Currently, with the Government’s policy to encourage the development of the private sector, the business registration procedure is increasingly simplified. When planning to register a business, a question many people are interested in is what fees to pay when registering to establish a business?; Today, LSX Lawfirm will give you an article about: “Paid Fees when registering a business in Vietnam”, as follows:
Law on enterprises 2020
Decree No. 01/2021/ND-CP
Decree No. 50/2016/ND-CP
Circular No. 47/2019/TT-BTC
Paid Fees when registering a business in Vietnam
Business registration fee
According to the provisions of Circular 47/2019/TT-BTC; when submitting the application for registration of business establishment, organizations and individuals must pay an enterprise registration fee.
The current business registration fee is: 50,000 VND/time
Note: The following cases exempted from enterprise registration fee when registering for business establishment:
(1) Enterprises conduct business registration via electronic network;
(2) Small and medium enterprises converted from business households.
Enterprise information disclosure fee
According to the provisions of Clause 3, Article 35 of Decree No. 01/2021/ND-CP; the request for publication of enterprise registration contents; and payment of the fee for announcement of enterprise contents made at the time the enterprise submits the application for business registration business registration.
The current fee for publishing business registration information is: 100,000 VND/time.
– Small and medium enterprises converted from business households are free to publish the contents of business registration for the first time.
– In case the enterprise is not granted business registration; the enterprise refunded the fee for announcing the business registration content.
It related to Fees paid when registering a business in Vietnam.
You can also refer to the article related to company division in Vietnam, or Registration company in Vietnam after a full or partial division, Cease existence of divided company in Vietnam or Names of Vietnam’s branches and representative offices.
The cost of making the enterprise’s stamp
According to Clause 1, Article 43 of the Enterprise Law 2020, an enterprise’s seal includes a seal made at a seal engraving establishment or a seal in the form of a digital signature.
A new feature of the Enterprise Law 2020 is that it allows enterprises to decide on their own the type, quantity; form and content of their seal. Therefore, the enterprise has the right to decide whether to make a seal or not; and when making a seal, the enterprise does not have to notify the seal sample before use.
However, in some other specialized laws, businesses still require an engraved seal. Therefore, businesses should still engrave the seal to avoid trouble later.
At the same time, when carrying out administrative procedures with state agencies online; usually businesses must have a digital signature, so businesses also need to buy a digital signature.
The cost of stamp engraving ranges from 200,000 VND – 600,000 VND / 1 seal depending on the service provider and the type of seal.
The cost of buying digital signatures ranges from 02-03 million VND/year, depending on the service packages of the provider.
So, it is related to Fees paid when registering a business in Vietnam.
Cost of opening a bank account
Current regulations do not require businesses to open bank accounts. However, currently most tax authorities require payment of taxes through electronic transactions. Therefore, businesses need to have a bank account. At the same time, having a bank account is also more convenient for business transactions.
The cost of opening a business bank account varies from bank to bank. Normally, the cost to top up an account when opening a business account is about VND 1 million.
According to the provisions of Clause 4, Article 37 of the Enterprise Law 2020; the enterprise’s name affixed at the head office, branch, representative office and business location of the enterprise. Therefore, making a business sign is mandatory. If violating this regulation, enterprises fined from VND 10 to 15 million; (point c, clause 2, Article 34 of Decree 50/2016/ND-CP).
The cost of making business signs ranges from VND 200,000 to 300,000 depending on the material, size and service provider.
Fee for purchasing e-invoices and issuing invoices
According to the provisions of Decree 123/2020/ND-CP, from July 1, 2022, businesses required to use electronic invoices.
The cost of buying e-invoices depends on the e-invoice providers; on average about VND 350,000/300 invoices and the invoice issuance fee is VND 500,000.
There are also license fees.
Related questions about Paid Fees when registering a business in Vietnam
License tax is simply understood as the annual tax payable by the business based on the charter capital recorded on the business license. The regulations on license tax are quite numerous and clear, but not all businesses know well about tax levels, payment time and regulations on penalties for excise tax.
To encourage the establishment of new businesses in our country, Decree 22/2020/ND-CP stipulates the license fee exemption as follows:
Exemption of license fees in the first year of establishment or production and business activities (from January 1 to December 31) for:
Newly established organization (granted a new tax code, new enterprise code).
– Households, individuals, groups of individuals starting production and business activities for the first time.
During the license fee exemption period, when an organization, household, individual or group of individuals establishes a branch, representative office, or business location, the branch, representative office, or business location license fees are exempted during the period when organizations, households, individuals, and groups of individuals are exempt from license fees.
Thus, newly established businesses are exempt from license fees for the first year.