CONDITIONS FOR ESTABLISHMENT OF COMPANY IN VIETNAM
Do Valued Clients wish to establish a company in Vietnam?
Do Valid Clients not understand the process and conditions to establish a company?
Do Valid Clients not have much time to research the established company procedures?
Do Valid Clients not have much time to submit and follow up the established company application?
Do Valid Clients need to find a service company with the right expertise to deliver the service effectively?
All the above requirements of our Valued Clients will be solved when working with IP LEADER. We are not only a company that provides professional service about Intellectual Property but also about the establishment of domestic and foreign businesses. Therefore, customers will have the most overview of processes as well as Vietnam Law on Enterprise Establishment. IP LEADER would like to your attention the information concerning the following:
1. Conditions on Regulated entities
For the owners being Vietnamese citizens or foreigners residing in Vietnam:
– Enterprises.
– Organizations and individuals relevant to establishment, management, reorganization, dissolution and relevant activities of enterprises.
For foreign traders, who are WTO member countries:
– Establishment of a joint venture company in Vietnam.
– 100% foreign-invested company.
– Enterprise establishes branches and representative offices in Vietnam
2. Conditions on The enterprise’s name
The enterprise’s name must ensure the following factors:
– The type of enterprise includes: Limited liability company, Joint stock company, Partnership, Sole proprietorship.
– The proper name shall consist of letters in the Vietnamese alphabet
– The enterprise’s name shall be displayed at the headquarters, branches, representative offices and business locations of the enterprise and printed or written on transaction documents, records and printed materials published by the enterprise.
Prohibited acts of naming enterprises:
– Use of any name that is identical or confusingly similar to another enterprise’s name that is registered
– Use of words or symbols that are against the country’s history, culture, ethical values and good traditions.
– Use of the name of a state authority, the People’s military unit, political organization, socio-political organization, socio-political-professional organization, social organization, social-professional organization as part or all of an enterprise’s name, unless it is accepted by that authority, unit or organization.
3. Conditions on The company’s business lines
Enterprise has the right to freely engage in any business line that is not banned by law and registration business lines with authorities. The enterprise must not engage in banned business lines; engage in restricted business lines without fulfillment of conditions or failure to maintain fulfillment of conditions during operation in restricted business lines.
4. Conditions on the place for business registration
The enterprise’s headquarters address means the mailing address of enterprise in the territory of Vietnam, whose address is determined including: house number, sub-alley, lane, alley, quarter, street or village, sub-hamlet, hamlet, commune, ward, townlet, district, town, city, province, phone number, fax number, email address (if any).
5. Conditions on charter capital and legal capital
Charter capital means the total value of assets that have been contributed or promised by the members/partners/owners when the company is established. Legal capital means the minimum amount of capital required to establish a company as prescribed by law for each business line. With the business lines that are not required, the capital of the business is decided by the business owner when applying for enterprise registration . However, businesses should note: The members shall contribute sufficient and correct assets as promised when applying for enterprise registration within 90 days from the issuance date of the Certificate of Enterprise Registration. The time needed to transport or import the contributed assets and for completing ownership transfer procedures will be added to this 90-day period. In case a member fails to contribute or fully contribute capital as promised by the expiration of the period mentioned: The member that has not contributed capital at all is obviously no longer a member of the company; The member that has not fully contributed capital will have the rights that are proportional to the contributed capital; The right to contribute the missing capital will be sold under a resolution or decision of the Board of Member
