Mobile menu icon
BUSINESS LICENSE IN VIETNAM
KEY COMPLIANCE PROCEDURES FOR BUSINESS LICENSE MANAGEMENT

BUSINESS LICENSE IN VIETNAM
KEY COMPLIANCE PROCEDURES FOR BUSINESS LICENSE MANAGEMENT

VIVA BUSINESS CONSULTING là công ty tư vấn doanh nghiệp được tín nhiệm bởi hằng ngàn khách hàng danh tiếng từ năm 2006. VIVA cung cấp nền tảng quản lý toàn diện và nguồn lực thực thi theo cách kết hợp đồng thời của: Luật pháp và thủ tục hành chính trong kinh doanh – Quản lý thuế và kế toán – Quản trị quan hệ lao động – Quản trị tài chính doanh nghiệp – Quản trị và kiểm soát nội bộ. Năng lực của chúng tôi giúp khách hàng lường trước các rủi ro, tối ưu chi phí, kiến tạo lợi thế kinh doanh.

VIVA is a business consulting company, specializes in business compliance procedures according to local business laws and regulations since 2006. VIVA has been continuously trusted by thousands of well-known clients since 2006. We are creating added value for clients by offering one-stop business platform with exclusive and tailored-made services related to market entry and mandatory business compliances. We keep our client’s good standing in lawful and optimal manners whenever they are working and doing business in Vietnam.

Business license of company in Vietnam

Nowadays, applying for a business license has become more simple. Many investors and business owners seem to underestimate these basic procedures in business operation. In fact, there are many legal issues involved in granting a business license, which requires enterprises to spend more time to solve.

This article provides critical key notes to help businesses clarify what are the common types of business license, licensing procedures and common risks.

COMMON TYPES OF BUSINESS LICENSE

  • Enterprise registration certificates.
  • Certificate of investment registration.
  • Branch, representative office, business location and warehouse registration certificates
  • Operating license for specific areas.

RELEVANT RECORDS WHICH SHOULD BE PROPERLY MANAGED AND CONTROLLED:

  • Personal profiles of investors and capital contributors; code of governance issued to shareholders
  • Application for incorporation
  • Post-licensed compliance records and procedures
  • Records of revisions and updated changes

COMMON RISKS FOR CASES OF MISCONDUCT REGARDING BUSINESS LICENSE

  • Inappropriate business name: Failure to follow provisions of the laws; the name being too long, difficult to pronounce and misleading when translated into English or abbreviated; the name aimed to cover all planned business lines.
  • Unrealistic charter capital: False declaration of high charter capital; declared charter capital being lower than such capital provided for the business scale; Failure to declare capital contributions in the form of assets used in operations.
  • Unclear Articles of Incorporation with insufficient procedures: Failure to specify internal management rules; Failure to have members signed and stamped on each page; Failure to archive properly; Failure to make and maintain revisions upon
  • Failure to set up projects or carry out procedures for tax incentives: failure to identify conditions for the grant of tax incentives; Failure to register for and optimize tax incentives; Failure to register tax incentives properly.
  • Failure to apply appropriate business model: Business model not suitable for business scale and business plan; Failure to anticipate the risk of liability, executive management, especially in enterprises with two or more members; separation between ownership and operations.
  • Inappropriate capital structure: Beside declaration and registration of capital in the form of cash, no declaration or registration of capital in the form of assets used in operations is made.
  • Failure to collect and archive legal dossiers as prescribed: Failure to keep incorporation registration dossiers; Failure to keep post-licensed compliance records; Failure to keep other internal records, especially the code of internal governance issued to shareholders/owners.
  • Failure to keep updated with current regulations: The new Law on Investment and Law on Enterprises of 2014 provide a number of new regulations, requiring enterprises, especially foreign direct investment (FDI) enterprises, to apply for amendment of their investment licenses and for new investment certificates following such new regulations on business registration, etc.
  • Other compliance procedures:
    • Failure to register business and tax information;
    • Failure to display signboards at the licensed location;
    • Failure to carry out procedures for printing and issuing invoices as prescribed;
    • Failure to carry out procedures for announcement of capital contribution upon approval or changes;
    • Failure to carry out procedures for transfer of ownership over assets contributed as capital;
    • Failure to compile capital contribution dossiers;
    • Failure to organize an archive system of enterprise information as prescribed;
    • Failure to apply for permits on establishment of branches, offices or warehouses;
    • Failure to register additional business lines;
    • Failure to update upon changes related to licenses, such as changes in capital-contributing members, managerial titles, and other personal information;
    • Failure to inform or carry out procedures for change of address upon moving to a new location;
    • Failure to carry out procedures for tax declaration and payment upon transfer of capital;
    • Failure to carry out legal procedures for notice of suspension;
    • Failure to compile valid dissolution documents business license

VIVA BUSINESS LICENSE SERVICES AND HOW IT SERVES

  • Direct consultation via phone, mobile phone, email on related issues.
  • Providing package services customized to each client’s scope and requirements of services according to each job. The package services include full review of all compliance of granting business license and risk remediation dossiers, completion of documentation system, implementation to meet arising requirements, application of new regulations towards optimal benefits.

ABOUT VIVA BUSINESS CONSULTING

VIVA is the local expertise for local business compliance procedures, has been trusted by thousands of foreign investors, multinational companies from Europe, Japan, Singapore, India, Korea, USA… for the required business compliance procedures by local laws and regulations since 2006.

Thanks for consistent of practice expertise in Business laws - Employment relations – Tax and accounting – Corporate finance – Corporate services,  VIVA has been successfully providing service for thousands of leading companies in such industries: Garment, energy, pharma, advertising, agricultural…

VIVA keeps its signature by offering one-stop business platform with regard to market entry and the mandatory business compliances. We ensure for our client’s good standing, in lawful and optimal manners whenever they are working and doing business in Vietnam.

 

VIVA not only manage business required procedures by laws but firstly places client’s compliance and good standing, in the optimal methods when offering any solution, and integrated with our intensive resources that allow us to prevent most of the risks in advance, create more benefits, advantages and business inspiration for entrepreneurs.

The insights and consistent backgrounds in Business Laws – Accounting and Corporate Finance – Tax Management – Labor Relations and Payroll – Serectarial and consistent with our exclusive standard operation processes, consisting of consultation – implementation – pratice operation help us fully protect client interests as one-stop solution.

YOU WILL RECEIVE

“If you ask any successful businessperson, they will always have had a great mentor at some point along the road.”

 

 

Read more:

Published date:

Share this post

TABLE OF CONTENT
Haven't found what you're looking for?
SEARCH
HotlineZaloWhatsappEmailGoogle maps
DANH MỤC DỊCH VỤ TẠI VIVA
Search