Logistics is a field with a limited capital contribution ratio for some business lines. Therefore, to determine the investment method in the field of Logistics, foreign investors need to identify specific registered business lines. Below is the advice of Lawyer X on how to set up a Logistics company in Vietnam for readers.
Legal grounds
– Civil Code 2015.
– Enterprise Code 2020
– Decree 163/2017/ND-CP regulating the business of logistics services.
What is a logistics company?
The logistics company is a type of business developing strongly in Vietnam today.
So, the logistics business line is a type of logistics service that includes the transportation of goods; goods storage; packing; Warehouse; Customs clearance or other services related to goods as agreed with customers for remuneration.
In short, all for one purpose is to transport goods from the supplier to the consumer in the most optimal way.
What is the procedure to establish a Logistics company in Vietnam?
According to the Enterprise Law 2020 and Decree 163/2017/ND-CP regulating the business of Logistics services, to establish a logistics company, enterprises need to meet the following basic conditions:
Owner’s Conditions
Depending on the type of business, and the industry you choose when establishing a logistics company, the conditions for the company owner may be different.
Currently, the law is stipulating 4 types of businesses that you can choose from:
– Partnership company
– One member limited liability company or two or more member limited liability company.
For a private company and a partnership, the owner can only be an individual, for a limited liability company and a joint-stock company, the owner can be an individual or an organization.
According to the provisions of the Civil Code 2015 and the Enterprise Code 2020, organizations and individuals opening a logistics company must have full civil act capacity and not be prohibited by the state from establishing or joining a company.
Conditions of occupation when registering
Individuals and organizations have the right to do business in industries that are not prohibited by law. Specifically, in Article 3 of Decree 163/2017/ND-CP, there are regulations on logistics services
When a logistics company conducts part or all of its logistics business by electronic means connected to the Internet, mobile telecommunications networks, or other open networks, in addition to complying with the provisions of the law on For specific services specified in Article 3 of this Decree, regulations on e-commerce must also be complied with.
In addition, for foreign investors, except to comply with the above conditions, they also need to meet the conditions specified in Clause 3, Article 4 of Decree 163/2017/ND-CP or choose to apply using investment conditions under international treaties that Vietnam has signed.
Conditions on logistics company name
The law has detailed regulations on business names, ensuring pure Vietnamese customs and traditions, avoiding confusion with other companies. Accordingly, the company name must not be the same or cause confusion with the names of other registered enterprises; using words and symbols that violate the historical, cultural, ethical, and fine traditions of the nation, etc.
Head office conditions
According to the provisions of Article 42 of the Law on Enterprises in 2020:
The head office of the enterprise is located in the Vietnamese territory, is the contact address of the enterprise, and is determined according to the geographical boundaries of the administrative unit; have a phone number, fax number, and email (if any).
Note that, the address of the head office must be registered in the application for registration of the establishment of the enterprise.
Particularly, the address of the head office of the company must be accurate, clear, and under the lawful use of the enterprise, which can be the property of the enterprise or rented or borrowed with full papers.
When changing the head office, it will not change the rights and obligations of the enterprise concerning contractual, civil, and legal relations of the enterprise.
Capital conditions
Normally, when establishing a company, there are two types of capital: Charter capital and legal capital.
– Charter capital
The law has no regulations on the minimum and maximum amount of capital to be contributed.
However, after 90 days from the time of capital contribution commitment, when there is not enough contributed capital, the enterprise must carry out procedures to reduce charter capital.
Therefore, you should carefully choose a reasonable level of charter capital to ensure that no risks arise.
▪ Legal capital
Legal capital is a required amount of capital to be able to conduct business in one or several conditional business lines.
Conditions of seal
The seal is very important to the business. It expresses the will of the company in every transaction.
Therefore, the current law also stipulates very closely, stipulating the size and design so that it is uniform and suitable.
When establishing a logistics company, you must also comply with the regulations on design and size, to comply with the provisions of the law as well as create uniformity and convenience.
Please see more articles
Setting up a company, fast business package in Vietnam
Conditions for foreign investors providing logistics services
Frequently asked questions
The agency competent to receive the application for the establishment of a logistics company is the Business Registration Office under the provincial Department of Planning and Investment.
After being granted an enterprise registration certificate, a newly established logistics company needs to perform the following tasks:
Hang company signs;
Then, engraving company seal;
Contribute capital to the company;
Register for a business bank account;
Particularly, register to use an online digital signature (Token) for tax purposes as well as online tax return submission;
Notice of issuance of VAT invoices;
To declare and pay taxes after opening a business;
Labor declaration, payment of social insurance for employees.
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