Also in your experience how long does the whole process take to register the Franchise Disclosure Document (FDD) in Vietnam? When do you think we would be able to sign a master franchise agreement with our franchise prospects? They would like me to try and provide them with a timeline.
ASL LAW’s ADVICE
The franchise agreement registration at Vietnam authority is about 20-35 days from receiving your full required documents. It takes you a month to
prepare the required documents since almost documents are required to notarise and legalise. Please see the list of required documents at the following table:
The franchisors from abroad have to record franchise registration in Vietnam with Ministry of Industry and Trade.
In franchising registration in Vietnam, we support clients in preparing and submitting documents at Vietnam Ministry of Industry and Trade. The necessary documents and timeframe for registration are described in the following table:
Prepare Franchising registration documents
|1. The Power of attorney of franchisor,|| All documents are prepared by franchisor as requested (ASL LAW would assist in completing the dossier) and send to Vietnam.
After receiving these documents, ASL LAW will conduct notarization/translation procedures in accordance with the law. The execution time is 10-15 working days.
|2. The application for franchising registration (Vietnamese version)|
|3. The written description of franchise registration|
|4. The business registration certificate|
|5. The copy of the industrial property right protection: trademark, copyright, patent (if available)
|6. The approval letter of the primary franchise’s permission of franchise (in case franchisor is the secondary franchisor)|
|7. The latest financial report that has been audited|
|8. Franchise Agreement|
Submit document at Vietnam Ministry of Industry and Trade
|The official notification of franchise registration will be available within 10-15 working days from the filing date Industry and Trade|
|20-35 working days after receiving completed documents from client.|