May 27 – The new issue of Vietnam Briefing Magazine, titled Re-evaluating Your Vietnam Representative Office, is out now and temporarily available as a complimentary PDF download on the Asia Briefing Bookstore.
So, you want to expand your business presence in Vietnam. How? For starters, you can open up a representative office (RO) in the country, which would get your foot in the door when it comes to exploring the market and conducting business. However, in Vietnam (as in most countries), an RO is limited in its range of operations and is typically used as a stepping stone to test the water before a company decides to establish a legal entity with a larger scope of business, such as a joint venture or a 100 percent foreign-owned entity.
So how do you make the jump from an RO to a 100% FOE? Take a look into your RO’s operations before deciding what your next move will be. Upgrading the office may be the right answer for you – as an RO can easily be upgraded to increase its scope of activities to align more closely with your company’s goals and to further your business’ game plan. Or, if that’s not in line with your company goals, you can just as easily decide to close up shop.
With these considerations in mind, this issue of Vietnam Briefing examines ROs – the processes of working with them, and the rationale for either upgrading or closing them. We explain not just how to close up your RO, but also list out the common reasons for doing so. In addition, we include detailed instructions and timelines on how long it takes to upgrade or close up shop. In conclusion, we also summarize how to set up an RO in the country for businesses looking to get started in the market.
In this issue:
- Upgrading Your Representative Office
- Liquidating Your Representative Office
- Vietnam’s Company Closure Process
Re-evaluating Your Vietnam Representative Office is out now and immediately available as a complimentary PDF download on the Asia Briefing Bookstore.
Dezan Shira & Associates is a specialist foreign direct investment practice, providing corporate establishment, business advisory, tax advisory and compliance, accounting, payroll, due diligence and financial review services to multinationals investing in emerging Asia. Since its establishment in 1992, the firm has grown into one of Asia’s most versatile full-service consultancies with operational offices across China, Hong Kong, India, Singapore and Vietnam as well as liaison offices in Italy and the United States.
For further details or to contact the firm, please email asia@dezshira.com, visit www.dezshira.com, or download the company brochure.
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