We would like to provide some information on possibilities of setting up representative office in Binh Duong Province, Vietnam as follows:
I. SETTING UP A REPRESENTATIVE OFFICE IN BINH DUONG PROVINCE, VIETNAM
1.Establishment of a representative office in Vietnam.
Under Decree No.72/2006/ND-CP dated July 25th, 2006 of Vietnam Government detailing Trade Law’s regulations on representative offices, branches of foreign company in Vietnam, a foreign company can establish the representative office in Vietnam to:
– Operate as contact office of foreign company in Vietnam;
– Promote cooperation projects of foreign company in Vietnam;
– Research market to push up chances to purchase commodities, supply and consume commercial services of foreign company in Vietnam;
– Supervise implementation of foreign company’s contracts signed with Vietnamese partners or related to Vietnam market;
–Conduct other works allowed by applicable law.
It is noted that under Vietnam Law, a representative office is not permitted to offer service(s) for profit-making purposes on its behalf in Vietnam.
2. Specific conditions for establishment of representative office of foreign company
Under Vietnam Law on Trade, in order to setup a representative office in Vietnam, a foreign company should satisfy following conditions:
– Being recognized as legal entities by countries or territories of business registration;
– Having operated for no less than 01 year since legal establishment or valid business registration in the countries of origin.
It should be noted that license for establishment of representative offices expire in five years but no more than expiration date of business registration or equal documents of foreign businesses in case foreign legislation establishes such a date. The License can be renewed.
II. OUR SERVICES, TIMING AND SERVICE FEE
1.Our Legal Services
SBLAW is ready to provide for legal consultation service to Client for the purpose of establishing a representative office of Client in Binh Duong Province, Vietnam via a two phases:
1.1 Phase 1: Licensing Procedure
– Providing advices on all legal aspects relating to procedures of obtaining License for establishment of representative office from competent authority;
– Preparing Application Dossiers (in both Vietnamese and English) for obtaining License for establishment of representative office;
– Representing Client to submit the Application Dossiers for obtaining License for establishment of representative office;
– Working with provincial competence authority ( Department of Industry and Trade) on behalf of Client to obtain the best support on reviewing and considering the application and providing explanation and/or supplementation of application dossiers per request;
– Updating information of the approving process to Client;
– Receiving License for establishment of representative office from provincial competent authority and hand it over to Client.
1.2 Phase 2: Post Licensing Procedure
– Obtaining the Seal of R.O and its certificate of seal sample registration from City Police
– Publishing the information of establishment of R.O on 3 consecutive newspapers as required by competent authority.
– Handling the tax matter for R.O including:
+ Registering and obtaining Tax code number for R.O
+ Initial declaration of personal Income Tax code number for Chief of R.O and other employees.
2. Timing
Within 01 (one) working day from singing contract between two parties, SBLaw shall deliver Client checklist of information and necessary documents for establishment of representative office in Vietnam;
– Within 02 (two) working days from full receipt of information and necessary documents delivered by Client, SBLaw shall deliver Client application dossiers for reviewing and proceeding;
– Within 01 (one) working day from full receipt of signed document provided by Client, SBLaw shall submit application dossiers to provincial competent authority;
– Within 20~25 (twenty to twenty five) working days from submission of dossier to provincial competent authority, SBLaw shall obtain License for establishment of representative office in Vietnam;
– Within 07 (seven) working days from obtaining License, SBLaw shall register and obtain the seal and certificate of seal sample registration and deliver to Client. In the meantime, we shall publish information of R.O establishment to newspapers.
