Representative Office in Vietnam: Procedures and Compliances for Setting Up and Dissolution - Preview

V ietnam B riefing · Issue 43 · October 2020 2 Introduction ALBERTO VETTORETTI Partner Dezan Shira & Associates Vietnam continues to showcase strong growth patterns despite the ongoing COVID-19 pandemic, leading investors to favorably consider the country as an ideal location for new investment, relocation of operations, or expansion of existing entity. In fact, foreign investors appear undeterred by the current travel restrictions and are planning to set up fresh companies, factories, or warehouses or expand their operations. In the first half of the year, Vietnam also rose to become the second biggest supplier to the US after China, emerging as a prominent beneficiary of the ongoing US-China trade hostilities. Since Vietnam has been able to contain the pandemic better than most countries, it is no surprise that foreign investors remain keen on doing business in the country. In this context, it is important to understand the prevailing office types and structures in the country. For foreign businesses looking to enterVietnam, the representative office (RO) structure is a popular vehicle for investment due to a variety of factors. In this issue of Vietnam Briefing magazine, we look at the process to set up an RO, including establishment procedures and the timeline involved. We then examine the viability of RO operations and the RO dissolution process. In the last article we look at tax obligations involved with dissolving an RO. This magazine is based on Dezan Shira & Associates’years of experience in supporting foreign enterprises in Vietnam. For more information and advice on how to plan for market entry or restructuring your investment into Vietnam, please contact us a t vietnam@dezshira.com. Best regards, Alberto Vettoretti Credits Publisher / Asia Briefing Media Ltd. Senior Editor / Melissa Cyrill Contributor / Pritesh Samuel, Thang Vu Designer / Aparajita Zadoo Reference Vietnam Briefing and related titles are produced by Asia Briefing Ltd., a wholly owned subsidiary of Dezan Shira Group. Content is provided by Dezan Shira & Associates. No liability may be accepted for any of the contents of this publication. Readers are strongly advised to seek professional advice when actively looking to implement suggestions made within this publication. For queries regarding the content of this magazine, please contact: editor@asiabriefing.com All materials and contents © 2020 Asia Briefing Ltd. Asia Briefing Ltd. Unit 507, 5/F, Chinachem Golden Plaza, 77 Mody Road, Tsim Sha Tsui East Kowloon, Hong Kong. www.asiabriefing.com www.dezshira.com www.aseanbriefing.com www.india-briefing.com www.vietnam-briefing.com www.silkroadbriefing.com www.china-briefing.com www.russia-briefing.com