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Establishment of overseas branches of Vietnamese companies
The establishment of Vietnamese company branches abroad will face complex challenges and aspects, especially the need for extensive research and knowledge about the legal systems of the countries where Vietnamese enterprises want to set up branches.
What are overseas branches of Vietnamese companies?
Based on the provisions of Article 44, Clause 1 of the Enterprise Law 2020, a branch of a Vietnamese company abroad is determined to be a dependent organization of the enterprise. This branch is responsible for performing all or part of the functions of the Enterprise, including the function of authorized representative.
Conditions for establishing branches of Vietnamese companies abroad
Based on the provisions of Article 45, Clause 1 of the Enterprise Law 2020, Vietnamese enterprises have the right to establish company branches in foreign countries.
Along with that, according to the provisions of Clause 4 Article 31 of Decree 01/2021/ND-CP, the process of establishing overseas company branches requires compliance with the laws of the country where the enterprise regularly branches.
Establishment of overseas branches of Vietnamese companies
Procedures for establishing Vietnamese company branches abroad
Step 1: Prepare the dossier and submit the dossier for branch establishment according to the regulations of the country where the investor establishes the branch.
Step 2: Prepare the dossier of Notice of branch establishment for the agency in Vietnam
According to the provisions of Clause 4 Article 31 of Decree 01/2021/ND-CP, after officially establishing a branch of a Vietnamese company abroad, the Company must notify in writing to the Business Registration Office under the Department of Planning and Investment at the place where the Company’s head office is located within 30 days.
The dossier includes:
- Form of Notice of Establishment of Overseas Company’s Branch (Form according to Subsection 18 Section II of Circular No. 01/2021/TT-BKHDT);
- A copy of the branch operation registration certificate or equivalent document issued by the competent authority where the branch is located;
- Written authorization and personal legal papers of the person authorized to submit the application (in case the applicant is not the legal representative of the enterprise).
Step 3: Submit the Notice of Branch Establishment to the agency in Vietnam
Address: Business Registration Office, Department of Planning and Investment of the province and city where the company’s headquarters are located. For example:
- Hanoi Department of Planning and Investment: No. 258 Vo Chi Cong Street, Xuan La Ward, Tay Ho, Hanoi. Opening hours: 8:00-17:00 from 2nd to 6th.
- Department of Planning and Investment of Ho Chi Minh City: Quarter 2, An Khanh, Thu Duc, Ho Chi Minh City
- Department of Planning and Investment of Da Nang: No. 24 Tran Phu Street, Thach Thang, Hai Chau, Da Nang
Step 4: Get the result:
Within 3 working days from the date of receipt of a valid application, the Business Registration Office will update information about the branch in the National Business Registration Database.
Top 3 Vietnamese enterprises have opened branches abroad
Plus coffee
On July 31, 2018, Cong Coffee launched its first store in Korea on Yeonnam-dong Road, one of Seoul’s trendiest areas. Since welcoming his first guests, Cong immediately attracted the attention and love of young Koreans, and opened more branches in this country.
The reason that Cong Coffee is so popular is because of its unique, different, full of Vietnamese characteristics that cannot be confused with other modern Korean styles. In addition, it is also about competitive prices, while Cong only costs about 5500-6000 won / cup of water, Starbucks is up to 6000-7000 won.
Some of the Plus cafes in Korea that stand out are:
- Coffee plus in Yeonnam dong
- Coffee community in Itaewon
- Plus coffee at Hyundai Department Store
Trung Nguyen Coffee
Trung Nguyen Legend always strives to conquer the economic powerhouse of the US, China. The evidence is that Trung Nguyen’s branches in the US and China are still operating strongly in these two countries can be mentioned as:
- Trung Nguyen Legend: 9039 Bolsa Ave, Westminster, California, USA
- Zhongyuan Legend: No. 699 West Nanjing Road.
- Zhongyuan Legend: One East Mall, No. 788, Zhong Shan Nan Yi Road, Shanghai
Phuc Long Store
On 21/6, Phuc Long announced on the official fanpage about the plan to open the first store in the US: “It is very happy to announce the official appearance of Phuc Long with a cup of tea and coffee with typical flavors, will officially welcome customers at Phuc Long USA store in 07/2021 in Garden Grove, California, USA.”
The store conducted a trial sale from August 20 to 22 in Garden Grove, California, USA.
The store attracted a large number of visitors and enjoyed in the first days, especially with the notable presence of many Vietnamese fans. It is known that Phuc Long was born in 1968 in Bao Loc tea plateau. Over the 80s, the company opened its first 3 branches in Ho Chi Minh City. HCMC on Le Van Sy, Tran Hung Dao and Mac Thi Buoi streets, aiming to introduce pure Vietnamese tea and coffee products to both domestic and international customers. To date, this is a famous beverage brand, owning chain stores throughout the country and abroad.
Phone: (+84) 961 366 238
Email:
Headquarters: No.44/A32-NV13, Gleximco A, Le Trong Tan street, An Khanh, Hoai Duc, Ha Noi, Vietnam.
Southern branch: A9.05 BLOCK A, SkyCenter Building, 5B Pho Quang Street, Ward 2, Tan Binh District, Ho Chi Minh City, Vietnam.
Central branch: 177 Trung Nu Vuong, Hai Chau District, Da Nang City
Facebook: https://www.facebook.com/hangluatSiglaw
