Hiển thị các bài đăng có nhãn Establish representative office in Vietnam. Hiển thị tất cả bài đăng
Hiển thị các bài đăng có nhãn Establish representative office in Vietnam. Hiển thị tất cả bài đăng

Thứ Ba, 20 tháng 11, 2018

Decree: Amending certain decrees on investment and business requirements, and administrative procedures in the information and communications sector

Amendments to and abrogation of certain articles of the Government’s Decree No. 195/2013/ND-CP dated November 21, 2013 on elaboration and implementation of the Law on publishing

1. Clause 1 Article 7 is amended as follows:

a) Point a Clause 1 is amended as follows:

“a) The application for the license for establishment of representative office shall be made in Vietnamese (if a foreign language document is submitted, it must be translated into Vietnamese and legally notarized) and submitted to the Ministry of Information and Communications. The application includes: The application form for the license; the written certification granted by a foreign competent authority certifying that the publishing house or the publication distribution company (the applicant) lawfully operates in the country where its head office is located; the certified copies or the copies presented with their originals for verification purpose of bachelor’s degree or academic qualifications of higher level, the criminal record and the family register or documents proving the lawful residence in Vietnam of the head of the representative office, issued by competent authorities of Vietnam;"


b) Point b Clause 1 is amended as follows:

“b) Within 20 business days from the receipt of a complete application, the Ministry of Information and Communications shall issue the license for establishment of the representative office to the applicant; in case of refusal, a written response in which reasons for such refusal are indicated must be given to the applicant.

If an application submitted through the Internet or postal service is incomplete or contains incorrect forms of documents, within 03 business days from the receipt of the application, the Ministry of Information and Communications (the Agency of Publication, Print and Release) shall inform and instruct the applicant to modify the application either by telephone, email or fax.

A license for establishment of representative office is valid for 05 years from the date of issue and may be extended provided that each extension shall not exceed 05 years.”

2. Point c Clause 2 Article 7 is amended as follows:

“c) Within 07 business days from the receipt of a complete application, the Ministry of Information and Communications shall re-issue or extend the license for establishment of the representative office; in case of refusal to re-issue or extend the license, a written response in which reasons for such refusal are indicated must be given to the applicant.”

3. Point a Clause 1 Article 8 is amended as follows:

“a) It must have a head office of adequate area meeting relevant regulations on standards of working offices;”

4. Clause 1 Article 9 is amended as follows:

a) Point a Clause 1 is amended as follows:

“a) Before appointing the general director (or director) or the editor-in-chief of a publishing house, the agency in charge of managing such publishing house must submit an application for approval from the Ministry of Information and Communications. The application includes: The application form for approval of the personnel appointment; the resume of the to-be-appointed person; the certified copy or the copy presented with its original for verification purpose of the bachelor’s degree or higher of the to-be-appointed person;”

b) Point c Clause 1 is amended as follows:

“c) Within 15 business days from the receipt of a complete application, the Ministry of Information and Communications shall give or refuse to give a written approval for the appointment, dismissal or discharge of the general director (or director) or the editor-in-chief of a publishing house.”

5. Point b Clause 2 Article 13 is amended as follows:

“b) With respect to documents proving production space: The certified copy or the copy presented with its original for verification purpose of the certificate of land use rights or the contract or any documents proving the land allocation or lease of land, premises or workshop."

6. Clause 2 and Clause 3 Article 14 are amended as follows:

a) Point b Clause 2 is amended as follows:

“b) Within 20 business days from the receipt of a complete application, the Ministry of Information and Communications shall issue the license to import publications to the applicant; in case of refusal, a written response in which reasons for such refusal are indicated must be given to the applicant.”

b) Point b Clause 3 is amended as follows:

“b) Within 07 business days from the receipt of a complete application, the Ministry of Information and Communications shall re-issue the license to import publications to the applicant; in case of refusal to re-issue the license, a written response in which reasons for such refusal are indicated must be given to the applicant.”

