- 1. What is a representative office license in Vietnam?
- 2. Can I extend the license?
- 3. What is the procedure to extend a representative office license in Vietnam?
- 4. Can I amend the license?
- 5. What if I want to move to another location? Is license regranting available?
- Set up a Representative Office in Vietnam with Cekindo
A foreign company planning to expand its business in Vietnam can benefit substantially by setting up a representative office.
For example, no capital is required and you are allowed to open a bank account in the country. Furthermore, you can hire both local and foreign employees and handle sales and delivery under your parent company.
Investing in Vietnam? See Cekindo’s Company Incorporation Services
An important thing about a representative office in Vietnam is its license. Below are the most commonly asked questions regarding representative offices and their required license in Vietnam.
1. What is a representative office license in Vietnam?
A representative office license in Vietnam is a document granted for foreign investors to set up a legal office known as a representative office in the country.
The representative office license is required to be renewed once every two years or five years.
2. Can I extend the license?
The extension of a representative office license is possible when you apply for it.
The extension submission shall include a complete application form along with a copy of the certificate of business registration, a copy of the audited financial statement, a copy of the existing representative office, and other relevant documents.
3. What is the procedure to extend a representative office license in Vietnam?
Below is the procedure to establish a representative office in Vietnam:
- Apply for the extension of the representative office license at least 30 days before the expiration of the existing license.
- Submit the extension application to the nearest licensing agency where the representative is located online or by mail.
- The licensing agency will verify the validity and completeness of the application within 3 business days upon the receipt of the application. The agency shall request the application for supplementary documents if the application is found incomplete.
- Once the application is approved, the applicant shall receive the extension license from the licensing agency within 5 business days. If the application is rejected, the applicant will receive a written notice where the reasons for rejection are stated.
RELATED: Everything You Need To Know To Set Up a Company in Vietnam
4. Can I amend the license?
Yes, you can amend a representative office license when one of the following circumstances occur:
- Change of foreign business address
- Change of foreign trader’s name
- Change of the chief of the representative office
- Change of representative office’s name
- Change of representative office address
You should also prepare a dossier set for the amendment based on the nature of the change. All documents must be legally certified and translated into Vietnamese:
- Change of business name or address: certified proof of a change of foreign business address or name
- Change of representative office chief: proof of appointment of foreign new representative office chief; a copy of passport or identity card; proof of fulfillment of tax obligations by the former representative office chief
- Change of location: a copy of lease agreement or proof of the right of use of the location for representative office; and documents related to the proposed new location of the representative office
5. What if I want to move to another location? Is license regranting available?
You are allowed to move your representative office in Vietnam to another location with a regrant of representative office license.
However, the location switch is restricted to the following cases only:
- The representative office relocates to another territory or province in Vietnam that is within another management board’s administration
- The representative office license is damaged, lost, or destroyed
Set up a Representative Office in Vietnam with Cekindo
Setting up a representative office in Vietnam provides many benefits to any new or growing business, such as easy setup and management, low cost, full foreign ownership, and physical presence.
Cekindo helps foreigners who are looking to expand their business to set up representative offices in Vietnam in a few simple steps.
Let us handle the process accurately and quickly on your behalf, so you can focus on growing your business.
Contact Cekindo directly and one of our professional consultants will walk you through the process.
Fill in the form below.