Question:
I want to set up a representative office in Hanoi.
Please send me a price quotation.
Answer:
1. PRELIMIANRY COMMENTS OF SETTING REPRESENTATIVE OFFICE AND SCOPE OF SERVICES OF SBLAW
- Preliminary comments of setting up R.O in Vietnam
Under Decree No.07/2016/ND-CP dated January 25th, 2016 of Vietnam Government detailing Trade Law’s regulations on representative offices, branches of foreign company in Vietnam, a foreign company can establish the representative office in Vietnam to:
-Operate as contact office of foreign company in Vietnam;
- Promote cooperation projects of foreign company in Vietnam;
- Research market to push up chances to purchase commodities, supply and consume commercial services of foreign company in Vietnam;
- Supervise implementation of foreign company’s contracts signed with Vietnamese partners or related to Vietnam market;
- Conduct other works allowed by applicable law.
It is noted that under Vietnam Law, a representative office is not permitted to offer service(s) for profit-making purposes on its behalf in Vietnam.
*Specific conditions for establishment of representative office of foreign company
Under Vietnam Law on Trade, in order to setup a representative office in Vietnam, a foreign company should satisfy following conditions:
-Being recognized as legal entities by countries or territories of business registration;
- Having operated for no less than 01 year since legal establishment or valid business registration in the countries of origin.
It should be noted that license for establishment of representative offices expire in five years but no more than expiration date of business registration or equal documents of foreign businesses in case foreign legislation establishes such a date. The License can be renewed.
1.2 SCOPE OF SERVICES
Following works are proposed based on the request of Client. However, depending on the specific position/situation of Client, several work items may not be necessary. Meanwhile, other works may be required. However, any additional works shall not fall under the scope of this Legal Service Proposal, but could be provided upon request.
| SCOPE OF SERVICES |
| Preparation of the application documents:
· Notifying application documents required in accordance with Vietnamese law; · Drafting application documents required for submission purpose in English language; · 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. |
| 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 License for establishment of R.O Post-licensing procedures: · Placing an announcement on establishment of R.O on the newspaper; · Obtaining Tax Code Registration for R.O; · Obtaining Seal Sample and Certificate of Seal Sample Registration · Declaration on commencing operation of R.O
|
Roadmap for carrying out above scope of work can be described in details as follows:
- Preparing the application dossier: We shall collect necessary information and documents from you. Upon receipt of necessary information and documents from you, we shall translate documents from English into Vietnamese and prepare the application dossier under the standard The initial drafted application dossier shall be sent to you for your comments. Then, after updating the application dossier based on your comments, we shall obtain the preliminary comments from the competent authority and send the finalized application dossiers for you to sign and seal. We anticipate that this phase shall be completed within from 5 working days. The prepared documents shall then be sent to you for review, signing and seal.
- Submission of application dossier: Within 02 working days from receipt of duly signed and sealed application dossier, we shall submit the application dossier to the competent
- Licensing Process: Within 25 working days from submission of application dossier to Licensing Agency, we shall obtain License for establishment of O for Client.
- Post licensing: Within 13 working days we shall complete the post licensing procedures such as publishing the establishment of O, obtaining Seal Sample, Certificate of Seal Sample Registration, Tax Code Registration for R.O and Report for commencing operation of R.O.
2. DELIVARABLES
The Deliverables will include documents prepared in English. Vietnamese Version shall be provided if the document is required for submission to licensing bodies. Client will review, approve and where necessary sign these documents. .
3. PROFESSIONAL FEE
The Price for performing the SBLaw services as mentioned in item 1 above will be as follows:
-For obtaining License for Establishment of R.O: 1,000USD (One thousand US Dollar only);
- For declaration of commencing operation of R.O: 150USD (One hundred and fifty US Dollar only);
- For placing announcement of establishment of R.O, obtaining Tax Code Certificate, Seal Sample of R.O: 150 USD (One hundred and fifty US Dollar);
It is noted that The fee is exclusive of 150 USD of Govermental Fee, 10% V.A.T and translation fee, applied 10 USD/ page (one Page is no more than 250words). Translation fee should not exceed 300USD.
Therefore, estimated fee of R.O to be established is 1,450 USD + translation fee+ 10% VAT.
