The Decree No. 07/2016/ND-CP detailing the Trade Law on representative offices, branches of foreign businesses in Vietnam issued by the Government on January 25, 2016; within that, the most important content is that a foreign business can not establish more than one representative office or branch that has the same name in a province, city under the central management.
To issue the License for establishment of representative offices, foreign businesses must meet the conditions such as having business registered according to the law and commitments in international agreements that the country in a member or being recognized by the law of these countries or territories; having operated for no less than 01 year since legal establishment or valid business registration; If business registration certificate or equal documents of foreign businesses states the expiration date, the valid time should remain at least one year since the submission of the dossier; the operation content of representative offices must be in accordance with commitments of Vietnam in international agreements that the country in a member…
Especially, having operated for no less than 01 year since legal establishment or valid business registration, or having operated for no less than 05 year since legal establishment or valid business registration on issuance of License for establishment of branches.
Also in accordance with this Decree, license for establishment of representative offices, branches shall be valid in 5 years but it should not be exceed the remaining time of business registration certificate or equal documents of foreign businesses if there are regulations on the expiration date.
This Decree takes effect on March 10, 2016.
