Question: I have some questions relating to our representative office in Ho Chi Minh City, Vietnam.
1. How much the cost to close the representative office ?
2. Can we leave Rep Office dormant…if so, at what cost…?
3. Can we re-open the entity at our discretion as some point in the future….if so at what cost…?
4. Would we need to physically retain the office to remain registered….?
Answen: It is my pleasure to know you and work with you. Regarding to your question, please find our answer as below:
1. Our professional fee for closing a representative office is 1,200USD. The fee does not cover services for finalization of tax obligation of the representative office with tax agency (if any), actual cost for traveling and accommodation (this fee is applicable in case your representative office is not in Hanoi or Ho Chi Minh City), cost for translating of your documents from English into Vietnamese (10USD/150 words, if any) and 10%VAT.
2. Vietnam Law is silent on whether it is possible to leave a representative office in dormant. Thus, we are not in right position to advise you the cost for such case. However, in case your unofficially leave it in dormant, you have to at least pay following cost: (i) Office rental, (ii) Personal Income Tax for Chief of Rep; (iii) cost for retaining a person for preparation of the annual report for the Representative Office.
3. Yes, you can. If you re-open the representative office in future, our professional fee shall be 1,500USD. The fee is exclusive of the actual cost for traveling and accommodation (this fee is applicable in case your representative office is not in Hanoi or Ho Chi Minh City), cost for translating of your documents from English into Vietnamese (10USD/150 words, if any) and 10%VAT. We would like to note that we reserve our right to change our fee quotation if you request for our service in the future.
4. Yes, if you wish to leave the representative office in dormant.
We do hope that the above information is helpful for you. If you have any further inquiry, please feel free to contact us.
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