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Business establishment requirements in 2020

Business establishment requirements in 2020

Monday 04, 05 2020
Starting your own business can be tricky, and not equipping yourself with the necessary knowledge is a disadvantage for future business owners on the path of starting a business.

The company establishment file:

According to the Law on Enterprises and Decree 78/2015 / ND-CP, a company establishment file includes:

  • A certified copy of ID card or passport or citizen ID card

  • An application for a certificate of enterprise registration.

  • The company charters

  • The list of members of the limited liability company with two or more members or the list of the founding shareholders

Company establishment time:

It takes

  • 03 working days to complete the business registration certificate

  • 15 minutes for seal engraving and 24 hours for company seal notification

  • 05 minutes for the procedure to publish on the national portal

Company establishment costs

  • Business registration fee: 200,000 VND

  • Seal fee and seal sample announcement fee: 500,000 VND

  • Report on the national portal for business registration: 300,000 VND

​The total company establishment fee is 1,000,000 VND.

Information regarding the company expected to be established:

4.1. The company’s name

  • The expected name of an enterprise must not be identical or confusing with that of other businesses.

  • The name of an enterprise may be in Vietnamese or another language composed of the letters A to Z in the Latin alphabet.

4.2. The company’s address

In 2014, the National Assembly passed the Housing Law which took effect from July 1, 2015. Accordingly, one of the prohibitions of this law specified in Article 6 is to use an apartment for non-residential purposes. Therefore, the company is not allowed to locate its head office in an apartment building (except for apartment buildings with a commercial area - Officetel).

4.3. The company’s operating fields

Enterprises are allowed to do business in industries and trades not prohibited by law. If dealing in conditional industries, after being granted enterprise registration certificates, they must meet the business conditions prescribed by the Government before conducting business. When registering a business, there is no need to prove business conditions. People may refer to the industries list here:

Business establishment requirements in 2020

4.4. The company’s capital

Enterprises can honestly declare the expected investment capital without proof. Under the Enterprise Law, members/shareholders must contribute the capital within 90 days after being granted a business registration certificate. This provision will be amended to 36 months in the 2014 revision of the Enterprise Law.

Charter capital can affect license fees as follow:

  1. Organizations with a charter capital or investment capital of over 10 billion VND have to pay 3,000,000 VND / year;

  2. Organizations with a charter capital or investment capital of 10 billion VND or less: 2,000,000 VND / year;

4.5. The company’s legal representative

The 2014 Enterprise Law allows the registration of many people as legal representatives of the company. This is a new regulation in favor of businesses in case the representative is often absent.



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