Setting Up Representative Office in Vietnam
For many foreign investors, setting up a representative office in Vietnam is common. There are many benefits to it depending on how you manage. In general, foreign investors can open their representative offices and branches. Additionally, they may also establish foreign investment-funded enterprises. As for their licenses, there are various ministries responsible for them such as The Ministry of Industry and Trade.
Representative offices of foreign investors are not authorised to perform direct profitable business in Vietnam. However, they may perform trade promotion activities within the constraints of the Law only. Should you need to perform actual business in Vietnam, then you may consider setting up a foreign company in Vietnam instead.
Branches of foreign investors in Vietnam are allowed to:
- Perform goods’ trading business
- Perform other commercial activities in accordance with their establishment licenses
- Open accounts in Vietnam and transfer their profits abroad
There are many things to consider when it comes to the selection of licenses to acquire. And these all depends on the goals and planning from you and your company. At Vietnam Legals, we are here to listen, guide and assist you in your planning. Establishing a root here should never be difficult with us around.
For more information on setting up Representative Office in Vietnam, please contact us here.