Building Success Solo: A Guide to Establishing a Single-Member Limited Company Profile

Starting a company involves navigating a labyrinth of legalities and administrative tasks. This guide demystifies the process, focusing on establishing a single-member limited liability company in Vietnam. So, what doess dissolving a limited company mean? ACC Group will address your question.

2. DOCUMENTATION OF A 1-MEMBER COMPANY IN TASCO INCLUDES:

Entrepreneurs only need to provide information about the company's name, address, capital, field of operation and identity card of the company. Entrepreneurs will receive:

👉 Get a business license after only 3 days.
👉 Free of state and facility disclosure fee.
👉 Release the round seal and notify the seal sample to the Department of Planning and Investment. 👉 Free license tax declaration, electronic tax registration, electronic tax payment registration

👉 Free license fee for the first year for newly established companies

👉Free consultation on the following procedures: opening a bank account, issuing invoices,...
👉 Free voucher worth USD 500,000 when buying digital signature, e-invoice or using accounting services for 1 year.

3. CHARTER CAPITAL FOR ESTABLISHMENT OF MEMBER LIMITED COMPANY.

🍀 According to the Enterprise Law 2014, there is no specific regulation on fixed capital to establish a one-member limited liability company, except for some special fields such as real estate, security services, banking. , etc. ... The State has its own regulations on legal capital.
✨ According to the provisions of Article 74 of the Law on Enterprises, the owner must contribute in full and the right type of assets as committed when registering the establishment of a commercial establishment within 90 days from the date of issuance of the registration certificate. business.
✨ The owner is responsible for the company's debts and other property obligations to the extent of the company's share capital.
✨ One member limited liability company after 2 years of operation has the right to reduce share capital.ents required to establish a company

4. Q&A

Certainly, here are four questions related to the profile of establishing a single-member limited company, along with their answers:

1. What is a single-member limited company, and how does it differ from other business structures?

• Answer: A single-member limited company is a type of legal business entity where a single individual or entity owns and manages the company. It offers limited liability protection to the owner, separating personal assets from business liabilities. Unlike a sole proprietorship, it's a distinct legal entity that can enter into contracts and own assets.

2. What are the key requirements for establishing a single-member limited company?

• Answer: Key requirements typically include:
  • Choosing a unique and available business name.
  • Filing articles of organization (or similar documents) with the relevant government authority.
  • Specifying the owner's details and initial capital contribution.
  • Appointing a registered agent, if required by local regulations.

3. How is a single-member limited company taxed, and what are the reporting obligations?

• Answer: In many jurisdictions, single-member limited companies are taxed as pass-through entities, meaning profits and losses pass through to the owner's personal tax return. Reporting obligations include filing annual reports, paying any applicable state or federal taxes, and maintaining proper financial records.

4. What advantages does a single-member limited company offer to its owner?

• Answer: Some advantages include:
  • Limited liability protection, which shields personal assets from business debts and liabilities.
  • Simplicity in management, as there's only one owner who makes decisions.
  • Potential tax benefits, as profits can be taxed at the individual's tax rate.
  • Enhanced credibility when dealing with clients, customers, and partners due to the formal business structure.

A single-member limited company provides a balance of personal liability protection and operational simplicity, making it an attractive option for entrepreneurs and small business owners. However, it's crucial to understand the specific regulations and requirements in your jurisdiction when establishing such a company.