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PROCEDURES FOR SETTING UP THE MOST DETAILED ENTERPRISE IN 2020

Before setting up a business, many people were confused about where to start and what procedures to do? So, let us guide you, to establish a business you need to carefully prepare the following basics:

1. Select the company name you want

To establish a one-member limited liability company you need to do the following: Choosing a business name is the first step in the business establishment procedure. The name must ensure that there are 2 elements: the type of company and the first name you set. Business names must not be duplicated with any previously registered businesses nationwide.

When the transaction name is an English name, it must be translated from the Vietnamese name of the company. The abbreviated name must be taken from the words of the Vietnamese name and the English name.

You can look up information at the National Business Registration Portal which is: dangkykinhdoanh.gov.vn.

2. Determine the type of company you think is best suited

Depending on the business line, you should choose the right type of business because each type of business has its own advantages and disadvantages. Currently, the State recognized the following types of companies:

  • 1 Member Limited Liability Company
  • 2 Member Limited Liability Company
  • Joint Stock Company
  • Private Enterprise
  • Partnerships
3. Select the address to set up your headquarters

When choosing an address to establish a company, you should pay attention to the following provisions of law:

The head office of the company must not be condominiums or collective houses, unless it proves that the purpose of use is for proper business purposes in accordance with the law on housing in 2014.

The head office of the company must be located in the territory of Vietnam, the address is determined in detail in accordance with the provisions of the Law on Enterprises 2014 including the number of houses- roads or villages, villages, wards, towns – districts, towns or cities of provinces- provinces and centrally run cities.

4. Defining business sectors

You should apply the appropriate industry code and trade list to cover the most in the process of the company's operation to avoid the case that the business has to supplement the industry after the establishment and operation.

5. Determination of charter capital

Charter capital should be suitable for the business line and business objectives of the company in the future in order to minimize the level of responsibility of the business owner, the appropriate level of card tax, ..

6. Identify the person representing the company by law

It is necessary to select a legal representative in accordance with the type of business of the company.

7. Submitting the application for company establishment registration, so the state agency

First you prepare the application including the required documents as follows:

  • An application form for enterprise registration.
  • Draft company charter.
  • List of founding shareholders/members when establishing a company.

For individual shareholders, you need to prepare your ID card or citizen's IDENTITY card (a certified copy of which does not exceed 3 months).

For members being organizations, you need to prepare a certified copy of the establishment decision, the enterprise registration certificate or other equivalent documents of the member organization, the authorization document, the people's identification card or passport to authentic the legal personal of the authorized representative (the certified copy does not exceed 3 months).

For members being foreign organizations, a copy of the enterprise registration certificate must be consularly legalized and notified by the agency where such organization has registered for no more than three months.

  • Documents of authentication.
  • Written capital confirmation.
  • Practice certificates.

Then submit the application at the provincial business registration office or department of investment. Within 03-05 days, the enterprise registration certificate will be issued.

At this time, the company has begun to operate and can fully perform its business functions.

Note: For conditional business sectors, after being granted the Enterprise Registration Certificate, the company contactes the specialized management agency for guidance or apply for other child licenses.

8. Engraving seals for the company

After having a certificate of registration of establishment of the company, the seal and notification of the company seal form will be carried out.

9. Conducting tax declaration

The company must submit and declare the card tax no later than the last day of the month of business operation if the company has come into operation.

From the date of being granted the business registration certificate if the company is newly established but does not have any production and business activities, it must declare the license fee within 30 days,

Because the tax declaration and payment deadline of the tax administration is not agreed, it is best for your company to declare the card tax and then pay the tax as soon as possible.

10. Buy a digital signature
11. Hanging the sign at the company's headquarters

After being granted the Enterprise Registration Certificate, the sign must be hung at the address where the company's head office is located.

Above is the details of the procedures for establishing a business that you should know. For more business-related things, please refer to