Doing Business in Vietnam: Business License
Business license enrollment is an obligatory procedure for individuals and associations to be allowed to conduct their business conditioning. This composition will help you get further information about the process, styles, and procedures for business enrollment; complete the original procedures to be suitable to conduct your business. For those who want to start doing business in Vietnam, this is must-have information for you.
What’s a business license when doing business in Vietnam?
The business license is a type of license granted to enterprises with tentative business lines, this type of paper is generally issued after the Certificate of Business Registration.
still, numerous people still relate to a business instrument as a business license. This composition is named business license but will substantially cover business enrollment instruments.
- Enterprise LawNo. 59/ 2020/ QH14 in 2020;
- Decree 01/ 2021/ ND-CP on enterprise enrollment ;
- Law on Investment 2020;
- Decision 27/ 2018/ QD- Ttg;
- Other legal documents for each specific business line.
Some notes before conducting business enrollment procedures when doing business in Vietnam
Choose the type of business
presently, the Enterprise Law 2020 stipulates the types of enterprises in Vietnam including common stock companies, limited liability companies( 1 member or 2 members or further), hookups, and private enterprises.
Depending on the conditions of the company, the reality established, and the duty capital. that individualities associations choose the type of business consequently. In addition, individualities or homes can choose the form of ménage business to register for the establishment and be responsible with all their means for the business conditioning of the ménage.
Distinguish between a business enrollment instrument and a business license
Concept of business enrollment instrument
According to the vittles of Clause 15, Composition 4 of the Law on Enterprises 2020, “ Certificate of enterprise enrollment is a document or electronic dupe that the business enrollment authority issues to an enterprise recording information on business establishment enrollment . Air”. An instrument of a State agency, establishing a business association or legal reality, and having the power of the business name defended.
Business license conception
A business license means a license granted to an association or existent doing business in a tentative business line when completely meeting the conditions for business enrollment in each specific field or type; typically issued after the business enrollment instrument.
For tentative business lines
presently, business enrollment is relatively simple; still, the procedure will be more complicated for sensitive diligence or may affect social order and public security. thus, in order to effectively manage the state, enterprises need to apply for a business license after having registered for the following tentative diligence
Step 1 do establish a company or register an individual business ménage according to the law of the Enterprise Law 2020.
Step 2 Apply for a business license for tentative diligence.
Pursuant to Article 17 of the Enterprise LawNo. 2020 stipulating the right to establish, contribute capital, purchase shares, purchase contributed capital, and manage enterprises
” first. Organizations and individualities have the right to establish and manage enterprises in Vietnam according to the vittles of this Law, except for the case specified in Clause 2 of this Composition.
Consequently, an association or existent who’s an adult aged 18 times or aged is eligible to apply for a business enrollment instrument( except for the cases banned in Clause 2, Article 17 of the Enterprise Law 2020).
Instructions for online business enrollment for individual business homes when doing business in Vietnam
Step 1: Access the” Online Registration” section on the Online Public Service Portal.
Step 2: Enter the keyword” business ménage enrollment “, also click on the business ménage enrollment procedure.
Step 3: Enter information about business ménage enrollment similar to business proprietor information, name, and business position.
Note: After completing the protestation of business ménage enrollment information, the registrant will have to submit the following documents
- Legal documents( CCCD/ ID/ Passport) of the existence of the proprietor of the business ménage, ménage members registering the business ménage in the case of ménage members registering business homes
- A dupe of the meeting twinkles of ménage members on the establishment of a business ménage in case members of the ménage registers as a business ménage.
- A dupe of the authorization letter of a ménage member for one member to be the proprietor of the ménage business, in case ménage members register a ménage business.
- Power of attorney enclosed with particular legal papers for the person authorized to carry out the business ménage enrollment procedure
Step 4: Submit your operation
The registrant completes and submits the operation, and monitors the processing status of the operation with the lookup law. The time for processing and setting up the dossier is 3 working days from the date of submission.
Instructions for online business enrollment for businesses doing business in Vietnam
Order and procedures for enterprise enrollment via electronic information network using digital autographs
Step 1: The aspirant declares information, downloads the electronic document, authenticates the business enrollment dossier via the electronic information network, and pays the business enrollment figure and figure according to the process on the Portal. public information on business enrollment.
Step 2: After completing the submission of the business enrollment operation, the aspirant will admit damage to the business enrollment operation via the electronic information network.
Step 3: If the operation train is eligible for enterprise enrollment, the Business Registration Office shall issue enterprise enrollment and notify the enterprise of the entitlement of enterprise enrollment. In case the operation isn’t eligible for business enrollment, the Business Registration Office shall shoot a notice via the electronic information network to the enterprise to request the correction and supplement of the dossier.
Order and procedures for enterprise enrollment via electronic information network using business enrollment account
Step 1: The aspirant uses the business enrollment account to declare information, download electronic documents and authenticate the business enrollment documents via an electronic information network and pay enrollment freights and charges. Register your business according to the process on the National Business Registration Portal. In case of authorization to carry out business enrollment procedures via an electronic information network
Step 2: After completing the submission of the application for registration, the applicant will receive a receipt of the business registration application via the electronic information network.
Step 3: The Business Registration Office shall grant an enterprise registration to the enterprise in case the application is eligible and notify the enterprise of the grant of enterprise registration. In case the application is not eligible, the Business Registration Office shall send a notice via the electronic information network to the enterprise to request amendment and supplementation of the dossier.
You can read the previous article here: Visa to Vietnam: How to Apply
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Q: What is the currency in Vietnam?
The currency in Vietnam is the Vietnamese dong (VND). The exchange rate as of February 2023 is around 23,000 VND to 1 USD.
Q: What are the main industries driving Vietnam’s economy?
Vietnam’s economy is driven by several key industries, including manufacturing, agriculture, and services.
Q: What is the current state of the economy in Vietnam?
Vietnam’s economy has been experiencing rapid growth in recent years, with a 7.11% growth rate in 2019 before being impacted by the COVID-19 pandemic in 2020.