ESTABLISHMENT OF FOREIGN BRANCH IN VIETNAM
Recently, Doanh Tri Law firm received a lot of questions and feedback from clients about the establishment of foreign companies’ branches. Establishing a branch of a foreign company is a popular form, the procedure is simpler than establishing a 100% foreign-owned company as well as a joint venture company. Therefore, Doanh Tri Law firm proposes the process and procedures for registering a branch of a foreign company as follows:
I. Process and time for setting up a branch of a foreign company
- Application for a license to register a branch operation (15 - 30 working days);
- Register seal engraving for branch (2 working days);
- Open a bank account for the branch (1 day);
- Applying for a tax registration certificate (granting tax code), within 2 - 5 working days;
- Complete tax documents for the branch (5 - 10 working days).
II. Documentation of the establishment of foreign company branch should be prepared
- Parent company license 3 certified true copies (with consular legalization) - The company has been operating for 5 years or more;
- Audited financial statements in the latest year (with consular legalization);
- Passport/Vietnamese ID card of the head of Representative Office;
- Office lease agreement/contract.
Estimated total time: 30 - 45 working days.
III. Conditions for grant of licenses to set up branches of foreign companies
- Foreign traders are established and registered in accordance with the laws of the countries and territories participating in the international treaties to which Vietnam is a member or recognized by the laws of these countries and territories;
- Foreign traders have been operating for at least 5 years from the date of establishment or registration;
- In case the business registration certificate or equivalent paper of the foreign business entity stipulates the term of operation, the time limit must be at least 01 years from the date of submission of the application;
- The operation of the branch must comply with Vietnam's market-opening commitments in the international treaties to which Vietnam is a signatory and in accordance with the business lines of the foreign trader;
In case the operation content of the branch is not in accordance with the commitment of Vietnam or the foreign trader is not in a country or territory participating in an international treaty of which Vietnam is a member, the establishment of a branch must with the approval of the Minister of specialized management.
IV. A dossier of setting up a branch comprises
- Application for establishment;
- Enterprise registration certificate (consular legalization - judicial notarization translation);
- Operation charter of a branch- 2 copies;
- The document appoints the head of the branch concurrently stating the scope of operation.
The above are contents related to the establishment of foreign branches. If you have any questions, please contact us directly.
Hotline: (+84) 911.233.955 or Email: firstname.lastname@example.org
Doanh Tri Law firm is willingly pleased to accompany and cooperate with you!
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