In Vietnam, in case the enterprises wish to change their business lines; they shall carry on the procedure following the Enterprise Law. Therefore, in this article, LSX will give you details on the procedures for the announcement of changing business lines in Vietnam.
- 2020 Enterprise Law
- Decree 01/2021/ND-CP
Dossier for the announcement of changing business lines
Accordingly, the enterprise must prepare a dossier for the procedure; which contain the following documents:
- Notice of change of business registration information signed by the legal representative of the enterprise
- Resolutions, decisions and copies of meeting minutes of the Members’ Council, for limited liability companies with two or more members, partnerships; that of the General Meeting of Shareholders for joint-stock companies; resolutions and decisions of the company owner for single-member limited liability companies on changing business lines.
Procedures for the announcement of changing business lines
Hence the Article 56, Decree 01/2021/ND-CP; the enterprises must practice the following steps, to change the business lines:
Step 1: Submit the dossier
Firstly, the applicants must finish gathering the necessary documents. Then, they shall send the dossier to the Business Registration Office where the enterprise’s head office is located.
Step 2: Update the information on the business lines
Subsequently, after receiving the business registration application; the Business Registration Office shall issue a receipt, check the validity of the application and market access conditions for foreign investors under the law on investment. Then, they shall update the information on the business lines of enterprises 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.
Above is the information on the procedures for the announcement of changing business lines in Vietnam. Hope that the article could help you solve your problem. In case you have any questions, please contact Lawyer X for quick and best legal services: 0833102102.
Accordingly, the time for the business registration agency to process the application for change of business line is 03 working days after receiving the complete and valid application.
The list of conditional business lines and industries is specified in Appendix IV of the Law on Investment 2020.
Thus the Circular 47/2019/TT-BTC, announcement fee on changing business lines – business registration content is VND 100,000.