Name the Company - How is the business legal and valid in accordance with the Law

- The name of the Company - Enterprise in English is translated from the Vietnamese name of the Company - Enterprise.

- The enterprise's proposed name must not be identical or cause confusion with other enterprises.

- Enterprise names must not violate the prohibition on naming.

Suppose there is a business named as:

ABC TRANSPORT COMPANY LIMITED

- NEW ABC TRANSPORT COMPANY LIMITED(SAI)

- ABC TRANSPORTATION COMPANY LIMITED (SAI)

- ABC TRANSPORTATION CO., LTD (SAI)

- TRANSPORT & ABC(SAI) COMPANY LIMITED

Is the apartment address allowed to locate the company's headquarters? Can the address of the business/company's headquarters be different from the household registration address or ID card? Can the company address be located at a rented house?

Pursuant to Article 42 of the Enterprise Law 2020, Article 6 of the Housing Law 2014
The head office of the enterprise is located in the territory of Vietnam, is the contact address of the enterprise and is determined according to the administrative unit boundaries; include phone number, fax number and email (if any).

The expected address of the enterprise/company's headquarters must be located within the territory of Vietnam, except for apartments intended for residential purposes only

Example of Valid Address:
17th Floor, Vincom Center Building, 72 Le Thanh Ton, Ben Nghe Ward, District 1, Ho Chi Minh City.

CAPITAL

TERM

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When establishing a company, what is the minimum charter capital required?
Pursuant to Regulations, Article 34 of the Enterprise Law 2020
Capital contributed assets are Vietnamese Dong, freely convertible foreign currencies, gold, land use rights, intellectual property rights, technology, technical know-how, and other assets that can be valued in Vietnamese Dong.

Currently there is no mandatory regulation when establishing a business/company to register the minimum charter capital when registering to establish a company/enterprise, so a business should register the minimum amount of charter capital. Reasonable charter capital for assets contributed as capital when establishing a business/company, except in cases where conditional professions require minimum capital contribution registration.

(Note: For individuals contributing capital to establish a company, there is no need to transfer money via bank and there is no agency to check, but the individual must commit to making a full capital contribution within the capital contribution period)

- Domestic postal and delivery business lines: Minimum capital of 2 billion VND.
- Business line, real estate rental as a business project investor: 20 billion VND.
- Minimum travel service business of 100 million or more.

Do you need any degrees or practice certificates to establish a company/business?
Except for professions that are required by law to have a practicing certificate to be allowed to do business, all remaining individuals and organizations have the right to establish a company.

Who has the right to establish a company?

Pursuant to Article 17 of the Enterprise Law 2020
Every organization and individual has the right to establish a company in Vietnam. (Except for some cases such as people under 18 years old, people who are 18 years old but have lost consciousness, civil servants and public employees according to regulations, people being prosecuted for criminal liability, military and police officers people ...)

If Mr. A wants to establish a Law Firm, he is required to have a Lawyer Practicing Certificate and Mr. A is not on the list of not allowed to establish a Business.