RISK MANAGEMENT ON REPRESENTATIVE OFFICE OPERATION IN VIETNAM

Risk management of representative office in Vietnam

RISK MANAGEMENT ON REPRESENTATIVE OFFICE OPERATION IN VIETNAM

(Last Updated On: July 5, 2021)
Risk management of representative office in Vietnam

Risk management of representative office in Vietnam

RISK MANAGEMENT ON REPRESENTATIVE OFFICE OPERATION IN VIETNAM

  • Managing risks related to business licenses for foreign representative offices in Vietnam.
  • Risk management related to labor relations – salaries – compulsory insurances while recruiting for foreign representative offices in Vietnam.
  • Risk management related to personal income tax and inspection procedures from the tax department after every 3 to 5 years operating foreign representative offices in Vietnam.
  • Any query about local laws and regulations, directly consultation with the top experts on the office operation or dissolution of foreign representative offices in Vietnam.

With the exclusive service of “Full compliance procedures for representative office in VietnamVIVA has been successful managing for our thousands of clients in fully complying with local laws and regulations.

VIVA helps the Parent Company as well as the Chief of Representative Office in Vietnam be free from any compliance reports or requirements, just focus on their competitive business.

Most of foreign representative offices in Vietnam have been facing the same risks due to typical violations with local laws and regulations, especially:

  1. Fail to be updating and extending the licenses, fail to submit annual operating reports in time.
  2. Fail to be registering the internal labor regulations.
  3. Violations in personal income tax and compulsory insurances declaration and payment.
  4. Violation in work permit, temporary residence card, certificate of tax obligation completion for expats.
  5. Violation in business records management, especially in lawful invoices for daily expenditures.
  6. Receive payment from third parties or pay to others with transactions that not in lines with the scopes of representative office.
  7. Failure to respond and settle queries and requirements from the local competent state agencies.
  8. Failure to manage risks and disputes in labor relations.
  9. Failure to report and collaborate to the head office.

 

Risk management of foreign representative offices operating in Vietnam is professionals job that requires in an integrated-depth expertises knowledge and experience related to the Commercial Law, Labor, Tax accounting, and other administration regulations…

Properly managing when operating foreign representative offices in Vietnam not only helps your team focus well on the competitive business activities from the parent company but also avoid legal risks, cost-saving, competitive advantage.

Being an in-depth pioneer and unbreakable competitiveness in services for foreign representative offices in Vietnam, not only providing the service of “Managing foreign representative offices in Vietnam according to local regulations. ”, VIVA BCS also offers clients free consultation on daily operation transactions – dissolution procedures – transforming an office into a subsidiary, free-of-charge on work permits or temporary resident cards for the chief of representative offices…

 

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 consistent backgrounds 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.
  • VIVA's logo is our Brand name, our signature, it states our faith - independence - transparence - and loyalty for client's interest. The signature is commitment and honor on our outstanding expertise and professionalism. It is the symbol of good standing for our clients whenever they are doing business with customers, partners, the local competent state agencies...

 

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Read more:

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Chief of representative office or head of branch in Vietnam – role and responsibility

Manage tax declaration and settlement for a foreign representative office in Vietnam

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