Tips For Doing Business In Vietnam

Tips for doing business in Vietnam 2020, When Expat want doing business in Viet Nam, They need Advise of Lawyer in Viet Nam,  But for those planning to do business in Vietnam for the first time, it is important to learn about the country’s vibrant culture and traditions. Those that do will find it easier to work in the country...

Things to know when foreigners wish to business and labor in Vietnam

Consulting and answering questions about the alien to establish the enterprise, business, and labor in Vietnam:

Foreign traders are granted a license for establishment of branches in Vietnam when all the following conditions:

- a trader domestic law where it has established business registration or legal recognition;

- Having been operating for less than 05 years, since the establishment or registration of legitimate business.

License branch establishment in Vietnam of foreign traders have a term of 05 years but does not exceed the remaining term of the certificate of business registration or papers of equivalent value of foreign traders in case of legal foreign law prescribed deadline business registration certificate of foreign traders.

Competent agencies licensed

Ministry of Industry and Trade shall grant, re-grant, amend, supplement, extend, withdraw permits for the establishment of branches of foreign traders.

General conditions for record-level establishment license of the branch:

The papers issued by foreign agencies competent or confirmed to be legalization under the provisions of the law of Vietnam and translated into Vietnamese; translations, copies must be notarized by the law of Vietnam.

Copies of the documents by the competent agencies of Vietnam or certification must be notarized following the law of Vietnam.

The case does not permit the establishment of branches:

- Do not meet the provisions of Section 1 above.

- Traders trading foreign goods and services on the list of goods and services banned from the business following the law of Vietnam.

- Foreign traders applying for a license to establish their branches within 02 years from the date of withdrawal establishment license in Vietnam.

- There is evidence that the establishment of the branch prejudicial to the defense, security, social order and social safety, historical traditions, culture, ethics and fine customs of Vietnam and the health of people, deplete natural resources and environmental destruction.

- Filing invalid and no additional dossiers required by the competent authorities granting the permit.

Term license

- Within 15 days from the date of receipt of a valid application, the Ministry of Commerce completed the assessment and issued to foreign traders license for establishment of branches and send copies thereof to the provincial people's committee, the Department of Commerce, the tax authorities, statistical offices, provincial police office where the branches are located;

- If no valid documents, within 03 working days from the date of receiving the application, the agency must notify the license in writing to foreign traders supplement and complete the dossier.

- Immediately after the expiry of the above without the license for establishment of branches, the Ministry of Trade must notify in writing the foreign traders about why no license;

Notification activities

Within 45 days from the date of issuance of the license branch must publish written or electronic media is authorized to issue in Vietnam in 03 consecutive issues the following details:

- Name, the head office of the branch;

- Name and address of the headquarters of the foreign traders;

- The head of the branch;

- The number, date, and duration of the license for establishment of branches, agencies, and levels;

- The contents of the branch operation.

Within the provisions above, branch operations and must formally notify the Department of Commerce and Department of Commerce where the branch is located in the opening activities at the registered office.

The content of the branch activities

- Branch conducted the activities stated in the license for establishment and compliance with the law;

- In the case of branches operating in the fields of law which must have condition branch is only active when there are qualified under the regulations;

- Conditions for business operations are required which branch must have or must take when conducting business activities, in particular, is represented by business license, certificate of qualified business practice certificates vocational, professional insurance certificate, the legal capital requirements or other requirements specified by law on enterprises.

Open Bank Account

-Branches are open accounts payable in foreign currencies, in Vietnam Dong in the bank authorized to operate in Vietnam to serve the operation of the branch;

-In special cases, the branch is opened by an account at a foreign bank after being approved by the State Bank of Vietnam. The branch is responsible for reporting the State Bank of Vietnam on the use of open accounts overseas.

-The opening, use and closing of the account of the branch carried out by the State Bank of Vietnam.

Rights and obligations of branches and head of branches

The branch, the head of the branch performs the rights and obligations under the provisions of the commercial law and the following provisions:

-Branches are not implemented functions representing other traders, not to be leased back branch offices.

-The head of the branch of the foreign trader is not supported by the following office:

-The head of the representative office of Foreign traders in Vietnam

-Head of Representative office and branch of another foreign merchant in Vietnam.

Obligations of foreign traders against branches:

-Foreign traders must take responsibility before Vietnamese law for the entire operation of their branch in Vietnam;

-The head of the branch shall be responsible for its activities and the branches under the law of Vietnam in case of performing activities outside the authorized scope;

-At least 15 days before the branch terminates operations, foreign merchants, branches are obliged to complete payment of debts and other obligations with the State, organizations or individuals concerned following the law;

-Within 60 days from the date of termination of the branch of foreign merchants have the obligation to complete payment of debts and other obligations with the State, organizations or individuals concerned following the law.

NEED LAWYER  → LHD LAW FIRM