Vietnamese garment products are increasingly favored by consumers with high product quality, diverse designs, and affordable prices. Due to the increased demand of consumers, the problem of the size and number of new garment enterprises is raised. So, faced with that situation, many individuals/organizations plan to open garment companies to meet the market situation. So what are the conditions for establishing a garment company? Then, Lawyer X invites readers to refer to the article below to better understand the legal provisions on the above content.
Legal grounds
– Enterprise Law 2020;
– Investment Law 2020;
– Decree No. 01/2021/ND-CP on business registration.
What is a garment company?
An association of two or more people by a legal event in which the parties agree to use their assets or abilities to carry out different projects to satisfy and satisfy their needs for clothing. People’s clothing and fashion with diverse products are made through a modern industrial production system, ensuring both aesthetics and production output.
What are the conditions for establishing a garment company?
Owner’s Conditions
For a private company and a partnership, the owner can only be an individual, for a limited liability company and a joint-stock company, the owner can be an individual or an organization.
Conditions for owners of garment companies with individuals and organizations are currently prescribed in the Enterprise Law 2020, according to which organizations and individuals participating in the establishment of enterprises must have civil act capacity completeness: For organizations, it must be an organization with legal status, for individuals, it must not be declared by a court to have lost their civil act capacity or have limited civil act capacity.
To set up a business, the owner also needs to meet certain conditions
The owner of a garment company is also not prohibited by the State from establishing or joining an enterprise, including the subjects specified in Clause 2, Article 17 of the Enterprise Law 2020.
Thus, if organizations and individuals do not fall into the prohibited cases, they are eligible to establish a garment company.
Conditions of occupation when registering
The garment industry is a business without conditions.
Business codes that can be registered by the garment industry are as follows:
– Code 4771: Retail sale of garments, footwear, leather, and imitation leather goods in specialized stores
– Sector code 4669: Other specialized wholesale not elsewhere classified. Details:
– Wholesale of silk, fiber, textile yarn
– Wholesale of garment and footwear accessories
– Code 1511: Tanning and preliminary processing of leather; Preliminary processing and dyeing of fur skins
– Then, code 1430: Manufacture of knitted and crocheted apparel
– Code 1410: Sewing of clothing (except fur clothing)
– Cipher 1323: Manufacture of carpets and blankets
– Code 1321: Manufacture of knitted fabrics, crocheted fabrics, and other nonwovens
– Cipher 1311: Manufacture of yarns
– Code 1313: Finishing of textile products
– Cipher 1312: Manufacture of woven fabrics
– Key 1329: Manufacture of other textiles n.e.c
– Code 1420: Manufacture of products from fur skin
– Key 1322: Manufacture of ready-made garments (except apparel)
– Code 4751: Retail sale of fabric, wool, yarn, sewing thread, and other textiles in specialized stores
– Cipher 1512: Manufacture of suitcases, bags, and the like, manufacture of padded saddles
– Code 4641: Wholesale of fabrics, ready-made goods, shoes
Conditions of company name
When naming a garment company, you must choose the name of the garment company that cannot be duplicated, not prohibited by law. You can add words such as Garment Company Limited…, Travel Joint Stock Company… to the name. the company so that customers can identify the company’s products and services as soon as they see them.
Head office conditions
The address of the head office of the garment company must not be an apartment building or a collective house.
A garment company that leases its head office may request the lessor to provide a copy of the certificate of land use right to facilitate tax declaration and issue invoices after completing the registration procedures. sign up for a business.
Capital conditions
A garment company must declare its charter capital when opening a company. Normally, you can declare your charter capital depending on your wishes as well as your financial capacity, because the law does not stipulate the charter capital of an enterprise when establishing a garment company.
However, if an enterprise registers for a business line that requires capital, for example, a business that requires legal capital, margin capital, it is necessary to register a minimum charter capital equal to the legal capital level. , so that the business registration can be carried out.
Conditions of seal
According to Article 43 of the Enterprise Law 2020, the garment company’s seal exists in two forms, including:
– The stamp is made at the seal engraving establishment.
– Seal in the form of a digital signature by the law on electronic transactions.
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Frequently asked questions
Dossier to establish a garment company will include the following documents:
– Application for registration of business establishment.
– Draft charter of the enterprise;
– Then, list of members for two-member limited liability companies, founding shareholders for joint-stock companies;
– A valid copy of the authentication document
– After that, decision on capital contribution for company members, company shareholders being organizations;
– Power of attorney and identity card for the person authorized to establish the company
– Other papers and documents, if any
License tax: The amount of license tax depends on the level of charter capital that the company registers. The company must pay license tax within 30 days from the date of issuance of the business registration certificate.
+ Value added tax: Paid according to the reporting quarter of the enterprise
+ Then, corporate income tax: Paid after the end of the fiscal year
+ Export tax (For exporters): Pay when exporting goods.
+ Import tax (For importing enterprises): Pay when importing goods.
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