When operating a company, the transformation of the form of the company is sometimes inevitable; to be suitable for business purposes and practical situations. Therefore, it is essential to understand the procedures required to complete the conversion. In this article, LSX will provide necessary information about the company registration when converting an LLC into a JSC in Vietnam
- 2020 Enterprise Law
- Decree 01/2021/ND-CP
Dossier for company registration when converting an LLC into a JSC
Accordingly, a dossier for company registration when converting an LLC into a JSC will contain the following documents:
- Application for business registration
- Company rules
- List of members for limited liability companies
- Copies of the following papers:
- Legal documents of the individual for the legal representative of the enterprise
- Personal legal papers for company members being foreign investors who are individuals; legal papers of the organization for members who are foreign organizatons; or authorized representatives of members and documents on appointment of authorized representatives.
- Investment registration certificate, in case the enterprise is established by a foreign investor or a foreign-invested economic organization.
- Resolution, decision of the company owner, or resolution, decision and a copy of the meeting minutes of the Members’ Council on the conversion of the company
- The transfer contract or papers proving the completion of the transfer in case of assignment; Contract of donation in case of donation of contributed capital; A copy of the document certifying the legal inheritance of the heir in case of inheritance.
- Papers certifying capital contribution of new members
- The investment registration authority’s document approving the capital contribution of foreign investors or foreign-invested economic organizations; in case the capital contribution registration procedures must be carried out in accordance with the provisions of law.
Procedures for company registration when converting an LLC into a JSC
Thus the regulation of 2020 Enterprise Law; to carry on the conversion of an LLC to a JSC, the company must comply with the following steps:
Step 1: Submit the dossier
Basically, the applicants may prepare a 01 dossier for the procedure as above. Thereafter, the company must register the conversion of the company type with the Business Registration Authority within 10 days from the date of completion of the conversion.
Step 2: Recieve the certificate
Then, within 5 working days from the date of receipt of the conversion dossier, the enterprise registration agency shall re-issue the Certificate of enterprise registration.
Accordingly, the applicant must pay VND 100,000 to register a JSC directly; or free if they apply virtually.
Yes, they can. The procedure for converting a JSC to an LLC will be similar to this procedure.
The two most common types of enterprises are limited liability companies and joint-stock companies.