Procedures to establish company selling electrical appliances in Vietnam

Household electrical appliances are essential and stable commodities; Therefore, trading in household electrical appliances grows strongly on the market. However, to set up a business selling electrical appliances you need to go through certain procedures. In this article, LSX legal firm introduces: “Procedures to establish company selling electrical appliances in Vietnam”

Legal grounds

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

Household electrical appliances

Household appliances refer to general items, goods, and electrical equipment that are equipped and used to serve the households. They satisfy the needs of regular use for the daily life of families.
Normally, household electrical appliances are usually electrical and refrigeration equipment for daily life and some household functions, such as cooking or cooling, food preservation, sound, light, etc.

Notes to establish a company selling electrical appliances for households

• 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.
• 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.
• Capital: Companies must declare the level of charter capital in accordance with the provisions of the law when doing business in the household electrical appliances
• Shareholders/Founding members: a joint-stock company, a limited liability company with two or more members, or a partnership must specify the capital contribution ratio together with individual legal papers such as ID card or passport.
• Legal representative: can be one or more depending on the needs of the company. When submitting a business registration application, the company must provide personal information along with the title of the representative. In case the legal representative is hired by the company, it is necessary to provide a labor contract and appointment decision.
• Business registration code: Decision No. 27/2018/QD-TTg stipulates the content of the system of economic sectors, enterprises must register business lines in accordance with their operation needs and code the lines according to the provisions. Retail sale of electrical household appliances, beds, wardrobes, tables, chairs and similar furniture, lamps and luminaires, and other household appliances not yet classified in specialized stores – Code 4759.

Procedures to establish company selling household electrical appliances

Step 1: Prepare dossiers

At this step, for each type of company, the requirements for the profile that you need to prepare differs. However, in general, no matter what type of company, you need to prepare the following basic documents:

• The application form submits to the business registration office requesting the certificate to establish a car rental 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.
• 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. The 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 carrying out these procedures, 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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Contact LSX

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