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ESTABLISHMENT OF REPRESENTATIVE OFFICES OF FOREIGN LOGISTICS COMPANIES IN VIETNAM
In the era of globalization, the expansion of business operations abroad is an important step to strengthen the competitiveness and development ability of companies. In particular, in the field of logistics, having a representative office in potential markets is essential to build relationships with local partners, customers and suppliers as well as to seize new business opportunities. In the article below, Siglaw would like to outline the necessary procedures to establish a representative office of a foreign logistics company in Vietnam – one of the fastest growing logistics markets in the Asia-Pacific region.
What is a representative office of a foreign logistics company?
According to Clause 2, Article 44 of the Enterprise Law 2020, a representative office is a dependent unit of an enterprise, responsible for representing by authorization the interests of the enterprise and protecting those interests.
Logistics services are commercial activities whereby traders organize to perform one or more tasks including receiving, transporting, warehousing, warehousing, customs clearance, other paperwork, customer consultation, packaging, marking, delivery or other services related to goods as agreed upon by customers to enjoy pay.
Thus, it can be understood that the representative office of a foreign logistics company in Vietnam is a dependent unit of a foreign logistics company, established and conducting commercial activities in Vietnam in accordance with the provisions of Vietnamese law or under international treaties to which Vietnam is a contracting party. Representative offices of foreign logistics companies in Vietnam are intended to support and market foreign logistics companies and not carry out business or commercial activities, transactions. Representative offices of foreign logistics companies in Vietnam also have rights and obligations in accordance with Vietnamese law.
Conditions and duration of the license for establishing a representative office of a foreign logistics company in Vietnam
In order to be approved and granted a license to establish a representative office of a foreign logistics company in Vietnam, traders need to meet the following conditions:
- Being established and operating in accordance with the laws of countries and territories acceding to international treaties to which Vietnam is a contracting party or recognized by these countries and territories;
- Having had at least 05 years of operation in the field intended to establish a representative office, from the date of establishment or registration;
- For cases on the business registration certificate stating the business term, at the time of applying for a license to establish a representative office of a logistics company in Vietnam, the remaining term on the business registration certificate must be at least 01 year.
- The contents and operations of representative offices must be consistent with Vietnam’s opening commitments in treaties to which Vietnam is a contracting party, in accordance with Vietnamese culture and practices and business lines of logistics companies.
The license for establishing a representative office of a foreign logistics company in Vietnam in particular and foreign traders in general is 05 years (except for the case of a definite business registration license)
Procedures and dossiers for establishment of representative offices of foreign logistics companies in Vietnam
To establish a representative office of a foreign logistics company in Vietnam, the steps to follow are as follows:
- Prepare documents and apply for licenses: After making a decision to establish a representative office in Vietnam, foreign logistics companies need to prepare documents at the request of state management agencies. The records include:
+ An application form for a license to establish a representative office according to the form of the Ministry of Industry and Trade signed by a competent representative of a foreign trader;
+ A notarized copy of the business registration certificate of the parent company or equivalent document that has been certified or consular legalized by the diplomatic or consular mission of Vietnam in addition to NC;
+ A notarized copy of the audited financial statements of the parent company in the latest fiscal year or papers of equivalent value issued by foreign competent agencies to certify and prove the existence and operation of the foreign logistics company in the latest fiscal year;
+ Decision on appointment/recruitment of heads of representative offices;
+ A notarized copy of the lease contract or use of the working location of the representative office;
+ A notarized copy of the operation charter of the representative office;
+ Notarized copy of ID card/Passport of the head of the representative office.
These documents need to be translated into Vietnamese and notarized according to regulations. After obtaining all documents, the foreign logistics company needs to submit the dossier to the Ministry of Industry and Trade to apply for a license to establish a representative office. Application processing time is about 07 working days.
Thus, we have presented the steps to establish a foreign logistics company representative office in Vietnam. Thereby, customers can understand the legal requirements, conditions, administrative procedures and time required to complete this position. Siglaw also hopes that the article will provide customers with useful knowledge to be able to expand their business in this vibrant and attractive logistics market.
Above are our consultants to establish a representative office of a foreign study abroad consulting company in Vietnam. If you have any questions. If you have any questions related to the establishment and operation of a representative office of a foreign study abroad consulting company in Vietnam, please contact Siglaw Law Firm Limited for our most detailed answers!
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