Today, LSX Lawfirm will give you an article about: “Tasks and powers of Business Registration Offices in Vietnam”, as follows:
Law on enterprise 2020
Decree No. 01/2021/ND-CP
Business registration authorities in Vietnam
Accordingly, 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) Firstly, 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) Secondly, 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”).
Each business registration authority has its own account and seal.
You can refer to the the dossier for registration of personal tax identification for foreigners, or procedures for setting up a foreign-owned enterprise/company account for 1% to 100% in Vietnam, or the role of FDI in Vietnam’s econom, or some basic information about enterprise registration in Vietnam.
Tasks and powers of Business Registration Offices in Vietnam
Firstly, the Business Registration Office shall directly
- Receive applications for enterprise registration
- Examine their validity
- Issue or reject to issue enterprise registration certificates.
Secondly, provide instructions for enterprises and their founders on
- Required documents and procedures for enterprise registration
- Provide instructions for district-level business registration authorities on required documents and procedures for registration of household businesses.
Thirdly, cooperate in Tasks and powers of Business Registration Offices in Vietnam
- Developing, managing and operating the National Enterprise Registration Information System
- Carry out data standardization
- Update local enterprise registration data on the National Enterprise Registration Database.
Fourthly, provide information about Tasks and powers of Business Registration Offices in Vietnam
- Enterprise registration on the National Enterprise Registration Database within the province to the provincial-level People’s Committee
- So, provincial-level Department of Taxation, Anti-money Laundering Department affiliated to the State Bank of Vietnam (SBV) upon its request, and relevant agencies and entities as prescribed by law.
Then, request enterprises to report their observance of the Law on Enterprises.
Directly carry out inspections or request competent authorities to carry out inspections at enterprises according to their applications for enterprise registration.
Finally about Tasks and powers of Business Registration Offices in Vietnam
- Carry out inspections of district-level business registration authorities for their performance of tasks and powers when following household business registration procedures.
- Then, request enterprises to suspend conditional business lines or business lines restricted to foreign investors.
- Revoke enterprise registration certificates and certificates of branch/representative office registration in accordance with regulations of law.
- Finally, grant business registration to other entities as prescribed by law.
1. Establishing enterprises is the right of every entity. This right is protected by the State.
2. The enterprise’s founder or the enterprise has to fully and promptly fulfill the obligation to apply for enterprise registration, disclose information about establishment and operation of the enterprise in accordance with regulations herein and relevant legislative documents.
3. Business registration authorities and other agencies are prohibited to harass applicants while receiving and processing applications for enterprise registration.
4. Ministries, ministerial agencies, People’s Councils and People’s Committees at all levels are not permitted to promulgate their own regulations on enterprise registration. Regulations on enterprise registration promulgated by Ministries, ministerial agencies, People’s Councils and People’s Committees at all levels that are contrary to regulations herein shall be no longer valid.
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