LEGAL ADVICE FOR BUSINESS START-UP IN VIETNAM

 

Business is one of the ways to get rich quick. But what kind of business? How to do business? Individual business or establishment of company? What type of company? How much capital contribution? Business activities are limited? ... It has always been the wonder of the initial start-up business.

The first legal procedures to start a business, you have to choose and decide the following issues:

  1. Type, scope of business: you have to decide business by type of individual business individual or establishment of a company. If the establishment of the company, you have to choose one of the following types of businesses: private enterprise, One member Limited liabilities company, two-members limited liabilities company, joint stock company.

  2. Company name: you should look up a business name to avoid duplicate registration of business names registered before filing for registration of business establishment. The business name included the full Vietnamese name, the English name and abbreviation.

  3. Headquarter of the enterprise: you must register the complete address information based on where the enterprise is expected to operate.

  4. Business lines: you need to consider whether your business is among banned business sectors, investment, conditional business line with legal capital, business line required a practicing certificate ... And especially businesses are allowed for foreign investors doing business in Vietnam.

  5. Chartered capital: you need to declare how much is the registered capital for enterprises? This depends on the scope of businesses of each enterprise that registration of appropriate capital.

  6. List of members of the Company: list how many members included in the company, the rate of contributions of each member, the time of contribution, what kind of contribution? 

  7. The legal representative of the company: you have to choose and register the legal representative of the company. Legal representative of the company may be the owner of the Company, members of the company, shareholders, or other persons may be hired by the company to be the legal representative.

Enterprise Registration Certificate is the first legal procedure for birth of Business and starts business operation. Therefore, Enterprises should fully understand the information, regulations of law on the registration.

I. For private enterprises:

- Request for business registration in the prescribed form;

- A valid copy of one of the personal identification papers of the owner of private enterprise;

- Documents certifying the legal capital of the agencies and organizations that have jurisdiction over the business lines of the enterprise business which under the law must have legal capital;

- A valid copy of the practicing certificate of the Director (General Director) and other individuals for private enterprise upon business lines as stipulated by law, must have a practicing certificate.

II. For a limited liability company with two members or more, joint stock companies and partnerships:

  • Request for business registration in the form

  • The draft of company charter 

  • List of members of a limited liability company with two members or more and partnerships, the list of founding shareholders of Shareholding Company with a valid copies of personal identification papers for founders or founding shareholder is an individual; copy of the decision of establishment, Certificate of business registration or other equivalent document, Charter or other equivalent documents.

  • Documents certifying the legal capital of the agencies and organizations that have jurisdiction over the business lines of the company as stipulated by law, must have legal capital

  • A valid copy of the practicing certificate of the partnership members, the Director (General Director) and other individuals.

III. For a one member limited liability company:

  • Request for business registration in the form

  • The draft of company charter company full signature of the company owner, legal representative of the company

  • A valid copy of one of the personal papers of the company owner as individuals or decision on establishment, Certificate of business registration or other equivalent document

  • List of authorized representatives together with personal identification papers

  • The written authorization of the owner for the authorized person for the case the company owner is an organization

  • Documents certifying the legal capital of the agencies and organizations that have jurisdiction over the business lines of the company as stipulated by law, must have legal capital

  • A valid copy of the practicing certificate of the director (CEO) and other individuals, for companies dealing in business lines which under the law must have a practicing certificate.

IV. Procedure for issuance of business registration certificate:

Step 1: Submit dossier as specified in the business registration office of the province where the headquarter of the enterprise is located;

Step 2: Get a receipt for the receipt of the dossier; If the dossier is invalid, the business registration office must notify the contents to be amended and supplemented in writing for the establishment of the enterprise within 10 days from the date of receipt of the application;

Step 3: Within 5 days from the date of receipt of a valid application, the provincial business registration office issues the business registration certificate.

The above content are some basic legal content to establish a Company and start-up business in Vietnam.

LVT Lawyers with a team of lawyers with many years of experience legal advice on the establishment of foreign enterprises in Vietnam. Along with the enthusiasm and dedicated work, we assure we always put the interests of clients on the top to fit the motto "Our services, your success". LVT Lawyers provide legal advisory services on the establishment of foreign enterprises in Vietnam as follows:

  • Consulting on the procedures, application for establishment of company: type of company, business name, founders, business, charter capital, the company model;

  • Drafting application documents for establishment of company;

  • Getting the enterprises registration certificate of the company;

  • Registration of seal;

  • Announcement of seals specimen;

  • Consulting on procedures, drafting documents and making registration of the tax declaration;

  • Consulting on procedures, drafting documents and making registration of the declaration of labor, social insurance, medical insurance;

  • Consultancy and drafting documents related to labor, such as labor regulations, labor contracts, wage scales and payroll, standard conditions of labor positions in the company ...

  • Consulting on tax and other legal matters arising in the course of business operations.

In addition, LVT Lawyers supports for the newly established enterprise the forms and related documents in the course of the establishment and operation of the enterprise.