Currently, there are 4 types of enterprises: Private enterprises, partnerships, limited liability companies, joint stock companies. After determining the type of business, the business owner needs to prepare a complete and detailed dossier of business establishment requirements.

1. Business establishment dossier

According to the provisions of the Enterprise Law 2020, Chapter IV of Decree No. 01/20121 on the order and procedures for business registration, enterprise establishment dossiers in Vietnam will include the following types of documents:

• Application for business registration;
• Draft enterprise charter;

• Valid identity card or passport (for individuals);
• Certificate of business registration for the organization and enclosed with personal identification papers, authorization decision of the authorized representative of the organization (for organizations);
• List of members for two-member limited liability companies or list of founding shareholders for joint-stock companies;
• Power of attorney;
• Other required documents.

2. Procedures for registration of enterprise establishment in Vietnam

Submission of dossiers for issuance of the Certificate of Business Registration

After preparing all documents and ensuring that the necessary documents have been checked, the business owner submits an application for the Certificate of Business Registration through the National Business Registration Portal.

Paythe fee for disclosure of business registration information in Vietnam

At the same time, business owners also need to pay the business registration information disclosure fee in parallel with the procedure for submitting an application for business establishment registration in Vietnam.

The business registration fee can be paid directly at the Business Registration Office or into the account of the Business Registration Office.

If the fee has been paid simultaneously with the application, the enterprise will be issued an Enterprise Registration Certificate and published business information on the National Business Registration Portal.

Normally, the time to complete this stage will take 3-5 working days.

Engraving of the corporate legal entity seal

After obtaining the Certificate of Business Registration, the enterprise needs to engrave the legal entity seal.

Seal includes seals made at seal engraving establishments or seals in the form of digital signatures in accordance with the law on e-transactions.

According to the provisions of the Enterprise Law 2020 effective from January 1, 2021, enterprises have the full right to decide on the type, number, form and content of seals of enterprises, branches, representative offices and other units. The enterprise engraves the seal itself and manages the seal itself, taking responsibility for its own seal.

4. Procedures to follow after establishing a business in Vietnam

After fully implementing the procedures for establishing a business in Vietnam, enterprises should pay attention to the following necessary tasks:

• Post the statement of incorporation.

According to the provisions of the Enterprise Law, within 30 days from the date the enterprise is granted the Business Registration Certificate, the enterprise must post information on the Enterprise Portal of the business registration agency. This is a must in accordance with the law. The business owner will pay a fee to post the statement.

 

In addition, business owners should also note that in some of the following cases, businesses will not have to post statements, including:

§  Enterprises only update and supplement information according to current regulations in the latest Circular 01/2021/TT-BKHDT.

§  Proceed to update information about industry codes, business lines and main business lines codes.

§  Change the Certificate of Business Registration and Tax Registration but do not change the contents of business registration.

§  Carry out tax registration according to current regulations in Circular 01/2021/TT-BKHDT.

• Hang the business sign at the registered office address.
• Register the initial tax return with the managing tax authority within the prescribed time limit.
• Register for tax declaration electronically through digital signature services.
• File license tax returns and pay license fees.
• Filing a notice of application of value-added tax calculation method.
• Carry out procedures for purchasing, ordering printing, self-printing invoices.
• Fully prepare business conditions for conditional business lines.