Workshop - Representative Office: Common Non-Compliance Issues
September 23, 2022
Over the past decade, Vietnam has achieved remarkable economic performance (average annual GDP growth rate > 6%) and stable levels of inflation, Vietnam is expected to rise to the third position in Southeast Asia in terms of economic size by 2025, then become the 20th largest economy in the world by 2036 (source: IMF & Center for Economic and Business Research). Being ranked high in terms of market size and low risk of terrorism makes Vietnam an attractive destination for foreign investors. The recent trade war and Vietnam’s free trade agreements (CPTPP-2018; EVFTA-2019 ) have provided more opportunities for foreign investors to enter the Vietnam market.
Vietnam-based Representative Offices are a cost-effective entry option for foreign businesses who want to gain understandings of Vietnamese market before making a commitment to long-term investment in the country. Though Rep Offices are generally less regulated by law and are believed to be easily terminated or converted to “actual business” when necessary, non-compliance operation will activate a licensing risk and make the process become lengthy, costly and much more difficult. Indeed, observations show that many Representative Offices in Vietnam have endured serious fines due to misconduct, violation of compliance requirements.
In order to help representative offices in Vietnam update and comply with current regulations based on our in-depth expertise and experience in HR consulting, Talentnet is proud to co-host with Singapore Business Association Vietnam (SBAV), organizing the workshop with the following key highlights:
- Scope of activities
- Rights and obligations of Chief Representative Offices
- Cash book & Reporting requirements
- Labour relations compliance
- Compliance procedures for expatriates working in Vietnam
- Cash laundry and taxes compliance
OUR SPEAKERS:
- Mr. Si Pham – Head of Corporate Services | Talentnet Corporation
- Ms. Huong Do – Associate Director of Payroll Outsourcing Services | Talentnet Corporation
WORKSHOP INFORMATION:
- Time: 8:30 AM – 12:00 PM I Friday, 14 October 2022
- Venue: Vietnam-Singapore Cooperation Center, Level 4, Pacific Place, 83B Ly Thuong Kiet St., Hoan Kiem Dist., Hanoi
- Registration ends by 13 October 2022
*Tickets will be available on a first-come, first-served basis.
CONTACT INFORMATION
Ms. Thuy Vu – Associate Manager, Business Development of Hanoi Office | Talentnet Corporation
Email: vu.dieu.thuy@talentnetgroup.com