Benefits of establishing a Branch Office in Vietnam with Cekindo
A Branch Office in Vietnam –What you need to know
A Branch is an extension of a foreign parent company that has already been in existence for at least 5 years. A branch office in Vietnam has complete authority to earn revenue, issue invoices, and hire employees, among other things.
How a Branch Office works in Vietnam
Branch Office Structure
Smaller divisions of the company’s core departments, such as human resources, marketing, accounting, and so on, as well as their activity-specific divisions, make up branch offices. These divisions are responsible for the administrative and operational parts of the company at their many locations across the country and around the world. Certain activities, such as accounting services, price assessment services, credit rating services, commodity exchange operations, and so on, do not enable the registration of a branch.
A branch must have one legal representative in Vietnam, the branch manager, who is responsible for the day-to-day operations. The branch manager is in charge of all branch functions, including the recruiting of new personnel and the productivity of all divisions, ensuring that all goals and objectives are reached on time.
Registration Process & needs
Normally, it takes one month to register a branch after the application and accompanying paperwork are submitted. Obtaining the registration certificate and the branch’s seal is the first step in the procedure.
In order to open a branch in Vietnam, the parent business must provide documentation proving the parent company’s formation, such as:
All paperwork must be legalized and translated into Vietnamese, which can take up to two weeks but is something Cekindo can handle in a few of days.