Legal service for closing the representative office in Vietnam

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sblaw
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Law on commercial arbitration
Law on commercial arbitration

It is our understanding that your company intends to close its representative office in Vietnam, SBLaw can provide this legal service:

1. BRIEF SUMMARY OF BACKGROUND AND OUR COMMENTS

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 request for closing of its Representative office in Vietnam.

Accordingly, within at least 30 days before the tentative day when representative office ends, the foreign company must send announcement on the event to the licensing agency, lenders, workers in the representative office and other relevant individuals.

The announcement must specify tentative time for ending operation of the representative office and be posted publicly at the representative office and syndicated in three consecutive issues of newspapers or online newspapers, which are allowed for distribution in Vietnam.

It is noted that under Vietnam Law, before obtaining an approval for closing, the Representative Office must fulfill all pending responsibilities to competent authorities, labors as well as relevant persons.

Especially, the Representative Office must show documents certifying that all Personal Income Tax payable by labors and Chief of Representative Office was totally paid and the Representative Office has no any pending obligations to labors or relevant persons.

The roadmap for closing the Representative Office can be described in following steps as follows:

a)     Preparing the application dossier: We shall collect necessary information and documents from you. Our Team shall work on your current documents to finalize the dossier for working with Tax Agency and other required documents for closing the Representative Office in Hanoi, Vietnam. We anticipate that this phase shall be completed within 03 weeks. The prepared documents shall then be sent to you for review, signing and seal.

b)    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 2-4 months from submission of application dossier to the competent authority, we can complete the procedures for closing the Representative Office in Hanoi, Vietnam. In some case the process can be longer as it takes time to review tax matters of the Representative Office during its operation term.

2. OUR SCOPE OF WORKS

SCOPE OF SERVICES
Preparation of the application documents:

  • Notifying application documents required in accordance with Vietnamese law;
  • Drafting application documents required for submission purpose;
  • Liaising with SBLaw to discuss the draft application documents;
  • Amending the application documents based on your comments;
  • Obtaining preliminary comments from the licensing authority on the draft application documents;
  • Finalizing the application documents following comments from the licensing authority; and
Licensing procedures:

  • Submitting the application dossier to the licensing authority on your behalf;
  • Monitoring and following up with the relevant authorities on the approval process;
  • Keeping your company updated on the developments and additional requirements, if any; and
  • Assisting you in obtaining the final result

3.       OUR DELIVARABLES

The Deliverables will include documents prepared in Vietnamese as required for submission to licensing bodies.

You 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 your responsibility for the positions taken and the underlying company information.

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