7. Article 17 is amended as follows:

a) Point a Clause 1 is amended as follows:

“a) It must have a server located in Vietnam;”

b) Clause 2 is amended as follows:

“2. Requirements regarding technicians in charge of operating and managing the publishing and distribution of e-publications are laid down in Point a Clause 1 and Point a Clause 2 Article 45 of the Law on publishing. To be specific:

They must complete training courses in Information Technology.”

c) Point b Clause 3 is amended as follows:

“b) Technical measures must be adopted to prevent unauthorized access via the Internet;”

8. Point b Clause 2 Article 18 is amended as follows:

“b) Within 15 business days from the receipt of the documentation of registration of e-publication publishing or distribution, the Ministry of Information and Communications shall examine the implementation of the Scheme and give a written certification of registration of e-publication publishing or distribution to the applicant; in case of refusal, a written response in which reasons for refusal are indicated must be given to the applicant;”

9. The following regulations of the Government’s Decree No. 195/2013/ND-CP dated November 21, 2013 on elaboration and implementation of the Law on publishing shall be abrogated:

a) Point c Clause 1 Article 6;

b) Clause 3 Article 8;

c) Points b, c, e Clause 1 Article 17;

d) Point a Clause 3 Article 17;

dd) Clause 5 Article 17.

Source: Thuvienphapluatvn

Chủ Nhật, 26 tháng 3, 2017

10 Questions to Ask Before Setting-up Company in Vietnam

Foreigners are encouraged to make investment in Vietnam through direct investment by Setting up company in Vietnam.
However there are restrictions in some cases in regard to investment capital, investment area, special licenses required. The investor is suggested to consult with a law firm in Vietnam for advice and service offering.
Before setting up business in Vietnam, ask yourself the following questions:
1. Which business should I invest in Vietnam?
There are non-conditional investment areas and conditional investment areas.  Establishing company in the non-conditional investement areas are more simple than in conditional investment areas.  Investment in IT services, manufacturing, management consulting, business promotion are a few samples of non-conditional investment areas.  Example of conditional investment areas are real estate, trading, travel agencies, freight forwarding…which are more complicated with investment conditions.  Investment conditions might also be changed over the time depending on the WTO commitments which Vietnam enters.
2. What should I name the business in Vietnam?
The company in Vietnam has to have Vietnamese name, and English name. The company could also have abbreviated name.  The name of the company in Vietnam indicates the structure of the company, the business lines, and the name that differentiate against other businesses.  For instance, the company could be named Alpha consulting limited liability company.
3. Where should I register the address of the business in Vietnam?
Not every address could be used to register a company.  The address has to be an address of a house with leasing agreement or office building which owner has license to operate as office building.
4. What is the legal structure of the company?
Depending on the number of investor contributing capital, company could be set-up as one member limited liability company or two ore more member limited liability company or joint stocks company.
5. How much capital is required to set-up a company in Vietnam?
The investment amount depends on the business plan and is subject to the approval of the provincial Department of Planning and Investment evaluating application dossier. In some business areas like real estate, banking and finance, minimum capital is required. In general for non-conditional investment area, the law does not specify the minimum capital to establish a company in Vietnam however the State agencies that evaluate investment plan could reject the investment project which are not feasible. Bank statement in foreign banks could be used to prove sufficient fund of investment capital.
6. Whom will be legal representative and work permit in Vietnam?
The investor will need to appoint the legal representative in Vietnam to oversee the business performance and take legal responsibility in Vietnam. If the legal representative is an expatriate, whom is a capital contributing member or owner of a limited liability company or a member of the Board of Management of a shareholding company which is registered to operate in Vietnam, he or she will be exempted from work permit in Vietnam. Otherwise, he or she will need to have a work permit to work in Vietnam legally.  The work permit holder would then apply for temporary residence card to live in Vietnam as long as the work permit allows.
7. How long does it take to set-up a company in Vietnam?
It depends on what type, scale, and whether or not conditions are required. For a simple minimum capital without conditions to set-up, it would take 30 working days. For setting up company in conditional investment areas i.e.  trading company in Vietnam, time would be lengthen due to the involvement of a number of State agencies approving the investment project and it would take 60 working days. For setting up company in other investments in areas requiring conditions to meet, time might be taken depending on the type of conditions and the government agencies evaluating the conditions of investment.
8. Whom will be granting the investment license in Vietnam?
For most of the investment projects, the provincial state agencies with the approval of the Department of Planning and Investment (DPI) will be granting the Investment Certificate in Vietnam. However, depending on the type, scale, and whether or not conditions are required, other Vietnam State agencies might be involved. For the case of trading company, ministry of trade and commerce, ministry of finance, provincial people’s committee will be reviewing the investment application dossier as well.
9. What are the tax liability in Vietnam?
Major taxes in Vietnam are corporate income tax, import and export tax, value added tax, and personal income tax in Vietnam. In some special areas, there are other taxes. The corporate income tax is currently at 22% and will reduce to 20% beginning 2016. Export is mostly encouraged as such the export tax is 0 however there are special cases when export tax is larger than 0. Import tax varies according to tariff. Value added tax is mostly at 10% however in some cases, VAT could be 5% or 0%. Personal Income tax varies according to income level and is applicable from VND 9,000,000 above.
10. What are mandatory reports submissions requirement in Vietnam?
Companies are required to keep accounting books, prepare and submit tax reports on monthly, quarterly and annually. Foreign companies are also required to have financial audit taken before the financial year end. The financial year in Vietnam is from January to December and the deadline to submit financial report is March 30th for the previous year. Other reports are required to be submitted at other State agencies.
Source: ANTLawyers.vn


