Setting up a company is a very common thing these days. Each year, thousands of companies and businesses are established in Vietnam. The purpose of establishing a company is for the business owner to specialize in the organization’s functions. The results will bring profits to business owners and members of the company. So in 2022, how long does it take to establish a company in Vietnam? To set up a company, what owners have to do?
Legal grounds
- Law on Enterprise 2020
- Decree 47/2021/ND-CP
Procedures to establish a company
Step 1: Prepare application for business registration
Dossier to establish an enterprise/company: According to the provisions of the Law on Enterprise 2020; Chapter IV of Decree No. 01/20121 on the order and procedures for business registration for different types of businesses.
Depending on the type of company the owner wants to establish. Generally, the company’s registration application includes the following dossiers:
- Firstly, business registration application form.
- Secondly. draft of enterprise charter;
- Thirdly, list of members for two-member limited liability companies or list of shareholders for joint-stock companies;
- Fourthly, A valid copy of the personal identification papers
Step 2: Submit and pay fees for publication
The procedure for paying the business registration information disclosure fee will be carried out in parallel with the procedure for applying the company registration.
Therefore, as soon as the company is granted the Certificate of Business Registration, they will also publish the business information on the National Business Registration Portal. The process takes about 3-5 working day
Step 3: Engrave the seal of the company (1 day)
Step 4: Receive result
After all, the company can goes into operations
How long does it take to register the company establishment?
- Firstly, it will take you one to two days to prepare basic information and dossiers to set up a company.
- Then, you will spend two to three days preparing the necessary documents for the application to submit to the Business Registration Office.
- The application can be submitted directly at the one-stop department of the Department of Planning and Investment of the province or city. On the other hand, you can submit online at: dangkykinhdoanh.gov.vn.
- The time to receive the application for business establishment is a working day. The processing phase takes 3 working days. Accordingly, the total time as prescribed-the fastest for you to get the company registration certificate is 5-7 working days. Besides, there will be cases where the time is extended due to the supplement of the profile.
Register for business establishment online
Currently, to simplify legal procedures, businesses can proceed to submit an online application to verify the validity of the application before submitting it directly to the Business Registration Office.
- Register a business registration account at the website: dangkykinhdoanh.gov.vn
- Enter the required information according to the instructions.
- Scan the prepared legal documents and upload the file to the web.
- Wait 3 working days for a response from the Business Registration Office. If the application is valid, the office will print a receipt and the notice attached to the response, and submit it with a set of paper documents to the Business Registration Office to complete the registration procedure.
If the profile is not valid, the office will send a response specifying what needs to be added and modified. Then, the company has 3 days to complete it.
Register for business establishment at the Business Registration Office
Business owners to submit the application directly. Then wait 3-5 days to receive a response on the validity of the application. However, this will be unfavorable for businesses that are far from the Business Registration Office because they have to spend more time traveling.
Lastly, it will take another 2-3 days to receive the business registration certificate.
Others processing time
If it is an enterprise with foreign capital. Once established, it will take longer to get a business certificate.
- 15 – 30 days to apply for the first certificate.
- 5-7 days to apply for a business license.
In fact, businesses also need more time to prepare company information and complete other procedures after the company goes into operation such as 3 days to publish the seal sample, 1 day to make a bank account, 1-2 days for the initial tax declaration.
For enterprises operating in conditional business lines, it will take another 15-20 working days to apply for a license to operate that profession (depending on the prescribed regulation for each conditional line).
So, the total time to set up a business will be about 15-20 working days to start operating.
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.
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 articles
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Required tax for business establishment in Vietnam
Procedures after business establishment for a 100% foreign-owned company
Related questions
At present, Vietnam’s law on enterprise does not stipulate the required level of charter capital that a company needs to register when it is established (except for the case of a company operating in industries with prescribed capital and deposit). Therefore, the company can freely choose the level of charter capital.
1. Business type
2. Business name
3. Headquarter address
4. Business line
5. Charter capital and the corresponding tax
6. Legal representative
7. Application for business registration
Contact LSX
Finally, hope this article is useful for you to answer the question about “How long does it take to establish a company in Vietnam?”. If you need any further information, please contact LSX Law firm: +84846175333 or Email: [email protected]
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