Register business online in Vietnam

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Recently, the demand for business establishments keep increasing for years. Besides, The implementation of online business registration became more and more widespread and popular. This helps individuals and organizations complete the procedures related to business registration quickly and easily. In case you want to invest in a business and open a company of your own, follow this article. LSX legal firm gives you a guideline: “Register business online in Vietnam”

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

Can you set up a business online?

In the 4.0 era, in order to save time as well as simplify administrative procedures, the Ministry of Planning and Investment has implemented nationwide business registration online. Therefore, it is possible to complete administrative procedures for business registration online. Indeed, it has become very popular.
People can carry out this registration simple, easy, convenient, and saves a lot of time than when working directly at a state administrative agency and still achieving the same results. Individuals and organizations can apply for business registration online on the National Business Registration Portal.
Besides, to carry out online business registration procedures, individuals, organizations, and individuals need to use a public digital signature or register an Account at the National Business Registration Portal to log in and use this site.
According to Clause 1, Article 42 of Decree No. 01/2021/ND-CP, online enterprise registration means the application for enterprise registration which submitted by the enterprise or its founder via the National Business Registration Portal. Applicants are entitled to use digital signatures in accordance with regulations of the Law on electronic transactions or business registration accounts to apply for enterprise registration online.

Pros and cons of online business registration

Advantages of online registration

  • Firstly, the outstanding advantage of the online registration method is that the enterprise can actively arrange the time to submit the application to the business registration agency via the internet connection.
  • Secondly, the submission process – tracking the application processing and receiving the receipt is done online.
  • Thirdly, quick and simple procedures. Ensure transparency, high accuracy, automatic data processing system, minimize errors and loss of declarations in the process of storing records and documents.
  • Online registration helps save time and costs, especially in cases where businesses set up branches, representative offices, and business locations in other provinces.
  • Also, according to Circular 47/2019/TT-BTC, dated August 5, 2019, of the Ministry of Finance, the cost of business registration reduced to 50,000 VND; the cost of posting information reduced from 300,000 VND to 100,000 VND.

Disadvantages of online registration

  • Users must master the process, and educate themselves on how to register, modify and supplement records when required. Otherwise, it will take a lot of time and effort for this.
  • Do not receive direct advice from agencies and departments, exchange all information through writing and email.
  • After receiving the results of online business registration, individuals and organizations still have to go directly to the Department of Planning and Investment to submit the hard copy and receive the results in person.

Steps to register a business online

In the case of using a public digital signature

Firstly, individuals or organizations send registration documents by downloading electronic documents, declaring information, digitally signing, and paying fees online;
Secondly, after completing the application; individuals and organizations receive the receipt of business registration documents electronically;
Thirdly, If the application valid, the Business Registration Office will send information to the tax office to automatically generate a business code. If the dossier is not valid, it will be notified online for the enterprise to amend and supplement;
Fourthly, after the tax authority provides the tax identification number, the Business Registration Office shall issue the Certificate of Business Registration and notify the enterprise in online.

In the case of using a business registration account

Step 1: Enterprises register for an account, log in to the system and prepare online business registration dossiers.

To use the online business registration page; businesses first need to have an account to log in to the system and to submit documents with an account to register their business.
Enterprises use registered accounts to download electronic documents, declare information, and authenticate business registration documents.
Then, prepare online dossiers according to the provisions of Decree 78/2015/ND-CP on business registration but in the form of electronic documents.
The legal representative of the enterprise or the person authorized to represent signs or authenticates the dossier.

Step 2: Enterprises submit online business registration dossiers.

Enterprises scan documents and papers included in the dossiers and upload them.
After entering the information and downloading the document file contained in the application; the legal representative of the enterprise shall sign for authentication specifying the title and full name and then apply.

Step 3: The business registration office receives and processes the application.

After receiving the application; the business registration office will send the business registration application receipt and payment confirmation receipt to the business via email.
If the application valid; the Business Registration Office will send information to the tax office to automatically open a business code. In case the dossier invalid, the Business Registration Office will notify via email for the enterprise to amend and supplement;

Step 4: Enterprises receive business registration results and receive business registration certificates

After creating the tax code, the Business Registration Office issues the Certificate of Business Establishment Registration and sends an email notification to the enterprise;
After the enterprise receives the notification by email about the issuance of the Enterprise Registration Certificate, the legal representative must submit a hard copy of business registration documents together with the receipt of the online business registration to the Business Registration Office;

LSX legal firm provides legal services to clients in various legal areas. To make your case convenient, LSX will perform:

  • Legal advice related to new regulations;
  • Representing in drafting and editing documents;
  • We commit the papers to be valid, and legal for use in all cases;
  • Represent to submit documents, receive results, and hand them over to customers.

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.

Notes for business establishment

Firstly, choosing the company’s type
According to the provisions of the Law on Enterprise 2020, these are the types of companies: Sole proprietorship, partnership, single-member limited liability company, multi-member limited liability company, joint-stock company. Each type of business has different legal characteristics, so choosing a type for business depends on the purpose and conditions of each investor.
Secondly, business lines
Enterprises are allowed to do business in every industry that is not prohibited by the law. However, depending on the lines, the business must meet the conditions before and/or after the business registration.
Thirdly, business name
After choosing the appropriate type of business investors can choose the company name, according to Article 37 of the Law on Enterprise 2020
Fourthly, headquarter address
Investors should choose clear addresses. Besides, the headquarter must not locate in apartment or dormitory buildings.

Application for registration of a limited liability company?

1. The enterprise registration application form.
2. The company’s charter.
3. The list of members.
4. Copies of:
a) Legal documents of members who are individuals and legal representatives;
b) Legal documents of members that are organizations, documents about the designation of authorized representatives, and their legal documents.
Legalized copies of legal documents of the members that are foreign organizations.
c) The Certificate of Investment Registration of foreign investors as prescribed by the Law on Investment.

Application for registration of a partnership?

1. The enterprise registration application form.
2. The company’s charter.
3. The list of partners.
4. Copies of legal documents of the partners.
5. Copies of the Certificate of Investment Registration of foreign investors as prescribed by the Law on Investment.

Contact LSX

Finally, hope this article is useful for you to answer the question about “Register business online in Vietnam”. If you need any further information, please contact  LSX Law firm+84846175333 or Email: [email protected]

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