As society is developing, the demand for electronic devices is increasing day by day, this is considered an opening condition for electric appliance manufacturing companies to make a profit. Because of this, many people want to set up an electronic devices manufacturing company, but not everyone has enough knowledge to set up a company in the fastest and most convenient way. To carry out the procedures and establish a company manufacturing electronic devices and electronic appliances, businesses have to go through complicated phases. So, in this article, LSX legal firm would like to inform you: “Procedures to establish electronic devices company in Vietnam”
Legal grounds
- Decree 47/2021/ND-CP
- Law on Enterprise 2020
- Decree 50/2016/ND-CP
- Decree 01/2021/ND-CP
The concept of “Company”
A company means the association of two or more people (individuals or legal entities) by a legal event in which the parties agree to use their assets or abilities to carry out activities to achieve a common goal. Enterprise: a concept that people often use to replace “company”. However, this can be considered a systematic mistake, which is deeply rooted in the thought of each individual, that mentioning the company is referring to an enterprise, people always equate company and business as one.
Clause 10, Article 4 of the Law on Enterprises 2020 defines enterprises as follows:
“Article 4. Definitions
10. “enterprise” means an organization that has a proper name, assets, premises, is established or registered in accordance with law for business purposes.”
From a linguistic point of view, an enterprise legally established as an economic organization with its own name, head office, and operating for profit-making purposes.
Currently, Vietnam has 7 main types of enterprises:
- Sole proprietorship
- State-owned enterprise
- Cooperatives
- Joint-stock company (JSC)
- Limited liability company (LLC)
- Partnership
- Joint-venture company
Accordingly, only joint-stock companies and limited liability companies are considered companies, the rest are other types of enterprises.
Therefore, it can be understood that the company is a subset of enterprises, has a part of the basic characteristics of the enterprise, such as:
- The owner’s assets are completely separate from the company;
- The owner has limited liability to the company;
- Ability to transfer shares and contributed capital;
- Centralized and unified management;
- Having legal status.
Notes to establish a company manufacturing electronic devices
- Name of the company: The name must not overlap or similar to other businesses. The proper name shall consist of letters in the Vietnamese alphabet, the letters F, J, Z, W, numbers, and symbols. Also, displays the headquarters, branches, representative offices, and business locations of the enterprise and printed or written on transaction documents, records, and printed materials published by the enterprise.
- Also, address of the business: The company must have a specific, clear, and accurate address. The head office of the business cannot be an apartment building or a dormitory.
- Capital: Companies must declare the level of charter capital in accordance with the provisions of the law when doing business in the household electrical appliances
- Shareholders/Founding members: a joint-stock company, a limited liability company with two or more members, or a partnership must specify the capital contribution ratio together with individual legal papers such as ID card or passport.
- Legal representative: can be one or more depending on the needs of the company. When submitting a business registration application, the company must provide personal information along with the title of the representative. In case the legal representative is hired by the company, it is necessary to provide a labor contract and appointment decision.
Business lines of company manufacturing electronic devices
In the field of manufacturing electronic devices, businesses can refer to the following codes:
- Production of electronic components: 2610
- Manufacture of computers and computer peripherals: 2620
- Production of communication equipment: 2630
- Producing household electronic appliances: 2750
- Manufacture of electrical wiring equipment of all kinds: 2733
- Manufacture of electrical lighting equipment: 2740
- Wholesale of other household appliances: 4649
- Wholesale of computers, peripherals, and software: 4651
- Manufacture of other electrical equipment: 2790
- Wholesale of telecommunications equipment and components: 4652
- Wholesale of other machinery, equipment, and spare parts: 4659
- Retail sale of computers, peripheral equipment, software, and telecommunications equipment in specialized stores of other machinery, equipment, and spare parts: 4741
- Retail sale of audio-visual equipment in specialized stores: 4742
- …
Procedures to establish a company manufacturing electronic devices
Step 1: Prepare dossiers
- The application form submits to the business registration office requesting the certificate to establish a company manufacturing electronic devices.
- Draft of company charter.
- List of founders as well as members.
- Authenticated legal papers of members.
- Valid identification papers of the authorized representative and the legal representative.
- Legal capital confirmation document.
- Certificate of business registration (for organizations).
- Investment registration certificate for foreign investors.
Step 2: Submit dossiers
Submit the application at the Business Registration Office of the Department of Planning and Investment at the province level where you plan to locate the head office of your Company.
Currently, there are two forms to submit an application:
- Register directly: apply at the “one-stop” department of the Business Registration Office. However, in Hanoi, this method is no longer applied.
- Besides, online business registration: submit your application on the National Business Registration Portal (Address: https://dangkykinhdoanh.gov.vn). After the online application is valid, you will have to go directly to the “one-stop” department to return the scanned copy (hard copy) when submitting it online. However, this method is relatively complicated, requiring you to have skills and knowledge about registering a business account.
Once you have submitted your application, you will receive a receipt for your application. Then, usual processing time for applications will be 3 working days.
Step 3: Receive result
According to the schedule on the appointment, you return to the “one-stop” department of the Business Registration Office to receive the results. There are two possible scenarios:
- Dossiers valid: You will receive a Certificate of Business Registration as a result and a notification to the tax authorities.
- In contrast, dossiers invalid: The Business Registration Office will have a document instructing you to amend the dossiers in accordance with the provisions of the law. After the amendments and supplements to your application according to this guide, then resubmit your application as in Step 2.
Step 4: Post-establishment procedures.
Receiving a Business Registration Certificate is just the first step in putting your company into operation. After that, you have to do the following series of procedures:
- Notice the use of the company’s seal sample.
- Bank account notice (if your company registers a bank account).
- Tax procedures such as license declaration and payment of license fees, Tax on corporate headquarters inspection,…
- Trademark protection (if you need it).
- …
After carrying out these procedures, your Company can go into operation.
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, When opening a company, you have the right to decide, and manage your business.
Secondly, Opening a company will bring a big turning point in the process of your career. Establishing a business promotes your brand and products, thereby bringing more profits.
Thirdly, Opening a company means expanding the business. Instead of opening 1 or 2 more small retail branches, you can set up a whole company specializing in trading certain products and services.
Fourthly, Registering a company means that you work under the regulations as well as the protection of the law, your business process becomes more and more serious by days.
Moreover, other businesses do not have the right to use your trademark to conduct business after the registration of your company.
Then, starting a company will create jobs for many other people.
Also, a Vietnamese company with valid legal status will enjoy benefits under Vietnamese legislation.
In addition, establishing a company helps you satisfy your passion for business; Become a boss, a genuine director.
The head office of the Company must not be located in a dormitory or apartment building for living purposes. Rented land in the form of commercial floors or separate houses with full legal lease contracts can be registered to establish a company.
Contact LSX
Finally, hope this article is useful for you to answer the question about “Procedures to establish electronic devices company in Vietnam”. If you need any further information, please contact LSX Law firm: +84846175333 or Email: [email protected]
Conclusion: So the above is Procedures to establish electronic devices 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
