Foreign entities can set-up company or branch offices in Vietnam to carry out business activities.
There are several main different aspects between opening a branch office or establishing a foreign owned company in Vietnam.
Conditions
Permits for establishment of Vietnam-based branches of foreign enterprise shall each have a valid term of five years.
Foreign enterprise must choose between establishing a 100% foreign capital enterprise or forming a joint-venture with domestic investor or company.
Certificate
The Branch office needs to apply and obtain the operation license of a Branch;
A foreign owned company will need to apply and obtain the investment certificate (“IC”) to operate in Vietnam.
Capital
Other matters
For branch office setting up in Vietnam, the procedure is less complicated compared to those for the establishment of a 100% foreign owned company; the branch office is able to carry out trading and some other activities as stipulated by Vietnam laws and the WTO commitments which Vietnam enters. The business lines of a branch have to be aligned with the business lines of the headquarter of the foreign entity.
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