NOTE ON SETTING UP A REPRESENTATIVE OFFICE IN VIETNAM

Setting up a representative office is considered one of the simplest forms of investment in Vietnam. The representative office will help the foreign trader to lease office, hire people, open bank account, and promote the business activities in Vietnam market.  The chief representative if being foreigner will then could apply for work permit and temporary residence card to stay in Vietnam.  There is no income tax...

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DRAFT AND REVIEW CONTRACTS – A LAWYER’S VIEW

In Vietnam, certain type of contract has to follow forms requested by laws as such client is recommended to seek help from professional contract lawyers in Vietnam to help draft or review. Contract is an agreement enforced by law.  In Vietnam, contract is a civil transaction which parties enter into voluntarily, each of whom intends to create, change, or terminate one or more rights or obligations between them according to Vietnam...

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CONDITIONS OF SETTING UP IMPORT AND EXPORT COMPANY IN VIETNAM

Before Vietnam joined World Trading Organization (WTO), distribution and import, export activities conducted by foreign owned entities are strictly regulated by Vietnam government.  As such, foreigners could only conduct the import of goods through the Vietnam agents. Since 2007, Vietnam has become an official member of WTO and it had to commit a route to open local market to foreign companies and traders, including foreign...

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CONDITIONAL INVESTMENT SECTORS AND INVESTMENT CONDITIONS IN VIETNAM

When setting up a trading company in Vietnam, beside other conditions, the foreign investors have to prove experience in trading area.  Areas such as banking, financial services, real estate, security services will require minimum investment.   Foreign investment lawyers should be consulted for advice on investment licensing matters. In general, foreign investors making investment in Vietnam are encouraged.  However,...

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WHICH FORM OF INVESTMENT – BRANCH OR COMPANY?

Foreign entities can set-up company or branch offices in Vietnam to carry out business activities. There are several main different aspects between opening a branch office or establishing a foreign owned company in Vietnam. Conditions Permits for establishment of Vietnam-based branches of foreign enterprise shall each have a valid term of five years. Foreign enterprise must choose between establishing a 100% foreign capital...

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CONDITIONS FOR ESTABLISHING REPRESENTATIVE OFFICE IN VIETNAM

Decree No. 07/2016 / ND-CP regulating the Commercial Law regarding representative offices and branches of foreign traders in Vietnam that have recently been issued by the Government. Accordingly, foreign traders can establish their representative offices and branches in Vietnam under Vietnam’s commitments in international treaties to which Vietnam is a member. A foreign trader cannot establish more than one representative office or...

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CASES THAT FOREIGNERS DO NOT HAVE TO APPLY FOR WORK PERMITS

Pursuant to Decree No. 11/2016/ND-CP of the Government that will take effect April 1st 2016, the below cases of foreigner will not have to apply for work permit in Vietnam: As capital contributing members or the owner of limited liability company. As member of the Managing Board of the joint stock company. As Head of the representative office, project of international organizations, non-governmental organizations in Vietnam. Entry...

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