The representative office (RO) is a popular foreign investment vehicle which investors utilize when wishing to enter the Vietnamese market without committing too much investment. The representative office of a foreign trader means a dependent unit of the foreign trader, which is established under the provisions of Vietnamese law to conduct market survey and a number of commercial promotion activities permitted by Vietnamese law.
The functions of representative office comprise:
(i) Performance the function of liaison offices
(ii) Carrying out market research in order to promote opportunities to buy or sell goods, provide and use commercial services of traders they represent.
(iii) Monitoring and urge of the performance of contracts signed with Vietnamese partners by foreign traders they represent.
The dossier for obtaining RO License including as follows:
(i) An application for representative office establishment License, made according to a form set by the Industry and Trade Ministry and signed by the foreign trader’s competent representative;
(ii) Copies of the foreign trader’s business registration or papers of equivalent value consularly legalized according to Vietnam Laws;
(iii) A appointment Letter of the head of the representative office;
(iv) The copy of audited financial statements or certificates of fulfillment of tax liabilities or financial obligations of the last fiscal year or equivalent documents as proof of existence and operation of the foreign trader issued or certified by competent authorities where such foreign trader is established;
(v) Copy of passport of Head of Representative Office;
(vi) Copy of office leasing contract to set up representative office as proof of the right to use a location as the representative office;
Within 07 working days from the date of receipt of a complete and valid application the Department of Industry and Trade shall grant or refuse to grant a license for establish a representative office for foreign trader. In case of refusal, the reasons must be clearly stated in writing.
INTRACO LAW FIRM
No. 413, 4th Floor, B15, Dai Kim – Dinh Cong
Hoang Mai, Ha Noi, Vietnam
Tel: 84-24-62842684/5; (ext: 101)