Currently, Vietnam has a fairly potential economy. Starting a new company now becoming a great demand. Depending on the specific conditions and needs of each individual or organization; they choose the appropriate type of company to set up. One of the most popular types of companies today-limited a liability company attracts entrepreneurs from all business lines. So what do a limited liability company’s dossiers include? LSX legal firm provides this article to you: “Dossiers to establish limited liability company in Vietnam”
Legal ground
- Law on Enterprise 2020
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.
Multi-member limited liability company (LLC)
According to Clause 1, Article 46 of the Law on Enterprise 2020:
Article 46. Multi-member limited liability companies
1. A multiple-member limited liability company means an enterprise that has 02 – 50 members that are organizations or individuals. A member’s liability for the enterprise’s debts and other liabilities shall be equal to the amount of capital that member contributed to the enterprise, except for the cases specified in Clause 4 Article 47 of this Law. The member’s stake (contributed capital) may only be transferred in accordance with Articles 51, 52 and 53 of this Law.
Dossiers to establish a Single-member Limited liability company
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.
Dossiers to establish a Multi-member Limited liability company
1. The enterprise registration application form.
2. The company’s charter.
3. The list of members.
4. Copies of:
a) Legal documents of members who are individuals and legal representatives;
b) Legal documents of members that are organizations, documents about designation of authorized representatives and their legal documents.
Legalized copies of legal documents of the members that are foreign organizations.
c) The Certificate of Investment Registration of foreign investors as prescribed by the Law on Investment.
Requirements for business establishment?
Firstly, Business type
Secondly, Business name
Thirdly, Headquarter address
Fourthly, Business line
Next, Charter capital and the corresponding tax
Then, the Legal representative
Lastly, Application for business registration
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
Limited liability company in accordance with the law of Vietnam
Should I open company in Vietnam? Limited Liability/Sole Proprietorship?
Related questions
If an enterprise registers for a business line that does not require legal capital, the law does not stipulate a minimum capital level to establish a company.
In fact, many business units have registered the company’s charter capital of 1 million VND, the law does not prohibit this. However, registering a low rate of capital makes it difficult when they do business and work with partners, banks, and tax agencies because they often don’t trust this business and limit the transactions. Therefore, companies should register at the appropriate and suitable rate for reality conditions.
If an enterprise registers a business line that requires legal capital to operate; then the minimum capital to set up a company is equal to the prescribed level of that business line.
The minimum capital required to establish a multi-member LLC depends on what business line the business will register.
If the company registers a business line that does not require legal capital, the members and owners can register at the rate they want.
On the other hand, if an enterprise registers a business line that requires legal capital to operate; then the minimum capital to set up a company is equal to the prescribed level of that business line.
Contact LSX
Finally, hope this article is useful for you to answer the question about “Dossiers to establish limited company in Vietnam”. If you need any further information, please contact LSX Law firm: +84846175333 or Email: [email protected]
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