Representative Office of Foreign Traders must submit annual operation report before 25th January 2017
On 25th January, 2016, Vietnamese Government issued Decree No 07/2016/ND-CP detailed regulations on establishment of representative offices or branches of foreign traders in Vietnam under Law on Commerce.
According to this Decree, representative offices (“ROs”) of foreign companies in Vietnam are required to submit an annual operations report on their activities (“Report”). The Report needs to be submitted to the provincial Department of Industry and Trade before the 30th of January of the following year.
Penalties of up to VND 60,000,000 will be imposed if an RO fails to submit its Report.
The deadline for submission of the Report for 2016 is 25 January 2017.
Sample operation report of representative office is stipulated in Circular No. 11/2016/TT-BCT dated July 5th, 2016, on forms prescribed in Decree No. 07/2016/ND-CP of the Government on guidelines for the Law on commerce in terms of representative offices and branches of foreign traders in Vietnam.
SOCIALIST REPUBLIC OF VIET NAM
Independence - Freedom – Happiness
---------------
[Location]........,[date].............
OPERATION REPORT OF REPRESENTATIVE OFFICE
(Year …)
|
To: |
- … (licensing authority’s name) (superior Ministry or agency’s name). |
Name: (in capital letters and bold as specified in establishment license):
Number of representative office establishment license: …….. Date of issue: .............................
Foreign currency account (if any): ......... ………… at: ............................................[bank] VND account: .........… at: ............................................ [bank] ....................................
Telephone:…………………… Fax:…………………. Email:…………Website: (if any) ……
TIN: ........................................................................................................................
Lines of business of representative office: ...................................................................
Head of representative office12:
Full name: (in capital letters)…………….. Gender:……………
Personal identification/ID number/Passport number: .............................................
Date of issue: ...../....../…. Place of issue: ..........................................................................
Registered temporary residence (for foreigners)/registered permanent residence (for Vietnamese): .............................................................................................................
Operation report of representative office in……….[year] as follows:
I. Personnel of representative office (including head representative and employees working at representative office)
1. Employees in representative office (at the report time)
|
No. |
Full name |
Position |
Nationality |
TIN |
Salary |
Bonus |
Insurance |
Other |
|
1 |
|
|
|
|
|
|
|
|
|
2 |
|
|
|
|
|
|
|
|
|
… |
|
|
|
|
|
|
|
|
2. Changes of employees in the year (only new employees and employees leaving the representative office are mentioned)
|
No. |
Full name |
Position |
Start date |
Termination date |
Notes |
|
1 |
|
|
|
|
|
|
2 |
|
|
|
|
|
|
… |
|
|
|
|
|
II. Operations of representative office
1. Trading operations
a) Primary operations in ……..[year] (lines of business and tasks)…………..
- Finding and conducting transactions with partners (names of partners and fields): ...............
Engaging projects (fields, contents and locations): .....................................
Holding/participating in meetings, advertisements, fairs, displays, etc. in accordance with regulations of law: ............................................................................................................
- Participating in social activities (if any):...................
- Participating in other activities: ...............................................................................................................
b) Outcomes of actual operation:
|
Description |
Vietnamese/foreign partner |
Products |
Value (USD) |
Following year forecast |
Market (country) |
Notes |
|
|
Conclusion |
Execution |
|
|
|
|||
|
Export contract promotion: 1…. 2…. |
|
|
|
|
|
|
|
|
Import contract promotion: 1…. |
|
|
|
|
|
|
|
|
Two-side processing order promotion: 1… |
|
|
|
|
|
|
|
|
Two-side service provision promotion: 1… |
|
|
|
|
|
|
|
|
Cooperation project promotion: 1… |
|
|
|
|
|
|
|
|
Market survey: 1… |
|
|
|
|
|
|
|
|
Total |
|
|
|
|
|
|
|
2. Operations in other fields (detailed work in each field that representative office licensed to operate)
2.1. .................................................................................................................................
2.2. .................................................................................................................................
III. Proposals
………………………………………………………………………………………………......
We hereby declare that we will take responsibility for the truthfulness and accuracy of the report.
|
|
Head of representative office Signature, full name and seal (if any) |
___________________
12 If the head of representative office being a Vietnamese has already issued a personal identification number, only his/her full name and personal identification number are required.
Download Sample operation report of representative office here: Report_Vietnamese.docx
******
Please contact us for any further concerns related to the topic of this article.
About Us
Asia Business Consulting is a boutique consulting firm specializing in corporate establishment, legal and business advisory, tax and payroll compliance, HR administration, market research to multinationals investing in Vietnam.
For further information or to contact the firm, please email This email address is being protected from spambots. You need JavaScript enabled to view it. or download the company brochure.
You can stay up to date with the latest business and investment news in Vietnam by subscribing for our newsletters.