Vietnamese procedures to establish a Multi-member LLC

Due to the development of the economic market, the need to establish a company in Vietnam increases day by day. Accordingly, when establishing a company in Vietnam, people must meet carry out certain procedures. A limited liability company with two or more members is a very popular type of company and is chosen by many people. So, what are the Vietnamese procedures to establish a Multi-member LLC? LSX legal firm provides this article to give you instructive information about this problem.

Legal ground

• Law on Enterprise 2020

Why establishing a company?

Establishing a company means expanding your business model. Also, setting up a business will bring you the following benefits:

• Decent: The business that is registered is a manifestation of the legitimacy of the operation. This is the basis for building trust with partners.
• Confident: When entering into a contract as a legal entity, owners can proactively present their licenses/certificates when required.
• Process: The company will have a strict structure and management. This ensures the best interests when operating, expanding, and mobilizing.

Procedures to establish a Multi-member LLC

The procedure for establishing a Limited Liability Company (LLC) has basic differences compared to a Joint Stock Company. Because the Limited Company includes two types:

• Single-member limited liability company: only 01 capital contributor. That person is the owner of the company.
• Limited liability companies with two or more members: from 02 (two) to 50 (fifty) contributors. They are capital contributors of the company.

Procedures for establishing a limited liability company with two or more members include:

Step 1: Prepare dossiers

An application for enterprise registration.

• Company charter

• Copies of legal papers of the legal representative; authorized person; members as individuals; members as organizations. In case the members are foreign organizations/investors, there must be investment registration certificates. Also, copies of legal documents must be consular legalized.

• List of members.

• Authorization document: In case the owner does not directly carry out the procedure.

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.
• 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. 

Once you have submitted your application, you will receive a receipt for your application. The 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.
• 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.

Related article

Application for registration of a Multi-member LLC in Vietnam

Establish a Multi-member LLC under Vietnamese Law on Enterprise 2020

Procedures to set up a Single-member LLC in Vietnam

Related questions

Contact LSX

Finally, hope this article is useful for you to answer the question about “Vietnamese procedures to establish a Multi-member LLC?”. If you need any further information, please contact  LSX Law firm: +84846175333 or Email: [email protected]

Conclusion: So the above is Vietnamese procedures to establish a Multi-member LLC. Hopefully with this article can help you in life, please always follow and read our good articles on the website: lsxlawfirm.com