BUSINESS ESTABLISHMENT DOCUMENTS

Business establishment is a legal procedure conducted by the business owner at competent management agencies and state agencies. These documents and procedures will be simple or complex depending on the type of company.

1.  Overview of business establishment activities

Enterprise establishment is the fact that organizations and individuals wishing to produce and do business in the market carry out legal procedures at competent state agencies in order to determine the legal status for enterprises and ensure their operation under the protection of the State and law.

As noted in the Enterprise Law 2020, there are 5 main types of enterprises: Joint stock companies, one-member limited liability companies, limited liability companies with two or more members, partnerships, private enterprises. For each type of enterprise, the law has different regulations and the dossier and procedures for establishing each type are also different.

2. Business establishment documents

2.1. Sole proprietorship

1. An application for enterprise registration.

2. Copies of legal papers of individuals, for owners of private enterprises.

2.2. Partnership

1. Application for business registration.

2. Company's charter.

3. List of members.

4. Copies of legal papers of individuals for members.

5. A copy of the Investment Registration Certificate for foreign investors in accordance with the Law on Investment.

2.3. Joint stock company

The Enterprise Law 2020 and the guiding Decree stipulate that a dossier for registration of a joint stock company includes:

1. An application for business registration.

2. Company's charter.

3. List of founding shareholders; List of shareholders who are foreign investors.

4. Copies of the following documents:

• Legal papers of individuals, for founding shareholders and shareholders being foreign investors being individuals or legal representatives;

• Legal documents of the organization, for shareholders being organizations and documents appointing an authorized representative; legal papers of individuals, for authorized representatives of founding shareholders and shareholders being foreign investors being organizations. For shareholders being foreign organizations, copies of legal papers of the organization must be consular legalized;

• Investment registration certificate for foreign investors in accordance with the Law on Investment.

2.4. Limited Liability Company

A limited liability company in general, when registering for business establishment, needs to prepare the following documents:

1. Application for business registration.

2. Company's charter.

3. List of members.

4. Copies of the following documents:

- Legal papers of individuals, for members being individuals or legal representatives;

- Legal papers of the organization, for members being organizations and documents appointing an authorized representative; legal papers of individuals, for authorized representatives of members being organizations.

- For members being foreign organizations, copies of legal papers of the organization must be consular legalized;

- Investment registration certificate for foreign investors in accordance with the Law on Investment.