Adjustment of branch establishment license for foreign traders in bac giang

Adjustment of branch establishment license for foreign traders in bac giang

Branches of foreign traders have been established in Vietnam, but are in the process of operation due to a change in the name, address, head officer… license to establish a branch following the law of Vietnam. If this procedure is not carried out, branches may be administratively sanctioned depending on the seriousness of the violation

Bac Giang is a province that gathers many industrial areas and foreign investors. What is the order and procedure for branches of foreign traders who want to adjust the branch establishment license? Is there any difference compared to the procedure in other provinces?

In the following article, Van Luat will provide customers with the most basic information about the procedure for adjusting the license to establish a branch for foreign traders in Bac Giang province:

Legislation

+ Commercial Law 2005 dated June 14, 2005

+ Decree 07/2016/ND-CP detailing the Commercial Law on representative offices and branches of foreign traders in Vietnam

+ Circular 11/2016/TT-BCT stipulating the implementation form of Decree No. 07/2016/ND-CP dated January 25, 2016, of the Government detailing the Commercial Law on Representative Offices and Branches of foreign traders in Vietnam

+ Decree 98/2020/ND-CP stipulating penalties for administrative violations in commercial activities, production and trading of counterfeit and banned goods, and protection of consumers’ interests

What is a representative office for foreign traders?

Representative offices of foreign traders in Vietnam are dependent units of foreign traders, established under Vietnamese law, to study the market and carry out some trade promotion activities, which are permitted by Vietnamese law.

Adjustment of branch establishment license for foreign traders in bac giang
Adjustment of branch establishment license for foreign traders in bac giang

Rights of a representative office

Representative offices of foreign traders have the following basic rights:

+ Right to establish representative offices of foreign traders in Vietnam

+ Foreign traders are allowed to establish representative offices according to Vietnam’s commitments in international treaties to which Vietnam is a contracting party.

+ A foreign trader may not establish more than one representative office within a province or centrally run city.

+ To operate for the right purposes, scope, and time limit specified in the representative office establishment license.

+ Renting the head office, renting and purchasing the necessary means and supplies for the operation of the representative office.

+ Recruiting Vietnamese and foreign workers to work at representative offices by Vietnamese law.

+ Open an account in foreign currency, in Vietnamese dong with foreign currency origin at a bank that is licensed to operate in Vietnam and may only use this account for the operation of the Representative Office.

+ Having a seal bearing the name of the representative office following Vietnamese law.

+ Other rights as prescribed by law.

Obligations of a Representative Office

Along with the above-mentioned rights, a representative office of a foreign trader has the following obligations:

+ Not to conduct profit-making activities directly in Vietnam.

+ To carry out trade promotion activities only within the scope permitted by this Law.

+ Not to enter into contracts, amend or supplement signed contracts of foreign traders, unless the head of the representative office has a lawful power of attorney from the foreign trader or the cases specified in Clause 1 of this Article. Clauses 2, 3, and 4, Article 17 of the Commercial Law 2005.

+ Pay taxes, fees and fulfill other financial obligations under Vietnamese law.

+ Report on the operation of the representative office under the law of Vietnam.

+ Other obligations as prescribed by law

Cases of adjusting the branch establishment license for foreign traders in Vietnam

Foreign traders must carry out procedures for adjusting the License for Establishment of Representative Offices or Licenses for Establishment of Branches in the following cases:

  1. Changing the name or address of the foreign trader’s head office.
  2. Changes in operation contents of foreign traders are directly related to the operation contents of branches in Vietnam.
  3. Change the head of the branch.
  4. Change the name of the branch.
  5. Change the operation content of the branch.
  6. Change the address of the branch office.

Authority to adjust branch establishment license

The Ministry of Industry and Trade will grant, re-grant, adjust, extend and revoke the License to establish a branch and terminate the operation of the branch in case of the establishment of the branch has not been specified in the legal documents.

Application form for adjustment of branch establishment license

SOCIALIST REPUBLIC OF VIETNAM

Independence – Freedom – Happiness

—————

Location, date…month…year…

APPLICATION FOR ADJUSTMENT OF ESTABLISHMENT LICENSE

BRANCH OF FOREIGN TRADERS IN VIETNAM

To: Ministry of Industry and Trade

Trader’s name: (name on Establishment License/Business Registration) ……………………..

Trader’s name in English: (in capital letters) …………………….

Abbreviated business name ………………………………………………………………………….

Establishment license/Business registration/Enterprise code: … Date of issue: …/…/… Issuing agency:…………………………………………………… …………………….

Telephone:…………………. Fax:……………………Email:…………..Website: (if any) …………………….

It is the proposal to amend the branch establishment license as follows:

Branch Name: (name on Establishment License) …………………………………………………….

Branch establishment license No: … Date of issue …/…/ ……………

Location of branch office: (specify house number, street/street, ward/commune, district/district, province/city) …………………… …………………….

Telephone: ……………. Fax: …………………… Email: …….. Website: (if any) ………………..

Foreign currency account number: ……………………. at the bank: ……………………………………….

Vietnam money account number:……………………..at the bank: …………………….

Tax code: ………………………………………………………………………………………………………..

Content of Amendment: …………………………………………………………

Reason for Adjustment: …………………………………………………………

Our commitment:

To be responsible for the truthfulness and accuracy of the contents of the Application and the attached documents.

Strictly abide by the provisions of Decree No. 07/2016/ND-CP, Vietnamese law relating to branches of foreign traders in Vietnam, and the provisions of the License to establish the Branch./.

An authorized representative of foreign traders

Sign, write full name and seal (if any)

Above is the content of our advice on procedures for adjusting the license to establish a branch for foreign traders in Bac Giang. Hopefully, with this article, customers can clearly understand the cases in which the adjustment must be made as well as the procedures for adjusting the license to establish a branch of your company in Bac Giang. If you have any questions about this or other legal procedures, please contact us immediately at 0919 655 698 or send questions to the email address: lienhe@vanluat. VN. We are always ready to answer all your questions quickly, promptly, and effectively. Van Luat is a company with many years of experience in carrying out the procedures for establishment, re-issuance, extension, adjustment… licenses for establishing branches, and representative offices for foreign traders in Vietnam. We are always confident to provide the best service to our customers, sincerely.

Original source: https://vanluat.com/dieu-chinh-giay-phep-thanh-lap-chi-nhanh-cho-thuong-nhan-nuoc-ngoai-tai-bac-giang.html

 

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