Branch offices (BO) in Vietnam are limited to certain types of service businesses, such as finance and banking. BOs are service providers and provide services other than those specified in specialized legislative documents . BOs may also hire staff directly.
Branch Offices are permitted to engage in the following activities:
• Rent offices;
• Lease or purchase the equipment and facilities required for operations;
• Recruit local and foreign employees;
• Remit profits abroad;
• Purchase and sell goods and commercial activities per licensing;
• Set up accounting, marketing, and HR departments to represent the parent company.
Requirements and registered capital
The BO will need to obtain an establishment license and have a seal with the name of the parent company. The BO will also need to appoint a branch manager who is a Vietnam resident.
Ownership
Foreign companies may appoint a manager from their countries of origin; however, this employee must get a Vietnam work permit to be hired as a BO manager.