Vietnam has a coastline of 3200 km, an exclusive economic zone of about 1 million square kilometers, three times the land area, accounting for nearly 30% of the East Sea area, and 3,000 large and small islands. This factor contributes to the continuous development of the fishing, aquaculture, and seafood processing industry. Entrepreneur who want to establish company in fisheries have to go through certain procedures as well as conditions. So, in this article LSX legal firm provides: “Procedures to establish fisheries company in Vietnam”
Legal grounds
- LAW NO. 18/2017/QH14: LAW ON FISHERIES
- Decree 26/2019/ND-CP
- Law on Enterprise 2020
- Decree 01/2021/ND-CP
Conditions to establish fisheries company
To establish a fishing company, the company must meet the following conditions:
- Have a fishing license.
- Have a business registration certificate.
According to the Law on Fisheries 2017, the conditions to be granted a fishing license include:
For domestic fishing:
- Marine fishing does not exceed the quota on the issuance of marine fishing licenses;
- Not included in the list of banned vocations;
- The commercial fishing vessel requiring inspection is issued with the certificate of technical safety;
- Also, the commercial fishing vessel is provided with communication equipment as prescribed by the Ministry of Agriculture and Rural Development;
- The commercial fishing vessel with a maximum length of at least 15 meters is equipped with a vehicle tracking device in accordance with the Government’s regulations;
- The organization or individual has obtained the registration certificate of commercial fishing vessels;
- Master and chief engineer officer have degrees or certificates prescribed by the Ministry of Agriculture and Rural Development;
For commercial fishing outside Vietnam’s maritime boundary:
- Approved by competent authorities of the countries or territories owning fishing areas or issued with fishing quotas by the RFMOs;
- Commercial fishing vessels are eligible for operation, have been registered, issued with certificates of technical safety whose remaining period is at least 6 months; have sufficient equipment for ensuring the safety of people and commercial fishing vessels, suitable vehicle tracking devices and communication equipment;
- Masters and chief engineer officers have degrees or certificates issued by competent authorities. Crewmembers have insurance and passports. At least one person working on the vessel or group of vessels can use English or a common language of the country or territory where the commercial fishing vessels extract aquatic species. The cross-border departure of commercial fishing vessels is not banned under regulations of law;
- Other conditions prescribed by the RMFO, countries, or territories.
Conditions for establishing an aquaculture company
Conditions for establishing an aquaculture company:
To establish an aquaculture company, the company must satisfy the following conditions:
- Have a certificate of eligibility for producing or raising aquatic breeds.
- Have a business registration certificate.
To be granted a certificate of eligibility for producing or raising aquatic breeds, the aquaculture establishment must satisfy the following conditions:
- Facilities for production are conformable with aquatic species; there are isolation wards for monitoring the health of new-come aquatic species;
- Have technicians who trained in aquaculture, aquatic pathology, or biology;
- Apply a system for controlling quality and biological safety;
- In the case of production of parent aquatic breeds, the producer shall have aquatic purebreds or aquatic breeds that have been recognized through testing or results of science and technology missions that have been recognized or approved by competent authorities.
Procedures to establish a fisheries company
Step 1: Prepare dossiers
- The application form submits to the business registration office requesting the certificate to establish a fisheries 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 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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Related questions
Firstly, Business Name: The company name must include two parts in order: Type of business + Name. Specifically, for a single-member limited liability company: “limited liability company / limited company + company name”. Firms must choose the names written by the letters of the Vietnamese alphabet, letters F, J, Z, W, numbers, and symbols.
Head office: The head office of the enterprise must locate in the Vietnamese territory. It is the contact address of the business and is identified by administrative boundaries. In addition, phone number (required); fax number, and email address (if any).
Owner: The owner of a single-member limited liability company may be an individual or an organization. However, such individual or organization must have full capacity for civil acts and not prohibited by the State from establishing or joining an enterprise.
Also, Business line: enterprises are only allowed to register their business within the scope of business lines which are not prohibited by law. However, for conditional business lines, enterprises must have practice certificates and related legal papers.
Lastly, Charter capital: The capital to establish an enterprise must be suitable to the business line and scale of the enterprise. For enterprises with business lines requiring legal capital, the charter capital must not be lower than the legal capital.
The trademark protection title valid from the date of issue to the end of 10 years from the filing date. When it expires, the owner can extend it further, without limiting the number of extensions.
Contact LSX
Finally, hope this article is useful for you to answer the question about “Procedures to establish marine aquaculture and fishing company in Vietnam”. If you need any further information, please contact LSX Law firm: +84846175333 or Email: [email protected]
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