.
  • Implement and manage the labor contracts.
  • Payrolls service.
  • Internal Labor rules and codes of conduct.
  • Compulsory insurances, labor regimes, labor disputes.
  • Monthly and quarterly reports of Social and medical declaration.
  • Representative, on behalf to manage and settle with the competence state agencies for any query or requirement.
  • Other required relations between employees with company in signing and implementation of labor contracts.
  • Other required relations  between company with Insurances and Labor agencies in reporting and payments.
  • Other required relations  between company with Tax Department in reporting, payments and annual settlement.

Accounting and Tax management:

  • Monthly and quarterly reports on tax declaration.
  • Preparing Personal Income tax declaration, tax settlement, and obtain certificate of tax completion of the chief or expat when they leave from Vietnam.
  • Preparing cashbook, petty cash, vouchers and records for tax inspection. Transactions review, complete legal documents for every transaction. Optimize tax payable amount, risk management.
  • Business record management: Standard folders |Daily records | Scan in to solf files | Records completion…
  • Representative, on behalf of customer to manage and settlement with the competence authorities for any query or requirement.

Required compliance reports:

  • Annual operation reports and periodic reports for Department of Industry and Trade of HCMC.
  • Monthly, quarterly and annually reports and procedures at the Department of Labour and Social Welfare Services.
  • Monthly, quarterly and annually reports and procedures relating to personal income tax for staff at the Department of Taxation.
  • Manage for all business records and make its ready for any inspections from authorities.
  • On behalf of customer to settle any query or requirement from local competent state agencies.

Consultation service for expats:

  • Visa
  • Work permit | Labor contracts | Employee profile according to local labor laws
  • Temporary resident card
  • Personal income tax
  • Compulsory insurances
  • Driving license
  • Exclusive advice for Chief of representative office and Legal representatives in Vietnam.

Consultation service for none resident chief of representative office:

Professional employee profile and establish local employment relations

    • Know your employer and your title position
    • Local job descriptions that shall be in lined and consistent with the position
    • Establish a lawful employment relations in forms of appoinment letter, labor contract, internal assigment…
    • Required papers to meet local conditions on foreign employment in Vietnam.
    • Manage your work permits, residency.

Manage your personal income tax and compulsory insurances:

    • Taxable incomes and tax exemption, methods of tax declaration and payment.
    • Review and identify your sources of incomes, and tax deduction to avoid potential violations that may impact to your good standing.
    • Calulation tour tax payable amount and compulsory insurrances in lawful and optimal manners.
    • Review your tax reports and annual final settlement, apply for insurrance benefits and avoid double tax payment according to the tax agreements.
    • Representatvie on behalf to manage and settle any query or requriements from the local competent state agencies.

Consultancy local business rules and regulations:

    • Procedures for setting up representative offices / foreign invested companies.
    • Procedures for amendment, supplementation, termination of office license.
    • Labor rules and regulations, forms and procedures.
    • Personal income tax declaration and settlement.
    • Requirements and queries from competent state agencies.
    • Business records and internal reports.
    • Managing establishment licenses, annual operation reports, renewal and adjustment.
    • Optimizing – Managing employment relations – salaries – compulsory insurances.
    • Optimizing – Managing personal income tax and inspection procedures from the tax department.
    • Management Accounting.
    • Visas, work permits and temporary residence cards for expats.
    • Extension or termination of representative office license.
    • Exclusive advice for Chief of representative office and Legal representatives in Vietnam.
    • Updating new laws and regulations on foreign representative office and expat. Closuring and upgrade representative office in to subsidiary.

ABOUT VIVA BUSINESS CONSULTING

Who we are?

  • VIVA is a business consulting company, specializes in business compliance procedures according to local business laws and regulations since 2006. VIVA has been continuously trusted by thousands of well-known clients since 2006.
  • The insights and consistance background in Business Laws – Accounting and Corporate Finance – Tax Management – Labor Relations and Payroll – Secretarial services help us build trust and confidence in the entrepreneurs community.
  • We have been successfully providing service for thousands of leading companies from Hong Kong, Japan, US, EU, Singapore, India, China, Korea…. in forms of FDI companies, Foreign representative offices, Foreigner working in Vietnam, Vietnamese SMEs, Chief Operation Officers.

Business Consulting Services

  • Services for Expats in Vietnam: Visa, Work Permit, Temporary residence card, Compulsory Insurances, Personal Income tax, Labor contracts, Employment Records and Relations, Other Secretarial Services.
  • Services for Representative in Vietnam: Establishment, extension of representative office licenses. Required compliance procedures during operation. Rights and obligations of the chief of representative office. Closure of representative office risks management.
  • Services for a company in Viet Nam: Setting up a new company and licensing service. Business records management. Daily business transactions management. Tax management. Accounting and financial statements. Employments, payroll and compulsory insurances. Representative on behalf at competent state agencies for any business administration procedures.

A partner who has comprehensive expertise and expience in local business laws and regulations can help the investors short cut entry procedures, avoid and prevent most of legal risks, creat business advantages and keep their good standing.

Motivated by our core values of ceaseless improvement, our great insights in local business culture and regulations, as well as the exclusive services, promise to offer you one-stop and tailored-made solutions that optimize every of your business in Vietnam in the lawful manner.

We are looking to be your valued business partner and resources in Vietnam as we have been choosing since 2006.

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