Today, LSX Lawfirm would like to send to you the article “What is retail,? Legal provisions of law related to retail in Vietnam” as follows:
What is retail?
So, retailing is the activity of selling goods to individuals, households and other organizations for consumption purposes.
Conditions for setting up a retail establishment
To set up a retail establishment, you need to meet the following basic conditions:
– Have a financial plan to set up a retail establishment;
– The location of the retail establishment is consistent with the relevant planning in the geographical market area.
In addition, for the establishment of a retail establishment other than the first retail establishment, there are two cases: In case the economic needs test is not required, the following conditions must be satisfied such as the establishment of the first retail establishment; In case an economic needs test must be performed, in addition to meeting the above conditions, the economic needs test criteria must be met.
Contents and duration of the license to set up a retail establishment
Contents of a license to set up a retail establishment include:
- Name, enterprise code number, head office address;
- Name and address of the retailer;
- Type of retail establishment;
- Size of retail establishment;
- Other contain;
- Term of the License to set up a retail establishment.
Term of license to set up retail establishment
So, the license to set up a retail establishment has a term corresponding to the remaining term on the investment registration certificate for the retail establishment project. In case the Certificate of Investment Registration is not available, the duration of the License to set up a retail establishment corresponds to the time limit stated in the document on the location of the retail establishment; Besides, the term of a re-issued license to establish a retail establishment is equal to the remaining term of the issued license to establish a retail establishment;
Finally, the extension of the license to establish a retail establishment shall comply with the provisions of Point a, Clause 2, Decree 09/2018/ND-CP.
Dossier for issuance of a license to set up a retail establishment
So, the dossier includes:
- An application form for a license to set up a retail establishment
- Explanation includes the following:
Firstly, Location of establishment retail: Address retail of establishment; description of the general, relevant area and the area used for the establishment of retail the premises; explain the satisfaction of the conditions specified at Point c, Clause 1, Article 22 of this Decree; enclosed with documents on the location of the retail establishment;
Then, Business plan at the retail establishment: Present the business plan and market development; demand for labor; assess the socio-economic impact and efficiency of the business plan;
Finally, Financial plan for setting up a retail establishment: Statement of business results on the basis of audited financial statements of the latest year in case established in Vietnam from 01 year above; explanation of capital, capital sources and capital mobilization plans; accompanied by financial documents.
- Documents from tax authorities proving no more overdue tax debts.
- Copies: Certificate of enterprise registration, Certificate of investment registration of retail establishment project (if any), Business license.
- Explanation of Economic Needs Test criteria.
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So, wholesale means the sale of goods to wholesalers, retailers and other traders and organizations; Retail sales are not included.
Accordingly, it can be understood that wholesale activities are activities of selling goods to traders and organizations for non-consumption purposes
Accordingly, to the current law, cases, where the agency refuses to grant a license, include:
– Failing to satisfy all conditions to establish a retail establishment;
– The operation term of the project to establish a retail establishment has expired;
– Foreign-invested economic organizations that apply for a license to set up a retail establishment within 2 years from the date of their license to set up a retail establishment are revoked.
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