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Establishment of the Vietnamese representative office and Local Corporation

Establishment of the Vietnamese representative office and Local Corporation

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Q&A stablishment of the Vietnamese representative office and Local Corporation

Incorporation team

Since AGS was established, through dealing with the various operations, we were accumulating plentiful knowledge and solution on the field of incorporation kind and staying kind. Especially, regarding the establishment of local corporations and representative offices, we have proven track record in various industries and business forms, and we are providing flexible support according to customer’s request. From basic consultation before establishment, not only various proxy procedures such as acquisition of license change of contents, addition acquisition, establishment and closing of office, contents check of required documents, translation to Vietnamese, We support a wide range of services including support for procedures. We have a certain connection with the authorities, so if you have any troubles with procedures related to establishment and staying, please do not hesitate to contact us.

1. Establishment of the Local Corporation.

Procedure for establishing a local corporation

Investment form (As of July 1, 2015) According to the common investment law, foreign investors can invest in Vietnam in one of the following forms. [Based on common investment law] Establishment through corporate investment
  • Investment through corporate investment, equity acquisition
  • Investment through PPP agreement: sign a contract with each authority. Including BOT, BTO, BT, BOO, BTL, BLT, O & M
  • Investment through BCC agreement (management cooperation agreement)
【By Commercial Code】
  • Representative Office
  • Branch
  • Processing consignment (OEM)
Procedure
1. Preparation of necessary documents 2. Preparation of necessary documents 3. Sign・seal
Customer AGS Customer
· Information Questionnaire · Register, settlement accounts etc. (required notary certification) · Translation of Japanese corporate documents · Creation of document (Japan · Vietnam) · Confirmation of Japanese version documents · Sign and seal on Vietnamese version document · Post to AGS
4. Submit (Step 1) 5. Review (Step 1) 6. Submit (Step 2)
AGS Authority AGS
· Submission to authority · Confirmation of deadline · Review, confirmation of matters pointed out (about 3 months) · Submission to the authority · Due date confirmation
7. Review (Step 2) 8. Establishment completed 9. Start-up procedure
Authority Customer AGS
· Review, confirmation of matters pointed out (about 3 months) · Delivery of investment licenses and corporate licenses · Start business · Create seal (company seal) · Posted on portal site
 

Assumed schedule

3 months to 6 months and a half (depending on industry type and application content)

Required Documents

* Documents to be prepared by the customer himself / herself
  • Parent company’s registry
  • Parent company’s closing account statement for the last two terms
  • Parent company’s balance statement
  • Passport of the legal representative of the parent company
  • Passport of the legal representative of the local corporation
  • Rental contract related
  1. A) Office lease contract
  2. B) License of the owner (Real estate is required)
  3. C) Land ownership, building ownership The Company’s articles of incorporation

Points to remember

  • Definition of business contents is important: Nothing other than business contents stated in investment license certificate cannot execute
  • It takes time to establish if the business contents and the HS code are diverse
  • After establishment, it is possible to change the license as necessary
  • Required submission of lease related documents at the time of application: Lease contract, land ownership certificate of the lender, property license right of the lender, license certificate of the real estate of the lender
  • Legal representative decision: a legal representative stated in the company license certificate (it is common for the president or president to become the legal representative). It is possible for the president of the parent company to concurrently serve, but the director of the representative office cannot be concurrently
  • Legal Representative’s obligation: Resident obligation. Basically it is kept in mind that you live in Vietnam. Practically, if you leave Vietnam for more than 30 days, you must delegate the authority of a legal representative to another person in

One stop service after establishment

Accounting, auditing, tax support Legal work・labor support personnel introduction support stop service

2. Establishment of the representative office

Establishment of the representative office

Required Documents
  • Latest registry
  • Latest audited accounts
  • Passport of the resident office manager
  • Office Lease Agreement
  • Power of attorney (documents submission agency)
  • Other
Assumed schedule 2 months – 3 months Points to remember Support
  • Preparation and translation of application forms, translation of licenses, registration of tax codes in the Public Security Bureau, creation of seal stamps, preparation of documents for opening bank accounts
  • Accounting service (separate contract)
  • Legal・labor (separate contract)
  • Other
* Required documents also differ due to law change etc. Please contact us for details.

Change in license of the representative office (address change)

Required Documents
  • Latest license of Representative Office
  • Lease agreement
  • Parent company’s latest registry
  • Other
Assumed schedule 1 month – 1 month and a half Points to remember Report to the authorities within 60 days from address change date Support
  • Preparation and translation of applications, confirmation of rental agreement, translation of renewal license
  • Other
※Required documents also differ due to law change etc. Please contact us for details.

License change of representative office (change director)

Required Documents
  • Latest license of Representative Office
  • Personal tax payment obligation completion certificate of the current director of the representative office
  • Proof photo of the new director of the representative office (4 x 6 cm)
  • New passenger’s passport at the representative office (face page, a page with a Vietnamese visa)
  • Other
Assumed schedule 1 month – 1 month and a half Points to remember Report to the authorities within 60 days from the date of delegation of the new representative office director Support
  • Preparation and translation of application forms, translation of renewal licenses
  • Accounting service (separate contract)
  • Other
※Required documents also differ due to law change etc. Please contact us for details.

