In case the foreign investor would like to do business in Vietnam, we strongly recommend you two options below for your consideratio:
1. Establishment of a Representative Office:
Under Decree No.72/2006/ND-CP dated July 25th, 2006 of Vietnam Government detailing Trade Law’s Regulations on Representative offices, branches of foreign company in Vietnam, foreign company possibly establish 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.
However, you should note that Representative Office shall not be permitted to carry out business activities for profit-making purposes on its behalf in Vietnam.
Notwithstanding this, the representative office is entitled to rent office, purchase equipment or facitilies and recruit employee for its operation in Vietnam. Last but not least, the parent company can authorize the Chief of Representative Office to negotiate and sign contract with local partner in Vietnam on the behalf of the Parent Company and the parent company does not need to inject any capital into the Representative Office. The validity term of License for Establishment of Representative Office is 5 years only.
Total time for establishment of Representative Office in Vietnam is from 15 working days from submission of application dossier to the competent authority.
2. Establishment of a wholly foreign invested company:
You can establish a wholly foreign invested company to do business in Vietnam. With this business line, it can directlydo businessfor profit purpose.
Time for establishment of wholly foreign invested company as mentioned herein is from 01 month to 02 months fron submission of application dossier to the competent authority.
3. S&B Law’s Qualification and Service:
3.1. Our Capacity
We believe that S&B Law is well-positioned to assist investorswith the legal procedures in establishing the above form in Vietnam for following basis:
n Highly skilled and experienced consultants and lawyers with high ability to assist client regarding to approach business goals in Vietnam.
n Experience of S&B Law in assisting client for obtaining license for export right in Vietnam.
n S&B Law has successfully assisted a large number of Foreign Investors for carrying out projects, company formation.
3.2. Scope of services
SCOPE OF SERVICES
|Preparation of the application documents: