According to the current new regulations, the business/investment line is an information displayed on the Investment Registration Certificate as well as on the Business Registration Certificate (old form)/Certificate of change of information business registration information. Therefore, when changing business lines, enterprises can proceed to procedures to change both investment registration and business registration. LSX Law Firm summarizes regulations related to changing industries of foreign-invested companies.
Decree 118/2015/ND-CP guiding the 2014 Investment Law
Procedure to change business registration
Business profile to prepare
– Notice of change of business registration content; (industry is coded accordingly industry code level 4 of Vietnam Economic Industry System);
– Minutes on the change of business lines (of the Board of Directors of a joint-stock company, of the Board of members of a limited liability company with two or more members…);
– Decide on the change of business lines of the company;
– An application for publication of business registration information on the National Enterprise Portal;
Procedures for changing business lines
Firstly, LSX Law Firm will advise and guide customers to prepare documents in accordance with the law.
Secondly, LSX represents customers to submit documents, monitor progress and receive results at the business registration agency.
Lastly, After receiving the business registration, the enterprise will carry out procedures for information disclosure on the National Business Registration Portal.
The time to complete the procedure for registration of change of business lines in the Business Registration Certificate is about 3-5 working days.
Procedures for changing investment registration
– If the enterprise is still using the old form of Investment Certificate (not yet renewed), the enterprise will carry out the procedures for granting and changing to the new and changed Investment Registration Certificate at the same time.
– According to the provisions of Decree 118/2015/ND-CP guiding the 2014 Investment Law; investment projects must carry out procedures for changing conditional business lines; for non-conditional business lines the enterprise don not need to perform additionally. However, in practice, when businesses expand their business lines, they should still add industries according to regulations.
Finally, If you have any questions regarding the content of the article Changing industries of foreign-invested companies in Vietnam or other legal requirements, please contact us LSX Law firm : +84846175333 or Email: firstname.lastname@example.org
Accordingly, the time for the business registration agency to process the application for change of business line is 03 working days after receiving the complete and valid application.
The list of conditional business lines and industries is specified in Appendix IV of the Law on Investment 2020.
Thus the Circular 47/2019/TT-BTC, announcement fee on changing business lines – business registration content is VND 100,000.