SBLaw would like to give information for setting up a representative office of foreign company in Hanoi and Ho Chi Minh City (hereinafter referred to as “Company”) as follow:
1. Setting up Representative Office
Under Vietnam Law, the Company can consider setting up a representative office to serve following purposes:
– Operate as contact office of the Company in Vietnam;
– Promote cooperation projects of the Company in Vietnam;
– Research market to push up chances to purchase commodities, supply and consume commercial services of the Company in Vietnam;
– Supervise implementation of the Company’s contracts signed with Vietnamese partners or related to Vietnam market;
– Conduct other works allowed by applicable law
You should note that, under Vietnam Law, Representative Office is not allowed to carry out business activities for profit purpose. It is further advised that validity term of the License for setting up a Representative Office is only 05 years (renewable) counted from the establishment.
The Company is not required to contribute capital for operating the Representative Office in Vietnam except for necessary expenses for paying salary and Personal Income Tax for employees working for the Representative Office as well as office lease cost, etc.
Furthermore, as the Representative Office does not operate for profit purpose, the Representative Office is not required to pay Corporate Income Tax but Value Added Tax for its consumed goods and services, Personal Income Tax for employees working at the Representative Office etc.
We therefore are of opinion that Setting up Representative Office should be for business activities of the Company in short term only.
2.Scope of work of SBLaw
Our services for in this regard will include:
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SCOPE OF SERVICES |
Preparation of the application documents:
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Licensing procedures:
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Post-licensing procedures:
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3. Our delivarables
The Deliverables will include documents prepared in Vietnamese as required for submission to licensing bodies. The Company will review, approve and where necessary sign these documents.
SBLaw may provide English translations of these documents (or extracts thereof), but the translated documents should be used for reference other the purposes of discharging the Company’s responsibility for the positions taken and the underlying company information
4. Professional fee
The Price for performing the SBLaw services as mentioned in item 2 above will be as follows:
Setting up Representative Office in Hanoi and Ho Chi Minh City which can be lasted within 15-20 working days from submission of application dossier to the competent authority: US$ 2,800 (One thousand and eight hundred US Dollars);
Our professional fee does not include the followings:
Exclusions
- Translating of documents from English into Vietnamese (10 USD/300 words);
- Governmental fee (about 150USD for each Representative Office);
- Dealing with other authorities not mentioned above in the scope of work;
- Out of pocket expenditure such as traveling and photocopying documents;
- Any services that are not included in the scope of work mentioned above;
- Value Added Tax (10%), Withholding Tax & Bank Charge.
