The property auction business attracts the interest of many people in the modern world. Currently, the popular form of auction in Vietnam is the auction of public properties and assets from the enforcement of judgments. Besides, there are also souvenir auctions. The law stipulates that asset auction is a conditional business form. Therefore, businesses setting up an auction company should pay attention to legal regulations. In this article, LSX legal firm would like to give you information about: “Procedure to establish an Auction company in Vietnam”
Conditions to establish an Auction company
- An auction enterprise is established, organized, and operates in the form of a Sole proprietorship or a Partnership.
- An auction company (as Sole Proprietorship) whose owner is an auctioneer, concurrently the director of the enterprise. On the other hand, an auction partnership has at least one member who is an auctioneer, and the General Director or Director of the auction partnership is an auctioneer.
- Having headquarters, facilities, and necessary equipment to ensure asset auction operations.
So, the auction company is only allowed to be established in the form of a proprietorship or partnership. Therefore, it is necessary to choose one of that two forms to establish. The establishment must meet the establishment conditions corresponding to the type of business you choose according to the Law on Enterprise 2020.
Dossiers
To be able to set up an auction company, you need to prepare:
- Application for business registration.
- Company charter for the auction partnership.
- An authenticated copy or a copy together with the original for comparison of the auctioneer practice certificate of the owner of the auction business as Proprietorship. Auctioneer practice certificates of partnership members, General Directors, or Directors of Auction Partnerships.
- Papers proving the headquarters of the asset auction enterprise, A commitment to ensuring the necessary facilities and equipment for auction operations.
Procedure to establish an Auction company
The business owner sends a set of applications for registration of auction operations to the Department of Justice where the company head office is located. Then pay the fee as prescribed by law.
Within 10 working days after receiving the valid application, the Department of Justice shall grant an operation registration certificate to the auction company.
In case of refusal, the reason must be notified in writing. Enterprises that are refused to issue an operation registration certificate have the right to complain or initiate a lawsuit.
The auction company may operate from the date of issuance of the Operation Registration Certificate.
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.
Furthermore, 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.
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Related questions
– Firstly, Joint-stock company
– Secondly, Single-member limited liability company
– Thirdly, Multi-member (two or more) limited liability company
– Fourthly, Partnership
– Lastly, Sole proprietorship
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
Contact LSX
Finally, hope this article is useful for you to answer the question about “Procedures to establish an Auction company in Vietnam?”. If you need any further information, please contact LSX Law firm: +84846175333 or Email: [email protected]
Conclusion: So the above is Procedure to establish an Auction 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
