Why Do Many Businesses Choose to Establish a Branch?

Opening a branch is a strategic move for many businesses aiming to expand and enhance their operations. Here are some of the key reasons businesses opt to establish a branch:

  • Market Expansion: Access new customer bases and enhance brand recognition in different regions.
  • Cost Optimization: Reduce transportation costs and improve overall operational efficiency.
  • Improved Customer Service: Provide quicker and more convenient service by being closer to customers.
  • Business Opportunities: Explore new product/service opportunities and leverage local market conditions.
  • Enhanced Management: Improve control over operations and performance management across regions.
  • Legal Compliance: Meet local regulations and foster effective local cooperation.
  • Job Creation: Develop local talent and contribute to regional economic growth.

Opening a branch is crucial for sustainable growth, accelerating business development, and improving competitiveness.

KMC’s Role in the Branch Establishment Service in the Same Province

Establishing a branch within the same province can still be a complex process. To streamline this, KMC offers a comprehensive branch establishment service. To utilize our services, you need to provide:

  1. Company Details: Tax identification number or a snapshot of the company’s business registration.
  2. Branch Information: Address, branch name, business activities, and accounting method.
  3. Branch Head Documentation: A snapshot of the branch head’s ID card or passport.

We will complete all necessary documents and procedures with the Department of Planning and Investment within 3 to 6 working days, ensuring timely and efficient processing.

Tasks to Complete After Establishing a Branch in the Same Province

Procedures Required

Independent Accounting Branch

Dependent Accounting Branch

Obtain a separate branch seal

Required

Not required

Register to use invoices with tax authorities

Required

 

Not required

Purchase a digital signature for reports and invoicing

Required

Not required

Open a bank account

Required

Not required

Display a branch sign

Required

Required

Submit quarterly reports and annual financial reports

Required

Not required

Submit the declaration of business license tax

Required

Not required

Pay business license tax of 1,000,000 VND/year

Required

Required

For a dependent accounting branch, all financial data, invoices, and documents are managed centrally by the parent company, which handles all declarations, reports, and taxes. In contrast, an independent accounting branch operates with its own seal, digital signature, electronic invoices, and bank account, and must manage its own financial reporting and tax obligations.

Benefits of Using KMC’s Branch Establishment Service

  • Thorough Consulting:Gain insight into legal requirements and select the most suitable accounting method for your needs.
  • Fast Processing: Our expert team ensures timely completion of all necessary procedures.
  • Complete Support:We assist with document preparation, submission, and progress tracking.
  • Guaranteed Results: Leverage our extensive experience for accurate and timely outcomes, allowing you to focus on your business.
  • VAT Calculation Method Registration We support businesses in selecting and registering the most suitable VAT calculation method for efficient tax management.
  • Guidance on Online Tax Declaration (Including Token and Account Setup) We guide you through the process of declaring taxes online, including setting up necessary tokens and accounts for secure and efficient transactions.
  • E-Invoice Registration Assistance We provide guidance on registering and using e-invoices, a critical component in today’s digital economy.
  • Bank Account Number Submission to the Department of Planning and Investment We assist in submitting your company’s bank account details to the relevant authorities, ensuring full compliance with regulatory requirements.

Avoid administrative hassles and let KMC manage the complexities of branch establishment. Contact us today for expert advice and dedicated support!

Other Services

Accounting Advisory

KMC provide professional initial accounting and tax registration services, you shall not bother about issues related to tax and accounting after post license. Our team with high expertise and many years experiences will support and accompany you.

Tax Advisory

Our tax services rely on our local knowledge to ensure tax compliance, tax administration and dealing with tax authorities. We assist you by taking into account the latest regulations thus ensuring full tax compliance and optimization.

Business Advisory

KMC believes in an approach to our client, as we familiarize ourselves with all aspects of your business and the environment in which you operate, it enables us to propose you the most appropriate plan at a competitive service fee.

Mergers and Acquisitions (M&A) Advisory

Our global network in combination with our deep industry knowledge means that we can help companies identify other businesses that offer a good strategic fit and assist them with acquisitions, mergers and alliances that allow them to maintain and build their competitive advantage.

Transfer Pricing Advisory

Transfer pricing refers to the rules and methods for pricing transactions between related entities, typically within multinational companies. Currently, regulations on compliance of transfer pricing are very complexly and strictly.

Annual Consulting Services

KMC has the expertise with experienced resources, including lawyers, auditors, accountants who have many years of experiences working in the investment, accounting, taxation and labour consulting fields.

Other Services

Besides Accounting, Taxation, Business Services, etc. KMC also has efforts to provide other services to Clients related to business activities of the enterprises in Vietnam.