BRANCH/ REPRESENTATIVE
For companies considering business expansion overseas, local regulatory laws and guidelines pose a significant challenge. These can have varying impacts depending on the type of product, business model, business plan, and expansion goals. Compliance with local specific requirements and regulations is essential, making it crucial to choose a reliable partner who can respond to unexpected situations and deliver results on time.
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Nacipe can identify your precise requirements and propose a custom solution that best fits your needs. We also provide the latest information on local regulatory issues to keep you constantly updated. This service enables us to assist you in smoothly expanding your business overseas.
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Every company has its unique circumstances and objectives, so there is no one-size-fits-all solution. Therefore, it's essential to tailor solutions to the specific needs of each company. Nacipe goes beyond being a simple service provider or consulting partner. Leveraging our substantial experience from executing various projects in Vietnam and achieving numerous business goals, we deeply understand your business situation, objectives, and potential challenges.
WHAT NACIPE DELIVERS
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Customized solutions: Nacipe offers customized solutions that align with each company's circumstances and objectives. Choosing the right partner who can provide the most suitable solution is a crucial step towards the success of your company.
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Representative of your company: Establishing a representative office or branch in Vietnam involves complex processes such as obtaining permissions, setting up, maintaining, and complying with laws. Therefore, you may choose to collaborate with Nacipe, who have extensive local experience, to kick-start your initial venture in Vietnam. Upon request, we can act on behalf of your company and pave the way for your coming larger investments later on. This will allow you to reap all the benefits simultaneously - swift and accurate processes, reasonable costs, and low risks.
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Assistance in setting up an office: Upon your request, Nacipe can assist you in setting up an office in Vietnam. Depending on the nature of your business, the investment proposal or business plan that forms the basis for your company registration application may need to include various languages and explanations. Understanding all these government requirements fully requires a lot of time and effort. Nacipe's multicultural and multilingual team not only understands the regulations here but is also familiar with local culture and can communicate fluently in English, Korean, and Vietnamese. This ensures smoother and faster responses between parties.
In any case, Nacipe's consulting always prioritizes the interests of our clients.
WHAT NACIPE CAN HELP YOU WITH
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Personnel with expertise in labor, accounting, and tax: One of the most common mistakes foreign companies make when starting to operate a new representative office or branch in Vietnam is the lack of personnel with expertise in labor, accounting, and tax. Most companies only employ sales and technical staff to support the parent company in developing business opportunities and liaising in Vietnam. In some cases, there are no accounting books and vouchers available to track the expenses and payments of the office.
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Subsequent stages after establishment: The complex part is not the establishment phase itself but the subsequent stages. Once an office has obtained an operating license in Vietnam, it must comply with Vietnamese law during local operations. In fact, these stages are not difficult to follow, but many people take them too lightly and fail to perform them properly. Many companies establishing an office in Vietnam focus only on initial goals and do not follow regulations, resulting in having to pay large fines in some cases.
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Diligent supervision: All tax, accounting, and payment processes can easily be outsourced, but without adequate and diligent supervision and handling, control and governance can be lost. This is equally true for administrative tasks such as labor, company, and financial policies.
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Periodic reports: Once a company is registered, it has the responsibility to submit periodic reports to the government. These reports must adhere to specific templates, be written in Vietnamese, and precisely follow the accounting records. Additionally, these reports must be submitted on time.
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The unpleasant procedure when closing your business: When deciding to close an office or business in Vietnam, it is necessary to check whether all obligations have been fulfilled and all pending issues or debts with employees, partners, and relevant authorities have been settled. The liquidation and closure of taxes and social security insurance can take a long time and can be considered an unpleasant procedure depending on the situation.
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Representative director: During the registration process and the operational period of an office/branch or company in Vietnam, a manager must be appointed. If the investor is not in the country at the time of registration, they must delegate or hire a representative director.