Procedures and relevant content of enterprise registration in Vietnam
While most industries were severely impacted by the COVID-19 pandemic, start-ups continued to receive funding. In addition, the government is increasing public spending on businesses. So, many entrepreneurs want to start their businesses to make some profit. Therefore, LSX legal firm would like to provide you this article: “Procedures and relevant content of enterprise registration in Vietnam”
Legal ground
- Law on Enterprise 2020
Enterprise registration procedures
According to Article 26 of the Law on Enterprise:
1. The enterprise’s founder or the authorized person shall apply for enterprise registration at the business registration authority as follows:
a) Direct application at the business registration authority;
b) Submission of the application by post;
c) Online enterprise registration.
2. Online enterprise registration means the enterprise’s founder submitting the electronic enterprise registration application to the National Enterprise Registration Portal. An electronic enterprise registration application shall contain the information prescribed in this Law and has the same legal value as a physical one.
3. Applicants may choose between digital signatures and business registration accounts for online enterprise registration.
4. A business registration account means an account created by the National Enterprise Registration Information System for an individual to apply for online enterprise registration. The account holder is legally responsible for the obtainment and use of the account for online enterprise registration.
5. Within 03 working days from the receipt of the application, the business registration authority shall consider the validity of the application and decide whether to issue enterprise registration. The business registration authority shall inform the applicant of necessary supplementation in writing if the application is invalid or inform the applicant and provide explanation if the application is rejected.
6. The Government shall provide detailed regulations on documentation and interconnected procedures for enterprise registration.
Content of the enterprise registration application form
The following information shall be provided in the enterprise registration application form:
Firstly, the enterprise’s name;
Secondly, the enterprise’s headquarters, phone number, fax number, email address (if any);
Thirdly, the enterprise’s business lines;
Fourthly, the charter capital (or investment capital if the enterprise is a sole proprietorship);
Then, types of shares, face value of each type and total authorized shares of each type if the enterprise is a joint stock company;
Next, tax registration information;
Also, expected quantity of employees;
Equally important, full name, signature, mailing address, nationality and legal documents of each partner (for partnerships) or the owner (for sole proprietorships);
Lastly, full name, signature, mailing address, nationality and legal documents of the legal representative (for limited liability companies and joint stock companies).
The company’s charter.
Under the law of Enterprise 2020, the content of company’s charter include:
1. The company’s charter includes the initial charter submitted upon enterprise registration and revisions made during the operation.
2. Primary contents of the company’s charter:
a) The company’s name, addresses of the headquarters, branches and representative offices (if any);
b) The company’s business lines;
c) The charter capital; total quantity of shares, types of shares and face value of each type (for joint stock companies);
d) Full name, mailing address, nationality of each partner (for partnerships), the owner and each member (for limited liability companies) or the founding shareholders (for joint stock companies). Stakes held by each member or partner (for limited liability companies and partnerships) and values thereof. Quantity of shares, types of shares and value of each type held by founding shareholders (for joint stock companies);
dd) Rights and obligations of the members or partners (for limited liability companies and partnerships) or shareholders (for joint stock companies);
…
3. The initial company’s charter shall contain the full names and signatures of:
a) For partnerships, the partners;
b) For single-member limited liability companies, the owner that is an individual or the legal representative of the owner that is an organization;
c) For multi-member limited liability companies, the members that are individuals or authorized representatives of members that are organizations;
d) For joint stock companies, founding shareholders that are individuals and legal representatives or authorized representatives of founding shareholders that are organizations.
4. The revised company’s charter shall contain the full names and signatures of:
a) For partnerships, the President of the Partner Assembly;
b) For single-member limited liability companies, the owner or the owner’s legal representative;
c) For multi-member limited liability companies and joint stock companies, the legal representative.
Content of the Certificate of Enterprise Registration
A Certificate of Enterprise Registration shall contain the following information:
- The enterprise’s name and EID number;
- The enterprise’s headquarters address;
- Full name, signature, mailing address, nationality and legal document number of the legal representative (for limited liability companies and joint stock companies), each partner (for partnerships), the owner (for sole proprietorships). Full name, mailing address, nationality and legal document number of each member that is an individual; name, EID number and headquarters address of each member that is an organization (for limited liability companies);
- The charter capital (or investment capital if the enterprise is a sole proprietorship).
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.
Related article
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Vietnamese procedures to establish Single-member LLC
Should you establish a Joint-stock or Multi-member LLC in Vietnam?
Related questions
Firstly, Business Name: The company name must include two parts in order: Type of business + Name. Specifically, for a single-member limited liability company: “limited liability company / limited company + company name”. Firms must choose the names written by the letters of the Vietnamese alphabet, letters F, J, Z, W, numbers, and symbols.
Head office: The head office of the enterprise must locate in the Vietnamese territory. It is the contact address of the business and is identified by administrative boundaries. In addition, phone number (required); fax number, and email address (if any).
Owner: The owner of a single-member limited liability company may be an individual or an organization. However, such individual or organization must have full capacity for civil acts and not prohibited by the State from establishing or joining an enterprise.
Also, Business line: enterprises are only allowed to register their business within the scope of business lines which are not prohibited by law. However, for conditional business lines, enterprises must have practice certificates and related legal papers.
Lastly, Charter capital: The capital to establish an enterprise must be suitable to the business line and scale of the enterprise. For enterprises with business lines requiring legal capital, the charter capital must not be lower than the legal capital.
The trademark protection title valid from the date of issue to the end of 10 years from the filing date. When it expires, the owner can extend it further, without limiting the number of extensions.
Contact LSX
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