LATEST PROCEDURES FOR
ESTABLISHMENT OF PRIVATE ENTERPRISE
Figure 1. Thinh Tri Law - Advice on the latest private enterprise registration procedures.
- A sole proprietorship is a business model owned by an individual, that individual has unlimited liability for all debts and financial obligations of the business. What is the procedure for registering a private enterprise? Let's find out with Thinh Tri Law in the following article.
OUTLINES
1. Conditions for establishing a private enterprise.
2. Dossier of establishment of a private enterprise.
3. Order and procedures for setting up a private enterprise.
4. Pros and cons of private enterprise.
- Business name: the business name must not cause confusion with previously registered enterprises nationwide;
- Head office: The address of the business must be clear, not located in an apartment complex with a function to live in, not in a local planning area, the head office must meet business conditions.
- Business lines: The business lines of the enterprise must be included in the system of national economic industries or specialized laws with regulations, prohibiting business in the areas prohibited by law.
- Investment capital of private enterprises: The current law does not stipulate the minimum capital level as well as the maximum capital level, however, when enterprises do business in industries that require legal capital.
- A sole proprietorship owned by an individual.
- Each individual is only allowed to own one private business.
→ For further reference: Can a private enterprise issue securities after establishment?
- Pursuant to Decree 01/2021/ND-CP, a private enterprise registration dossier will include the following documents:
- Business registration application form (according to the form).
- A valid copy certified or notarized of the individual establishing a private enterprise: valid ID/CCCD/Passport.
- Commitment to social and environmental goals (for social enterprises).
- The decision of the competent authority to allow the transformation of a social protection establishment, social fund or charity fund into a social enterprise (for the case of transformation of a social protection establishment, social fund, or charity fund) into a Social Enterprise).
- In case the business owner does not directly submit the application, he must authorize another person to submit it. Accordingly, individuals and organizations authorized to submit dossiers must prepare the following documents:
3. Order and procedures for setting up a private enterprise:
Figure 2. Thinh Tri Law - Advice on the order and procedures for setting up a private enterprise.
- Step 1: Submit application for establishment of a private enterprise
- A private enterprise submits an application by one of the following two methods:
- Submit the files at the One-Stop Department of the Business Registration Office of the Department of Planning and Investment where the enterprise's head office is located;
- Submit your application online at the National Business Registration Portal.
- Step 2: Settlement of records
- Within 03 working days from the date of receipt of valid dossiers, the Business Registration Office will complete the results and send them to the One-Stop Department to return the results.
- If the time limit has passed but the enterprise registration certificate is still not issued or a notice is received about the amendment or supplementation of the enterprise registration dossier, the enterprise founder has the right to lodge a complaint in accordance with the provisions of this Law in Clauses 2 and 3, Article 33 of Decree No. 01/2021/ND-CP.
- Step 3: Get the result
- In case the application file is valid and the business registration certificate is issued, the enterprise will receive the result directly at the Business Registration Office or by post (in case the enterprise authorizes the business registration). enterprises for public postal units).
→ More articles: Do you need a degree to set up a business?
- Hope this article will provide useful information to you.
→ More articles:
→ How much capital does it take to set up a private business?
→ Should I set up a private enterprise?
→ Should I set up a joint stock company or a 2 member limited company?
- For more information on the type of sole proprietorship and answer the question whether to establish a private enterprise or not? Please contact us directly via:
THINH TR LAW FIRM
Hotline: 1800 6365
