Assistance in establishment ROs service in Vietnam
Assistance in establishment ROs services support individuals and organizations in implementing the business establishment process quickly, effectively and in compliance with legal regulations. S4B Vietnam’s assistance compliance management of ROs provides a comprehensive solution, helping to solve complex problems related to administrative procedures such as submitting documents, applying for business licenses, tax registration, seal engraving, legal documents and other requirements.
1. Some new points when registering to establish a business today
1.1. Remove the regulation on notification of company seal samples before use
Based on Article 43 of the Law on Enterprises No. 59/2020/QH14, an enterprise’s seal can be created at a seal engraving facility or in the form of a digital signature according to the provisions of law on electronic transactions.
Decisions on the type of seal, quantity, form and content of the seal of the enterprise, branches, representative offices and other units of the enterprise are all decided by the enterprise itself. The management and storage of seals is carried out in accordance with the provisions of the company charter or regulations issued by the enterprise, branch, representative office or other unit of the enterprise with the seal.
Enterprises can use seals in transactions according to the provisions of law without having to notify the seal sample to state agencies after receiving the business registration certificate.
Establishment of a representative office of a foreign entity in Vietnam
1.2. There are additional subjects prohibited from establishing companies
Point G, Clause 2, Article 17 adds another type of entity that is not allowed to establish and manage an enterprise: Organizations that are commercial legal entities are prohibited from operating and doing business in certain fields according to the regulations of the Ministry. Criminal law.
1.3. Enterprises that have submitted their business establishment documents online do not need to submit paper copies for comparison
Pursuant to Clause 2, Article 26 of Enterprise Law No. 59/2014/QH14, if an enterprise chooses to register a company online through the National Business Registration Portal. After the Department of Planning and Investment approves the establishment documents, businesses will not need to submit paper documents for comparison.
1.4. The company registration form requires you to choose the form of social insurance payment and the type of invoice to use
Since November 2020, the system of business information has updated 2 more important items in the business establishment registration form as follows:
First, the company needs to pay attention to choosing the time to pay social insurance. For businesses operating in normal business lines, the choice of monthly insurance payment must be made in the business registration application.
Second, companies must choose how to use electronic invoices if their headquarters are located in Ho Chi Minh City or Hanoi. According to the plan, from January 2022, the use of electronic invoices will become mandatory nationwide.
Assistance in Amendment of ROs for business coming to Vietnam
2. Answer questions about business establishment services
2.1. Should I establish a joint stock company or a limited liability company?
Choosing between a joint stock company and a limited liability company (LLC) depends on the size and goals of the business. If the business has the goal of equitization and has a large scale of operations, a joint stock company is a suitable choice. On the other hand, if the business has a small scale of operations, few shareholders, little capital, and wants to simplify legal and tax procedures, establishing a limited liability company will be the optimal choice.
2.2. How much capital is needed to establish a company? Does the company have to prove charter capital?
Depending on the operating purpose and financial capacity of the company. You can decide for yourself the amount of charter capital needed to operate, except for industries that require legal capital. According to the Enterprise Law 2020, there is no requirement to prove sufficient capital when registering to establish a company. However, if any problem arises during operation, you will be responsible for the registered capital.
However, when establishing a business company in industries with legal capital or deposit requirements, you should note that the company’s charter capital must meet the minimum legal capital or deposit level according to the law.
2.3. What taxes must be paid Post licensing procedure ROs?
Below are the taxes that must be paid Post licensing procedure ROs:
- Value Added Tax (VAT) 10%: if you issue an invoice;
- Personal income tax: businesses pay on behalf of employees, usually from 10% of income over 11,000,000 VND/month;
- Corporate income tax: usually must pay 20% of total year-end profits;
- Import tax: if importing goods from abroad;
- Special consumption tax: often applied to industries that are not encouraged such as automobiles, wine, beer,…;
- Environmental protection tax: applies to industries with limited use such as plastic bags, herbicides, gasoline, coal, termite control, etc.
2.5. Do you need assistance in establishing a company or business?
Consulting experts at S4B Vietnam will guide customers through the necessary steps to establish a complete and legal business.
- Assistance in establishment ROs
- Post licensing procedure ROs
- Assistance compliance management of ROs
- Assistance in Extension of ROs
- Assistance in Amendment of ROs
- Assistance in Closure procedure of ROs
If you have any questions, please contact us:
S4B Vietnam
- Address: Unit 602A, Tower A, Handi Resco Office Building. 521 Kim Ma Street, BaDinh District, Vietnam
- Tel: + 84 24 3974 4181
- Email: service@s4b.com.vn
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