Procedures to establish Joint-stock company under Vietnamese legislation

The establishment of businesses is becoming popular in Vietnam. The Joint-stock company, a type of business that has been established quite a lot recently, showed its potential in the Vietnamese market. A joint-stock company has the participation of many shareholders. However, establishing a joint-stock company will involve many factors. So, what are the procedures to establish a Joint-stock company? Follow this article for more information.

Legal grounds

• Law on Enterprise 2020
• Decree 01/2020/ND-CP
• Decision 1523/2020/QD-BKHDT

Procedures to establish a Joint-stock company

Step 1: Prepare and submit the application for business registration

There are 2 methods to get this step done:

• The founder submits the application directly to the Business Registration Office of the Department of Planning and Investment where the company’s head office located.
• Register online (https://dangkykinhdoanh.gov.vn). The business owner can use a public digital signature or business registration account.

Step 2: Processing of the Business Registration Office

Application submitted directly at the Business Registration Office:

• The person establishing the enterprise or the person authorized to carry out the procedures for business registration shall submit the application and pay the fee at the business registration office where the enterprise’s head office is located.
• After receiving the application, the Business Registration Office issues a receipt. The Business Registration Office shall issue an Business Registration Certificate if the application is valid.
• In case of refusal, the Business Registration Office shall notify the company founder in writing.

Application submitted online using public digital signature:

• After completing the submission, the legal representative will receive an electronic receipt of the company registration dossier.
• In case the application is valid, the business registration office will send the information to the tax office to automatically open a business identification number. After receiving the identification number from the tax authority, the business registration office shall issue a certificate of business registration. If the dossier is not valid, the Business Registration Office shall send a notice to request the amendment and supplementation.

Application submitted online using business registration account:

• The legal representative declares information, downloads electronic documents of personal identification papers at the National Business Registration Portal (https://dangkykinhdoanh.gov.vn) to register a Business Registration Account.
• use the Business Registration Account to declare information, download electronic documents, and authenticate the business registration dossiers.
• After completing the submission, the business owner will receive an electronic receipt of the business registration dossier.
• In case the application is valid, the business registration office will send the information to the tax office to automatically open a business identification number. After receiving the identification number from the tax authority, the business registration office shall notify the company. If the dossier is not valid, the Business Registration Office shall send a notice to request the amendment and supplementation.
• After receiving the notice, the company sends a set of dossiers (in papers) to the business registration office. After 30 days from the date of sending the notice on the issuance of the Certificate of Business Registration, if the Business Registration Office does not receive the dossiers in papers, the electronic registration dossier of the company is no longer valid.
• The Business Registration Certificate compares the header of the application in papers with the online application, Then issues the Certificate of Business Registration to the enterprise if the contents of the comparison are consistent.

Step 3: Receive result

The Business Registration Office sends the results within 03 working days from the date of receipt of a valid application.

Fees:

• 50,000 VND/each time, payable at the time of application submission if registering directly (Circular No. 47/2019/TT-BTC).
• Besides, fees are not required for online registration; registered for establishment on the basis of conversion from business households (Circular No. 47/2019/TT-BTC).

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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