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posted 11 months ago
With a dynamic and rapidly expanding market, Vietnam offers significant opportunities for foreign companies to establish and operate retail outlets, contributing to the country’s economic growth and development.
Step 1: Before establishing a retail outlet, the foreign investors must ensure that the foreign-invested company in Vietnam of the foreign investors has registered the retail trade of goods.
Step 2: The company carries out procedures for applying for a trading permit concurrently with establishing a retail outlet. If after having a Trading Permit, the company establishes a retail outlet, the company must add a retail outlet establishment license (“ROL”).
The revocation of the Trading Permits can occur in the following six cases:
+ The enterprise registration certificate is revoked.
+ The investment registration certificate for a project involving goods purchase and sale and related activities is revoked.
+ The information provided in the application for granting, re-granting, or modification of the Trading Permit is found to be false.
+ A foreign-invested economic organization has ceased goods purchase and sale as well as related activities for more than 12 months without reporting it to the licensing agency.
+ The economic organization has failed to submit periodic reports for 24 consecutive months.
+ A foreign-invested economic organization fails to send reports, documents, and explanations within 03 months after the prescribed deadlines.
In conclusion, Vietnam’s approach to trading permits and retail outlets of foreign-invested companies has played a crucial role in fostering economic growth and attracting foreign investment. Additionally, the government of Vietnam has introduced measures to simplify customs procedures, enabling foreign companies to import and export products more efficiently.
For the full detail of this post, please reference on this link: http://hmlf.vn/trading-permits-of-foreign-invested-enterprises/
Harley Miller Law Firm “HMLF”
Head office: 14th floor, HM Town building, 412 Nguyen Thi Minh Khai, Ward 05, District 3, Ho Chi Minh City.
Phone number: +84 937215585
Website: hmlf.vn
Email: [email protected]
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