How to set up a company quickly and legally in Vietnam?

Setting up a company is a very common thing these days. Each year, thousands of companies and businesses are established in Vietnam. The purpose of establishing a company is for the business owner to specialize in the organization’s functions. Then, the results will bring profits to business owners and members of the company. So, how to set up a company quickly and legally in Vietnam in 2022?

Legal grounds

• Law on Enterprise 2022
• Decree 47/2021

Requirements of setting up a company

When you want to set up a company in any business line, you need to prepare a few things in advance:

• Firstly, consider the most suitable type for your business.
• Secondly, naming the company
• Thirdly, headquarter’s location
• Fourthly, business lines
• Then, choose the appropriate level of charter capital of the company. And prepare for the tax to pay when establishing the company corresponding to the registered charter capital of the enterprise.
• Next, a qualified legal representative to run the business.
• Lastly, applications for business registration.

Procedures to Set up a company

Step 1: Prepare application for business registration

Dossier to establish an enterprise/company: According to the provisions of the Law on Enterprise 2020; Chapter IV of Decree No. 01/20121 on the order and procedures for business registration for different types of businesses.

Depending on the type of company the owner wants to establish. Generally, the company’s registration application includes the following dossiers:

• Business registration application form.
• Draft of enterprise charter;
• List of members for two-member limited liability companies or list of shareholders for joint-stock companies;
• A valid copy of the personal identification papers

Step 2: Submit and pay fees for publication

The procedure for paying the business registration information disclosure fee will be carried out in parallel with the procedure for applying the company registration.

Therefore, as soon as the company is granted the Certificate of Business Registration, they will also publish the business information on the National Business Registration Portal. The process takes about 3-5 working day

Step 3: Engrave the seal of the company (1 day)

Step 4: Finally, receive result

After all, the company can goes into operations

Fees to set up a company

Company registration

Circular No. 47/2019/TT-BTC stipulates the collection rate, mode of collection, payment, management, and use of fees for providing enterprise information. Accordingly, the enterprise registration fee includes issuance, re-issuance, change of contents for Certificate of Business Registration, Certificate of Registration for branches, representative offices, and business locations of enterprises. The fee is 50,000 VND/ each time, payable at the Business Registration Office of the Department of Planning and Investment where the enterprise’s head office is located.

Publication of company registration

Also based on Circular No. 47/2019/TT-BTC, the fee for publishing the information of business registration is 100,000 VND/time
This fee is paid at the Business Registration Office of the Department of Planning and Investment where the enterprise’s head office is located.

Seal engraving

This fee usually depends on many factors of the seal maker and the requirements of the company. At present, the price for a company seal ranges from 250,000 VND to 350,000 VND. Additionally, there will be seals of titles in the company.

Open bank account and bank account announcement

Businesses need to pay to maintain the account (deposit cost). Accordingly, the average rate for an account is about 1,000,000 VND.

Licensing fee

For license fees, when establishing a company there will be 2 cases.

• If the company has a charter capital of less than 10 billion VND, the fee will be 2 million VND per year.
• On the other hand, companies with charter capital over 10 billion, the license fee is 4 million per year

The above are the main expenses for setting up a company. Besides, business owners will also encounter other fees and charges which depend on the needs of the company owner and the nature of the industry.

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 legal firm establishment in Vietnam

Notes for company establishment in Vietnam

Procedures for establishment of a representative office in Hanoi

Related questions

Contact LSX

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