Nowadays, a type of business: the limited liability company is no longer strange to entrepreneurs. Single-member limited liability company (LLC) is the type that many investors chose for their business. So, what are the dossiers and procedures to establish a Single-member LLC? LSX legal firm provides this article to give you instructive information about this problem.
Legal grounds
- Law on Enterprise 2020
- Decree 01/2021/ND-CP
- Decree 122./2020/ND-CP
- Decision 1523/2020/QD-BKHDT
Single-member LLC
- Single-member limited liability company is an enterprise run by an organization or an individual as the owner. The company owner is responsible for the company’s debts and other property obligations to the extent of the company’s charter capital.
- A Single-member LLC has legal status from the date of issuance of the Certificate of Business Registration.
- Single-member limited liability companies may issue bonds, but cannot issue shares. Except for the purpose of converting into a Joint Stock Company.
Dossiers to establish a Single-member LLC
Company’s owner directly submit the application
In case the company’s owner submits the application by himself/herself:
Firstly, Business registration form
Secondly, Company charter
Thirdly, Copies of:
- Legal papers of the legal representative of the enterprise;
- Legal papers of the company owner (as an individual and organization (except for State enterprises)); of the authorized representative and the document appointing the authorized representative.
For the owner of a Single-member LLC being a foreign organization, then the copies of the organization’s legal papers must be consular legalized:
- Investment registration certificate in case the enterprise is established by a foreign investor or a foreign-invested economic organization under the Law on Investment and its guiding documents.
- License or written approval of the State Bank of Vietnam in case the enterprise establishes as a credit institution.
Lastly, The original certificate of business household registration and a valid copy of the tax registration certificate in case the establishment based on the conversion from a business household.
Authorized person submits the application
In addition to the above dossiers, the authorized to apply shall submit the following dossiers:
- A valid copy of individual legal papers.
- A valid copy of the contract with the service organization carrying out procedures related to business registration and the letter of introduction of that organization for the authorized individual to carry out the procedures related to business registration, or written authorization for that individual to carry out procedures related to business registration.
Procedure for Single-member LLC establishment
Step 1: Prepare application for business registration of the single-member LLC
Step 2: Submit the application
- At the Business Registration Authorities
- Through Post Office
- Submit online
Step 3: carry out procedure after the establishment
- Procedures for Tax, Social insurance, Labor registration.
- Registration of branches, representative offices, and business locations.
- Notify seal sample.
- Register for import and export codes.
- Assets valuation of contributed capital. Carrying out procedures for transferring registered property ownership; land use rights, unregistered ownership assets.
- Lastly, satisfy and commit to comply with the conditions of the business line.
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
What do you need to establish a single-member LLC in Vietnam?
Advisory on establishing a single-member LLC in Vietnam
Registration of a single-member limited liability company in Vietnam
Related questions
Firstly, the members of a multi-member limited liability company are only responsible for the company’s operations to the extent of the capital contributed to the company. As a result, the members take little risk.
Secondly, the members are usually people who know and trust each other. Therefore, the management and operation of the company is not too complicated.
Thirdly, the mode of capital transfer is strictly regulated; so investors can easily control the change of members.
Fourthly, members who want to transfer capital will have to give priority to the remaining members of the company. This limit the penetration of outsiders into the company.
Increase the owners’ contributed capital.
Mobilization from loans: organizations and individuals, bond issuance.
Contact LSX
Finally, hope this article is useful for you to answer the question about “Dossiers to establish a Single-member LLC in Vietnam”. If you need any further information, please contact LSX Law firm: +84846175333 or Email: [email protected]
Conclusion: So the above is Dossiers to establish a Single-member LLC in Vietnam. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com
