What are the fees to establish a Joint-stock company in Vietnam?
Due to the development of the economic market, the need to establish a company in Vietnam increases day by day. Accordingly, when establishing a company in Vietnam, people must satisfy certain conditions. 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. When establishing a joint-stock company, founders have to pay the fees during procedures prescribed by the law. To give you an insight into this problem, LSX legal firm introduces: “What are the fees to establish a Joint-stock company in Vietnam?”
Legal grounds
- Law on Enterprise 2020
- Decree 22/2020/ND-CP
- Circular 47/2019/TT-BTC
Capital
With the establishment of a company, businesses pay most of their attention to the capital. The amount of available capital and mobilized capital will determine whether the business can perform and participate in business operations smoothly or not.
So, how much capital needed to establish a joint-stock company?
In fact, the minimum amount of capital required for a joint-stock company to set up differs. This depends on the industry and business line that the company chooses to register for production and business operation.
- In case a joint-stock company registers the business lines that do not require minimum capital requirements, the law does not require the minimum amount of capital. So, the company can prepare capital depending on its financial capacity.
- In contrast, a joint-stock company registers a line of business with requirements and conditions on legal capital and margin capital, the enterprise needs to prepare the prescribed capital level. For example, in the regulations, that business line requires an enterprise to have a legal capital of 700 million VND, then the business needs at least 700 million VND. At the same time, the company must have a certificate to verify this capital. The purpose of proving this capital is for the state agency to have a specific plan of investment at the time of business registration.
Charges and fees for establishing a Joint-stock company
Business registration
The latest business registration fee (updated in Circular 47/2019/TT-BTC): 50,000 VND.
This amount will not be refunded to the person applying for the establishment of the company in case the Certificate of Business Registration is not issued.
On the other hand, if you register your business online, you do not have to pay the fee for business registration.
Publication of business registration
After submitting the application for business establishment, the business owner will have to publish the entire business registration content on the National Enterprise Portal. To carry out this procedure, the business owner needs to pay a fee for publishing the business registration content.
The fee for publishing business registration information as prescribed in Circular 47/2019/TT-BTC: 100,000 VND.
Seal Engraving
Currently, there are many prices on the market for the engraving of corporate seals.
The cost depends on the seal engraving service provider as well as the type of seal required by the business.
The price for corporate seals ranges from 250,000 VND to 350,000 VND. The title seal of the Director, the President… ranges from 70,000 VND to 150,000 VND.
License fee
According to the provisions at point c, clause 1, Article 1 of Decree 22/2020/ND-CP, newly established companies will be exempt from license fees for the first year.
Open bank account
Businesses do not have to pay for opening an account, but they have to pay a deposit fee. Usually, the minimum deposit is 1 million VND.
Purchase digital signature (Token)
According to Decree 130/2018/ND-CP, “Digital signature” means a form of electronic signature created by transforming a data message using an asymmetric cryptographic system.
Enterprises contact digital signature providers such as Viettel, New-CA, FPT, BKav…. to purchase a Digital Signature (Also known as Token).
The cost depends on the provider and the number of years of service. The 3-year digital signature ranges from VND 2,000,000 to VND 3,000,000.
Purchase e-invoices
According to Decree 119/2018/ND-CP, newly established businesses must use electronic invoices. The cost of e-invoices ranges from 860,000 to 3,000,000 depending on the number of registered invoices and not limited to the usage time.
Other kinds of fee
In addition to the above mentioned fees, business owners also have to pay a number of other costs including:
- Cost of designing and printing the company’s brand identity.
- Service fee for tax declaration and registration for the first time.
- Facility costs.
- …
Procedures to establish Joint-stock company
Step 1: Prepare dossiers
Dossier to establish a Joint Stock Company includes:
- Application for establishment (the joint-stock type);
- Charter of Joint-Stock Company;
- Individual identification papers of shareholders (as individuals): identity card, citizen identification, passport, etc.
- Legal papers of the individual as the legal representative.
- Relevant legal papers of business registration, operation registration, establishment decision… for shareholders as legal entities.
- List of founding shareholders of the company.
- Authorization document: In case the owner does not directly carry out the procedure.
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.
- 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.
Once you have submitted your application, you will receive a receipt for your application. The 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.
- 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.
Related article
- Dossiers to establish a branch of a Joint-stock company in Vietnam
- Should you establish a Joint-stock or Multi-member LLC in Vietnam?
- Can family members establish Joint-stock company in Vietnam?
Related questions
Firstly, company’s name
Secondly, address of head office
Thirdly, company’s business lines
Lastly, charter capital
At present, there are three ways to apply for company registration:
Firstly, submit directly at the business registration office where the company’s headquarters is located.
Secondly, submit business registration documents by post office.
Thirdly, submit online through the electronic portal.
Notice of establishment of the branch (according to the form in Circular 02/2015/TT-BKHĐT).
The decision of the Board of Directors on the establishment of a branch of the enterprise.
Minutes of meeting on the establishment of the branch.
The decision to appoint the head of the branch.
Identity card/passport… of the head of the branch.
Business registration certificate (valid copy).
Contact LSX
Finally, hope this article is useful for you to answer the question about “What are the fees to establish a Joint-stock company in Vietnam?”. If you need any further information, please contact LSX Law firm: +84846175333 or Email: [email protected]
Conclusion: So the above is What are the fees to establish a Joint-stock 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
