In modern society, the economy is growing day by day, resulting in the increase of demand to establish a company as well as the needs for the quantity and quality of products by consumers. So why do so many people want to start a company? What are the benefits of setting up a company? LSX will answer the question “What are the benefits of setting up a company in Vietnam” in the article below.
Legal grounds
- Law on Enterprise 2020
- Decree 47/2021/ND-CP
Benefits of setting up a company
Establishing a company is the first procedure for entrepreneurs to enter the market. To establish a company, founders have to carry out administrative procedures to apply for a Business Registration Certificate at Business Registration Office – Department of Planning and Investment where the enterprise locates its headquarter.
Entrepreneur benefits
In general, setting up a company is not easy. But once the resources are in place, a business can bring a lot of benefits to the owner-entrepreneur.
Business benefits
There are many professions where individuals cannot conduct business activities that require being an organization, especially those requiring business conditions (such as lawyers, real estate brokers, airline services, …).
Moreover, doing business without registering a business establishment will bring many problems to long-term business plans which require conditions and procedures.
Economic benefits
The company that goes into operation will make you part of the market. It helps to create the ability to raise capital in many different ways and thereby generate a larger source of profit than other types. According to the Law on Enterprise 2020, individuals who want to start a business together can contribute capital, or individuals can also contribute capital with other enterprises to establish a company. Also, they can contribute capital to an existing Enterprise.
The contribution of capital to the Enterprise will be certified by a state agency, so individuals can be assured of their rights and obligations.
Legal benefits
A company is a type of business recognized and protected by law. There are legal corridors to help the company’s activities become more transparent and trustworthy.
Additionally, the law clearly stated the rights and obligations of members, making transactions legal and avoiding unnecessary disputes.
Social benefits
- If the companies perform a successful business, they will pay taxes to the state.
- Companies create a large number of jobs for employees, improve social security.
- Businesses contribute to the overall GDP growth of the economy.
Market benefits
Firstly, a company is an organization with legal status. That means the company has its own enterprise code, legal seal, certificate of business registration, and sufficient establishment profile. The company is eligible for business registration for the conditional business lines,… create reputation and trust for partners when working with the company.
Secondly, companies have the right to use financial invoices, electronic invoices while other organizations and individuals cannot do this. For customers who need invoices as a basis for cost transparency, they will use services and buy goods from a company.
LSX legal firm’s service on company 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. 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.
Using our service, 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. At those stages, we will help you 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.
Related articles
Conditions for establishing a legal betting business establishment in accordance with Vietnamese law
Business conditions and procedures for licensing labor export in Vietnam
Legal age to establish a business household in Vietnam
Related questions
Submit business registration application directly at the One-Stop Department of the Department of Planning and Investment where the company is located;
Submit online: https://dangkytinhdoanh.gov.vn
At present, Vietnam’s law on enterprise does not stipulate the required level of charter capital that a company needs to register when it is established (except for the case of a company operating in industries with prescribed capital and deposit). Therefore, the company can freely choose the level of charter capital.
Contact LSX
Finally, hope this article is useful for you to answer the question about “What are the benefits of setting up a company in Vietnam?”. If you need any further information, please contact LSX Law firm: +84846175333 or Email: [email protected]
Conclusion: So the above is What are the benefits of setting up a company in Vietnam?. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com
