Client: Please advise how much is your total costs/charges (no hidden costs/charges, please) to close my Vietnam RRO in Hanoi as I have one Vietnamese Chief Representative and our current RRO license is expiring on 3 February 2016. Business is no good over the years and I decided not to renew my RRO Licence once it is expired on 3 February 2016.
Lawyer: This is reference to your email from which, we understand that you (hereinafter referred to as “Client”) are now considering closing its Representative Office in Hanoi, Vietnam (hereinafter referred to as “RO”).
We therefore would like to send herewith our legal service proposal for your kind consideration.
1.OUR PRELIMINARY COMMENTS
Under the Vietnam’s Decree No. 72/2006/ND-CP of the Government stipulating details of the Commercial Law on representative office and branch of foreign traders in Vietnam, the representative office can be terminated pursuant to the proposal of the Foreign Trader.
Before closing Representative Office, Client shall be required to finalize and pay all the taxable, financial obligations to Vietnamese state to close the tax code of RO (if any), paying all personal income tax of the RO chief and all staffs, liquidating all employment contract and other contracts such as office leasing contract, the contract with some suppliers (if any) and pay all outstanding debts (if any).
2. SCOPE OF WORKS
Our services in this regard will include:
2.1. Preparation of the application documents:
Notifying application documents required in accordance with Vietnamese law;
Working with Tax Agency to resolve pending matters regarding to Tax burden
under Vietnam Law;
Drafting application documents required for submission purpose in Englishlanguage;
Liaising with you to discuss the draft application documents;
Amending the application documents based on your comments;
Obtaining preliminary comments from the licensing authority on the draft application documents;
Finalizing the application documents following comments from the licensing authority; and
Translating the final version of the application documents into Vietnamese for execution.
2.2. Licensing procedures:
Submitting the application dossier to the licensing authority on your behalf;
Monitoring and following up with the relevant authorities on the approval process;
Keeping you updated on the developments and additional requirements, if any; and
Assisting you in obtaining final result from Competent Authorities
The Deliverables will include documents prepared in Vietnamese and English as required for submission to licensing bodies.
4. PROFESSIONAL FEE
The Total price for performing the SB Law services as mentioned in item 4 above will be 3,000USD (Three thousand US Dollar). This fee is exclusive of:
·Actual cost for translating documents issued by foreign competent authorities or other internal documents etc provided by Client from English into Vietnamese (10USD/150 words);
·Governmental fee including tax obligation, penalty or sanction incurred on Client behalf (if any); and
·VAT (10% of our professional fee).
Get in touch with us