WHAT IS THE PROCESS OF REGISTERING A COMPANY IN VIETNAM?

I. Conditions for establishing a new company 

It is necessary to note the following conditions: 

- Legal representatives and owner members:  individuals who are full 18 years old or older, have civil act capacity, do not belong to prohibited groups and legal entities with legal capacity, do not fall into prohibited cases under Article 17 of the Enterprise Law 2020. 

- Enterprise headquarters: have a clearly defined address and do not belong to an apartment to live in. 

- Business name: The company name is not identical or confusing with the names of previously established companies (applied nationwide) according to Clause 1 Article 18 of Decree 01/2021 ND-CP, Company names include the type of business and proper name.  

- Determination of charter capital and legal capital. 

- Business lines: Self-decided by enterprises not in the case of business prohibition in Article 6 of the Investment Law 2020 and lines of market access with foreign investors according to Decree 31/2021 ND-CP. 

II. Steps to establish a company in Vietnam 

-Step 1: Prepare and submit the company establishment dossier: Application for business registration according to Circular 01/2021/TT-BKHDT guiding business registration);   

+ The company's charter according to the form of Circular 01/2021/TT-BKHDT;    

+ List of members/shareholders contributing capital, shareholders being foreign investors;   

+ Copies of legal papers of members/capital contributing shareholders/legal representatives;   

+ Investment registration certificate;   

+ Other types of documents for conditional business lines. 

-Step 2: Submit and process the application. Pursuant to Clause 1, Article 26 of the Enterprise Law 2020, the enterprise founder or authorized person shall register an enterprise with the Business Registration Office by the following methods: 

+ Register the enterprise directly at the Business Registration Office;   Business registration via postal service;   

+ Business registration via electronic information network. Pay the business registration fee issued together with Circular No. 47/2019/TT-BTC: VND 50,000 After 03 working days from the date of receipt of the application, if the application is valid, the Business Registration Office will issue an Enterprise Registration Certificate. 

-Step 3: Make a legal entity seal. A dossier for making a seal according to Article 13 of Decree 99/2016/ND-CP should have: 

+ A copy of the Certificate of Business Registration;   

+ Blueprint of the seal pattern. 

Note: When you come to receive the new seal, bring the original Business Registration Certificate. 

-Step 4: Set up a new company. A new company is established and operates after obtaining an Enterprise Registration Certificate and an enterprise seal. 

Above is an article that provides some basic information about the legal regulations of Vietnam, the process of registering a company in Vietnam.

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For more information, please contact:

Hoang Pham (James) / Managing Partner at: hoang.pham@vselawyers.com

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Attention: This legal update is not an advice and should not be treated as such.