Procedures for notification of changes in business lines of foreign-invested companies in Vietnam

by BichNgoc

Today, LSX Lawfirm will give you an article about: “Procedures for notification of changes in business lines of foreign-invested companies in Vietnam”, as follows:

Law on investment 2020

Law on enterprise 2020

Procedures for notification of changes in business lines of foreign-invested companies in Vietnam

After carrying out the procedures for adjusting the business lines on the investment license; the foreign-invested company must carry out the procedures for notifying the change of business lines according to the following steps:

Step 1: Prepare a dossier of notification of business line change

(1) So, Notice of change of business registration information signed by the legal representative of the enterprise;

(2) So, Resolution, decision and copy of meeting minutes of the Members’ Council; for limited liability companies with two or more members, partnerships; of the General Meeting of Shareholders; for joint-stock companies ; resolutions and decisions of the company owner, for single-member limited liability companies, on the change of business lines or lines.

You can refer to current cases of business transformation in Vietnam, or procedures for changing the head of a representative office of a foreign trader, dossier to change the name of a company with foreign capital.

Step 2: Submit the application to the competent authority

Enterprises submit documents to the Business Registration Office where the enterprise’s head office is located

So, after receiving the business registration dossier; then the Business Registration Office shall issue a receipt, check the validity of the application and then market access conditions for the industries and trades with limited market access for the business. foreign investors; according to the provisions of the law on investment; update information about the business lines of the enterprise in the National Database of Business Registration. In case the enterprise needs, the Business Registration Office shall issue a Certificate of change of business registration information to the enterprise.

Note about Procedures for notification of changes in business lines of foreign-invested companies in Vietnam

When changing the business lines of the foreign-invested company; the investor should review the conditions of the investment industry in accordance with the provisions of the Law on Investment; then Industry banned from investment, business lines subject to conditions; industry and market access conditions for foreign investors. In addition, investors need to meet market access conditions for foreign investors

  • So, Rate of ownership of charter capital of foreign investors in economic organizations;
  • Investment form;

– So, scope of investment activities;

  • Investor’s capacity; partners participating in investment activities;
  • Then, other conditions as prescribed in laws, resolutions of the National Assembly; then ordinances and resolutions of the National Assembly Standing Committee; decrees of the Government and international treaties to which the Socialist Republic of Vietnam is a member.

Related questions about procedures for notification of changes in business lines of foreign-invested companies

Business profile to prepare?

– Notice of change of business registration content (industry is coded according to industry code level 4 of Vietnam Economic Industry System);
Minutes on the change of business lines (of the Board of Directors of a joint-stock company, of the Board of members of a limited liability company with two or more members…);
– Decide on the change of business lines of the company;
– An application for publication of business registration information on the National Enterprise Portal;

Contact LSX Lawfirm

Finally, hope this article is useful for you to answer the question about: “Procedures for notification of changes in business lines of foreign-invested companies in Vietnam”, please contact  LSX Law firm : +84846175333 or Email: hoangson@lsx.vn

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