What conditions are needed to establish a company?

To establish a company, you need to ensure the following conditions are met:

• Legal representative and owner: At least 18 years old, with ID card or citizen identification card or household The passport is still valid and does not belong to the group of subjects prohibited from establishing a company.
• Company address: has a defined address and is not located in an apartment building
• Company name: The company name must not be identical or confusing with the Name of previously established companies (applicable nationwide).
• Charter capital: Determine the charter capital for business registration. Charter capital is the amount of capital contributed or committed to be contributed by owners, members, shareholders in full within a certain period of time (not exceeding 90 days from the date of issuance of the Business Registration Certificate) and is recorded in Charter of the company.
• Determine business lines: The line of business you want to register must be allowed by law as well as the business must meet the requirements. conditions of that profession (if any).
• Determine the type of company: Business owners need to consider choosing the appropriate type of organization based on the criteria on tax responsibilities, legal responsibilities, transferability, additions, replacements and enterprise scale to effectively meet the business operations of the enterprise.

What should you keep in mind when establishing a new company in 2024 - 2025?

1. Business

When businesses want to establish new businesses, they need to pay special attention to their business lines. Some business lines require special conditions such as practice licenses, food safety and hygiene certificates, legal capital...

Industry lookup business here.

2. Initial tax procedures

Many entrepreneurs mistakenly believe that just completing the procedures for applying for a business registration certificate is enough to complete the process of establishing a company. In fact, after the enterprise completes the above procedures, the enterprise needs to carry out the initial tax procedures

3. Check registered information on the national business portal

After completing business registration procedures, businesses need to check the registered information on the National Business Portal https://dangkylanhdoanh.gov.vn/ and compare it with the information on the license to avoid errors.

4. Submit electronic business registration application

In recent times, the Vietnamese government has introduced many innovative solutions in administrative procedures. One of the outstanding improvements is the submission of electronic business registration applications through the national business information portal (dangkylanhdoanh.gov.vn)

General procedures to establish a new company (since March 8, 2024)

Businesses need to pay attention to new changes: A company/business establishment procedure for most Types of companies/enterprises according to enterprise law from the present time March 2024 (based on the Enterprise Law 2020) (private enterprise, limited liability company, joint stock company, limited liability company 1 membership) full includes 4 stages as follows:

Phase 1: Prepare all necessary information to prepare business establishment documents.

Before starting to prepare documents to establish a new company, the business owner and members need to sit down together to discuss. money and fully identify information related to the establishment of the company.

1. Choose the type of business

The type of business is the first important factor that you need to consider and master. Business owners need to clearly understand the characteristics of each type of business to be able to identify and choose the type of business that best suits the company's development orientation. Main factors that business owners need to consider to choose the appropriate type of organization: taxes, legal liability, transferability, supplementation, replacement, business scale to attract investors other.

Popular types of businesses in Vietnam include:Private enterprises, Partnerships, Single-member LLCs, Companies LLC (2 or more members), Joint Stock Company.
=> See details characteristics of types of companies/businesses