License renewal of Representative Office (extension of license expiration date)

Required Documents
  • License for Representative Office
  • Passport of the Representative Office Director
  • Passport of the legal representative of the parent company
  • Audited accounts of parent company
  • Parent company’s latest registry
  • Other
Assumed schedule 1 month – 1 month and a half Points to remember The application for renewal must be submitted at least 30 days before the maturity of the establishment license Support
  • Preparation and translation of application forms, translation of renewal licenses
  • Accounting service (separate contract)
  • Other
* Required documents also differ due to law change etc. Please contact us for details.

Closure of Representative Office

Required Documents
  • Latest license of Representative Office
  • Closure notice of Representative Office
  • Tax code registration certificate of the representative office
  • Certificate of stamp of the representative office
  • Parent company’s latest registry
  • Passport of the director of a representative office
  • Current Director of Representative Office · Certificate of personal tax payment obligation of workers
  • Confirmation that you have completed debt and other obligations to the organization, individuals
  • Confirmation of completion of obligation to workers
  • Lease contract cancellation note
  • Confirmation of close of bank account
  • Other
Assumed schedule About 6 months Points to remember Closure application must be submitted one month before closing decision date Support
  • Preparation and translation of applications, return of stamps
  • Accounting service (separate contract)
  • Other
※Required documents also differ due to law change etc. Please contact us for details.

Actual product

Industry Case Region
Watch sale License translation · Branch establishment HCM
Manufacturing industry Expansion, establishment of branch office HCM
Housing material trading company Change director name HCM
Specialized trading company Add license HCM
Interior construction Establishment of a representative office HCM
Sales of laser equipment Changing information of parent company · Change of overseas affiliate name HCM
Textile trading company Add license HCM
Wood processing Establishment of current law HCM
Manufacturing industry Company name change, change in investment amount HCM
Processed Food Production Capital increase HCM
trading company ライセンス追加 Add license Binh Duong
Manufacturing industry Capital raising procedure, WP HCM
Manufacturing industry Opening procedure HCM
Manufacturing industry Add license, WP, TRC HCM
Housing material trading company Establishment of a representative office HCM
restaurant Establishment of eating and drinking establishment in ion, WP HCM
consulting Establish local subsidiary, apply for WP exemption HCM
Transportation industry Establish local subsidiary, WP HCM
Manufacturing industry Addition of license, third party allotment increase HCM
Chemical trading company Add license HCM
Manufacturing industry Establish local subsidiary, WP Binh Duong
Manufacturing industry Add license HCM
Textile trading company Dependent branch establishment HCM
IT TRC update, TRC new acquisition HCM
IT Establish local subsidiary, WP HCM
Textile trading company address change HCM
Manufacture and sale of tools Parent company name change HCM
trading company Established Hanoi branch, added license HN
Construction material trading company Established subsidiary, WP, TRC HCM
Manufacturing industry Establishment of a representative office HCM
Paper product trading company Representative office closed HCM
Manufacturing industry Establishment of a representative office, WP HCM
trading company Add license HCM
Manufacturing industry Add license, WP, TRC HCM
Paper product trading company Change representative office of Representative Office HCM
Water treatment Branch establishment, license addition HCM,HN
Trading company Establish local subsidiary HCM
Manufacturing industry Establish local subsidiary, WP, license addition HCM
IT Establishment of a representative office HCM
Manufacturing industry Local subsidiary established, WP, TRC · family TRC HCM
Textile trading company Establish local subsidiary, WP HCM,HN

Reference cost in Vietnam business

Office rent (Ho Chi Minh) / Month:
  • Grade A: 30 to 35 USD
  • Grade A: 17 to 20 USD
  • Grade A: 9 to 15 USD
Personnel expenses (Ho Chi Minh) / Month:
  • Industrial workers: 173 USD
  • Industry Manager: 810USD
  • Non-industrial workers: 512 USD
  • Non-industrial manager: 1,193 USD
Water bill/m3
  • Factory: 0.2895USD
  • Business: 0.3714USD
Electricity charge/m3
  • Factory: 0.424 – 0.452USD
  • Service: 0.5-0.643USD
Taxi first ride (Ho Chi Minh):
0.56USD
Taxi 1 km (Ho Chi Minh):
0.66USD
Gasoline 1 L (Ho Chi Minh):
1.2-1.3USD
Mineral water 500ml (Ho Chi Minh):
0.32USD
5☆ Hotel / night (Ho Chi Minh):
150-217USD
4☆ Hotel / night (Ho Chi Minh City):
47-137USD
Mobile phone communication expenses / month:
15USD
Cost of Doing Business in Vietnam(計画投資局HP)より抜粋
Rep Office and Enterprise Registration, Amendment of investment lisences, Work Permit (WP), VISA,Temporary Residence Card (TRC)Click here for more information
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