Starting a business is an exciting journey, filled with possibilities and opportunities. However, navigating the maze of legal requirements and documentation can be overwhelming. In this guide, we break down the essential steps and requirements to kickstart your entrepreneurial venture successfully. So, what does dissolving a limited company mean? ACC Group will address your question.
I. Requirements to start a business
Conditions for setting up a business are relatively simple:
Must be at least 18 years old. Not prohibited from establishing a business entity. It should be noted that you can establish a business in any province or centrally run city without restrictions on registration of household registration or permanent address.
Except in special cases, the law does not limit the number of companies that an individual can establish. So, if you are ready to start a business, do not hesitate to contact Viet An Law Firm for further support and advice on solutions. Required documents for business registration
The questions our clients often ask about setting up a business involve required documents and information. According to the provisions of the Vietnam Enterprise Law 2020 and Decree No. 01/2021/ND-CP on business registration, the following information and documents must be prepared to apply for a business registration certificate:
A notarized copy of the people's identity card, citizen identification card or valid passport of the founding member, shareholder and legal representative (in case the legal representative is hired and is not a legal representative). shareholders, members of the company). Relevant information about the company's name, address, capital, field of operation, etc. This information will allow ACC to give specific advice and draft the necessary documents on behalf of the client for the business establishment process. The most important documents are copies of identity cards/citizen identification cards/passports of company members, founding shareholders and legal representatives. Documents relating to the company's registered headquarters, such as leases, loan agreements or property rights to premises owned by the company's owners, or documents of legal value equivalent to the right to use land, house or office for lease (These documents must be kept at the company for control purposes during operation and must not be filed during the establishment of the company). Based on the information provided by the client, Viet An Law Firm will advise in detail and fully support all the necessary procedures to establish a company, as well as advise on post-establishment and compliance procedures. conditions for conducting business as prescribed by law. regulations.
II. Business registration documents
The legal basis for the enterprise establishment dossier is the Enterprise Law 2020, guided in Chapter IV of Decree No. 01/2021/ND-CP on business registration procedures for all types of enterprises. Depending on the desired form of company formation (limited liability company (SARL), joint stock company (JSC), etc.), Viet An Law Firm will prepare the corresponding documents accordingly. Typically, the company's incorporation documents include the following documents:
Business registration application. Draft of Company's charter. List of members for a two-member LLC or list of founding shareholders for a joint stock company. Valid copies of identification documents. Power of attorney from the authorized capital representative if the capital contributor is an organization. Other documents in special cases (Viet An Law Firm will guide customers on specific legal requirements). Legal service agreement (Authorization Agreement) to authorize Viet An Law Firm to perform the service of Business Incorporation. Notes on records for members of limited liability companies, shareholders of joint-stock companies
For individuals: Valid ID card or Passport or National identity card. For organizations: Certificate of business registration of the organization, enclosed with personal identification paper certified by the authorized representative appointed by the organization. Note for agents and government employees who intend to start a business
Civil servants and public employees are only allowed to contribute capital to a joint-stock company through the transfer of ownership rights as in the case of investing in securities on the stock exchange. Therefore, state officials and civil servants must not be listed as members of a limited liability company or included in the necessary documents to establish a joint-stock company.
III. Procedures for registering a new company
To successfully establish a company and ensure compliance with legal requirements, company establishment procedures need to be carried out according to the following steps:
Step 1: Prepare business registration documents
Viet An's lawyers receive full information and advise on issues related to the company name, registered office, intended business lines, member information, founding shareholders, and registered capital of the company. company and information about the company's legal representative (see above). ). ).
Immediately after that, we will provide legal advice and prepare company establishment documents based on the information provided by the customer. This process will be completed within one working day from the date of receiving the customer's complete information.
Step 2: Submit company registration application and pay company information disclosure fee
After completing the preparation of documents in the above step, Viet An Law will proceed to submit the application for a Business Registration Certificate via the National Business Registration Portal. Unlike before, the procedure for paying the company information disclosure fee will be carried out at the same time as submitting the company establishment documents. Therefore, after being granted a business registration certificate, business information will also be published on the national business registration portal. Completion time: 3 working days.
Step 3: Issuing a business registration certificate
After 03 working days, the business registration agency will issue a business registration certificate and immediately send it to the customer via the express delivery service of Law Viet An. However, as Certificates are currently issued exclusively by postal services, customers may experience a slight delay in receiving them due to the delivery process.
After complete registration
Step 4: Engrave company seal (round seal)
After receiving the company registration certificate and the company's tax code, Viet An will engrave the company's seal. Implementation time: 1 day. According to the provisions of the Companies Act 2020, effective January 1, 2021, companies are responsible for engraving their own seals and are responsible for the use of the company's seal. Therefore, companies no longer have to publish notices related to seal samples as before. This is a significant change introduced by the Companies Act 2020, but it also raises concerns about self-regulating and using the company seal without oversight from regulators. related to state companies.
Step 5: Complete service provision and advise on post-establishment procedures for customers' businesses
After completing the procedures to apply for a business registration certificate for the company, Viet An Law Firm provides service results for customers including business registration certificate, company seal and announcement. publicize business registration information. In addition, we also advise on necessary procedures and considerations after establishing a company.
Step 6: Support and advise on legal issues related to business activities and tax reports at the request of customers
The results of business establishment services are provided to clients, lawyers, tax consultants of Viet An Law Firm, who advise clients on tax (tax declaration) and related issues. Other concerns about the work to be done after being granted the business registration certificate, including: signs, tax, accounting, labor and business intellectual property. Viet An Law Firm provides services related to tax accounting, tax reporting, financial consulting, branding, contract drafting and commercial dispute resolution.
Step 7: Apply for a business license
This step only applies to business sectors that require specific conditions and authorizations after creation, such as transportation, travel, catering, rental, education, healthcare, construction, moving express, postal service, etc.
For more information, please refer to the article: What businesses should do after establishing Vietnamese law in Vietnam.
The above steps describe the most necessary procedures to set up a business. Please contact ACC for specific advice and the best company establishment service fees.
IV. Q&A
1. What are the initial steps in the procedure for establishing a new company?
Answer: The initial steps in establishing a new company typically include:
- Conducting market research to validate your business idea.
- Developing a business plan outlining your goals, target market, and financial projections.
- Choosing a suitable legal structure for your company, such as a sole proprietorship, LLC, corporation, or partnership.
- Registering your business name and obtaining any required licenses or permits.
2. How can one secure funding for a new company during the establishment process?
Answer: Securing funding for a new company can be achieved through various means, including:
- Personal savings or investments from founders.
- Loans or lines of credit from financial institutions.
- Venture capital or angel investors.
- Crowdfunding campaigns.
- Small business grants or government programs.
3. What role does legal compliance play in the procedure for establishing a new company?
Answer: Legal compliance is essential to ensure that your new company operates within the boundaries of the law. It involves:
- Registering the business with the appropriate government authorities.
- Complying with tax regulations and obtaining necessary tax identification numbers.
- Adhering to industry-specific regulations and licensing requirements.
- Drafting and signing contracts, agreements, and terms of service that protect your company's interests.
4. How can a new company establish an effective online presence as part of the establishment process?
Answer: Establishing an online presence for a new company involves several steps:
- Creating a professional website with relevant information about your products or services.
- Setting up social media profiles on platforms that align with your target audience.
- Developing a content marketing strategy to engage with potential customers through blog posts, videos, or social media content.
- Utilizing online advertising and search engine optimization (SEO) techniques to drive traffic to your website.
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