May Insurers Establish Branches and Representative Offices in Vietnam?

Quick answer: Under Clause 1, Article 57 of the Law on Insurance Business 2022 (No. 08/2022/QH15, replacing the Law on Insurance Business 2014), insurers and branches of foreign non-life insurers may establish branches, representative offices and business locations in Vietnam.

May Insurers Establish Branches and Representative Offices?

Yes. The Law on Insurance Business 2022 provides that insurers, branches of foreign non-life insurers and reinsurers may establish branches, representative offices and business locations to serve insurance business activities, consistent with the contents and scope of operations stated in their licenses.

Procedures for Amending License Contents When Opening a New Branch

Establishing new branches or representative offices, or changing the contents of operations, requires procedures to request the Ministry of Finance’s approval/approval of changes to license contents under the Law on Insurance Business 2022 and Decree 46/2023/ND-CP detailing its implementation.

Applicable Legal Basis

• Law on Insurance Business 2022 (08/2022/QH15, replacing the Law on Insurance Business 2014): Article 57.
• Decree 46/2023/ND-CP detailing the implementation of certain articles of the Law on Insurance Business.

Notes on Applying Current Legal Regulations

This article falls under Corporate & M&A Knowledge and is presented for reference, helping readers understand the legal issue at an overview level before preparing dossiers or carrying out transactions.

Legal regulations may change over time and vary by locality, dossier type and specific circumstances. To determine the exact legal basis applicable to your case, please contact an ANT Legal lawyer at 0966.475.966 for verification and advice before proceeding.

Common Risks to Note

• Applying a legal document that has been amended, supplemented or replaced.
• Preparing incomplete dossiers, documents or evidence.
• Misunderstanding the conditions, procedures, time limits or competent authority.
• Signing, filing dossiers or transacting without fully assessing legal risks.

How Can ANT Legal Help?

ANT Legal assists in reviewing specific situations, checking dossiers, determining the applicable legal basis, advising on handling options, and representing clients before individuals, organizations or competent authorities when needed.

For prompt consultation, please contact our lawyers at 0966.475.966.

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