How much money does it takes to establish a Freight company in Vietnam?
How much money does it take to establish a freight company? What are the Legal capital and the minimum capital? If you are also interested in this issue, the following article by LSX will be useful for you.
Capital to establish a Freight company?
Capital is always the top concern when opening a company and developing business in general industries and transportation in particular.
In fact, the capital requires for the establishment of a transportation company depends on its main business line. This is because the transportation industry belongs to industries that do not require capital conditions. Therefore, entrepreneurs only need to prepare capital suitable for their financial ability.
Charges and Fees
- Fuel costs and all bills: gasoline, oil, lubricants for transportation you put into account 621
- Wages of drivers, car assistants: salary of the sales department, office, and other managers…. Salary, allowances paid to drivers, car assistants put into account 622
Production costs put into account 627 include:
- Tyre and lube
- Depreciation of fixed assets
- Supplies and spares
- Repair and overhaul
- Registration fees, tolls
- Vehicle repair
- Salary of vehicle maintenance and repair staff (if any)
- Vehicle maintenance materials (gasoline, oil, lubricants, rags …)
All of the above expenses will be transferred to account 154 at the end of the period. Then transferred to account 632 to determine the cost of services. The Debt balance on account 154 is the amount of fuel left on the vehicle at the end of the period.
Minimum capital
Although mentioned above that the amount of capital will depend on the conditions of each individual and organization. However, the minimum capital of the company must be at least tens to several hundred million VND. Because the company needs to declare the charter capital when opening the company. Moreover, there are also initial costs such as office rent, staff hire, etc.
Charter capital according to the law:
- In case the industry does not require legal capital, the enterprise can declare its charter capital depending on its wishes and capabilities. However, it will affect the reputation of the company in the eyes of customers and partners. So, the charter capital should not be too low.
- If an enterprise registers for a business that requires legal capital, it will need to register a minimum charter capital equal to or higher than the legal capital.
Once again, this business line has no capital requirements at all. You only have to declare the appropriate charter capital to be able to register the company.
LSX legal firm’s service on business establishment
When establishing a company, people must carry out the procedure following the law at the competent business registration authority (under the Law on Enterprise 2020). The process of establishing a business includes many different steps and phases. So, If you are not familiar with the law, this process may take a lot of time.
With a team of experienced, reputable, and professional consultants; The firm is always ready to support and work with clients to solve legal difficulties.
Besides, you do not need to do the paperwork yourself. We guarantee to help you prepare documents effectively and legally.
Also, you will not have to waste time preparing the application; submitting application, or receiving results. Indeed, we will help you to do it smoothly.
After all, LSX provides the service with the desire that customers can experience it the best way. Additionally, we guarantee the cost to be the most suitable and economical for customers.
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Related questions
The company needs to register a bank account for company to be able to perform money-related activities. Business owners go to the bank and bring their seal, business registration certificate as well as an ID card to register an account. After that, do procedures to present to the Department of Planning and Investment this account.
The List of members/partners of a limited liability company/partnership; the list of founding shareholders and foreign shareholders of a joint stock company shall contain:
Firstly, full names, signatures, nationalities, mailing addresses of members/partners/founding shareholders/foreign shareholders that are individuals;
Secondly, names, EID numbers, addresses of headquarters of members/partners/founding shareholders/foreign shareholders that are organizations;
Thirdly, full names, signatures, nationalities, mailing addresses or legal representatives or authorized representatives of members/partners/founding shareholders/foreign shareholders that are organizations;
Fourthly, stakes and values thereof, holdings, types, quantities and values of assets contributed as capital, capital contribution time of each member/partner (for limited liability companies and partnerships); types and quantities of shares, holdings, types, quantities and values of assets contributed as capital, capital contribution period of each founding shareholder and foreign shareholder (for joint stock companies).
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