The more favorable the business, the more there is a need to establish more branches to expand the size of the company. So, do you know how to apply for a branch?
When businesses are increasingly favorable, business owners always want to set up more branches to expand the size of the company. So, do you know how to apply for a branch?
To learn about how to set up a branch, let’s find out in the following article.
When the business grows after business time, the business owner always wants to expand his market, establish a branch or representative office are the ways that the boss can do. However, each way of re-establishment has its own pros and cons. Compared to the establishment of a representative office, the establishment of a branch has the advantage of allowing the enterprise to carry out trading activities within the scope of the authorized enterprise and can account independently of the enterprise.
FOR VIETNAMESE TRADERS WHO WANT TO SET UP A BRANCH
The procedure is done at the Department of Planning and Investment where the enterprise wants to set up its branch.
A dossier of branch establishment includes:
- Notice of branch establishment (signed by the company’s legal representative)
- Written decision on the establishment of a branch (of the company owner if it is a one-member limited liability company, of the Members’ Council if it is a limited liability company with two or more members, of the General Meeting of Shareholders if it is a joint-stock company, of members of a partnership)
- Minutes of meeting on the establishment of a branch (if it is a one-member limited liability company, this record is not required)
- Decision on the appointment of the head in the branch.
- Identification documents of the head of the branch are established:
- Individuals being Vietnamese nationals: People’s I.S. or passports with not certificates;
- Individuals being foreign nationals: Temporary residence registration papers issued by competent Vietnamese agencies, work permits and certified passports;
- A valid copy of the practice certificate of the head of the branch (or other individuals under the branch) for the companies doing business in the professions where the business practice certificates are required by law.
- Authorization documents for check-in people.
Procedures:
Enterprises carry out procedures directly and online through the website of business registration.
- Enterprises carrying out online procedures will follow the instructions at the national portal website on business registration.
- Then submit directly to the Business Registration Office:
- Enterprises prepare all the above-mentioned documents
- The legal representative shall submit the application at the Business Registration Office of the province/city where he/she wishes to set up a branch
- Business Registration Office receives and checks records
- The business registration office gives the results of procedures during the working day:
- Notification of amendments and supplements if the dossier is invalid;
- Certificate of registration of operations of branches if the dossier is valid.
- Fee: 100,000 VND / time
Note: When setting up a branch in another province/city where the head office is located, it is necessary to study the relevant legal provisions on the sectors and trades permitted to do business at the place where the branch is located because not all registered business professions are allowed to do so.
FOR FOREIGN TRADERS WISHING TO ESTABLISH A BRANCH
Registration procedures are made at the Department of Industry and Trade of the province/ city where the enterprise wants to set up a branch.
Conditions for establishment of a branch:
- Foreign traders shall register their business in accordance with the provisions of Vietnamese law, in accordance with treaties to which Vietnam is a contracting party or recognized by the laws of these countries and territories.
- Foreign traders operating for at least 05 years in Vietnam from the date of establishment.
- Business goods and services must be on the list of goods and services of branches of foreign traders or foreign tourism enterprises permitted to do business in Vietnam in accordance with the provisions of law.
Documents to prepare:
- Application for permission to establish a branch according to the form of the Ministry of Industry and Trade (signed by the competent person of the foreign traders)
- Copy of business registration certificate with not certificate or other papers of equivalent value
- Written appointment of the head of the branch
- Copies of audited financial statements or documents confirming the performance of tax or financial obligations in the latest fiscal year or equivalent documents issued by competent agencies to prove the activities of foreign traders in the last fiscal year (Certified copies)
- A copy of the operation charter of the branch established.
- A copy of the passport or ID card (if vietnamese) or a copy of the passport (if a foreigner) of the head of the branch;
- Documents on the lease of the intended location of the Branch
Procedure order:
- Foreign traders shall prepare the above documents and submit them to the Department of Industry and Trade of the province or city where the branch is intended to be located.
- The Department of Industry and Trade receives the dossier and handles it.
- The Department of Industry and Trade will notify the amendment and supplementation if the dossier is invalid after 03 working days.
- The Department of Industry and Trade issued a license or did not issue a license and must clearly state the cause after 07 working days
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