State management of enterprise registration in Vietnam

by BichNgoc

Today, LSX Lawfirm will give you an article about: “State management of enterprise registration in Vietnam”, as follows:

Law on enterprises 2020

Decree No. 01/2021/ND-CP

The Ministry of Planning and Investment in Vietnam

The Ministry of Planning and Investment shall:

Firstly, Promulgate or request competent authorities to:

  • Promulgate legislative documents on enterprise registration and household business registration
  • Then, guidelines for document templates
  • Reporting serving enterprise registration, household business registration, and online enterprise registration

You can also refer to the article related to Tasks and powers of Vietnam’district-level business registration authorities, Tasks and powers of Business Registration Offices to know more about information about enterprise registration in Vietnam.

Secondly, provide:

Professional instructions

  • Training for business registration authorities, business registration officials and any entities in demand
  • Then, Provide instructions for Business Registration Offices on document digitalization, data standardization
  • Update enterprise registration data in their provinces on the National Enterprise Registration Database

Thirdly, expedite, direct, monitor and supervise the enterprise registration process.

Provide information about:

  • Enterprise registration
  • Legal status
  • Then, Financial statements
  • Other information of enterprises on the National Enterprise Registration Database for relevant agencies of the Government and any entities in demand.
  • Organize the establishment.
  • Then, Management and development of the National Enterprise Registration Information System
  • Assist Business Registration Offices, enterprises, their founders and other entities in using the National Enterprise Registration Information System
  • Then, Provide instructions on building up local funds for operation of the National Enterprise Registration Information System

Finally

  • Take charge and cooperate with the Ministry of Finance in the connection between the National Enterprise Registration Information System and the tax registration information system.
  • Then, take charge and cooperate with the Ministry of Finance in formulating a plan for adoption of interconnected procedures for business registration and tax registration for household businesses in conformity with actual conditions.
  • Engage in international cooperation in enterprise registration.

The Ministry of Finance in Vietnam’s State management of enterprise registration

Firstly, cooperate with the Ministry of Planning and Investment in connecting the National Enterprise Registration Information System and tax registration information system in order to issue enterprise ID numbers, ID numbers of enterprises’ affiliates and business locations and exchange of information about enterprises.

Secondly, The State Securities Commission of Vietnam (SSC) shall transfer data on securities companies, securities investment fund management companies, branches in Vietnam of foreign securities companies, and provide the list of securities companies, securities investment fund management companies, branches in Vietnam of foreign securities companies  for business registration authorities for considering granting enterprise registration certificates to such entities in accordance with the Law on Securities.

Thirdly, Ministries, ministerial agencies, Governmental agencies, within the ambit of their assigned functions, tasks and powers, have the responsibility to provide instructions on regulations on business conditions; then carry out inspections and take actions against any failure to satisfy business conditions; review and publish the list of conditional business lines and business conditions on their websites; send them to the Ministry of Planning and Investment for publishing on the National Business Registration Portal.

Finally, Provincial-level People’s Committees shall provide adequate human resources, funding, and other resources for business registration authorities to perform their tasks and powers as prescribed herein.

Related questions

Which agency has the authority to do state management of business registration in Vietnam?

The Ministry of Planning and Investment and the Ministry of Finance have the authority to do state management of business registration in Vietnam.

How is the business registration agency in Vietnam represented?

1. Each of provinces and central-affiliated cities (hereinafter referred to as “provincial level”) and urban/suburban districts, district-level towns and provincial cities (hereinafter referred to as “district level”) shall have a business registration authority. To be specific:
a) The provincial-level business registration authority is the Business Registration Office which is affiliated to the provincial Department of Planning and Investment (hereinafter referred to as “Business Registration Office”).
Each Business Registration Office may open branches within the province to receive applications and return results;
b) The district-level business registration authority is the Finance – Planning Department affiliated to the district-level People’s Committee (hereinafter referred to as “district-level business registration authority”).
2. Each business registration authority has its own account and seal.

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Finally, hope this article is useful for you to answer the question about: “State management of enterprise registration in Vietnam”, please contact  LSX Law firm : +84846175333 or Email: hoangson@lsx.vn

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