Thứ Năm, 23 tháng 3, 2017

Conditions for Establishing Representative Office in Vietnam

Decree No. 07/2016 / ND-CP regulating the Commercial Law regarding representative offices and branches of foreign traders in Vietnam that have recently been issued by the Government.
Accordingly, foreign traders can establish their representative offices and branches in Vietnam under Vietnam’s commitments in international treaties to which Vietnam is a member. A foreign trader cannot establish more than one representative office or branch with the same name within a province or city under central authority.
Foreign traders are licensed to establish representative offices when they meet five conditions:
– Foreign traders can establish and register for business in accordance with law of nation and territories participating in international treaties in which Vietnam is a member, or recognized by the law of those nations and territories.
– Foreign traders that have been in operation for at least one year from the date of establishment or registration.
– In case the certificate of business registration or papers with equivalent value of the foreign traders have prescribed the time limit for operation, then the duration must be at least 1 year from the date of submitting record.
– The operation of the representative office must match the commitment of Vietnam in the international treaties in which Vietnam is a member.
– The case where the operation of the representative office is inconsistent with Vietnam’s commitments or foreign traders do not belong to any nations and territories participating in the international treaties in which Vietnam is a member, the establishment of representative offices must be approved by the Minister of specialized management.
The Decree also stipulates the conditions for foreign traders to be granted licenses to establish their branches. Specifically, foreign traders will be licensed for the establishment of branches when they meet 5 conditions:
– Foreign traders can establish and register for business in accordance with law of nation and territories participating in international treaties in which Vietnam is a member, or recognized by the law of those nations and territories.
– Foreign traders that have been in operation for at least five year from the date of establishment or registration.
– In case the certificate of business registration or papers with equivalent value of the foreign traders have prescribed the time limit for operation, then the duration must be at least 1 year from the date of submitting record.
– The operation of the branch office must be consistent with the market-opening commitments of Vietnam in the international treaties in which Vietnam is a member, and in line with the business lines of the foreign trader.
– If the content of the branch operation is inconsistent with Vietnam’s commitments or foreign traders do not belong to any nations and territories participating in the international treaties in which Vietnam is a member, the establishment of branches must be approved by the Minister of specialized management.
The license for the establishment of representative office and branch of foreign traders have a term of 5 years but does not exceed the remaining term of the certificate of business registration or papers of equivalent value of the foreign trader in the case that those papers contain provisions on the term.
Source: ANTLawyers