Conditions for granting representative
offices
and branches establishment permits
On 25 July 2006, the Government issued
Decree No.72/2006/ND-CP “Decree” detailing the Commercial Law regarding
Vietnam-based representative offices and branches of foreign traders.
Accordingly, the Decree regulated conditions for granting representative
offices and branches establishment permits as follow:
- A foreign trader shall be
granted a permit to establish in Vietnam its representative office when fully
satisfying the following conditions:
+ Being a trader recognized by the
law of the country or territory where it has been lawfully established or made
its business registration;
+ Having been operating for at least
one year after its lawful establishment or business registration in its
country.
- A foreign trader shall be
granted a permit to establish in Vietnam its branch when fully satisfying the
following conditions:
+ Being a trader recognized by the
law of the country or territory where it has been lawfully established or made
its business registration;
+ Having been operating for not less
than five year after its lawful establishment or business registration in its
country.
- Permits for establishment of
Vietnam-based representative offices or branches of foreign traders shall each
have a valid term of 05 (five) years, which must, however, not exceed the
remaining valid term of such foreign traders’ business registrations or papers
of equivalent value in case foreign laws specify valid terms of business
registrations of foreign traders.
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