The latest procedures to establish a branch of an LLC in Vietnam
Many Limited Liability companies (LLCs) often choose to establish branches to expand the development and access potential markets. So, how to carry out procedures to establish a branch for an LLC? Follow this article of LSX legal firm to have an insight of “The latest procedures to establish a branch of an LLC in Vietnam”.
Legal ground
- Law on Enterprise 2020
Company branch
Branch means a dependent unit of the company to carry out production and business activities to generate profits. The law on Enterprise allows branches to operate in all lines of business registered by the head enterprise. So, many limited companies choose to establish branches because of this benefit.
Dossiers to establish a branch for LLCs
The first step of the procedure for setting up a branch of a limited company is to prepare the needed dossiers:
- Notice of establishment of the branch (signed by the legal representative of the enterprise).
- A written decision on the establishment of a branch of the company owner (for a single-member limited liability company); or Board of Members (for limited liability companies with 2 or more members).
- A valid copy of the decision to appoint the head of the branch.
- A valid copy of one of the personal identification papers of the head of the branch: identity card, passport…
Note: Particularly for the establishment of a branch of a limited liability company with 2 or more members, the company must submit minutes of the Board Members meeting on the establishment of the company’s branch.
Submit dossiers to establish a branch for LLCs
After completing the application for the establishment of a branch, the company submits the dossiers to request the Department of Planning and Investment where the branch located for a certificate to establish.
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.
Receive result
After checking the application; if valid, the Business Registration Office under the Department of Planning and Investment enter the information into the National Business Registration Information System to request the branch number then issue a branch operation registration certificate.
- In case of applying directly at the Business Registration Office: The company come to receive the Certificate of Business Registration according to the appointment letter.
- In case of online business registration application: Based on the appointment time to return results, the company bring a set of business registration application (paper copies) together with the receipt of electronic business registration application to the Business Registration Office to receive the Certificate of Business Registration.
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.
Related articles
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Vietnamese procedures to establish Single-member LLC
Should you establish a Joint-stock or Multi-member LLC in Vietnam?
Related questions
Firstly, Certificate of business registration.
Secondly, Company Charter or equivalent document.
Thirdly, Audited financial statements for the most recent financial year.
Fourthly, Bank confirmation of account balance equal to the amount of capital contributed to the company will establish in Vietnam.
Also, The Company’s decision relates to the investment in establishing the Company in Vietnam and appointing a representative to manage the contributed capital in Vietnam.
Lastly, Passport of the legal representative in case of appointed as the Director of the Company or the representative managing the contributed capital.
Papers and documents in the enterprise registration dossier are made in Vietnamese.
In case the enterprise registration dossier contains documents in a foreign language, the dossier must have a notarized Vietnamese translation enclosed with the foreign language documents.
In case the papers and documents in the enterprise registration dossier are made in Vietnamese and foreign languages, the Vietnamese version shall be used to carry out the business registration procedures.
Contact LSX
Finally, hope this article is useful for you to answer the question about “The latest procedures to establish an branch of a LLC in Vietnam”. If you need any further information, please contact LSX Law firm: +84846175333 or Email: [email protected]
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