Establishment of a representative office in Hanoi of foreign invested company

By
sblaw
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0
581
Custom Duty for foreign contractor in Vietnam

We refer with thanks to your email today, from which we were requested to advice on establishment of a representative office in Hanoi of foreign invested company in Long An province (hereinafter referred to as “Company” or “Client”).

1.Setting up RePRESENTATIVE OFFICE OF FOREIGN INVESTED COMPANY IN HANOI

The establishment of a Representative Office of Foreign Invested Company (hereinafter referred to as “RO”) in Vietnam requires a Certificate of Operation of Representative Office from the licensing authority.

In this case, we understand that the RO shall act as liaison office of Company in Hanoi.

We would like to clarify that the procedure for establishment of RO shall be about 10 working days. However, the actual process may take a longer time due to that the competent authority must consult other relevant offices to evaluate the application dossier.

The roadmap for the incorporation of the RO of Company can be described in following steps as follows:

Preparing the application dossier: We shall collect necessary information and documents from you. Upon receipt of necessary information and documents from you, we shall translate documents from English into Vietnamese (if necessary) and prepare the application dossier under the standard forms. The initial drafted application dossier shall be sent to you for your comments. Then, after updating the application dossier based on your comments, we shall obtain the preliminary comments from the competent authority and send the finalized application dossiers for you to sign and seal. We anticipate that this phase shall be completed within 05-07 working days. The prepared documents shall then be sent to you for review, signing and seal.
Submission of application dossier: Within 02 working days from receipt of duly signed and sealed application dossier, we shall submit the application dossier to the competent authority. It shall take about 10 working days from submission of application dossier for the provincial licensing authority to grant the Certificate of Operation of Representative Office. In some case the process can be longer as it takes time to consult relevant competent authorities.

Post licensing: Within 13 working days we shall complete the post licensing procedures such as publishing the Representative Office in Newspaper, obtaining seal.

Regarding to tax code registration, Company must inform the Tax Agency in Long An Province to issue Tax Code Number for the Representative Office. It shall take about 7 calendar day from submission of dossier to the Tax Agency, the Tax Code Number of Representative Office shall be issued. We will assist Client in notice of such tax code to the Tax Agency of Hanoi City.

2. SERVICES TO BE PROVIDED BY S&B LAW

Our services in this regard will include:

 

SCOPE OF SERVICES
Preparation of the application documents:

  • Notifying application documents required in accordance with Vietnamese law;
  • Drafting application documents required for submission purpose including notice, power of attorney, board resolutions in English language;
  • Liaising with Company to discuss the draft application documents;
  • Amending the application documents based on Company’ comments;
  • Obtaining preliminary comments from the licensing authority on the draft application documents;
  • Finalizing the application documents following comments from the licensing authority; and
  • Translating the final version of the application documents into Vietnamese for execution.
Licensing procedures:

  • Submitting the application dossier to the licensing authority on Company’s behalf;
  • Monitoring and following up with the relevant authorities on the approval process;
  • Keeping Company updated on the developments and additional requirements, if any; and
  • Assisting Company in obtaining the Certificate of Operation of Representative Office.
Licensing procedures:

  • Submitting the application dossier to the licensing authority on Company’s behalf;
  • Monitoring and following up with the relevant authorities on the approval process;
  • Keeping Company updated on the developments and additional requirements, if any; and
  • Assisting Company in obtaining the Certificate of Operation of Representative Office.
Post-licensing procedures:

  • Obtaining Seal Sample Registration;
  • Publishing the Representative Office on newspaper;
  • Noticing the Tax Code to Hanoi Tax Agency.

3. PROFESSIONAL FEE

3.1.  Our professional fee shall be as follows:

(a) For establishment of the Representative Office in Hanoi, SB shall charge a lump sum VND 21,000,000 VND (Twenty one million Vietnam Dong).

Our fee excludes 10% VAT, expenditure for translation of documents provided by you from English into Vietnamese (200,000 VND/300 words) and governmental fee (about 1,000,000VND).

3.2. Services fee shall be paid to SBLaw as follows:

– After the date of signing this contract, you will prepay for SBLaw an advance payment equivalent to 60% of total service fee.

– The remained 40% of total service fee shall be paid upon completion of services.

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