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Trade and trade-related activities in Vietnam

Commodity trade is one of the most global popular activities. Let’s see how the trade activities of foreign traders are classified under Vietnamese regulations.

1.    Import and Export

The right to export means the right to purchase goods in Vietnam for export, including the right to have one’s name written in the exports declaration in order to carry out, and take responsibility for, export-related procedures. Export right does not include the right to purchase goods from non-traders for export, unless otherwise provided for by Vietnamese law or treaties to which Vietnam is a contracting party.

The right to import means the right to import goods from abroad into Vietnam for sale to traders who have the right to distribute such goods in Vietnam, including the right to have one’s name written on the import goods declarations for execution and take responsibility for import-related procedures. Import right does not include the right to organize or participate in the distribution system in Vietnam except otherwise provided for by Vietnamese law or international treaties to which Vietnam is a contracting party.

Find out How to open an import-export company in Vietnam in this Article.

2.     Distribution

Distribution includes wholesale, retail, agency sales and franchising activities.

(i)  Wholesale distribution means the activity of selling goods to wholesalers, retailers and other traders and organizations; excludes retail distribution;
(ii)   Retail distribution means the activity of selling goods to individuals, households and other organizations for use for consumption purposes.

The difference between wholesale and retail activities lies in the buyer. If a trader sells goods to a buyer who then sells that it to another party, it is the wholesale. If the goods is sold to the buyer, who will directly use or consume the goods, then it is retail.

Find out How to open an wholesale company and How to open a retail company in Vietnam 

(iii)  Franchising is an activity, in which a trader that grants commercial rights, including also the secondary franchisor in relation to the secondary franchisee. Commercial right is right granted to the franchisee by the franchisor that also requests the franchisee to undertake by itself the business of supplying goods or providing services within a system set up by the franchisor and associated with the franchisor’s trademark, trade name, business slogan, business and advertising logo.

(iv)     Traders may act as agents to buy and sell goods of foreign traders through agency contract.

 

3. Commercial assessment services

4. Logistics services, except those as committed in applicable international treaties;

5. Goods leasing (financial leasing not included), except leasing of construction equipment with operators;

6. Trade promotion services, except advertising services;

7. Trade intermediation services;

8. E-commerce services; and

Read this Article to know about How to open an e-Commerce company in Vietnam.

9. Bidding organizing services for goods/services.

SHOULD YOU ENGAGE IN A LAWYER AND AN ACCOUNTANT

Investment registration may seem like a major step in a new business venture for many people. Like anything, it can be daunting if you haven’t done it before and you definitely to make sure that it’s done correctly. Otherwise, you may waste a lot of time and pay fines if you do mistake, even a little one.

The process is generally quite smooth if you involve a professional to help you out. Every one wants to spend less time administering their business and more time running it. In Feline Legal, with many years experience in corporate services, lawyers and accountants will assist you and provide advance with forming your company. We also complete the paperwork, register your company and follow steps after that. You can save a lot of time and enjoy good services with reasonable price

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