Procedures to establish a bicycle manufacturing company in Vietnam

Today, it seems that every family has at least one motorbike as a means of transportation and for daily life tasks. However, not so that the bicycle loses its value and use. More and more bicycle businesses established each year. Besides, you have to carry out certain procedures to establish a company manufacturing bicycle. So, in this article, LSX legal firm would like to introduce: “Procedures to establish a bicycle manufacturing company in Vietnam”

Legal grounds

• Law on Enterprise 2020
• Decree 01/2021/ND-CP
• Decree 47/2021/ND-CP

Bicycle manufacturing

The bicycle manufacturing industry group has codes from 3092 – 30920, including the activities specified in Appendix II issued together with Decision 27/2018/QD-TTg on Vietnam’s economic sector system issued by the Prime Minister.

• Manufacture of non-motorized bicycles and other bicycles, including tricycles (transportation), multi-seaters, two-wheelers, and children’s tricycles;
• Manufacture of bicycle parts and components;
• Producing vehicles for the disabled with or without a motor;
• Manufacture of vehicle parts and components for the disabled;
• Manufacture of baby carriages.

Not included:

• Manufacture of bicycles with auxiliary engines, under class 30910 (Manufacture of motorcycles);
• Manufacture of toys with handlebars, including bicycles and tricycles made from plastic under class 32400 (Manufacture of toys and games).

Is bicycle manufacturing a conditional business?

The law stipulates 243 conditional business lines such as producing seals, trading in supporting tools (including repair), trading in equipment, camouflage software used for recording, recording, positioning, trading in military equipment,… To conduct the business of these lines, businesses have to satisfy certain conditions prescribed by the law.

However, bicycle manufacturing business does not belong to the group of conditional business lines. From that, the bicycle manufacturing service performs like an ordinary service industry. So, since the law does not prescribe specific conditions, nor does it belong to the group of conditional business services, the owner not required to prepare specific papers when carrying out the establishment procedure.

Basic to establish a bicycle manufacturing company

1. Name of the company: The name must not overlap or similar to other businesses. The proper name shall consist of letters in the Vietnamese alphabet, the letters F, J, Z, W, numbers, and symbols. Also, displays the headquarters, branches, representative offices, and business locations of the enterprise and printed or written on transaction documents, records, and printed materials published by the enterprise.
2. Also, address of the business: The company must have a specific, clear, and accurate address. The head office of the business cannot be an apartment building or a dormitory..
3. 4 common types of companies: partnership, limited liability company (Single-member and Multi-members), sole proprietorship and joint stock company. Owners should properly assess their economic, human, financial capabilities as well as their own desires to choose the most suitable type of company in the production of bicycles.4
4. Business lines: There are many specific business lines in the bicycle manufacturing service system as listed above. Therefore, the subjects should consider carefully before registering the business line to avoid problems or difficulties encountered in the process of operating the bicycle manufacturing company in the future.

Procedures to establish a bicycle manufacturing company

Step 1: Prepare dossiers

• The application form submits to the business registration office requesting the certificate to establish a bicycle manufacturing company
• Draft of company charter.
• List of founders as well as members.
• Authenticated legal papers of members.
• Valid identification papers of the authorized representative and the legal representative.
• Legal capital confirmation document.
• Certificate of business registration (for organizations).
• Investment registration certificate for foreign investors.

Step 2: Submit dossiers

Submit the application at the Business Registration Office of the Department of Planning and Investment at the province level where you plan to locate the head office of your Company.

Currently, there are two forms to submit an application:

• Register directly: apply at the “one-stop” department of the Business Registration Office. However, in Hanoi, this method is no longer applied.
• Besides, online business registration: submit your application on the National Business Registration Portal (Address: https://dangkykinhdoanh.gov.vn). After the online application is valid, you will have to go directly to the “one-stop” department to return the scanned copy (hard copy) when submitting it online. However, this method is relatively complicated, requiring you to have skills and knowledge about registering a business account.

Once you have submitted your application, you will receive a receipt for your application. Then, usual processing time for applications will be 3 working days.

Step 3: Receive result

According to the schedule on the appointment, you return to the “one-stop” department of the Business Registration Office to receive the results. There are two possible scenarios:

• Dossiers valid: You will receive a Certificate of Business Registration as a result and a notification to the tax authorities.
• In contrast, dossiers invalid: The Business Registration Office will have a document instructing you to amend the dossiers in accordance with the provisions of the law. After the amendments and supplements to your application according to this guide, then resubmit your application as in Step 2.

Step 4: Post-establishment procedures.

Receiving a Business Registration Certificate is just the first step in putting your company into operation. After that, you have to do the following series of procedures:

• Notice the use of the company’s seal sample.
• Bank account notice (if your company registers a bank account).
• Tax procedures such as license declaration and payment of license fees, Tax on corporate headquarters inspection,…
• Trademark protection (if you need it).
• …

After all, your Company can go into operation.

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.

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Procedures to establish Joint-stock company in Vietnam

Related questions

Contact LSX

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