NOTES TO FRANCHISE IN VIETNAM
Franchise in Vietnam is developing with the franchise recording between foreign franchisors and local franchisees. When doing franchise in Vietnam, franchisors and franchisees should know about legal requirements to franchise in Vietnam as follows.
What are major fields of franchise in Vietnam?
During the last five years, the franchise in Vietnam includes the following sectors: restaurant, fashion, education, convenient stores, retails market with the famous names: McDonald’s, Baskin Robbins, Haagen-Dazs, Pizza Hut, Kentucky Fried Chicken, Pepper Lunch, Burger King, Lotteria, Caffe Bene, Tous Les Jours, BBQ Chicken, Swensen’s, Oasis, Karren Millen, Warehouse, Topshop, Coast London, Bulgari and Moschino, Rossi.
How many franchises in Vietnam?
By the time from 2007 to August 2021, there are 262 franchises activities including franchise from foreign franchisors to Vietnam and franchise from Vietnamese franchisors to oversea.
You can see full list of franchise in Vietnam here: https://www.moit.gov.vn/nhuong-quyen-thuong-mai1
Who is Eligible for registering franchise in Vietnam?
According to Vietnam law on franchise, the franchise between the following shall need to register their franchise agreement at Vietnamese authority:
+ Franchise from foreign party to a Vietnamese party
+ Franchise from a Vietnamese party to a foreign party
If the franchise agreement between the aforementioned parties has not been registered at the relevant authority, the parties could be fined.
What is condition for franchise agreement in Vietnam?
Under the law of Vietnam on franchise that franchisor must have been operating its business for a period of time, particularly at least 01 year.
In case of master franchise in Vietnam who could sub-franchise to other parties in Vietnam, they also need to operate at least one year prior to granting franchise rights to other parties.
What are required documents for registering franchise in Vietnam?
|No.||Name of documents|
|1.||Franchise registration application (by Vietnam Franchise Law Firm ASL LAW)|
|2.||Power of Attorney (by Vietnam Franchise Law Firm ASL LAW)|
|4.||Audited Reports in the last year|
|5.||– Brief Introduction of franchisor (by Vietnam Franchise Law Firm ASL LAW)|
|6.||Business certificate (or equivalent documents) of the franchiser.|
|7.||A copy of trademark certificate or copyright (if any).|
|8.||Papers proving the approval of the primary franchisor’s permission of franchise in case the trader registering franchising is the secondary franchisor|
How long does it take to register franchise in Vietnam?
– Submitting the application to Ministry of Industry and Trade: 5-7 days from receiving full documents of franchise.
– Receiving the franchise registration certificate: 03-04 weeks (if all required documents are lawful).
How does franchise registration certificate look?
The following is the sample of franchise registration certificate which ASL LAW have registered for our client:
What services ASL LAW, Vietnam Franchise Law Firm, could provide in terms of franchise in Vietnam?
As the recommended Vietnam franchise law firm by World Trademark Review: “Duy Khuong Pham is a consummate adviser on trademark prosecution and enforcement, as well as franchising; he plies his trade from ASL Law.”
ASL LAW provides a full legal service to franchise in Vietnam including:
+ Drafting franchise agreement between parties
+ Reviewing franchise agreement between franchisor and franchisee
+ Advising on the major articles in a franchise agreement
+ Legal opinion on a potential franchise agreement
+ Advising all matters in franchise agreement
+ Settling the dispute between franchisor and franchisee during the franchise activities
If you have any inquiry of Franchise in Vietnam, kindly contact Vietnam Franchise Law Firm ASL LAW:
*** Other related articles***
Vietnam franchise models developing rapidly with various legal risks(Opens in a new browser tab)(Opens in a new browser tab)
(Opens in a new browser tab)
(Opens in a new browser tab)