DETAILED REGULATIONS OF THE TRADE LAW ON REPRESENTATIVE OFFICES, BRANCHES OF FOREIGN COMPANIES IN VIETNAM.
19 OCTOBER 2017
Decree No. 07/2016/ND-CP dated 25 January 2016 of the Government providing detailed regulations of the Trade Law on representative offices, branches of foreign companies in Vietnam.
The government has issued Decree No. 07/2006/ND-CP providing detailed regulations of the Trade Law on representative offices, branches of foreign companies in Vietnam. This Decree shall come into effective on 15 April 2016.
Representative offices
Decree 07 provides that in order to open an RO in Vietnam, the foreign company must have been operating for at least one (1) year. For licensing process, foreign company shall submit application dossier to open its RO to the Department of Industry and Trade (“DIT”) of the city where the RO plans to locate. The application dossier includes:- Application form
- Business registration certificate
- Letter of appointment of the chief representative
- Audited financial statements of the past year
- Passport of the chief representative
- Office pre-lease agreement
Branches
Decree 07 provides that in order to secure a branch license in Vietnam, the foreign applicants must have been operating for at least five (05) years. The application dossier shall be submitted to the Ministry of Industry and Trade (“MIT”) (rather than to DIT) and shall include the following documents:- Application form
- Business registration certificate
- Letter of appointment of head of branch
- Audited financial statements of the past year
- Operation charter of branch
- Passport of branch head
- Office pre-lease agreement