Our collection of resources based on what we have learned on the ground
Resources
Q&A
What can a Vietnamese representative office do?
- November 2013
- Free Access
The following functions are allowed legally to be carried out by representative offices in Vietnam: To function as a liaison office for a parent company and any of its subsidiaries; To promote the expansion of economic, trading, scientific and te...
Q&A
What parameters are used to evaluate the operation of representative office in V...
- November 2013
- Free Access
The operations of representative office can generally be reflected by the total number and value of its transactions, contracts and projects, as well as the total number of staff, during the operation year. But the following factors may be helpful in...
Q&A
Why should the representative office in Vietnam be upgraded?
- November 2013
- Free Access
A number of restrictions on representative offices may disadvantage their operations, namely: Representative offices are not allowed to sign contract directly with any clients without valid power of attorney from the parent company; Representativ...
Q&A
How to upgrade a Vietnamese representative office to other entities?
- November 2013
- Free Access
First, the legal form of the new entity must be considered and chosen. There are 3 entities that a representative office can upgrade to: A branch office; A 100% foreign-owned enterprise; or A joint venture with local partner. For the establis...
Q&A
What documents are needed to dissolve a company in Vietnam?
- November 2013
- Free Access
The owner of the company will need to issue a statement of the decision of dissolution, which must include: Company name; Head office address; Business registration number; Reason(s) for dissolution; Deadlines and procedures to work out the li...
Q&A
How should the company debts be settled in order to dissolve my company?
- November 2013
- Free Access
The company shall set up meeting to liquidate its assets. The subsequent minute of such meeting shall be comprised of: The time and place of the meeting; The establishment of the liquidation team; The complete list of assets owned by this compan...
Q&A
How to close a VIetnamese company that is registered with an import-export tax c...
- November 2013
- Free Access
The import-export tax code must be closed when the company is dissolved. Dissolution of company must follow the standard procedures, which may take around six months. During the dissolution of the company, a letter to the General Department of ...
Q&A
What steps are to be followed to close the import-export tax code after the lett...
- November 2013
- Free Access
The following steps are recommended: Destroy any financial balance invoices (value-added tax and/or export invoices) that have yet been issued; Finalize any overdue taxes; Finalize the personal income taxes and corporate income taxes requirement...
Q&A
What is to be done with the company's Vietnamese bank account if the company is ...
- November 2013
- Free Access
The bank account must be closed in accordance to the policies of the bank, which the bank account was opened. If there is no bank account to the company, then an issuance of statement, detailing that the fact. Thereafter, the company will need to se...
Q&A
What should be done with the employee contracts after closing a Vietnamese compa...
- November 2013
- Free Access
The dissolving company must inform its employees of the decision of dissolution within a certain time period prior the termination of their labor contracts. The time period varies as follows: Indefinite term labor contracts – notice of at le...
Q&A
What steps are to follow to deal with the social insurance obligations of the em...
- November 2013
- Free Access
The employee social insurance obligations must be completed prior to the dissolution of the company. Documented evidence must be submitted to the social insurance and business/investment registration agencies. If there has never been any paym...
Q&A
What are needed to be done to close a Vietnamese company after settling the fina...
- November 2013
- Free Access
After settling the financial reports, bank accounts, contracts and employees benefits, the company, then, must submit a dossier to the Department of Planning and Investment to notify of its dissolution. DPI is the authority that handles and issues th...
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