Representative Office The establishment of a representative office is permitted for foreign companies for market research, sales promotion activities (and therefore not for trading). In order to set up a representative office, the foreign company must satisfy certain conditions including, amongst others, that the company is already legally recognised in the country of its business registration and has been in operation for at least one year from the establishment date. The functions of a representative office include:
• Exercising the function of a liaison office.
• Market research to promote business opportunities for the foreign company that it represents.
For Representative Office, no Financial Statements need to be submitted anywhere and there is no requirement for local audit. Clearly any Financial Statements will be consolidated into the Parent organisation’s Financial Statements.
Representative Office The establishment of a representative office is permitted for foreign companies for market research, sales promotion activities (and therefore not for trading). In order to set up a representative office, the foreign company must satisfy certain conditions including, amongst others, that the company is already legally recognised in the country of its business registration and has been in operation for at least one year from the establishment date. The functions of a representative office include: • Exercising the function of a liaison office. • Market research to promote business opportunities for the foreign company that it represents. For Representative Office, no Financial Statements need to be submitted anywhere and there is no requirement for local audit. Clearly any Financial Statements will be consolidated into the Parent organisation’s Financial Statements.
Generally speaking a representative office can do all of business activities that the parent company does except direct trading in Vietnam. All contracts must be signed by the parent company and all of the payment MUST go to the parent company.
Typically cost is about US $700 plus administration fees (see below)
Administration fees: translation fees, notarization fees, license fee and the stamp fee which typically cost US $250 to $450.
We no longer provide this service and you should seek the help of a law office or an office/individual specializing in business related matters. It is also possible to complete the application yourself. However, you will need the assistence of a translator to ensure that you fully understand the requirements of the official processing your request
Contract us:
Ha Noi: hanoi@lhdfirm.com
Ho Chi Minh: all@lhdfirm.com
Da Nang: danang@lhdfirm.com
Call, iMessage, SMS, WhatsApp, Viber, Zalo: +84931767568
In spite of the limited operational scope, the establishment of representative office in Vietnam will provide the following advantages:
– Easier to establish and register compared to a subsidiary company.
– No requirement for minimum paid up capital and other legal requirements.
– The representative office can decisively control the employees, manage the business and trading in Vietnam and can do many works other than liaison.
– Regarding tax obligations, no taxes are applicable to RO’ s operations, besides the personal income tax payable by their staff.
– Applying the License for the representative office: 25 working days
– Applying for the seal of the representative office: 05 working days
– Applying for the tax code of the representative office: 05 working days
– Publication of the RO’s establishment: 5 days
The license shall be valid for five years and can be renewed. In such case of renewal, an application shall be submitted at least thirty days prior to the due date.
According to Vietnam’s laws, a RO is not permitted to perform any activities generating profit or any trade activities. The establishment of a RO is not considered as a legal commercial presence in Vietnam. For more detail, please refer to the scope of permissible activities of a RO:
– Operating as liaison office.
– Promoting the cooperation projects of foreign company in Vietnam.
– Researching market to push up chances to purchase commodities, supply and consume commercial services of foreign businesses in Vietnam.
– Supervising the implementation of foreign company’ contracts signed with Vietnamese partners or related to the Vietnamese market.
5 comment at post
igor snoy
Hi, Is it possible for a foreign company to set up multiple representative offices in Vietnam ? Kind regards, Igor Snoy
Wilson
Want to set up rep office at vietnam
Anh Hoàng
VIVA is the one in charge of proficiency and reliability, management and is fully responsible for all compliance procedures for a foreign representative office in Vietnam and also directly supporting to the chief and head office, who are representative on behalf for any query question at the local competent State agencies. VIVA would like to share some useful knowledge based on our practical experience and solutions offered to thousands of cases related to foreign representative offices and subsidiaries in Vietnam: https://representative-office.vivabcs.com.vn/ For more information, please contact us through hotline: 18001243 or through Email: support@vivabcs.com.vn
Seiichiro Fujinuki
Hello. I have seen your website. I am a Japanese who wants to open a representative office in Vietnam. If we ask your company to act as an agent for the establishment, please give me an estimate of the cost. Our business is advertising. I'm waiting your reply soon. Thanks
Seiichiro Fujinuki
Hello. I have seen your website. I am a Japanese who wants to open a representative office in Vietnam. If we ask your company to act as an agent for the establishment, please give me an estimate of the cost. Our business is advertising. I'm waiting your reply soon. Thanks
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