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Foreign Company with 1 Operation Year Has Representative Office in Vietnam?
Update: 21/2/2017 | 4:08:42 PM - Dragon Law Firm
Lawyers in Hanoi provide new information: foreign company with 1 operation year can have representative office in Vietnam.
Decree No.07/2016/ND-CP, effect from March 10th 2016, regulated foreign traders are allowed to set up representative offices, its branches in Vietnam under commitment of Vietnam in the international treaties to which Vietnam is a member.
To be granted a license for establishment of branches and representative offices in Vietnam, foreign traders must be established, business registration in accordance with national law and territories which Vietnam participates in the international treaties … ; operation content of representative offices and branches must be consistent with Vietnam's commitments in international treaties to which Vietnam is a member ...
In particular, foreign traders must operate at least 01 years from the date of establishment or registration if the request for the establishment license of representative office or has been operating for at least 05 years in case of request for branch establishment.
According to the Decree, the license for establishment of representative office, branch of foreign traders have a term of 05 years but does not exceed the remaining term of the business registration certificate or valuable papers equivalence of foreign traders in case that papers contain provisions on the time limit.
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