Establish foreign branch in Vietnam

As Vietnam’s economy continues to grow, more and more businesses are looking to establish a presence in the country. If you’re thinking of expanding into Vietnam, here are some things you need to know about doing business there. By establishing a foreign branch in Vietnam, you’ll be able to take advantage of the country’s booming economy and growing consumer base. However, there are a few things to keep in mind when expanding into Vietnam, such as the country’s complex business culture and its different legal framework. With the right planning and preparation, though, expanding into Vietnam can be a profitable venture for your business.

Globalization has caused the world economy to become more connected than ever before. As a result of this trend, enterprises are no longer restricted in their activities by borders and seek out new markets around globe – even if it means setting up shop abroad for some time . When establishing branches or operations within another country’s borders there is an obligation that comes with following local laws so as not break them too greatly while also ensuring proper compliance will avoid headaches down the line when trying returning home again after doing business internationally.

To be granted the Establishment of Branch License, a foreign trader must satisfy the following conditions:

– The foreign trader is established or registered under the law of a country which has an agreement with Vietnam.

– The foreign trader has been operated at least 05 years from the date of establishment or registration;

– The certificate of establishment or registration must be still valid for at least one more year from the date it was submitted.

– The branch must comply with Vietnam’s WTO Commitments on market approach in treaties to which it belongs and conformable with business lines of the foreign trader.

– The commitment to expand into new markets, increase efficiency and serve customers better than ever before is not just a promise. It’s something we are working hard every day towards achieving together with you!

A dossier for establishment of branch of a foreign trader includes:

– An application form for the Establishment of Branch License (using the form published by the Ministry of Industry and Trade) signed by a competent representative of the foreign trader;

– Copies of the certificate of establishment or any equivalent document of the foreign trader;

– A letter of appointment of the head of the branch;

– Copies of audited financial statements or confirmations of fulfillment of tax duties or financial obligations of the latest fiscal year or any equivalent documents proving the existence and operation of the foreign trader in the latest fiscal year;

– Copies of the branch’s charter;

– Copies of ID card or passport of the head of the branch;

– Documents about the intended head-office location of the branch, including:

– Copies of memorandum of understanding or the lease agreement or documents proving that the trader has the rights to use the location;

– Copies of documents explaining the intended location of the branch: the location must comply with the regulations on security, occupational hygiene and safety and other relevant regulations;

– The branch do not have the right to lend or re-lease the location.

The foreign trader must submit their application to the Ministry of Trade and Industry. The registry body will examine any missing or extra paperwork within three working days, after which they may require more information if necessary- this process should not take longer than one time during your entire submission process!

Validity of the Establishment of Branch License:

The establishment of branch license shall be valid for five years but not exceeding the remaining validity date on your certificate or equivalent document from another jurisdiction in case it has an expireamento.

Conditions of the head of the branch

– The head of the branch is responsible for his or her actions and operation within the power to attorney.

– The head of the branch is responsible for his/her action surpassing the power of attorney;

– When the head of a branch is not able to conduct business affairs, they may grant power-of attorney and accept responsibility for exercising rights under that agreement. This will ensure continuity in operations while also ensuring stability within your company’s foreign trade department

– When the power of attorney expires, if there’s no additional grant given and it remains with just one person who has been authorized all along then they may continue exercising rights within their scope as long as nobody else takes over until another head returns or becomes appointed

– The Head of the branch must be present in Vietnam or have authorized someone else to act on their behalf for more than 30 days without returning, dead/missing-detained sentence served prison time means that they’re unable participate directly with business operations so long as this continues;

– The head of the branch shall not concurrently hold the following titles:

+ The head of another branch of the foreign trader;

+ The head of the branch of another foreign trader;

+ The legal representative of a business organization established under the law of Vietnam.

Vietnam offers a favorable business climate and an abundance of skilled labor, making it the perfect place to establish your company’s foreign branch. With our help, you can navigate the complexities of doing business in Vietnam and take advantage of all this vibrant country has to offer. Contact us today to get started!

Hanoi Head-office

F4 Building No 112 Trung Kinh Street, Yen Hoa Ward, Cau Giay District, Hanoi City, Vietnam
(84) 2462852839 – Mobile: (84) 981.378999

Email: lienhe@luathoangphi.vn