Things to Do After Establishing a Company

What are the procedures to do after establishing a company? That is, making a seal, hanging a company signboard, declaring initial taxes, etc. How are these regulations specifically implement? The following article will fully present the things to do after establishing a company with the order of steps to complete by regulations.

Announcing business registration contents after establishing a company

According to regulations, enterprises must announce changes to business registration contents on the national business registration information portal. Within 30 days from the date of establishment or registration. If the contents are not announced, the enterprise will be subject to administrative sanctions in the field of planning and investment.

Engraving seals and notifying seal samples

At first, Enterprises contact the Business Registration Office of the Province/City directly under the Central Government to engrave seals and register seal samples. Enterprises are only allow to use the seal after publishing the seal sample on the national registration information portal.

Note: According to the latest Law, enterprises can decide on the form and number of seals. That is, enterprises can carve many company seals and decide on the form of the seal.

Contact the tax authority to submit the declaration, declare initial tax, pay tax after establishing a company

Generally, No later than the last day of the month when the business registration certificate (BCC) or investment certificate is issue. Enterprises must contact the tax authority to register to submit the business license tax declaration and carry out the initial tax declaration procedures. Avoid being fine for not completing the procedures.

Then, it is necessary to carry out the procedures to pay taxes according to regulations. Enterprises need to know about the types of taxes to be paid.

Read more: Procedures for Issuing Business Visa for Foreigners

Apply for a business eligibility certificate after establishing a company (for conditional business lines)

Also, For business lines that are require by law to have a business license or a certificate of eligibility to do business. Commonly refer to as a sub-license, enterprises must apply for a license and can only operate after being grant a license by a competent authority.

Make capital contributions as committed

Depending on the type of enterprise, enterprises make capital contributions as follows:

Firstly, For LLCs: Owners or members must fully and timely contribute the commit capital. Within 90 days from the date of being grant the business registration certificate.

Secondly, For joint stock companies: Founding shareholders are oblige to fully pay for the shares they commit to purchase. Within 90 days from the date the enterprise is granted the business registration certificate.

Establishing a member registration book/shareholder registration book

Immediately after being grant a business registration certificate. Companies are responsible for establishing a member registration book (for LLCs with two or more members). A shareholder registration book (for joint stock companies) according to the provisions of the Enterprise Law.

Financial reporting regime

Lastly, Enterprises must implement the monthly/quarterly/annual reporting regime periodically according to the provisions of the Tax Law.

Within ninety days from the end of the fiscal year. The annual financial report of the enterprise must be sent to the tax authority according to regulations

Read more: Change of Business Location Address for Enterprises

Changing the content of business registration

When there is a change or addition to the business registration content. Especially, The enterprise is responsible for completing the procedures to change the business license within 10 days from the date of the change according to the provisions of the law.

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In conclusion, the above are the things to do after establishing a company to make it easier for you to do business in Vietnam.

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