Sailing into Success: A Guide to Setting Up a Business in Hai Phong

In the bustling city of Hai Phong, Vietnam, establishing a business is a promising venture. However, to embark on this journey successfully, it's crucial to understand the legal framework and follow the necessary steps for a seamless business setup. This comprehensive guide will walk you through the legal requirements, the establishment process, and the invaluable services provided by ACC to ensure your business thrives in Hai Phong. So, what doess dissolving a limited company mean? ACC Group will address your question.

1. Legal Framework

The legal framework for business establishment in Hai Phong, Vietnam includes several key regulations:

1. Enterprise Law 2020: This law governs various aspects of business establishment and operation in Vietnam.
   
   
2. Decree 01/2021/NĐ-CP on Business Registration: This decree provides specific guidance on business registration procedures.
   
   
3. Circular 01/2021/TT-BKHĐT: Issued by the Ministry of Planning and Investment, this circular provides detailed instructions on business registration.

2. Steps to Establish a Company in Hai Phong

Here are the steps to establish a company in Hai Phong:

Step 1: Prepare Company Establishment Documents and Obtain the Business Registration Certificate

• Completion Time: 3-4 working days

Step 2: Create the Company's Official Seal

• Completion Time: 1 working day

With the assistance of ACC, a company can typically complete these procedures in 4-6 days.

3. Important Notes for Business Establishment in Hai Phong

1. Company Name: The company name must adhere to specific regulations, consisting of two parts: the business type and the unique name of the business. The business type can include various forms such as a limited liability company, joint-stock company, partnership, or sole proprietorship. The unique name must use Vietnamese characters, Latin letters (F, J, Z, W), numbers, and symbols. It's essential to ensure that the proposed company name is not already registered nationally and does not violate naming conventions related to historical, cultural, or government terms.
   
   
2. Choice of Business Entity: It is advisable to choose between a limited liability company or a joint-stock company when registering a business in Vietnam. Both offer limited liability protection, with a limited liability company allowing for single-member ownership, while a joint-stock company requires a minimum of three founding shareholders. These business entities have structured organizations designed to minimize operational risks and maximize profitability.
   
   
3. Registered Office Address: The company should provide the address of its registered office, which must not be a collective house or apartment. If using a private residence, the company must provide proof of land-use rights. When renting an office, valid documents verifying legal use rights are required.
   
   
4. Charter Capital: The charter capital depends on the nature of the business and may be subject to specific minimum capital requirements for certain industries. The amount of charter capital also affects the company's annual business license tax, with varying rates for different capital levels.
   
   
5. Shareholders/Members and Legal Representatives: Full information about shareholders/members and the legal representative(s) of the company is required, including personal identification documents.
   
   
6. E-invoicing: In 2022, newly established companies are required to use electronic invoices.
   
   

4. Result of ACC's Company Establishment Service in Hai Phong

When utilizing ACC's company establishment service in Hai Phong, you can expect to receive the following documents and support:

• Business Registration Certificate.
• Official company seal.
• Internal company documents.
• Company charter.
• Post-establishment legal procedure consultation for your company, free of charge.

5. Post-Establishment Services by ACC

After company establishment, ACC can assist with the following services:

• Opening a bank account.
• Registering digital signatures.
• Issuing electronic invoices.
• Tax declaration and payment.
• Providing tax and accounting services at reasonable costs for businesses.

ACC offers comprehensive support to companies in Hai Phong, helping them navigate the complex legal requirements and facilitating a smooth and legally compliant establishment process.

6. Q&A

1. What are the key legal requirements for setting up a business in Hai Phong, Vietnam?

Setting up a business in Hai Phong, Vietnam involves several legal requirements:

• Enterprise Law 2020: This law governs various aspects of business establishment and operation in Vietnam.
  
  
• Decree 01/2021/NĐ-CP on Business Registration: This decree provides specific guidance on business registration procedures.
  
  
• Circular 01/2021/TT-BKHĐT: Issued by the Ministry of Planning and Investment, this circular provides detailed instructions on business registration.
  
  

2. What are the steps to establish a company in Hai Phong?

The process of establishing a company in Hai Phong typically involves the following steps:

Step 1: Prepare Company Establishment Documents and Obtain the Business Registration Certificate

• Completion Time: 3-4 working days

Step 2: Create the Company's Official Seal

• Completion Time: 1 working day

With the assistance of a service provider like ACC, a company can often complete these procedures in 4-6 days.

3. What are some important considerations when setting up a business in Hai Phong?

When setting up a business in Hai Phong, there are several crucial considerations to keep in mind:

• Company Name: Ensure that the proposed company name adheres to specific regulations and does not violate naming conventions related to historical, cultural, or government terms.
  
  
• Choice of Business Entity: Consider whether a limited liability company or a joint-stock company is more suitable for your business. Both offer limited liability protection but have different ownership structures.
  
  
• Registered Office Address: Provide a valid office address that complies with legal requirements. If using a private residence, proof of land-use rights is necessary.
  
  
• Charter Capital: Determine the appropriate amount of charter capital based on your business's nature and industry requirements.
  
  
• Shareholders/Members and Legal Representatives: Gather complete information about shareholders/members and the legal representative(s) of the company, including personal identification documents.
  
  
• E-invoicing: Be aware that newly established companies are required to use electronic invoices in 2022.
  
  

4. What services can a company expect when utilizing ACC's business establishment service in Hai Phong?

ACC's business establishment service in Hai Phong offers the following benefits:

• Issuance of the Business Registration Certificate.
  
  
• Creation of the official company seal.
  
  
• Preparation of internal company documents.
  
  
• Development of the company charter.
  
  
• Post-establishment legal procedure consultation for the company, provided free of charge.
  
  

Additionally, ACC offers post-establishment services, including:

• Assisting with opening a bank account.
  
  
• Registering digital signatures.
  
  
• Managing electronic invoicing.
  
  
• Handling tax declaration and payment.
  
  
• Providing tax and accounting services at reasonable costs for businesses.
  
  

ACC aims to provide comprehensive support to companies in Hai Phong, helping them navigate the complex legal requirements and ensuring a smooth and legally compliant establishment process.