1. What is a one-member limited liability company?

Single-member limited liability company is an enterprise owned by an organization or individual (hereinafter referred to as the company owner). The company owner is responsible for the company’s debts and other property obligations to the extent of the company’s charter capital.

2. Conditions for establishment of a one-member limited liability company

2.1. Conditions for the owner of a one-member limited liability company

The company owner is an individual or an organization that invests capital to establish a company. Individuals can be Vietnamese citizens or foreign investors. Organizations can be domestic economic organizations or overseas economic organizations investing in Vietnam.

2.2. Conditions on company name

The company name must ensure the following elements:

• Type of business: The name of the business type is written as “limited liability company” or “limited company”
• The company’s proper name is written in the letters of the Vietnamese alphabet.
• The company name must be affixed at the head office, branches, representative offices and business locations of the company. The company name must be printed or written on the transaction papers, documents and publications issued by the company.

2.3. Conditions on industry when registering business

– The company is allowed to conduct business lines not prohibited by law and has registered business lines with state management agencies.

– Currently, enterprises register their industries under the industry code level 4. Attention should be paid to the industries and trades banned from business investment as prescribed in Article 6 of the Law on Investment.

– For lines of business with conditional investment, enterprises may only do business when they fully satisfy the prescribed conditions. The list of conditional business lines and industries is specified in Appendix 4 to the Law on Investment.

2.4. Conditions for the head office of the enterprise (business location)

The head office of the company is the contact point of the company in the territory of Vietnam, whose address is determined including house number, niche, alley, alley, street, street or hamlet, hamlet, commune, ward. , townships, districts, districts, towns, provincial cities, provinces and centrally run cities.

If the company registers the address of the company’s headquarters in a building with office functions, it must provide documents proving that the address is allowed to act as an office.

2.5. Conditions for charter capital when establishing a company

For industries and professions that do not require, the company’s capital is decided by the company owner and registered when the company is established. In case of failure to fully contribute charter capital within the prescribed time limit, the company owner must register a change in charter capital equal to the value of the contributed capital within 30 days from the last day on which to fully contribute charter capital. .

Charter capital is the basis for tax authorities to determine the license tax rate that enterprises must pay in a year.

2.6. Conditions for legal representatives

In case the company owner is not concurrently the legal representative of the company, you must provide additional information of the legal representative.

3. Procedures for establishing a one-member limited liability company

Step 1: The set of documents to establish a limited company. Note: This set of documents needs to fully meet the conditions of a one-member limited liability company

1. Company rules
2. Application for business registration
3. Power of attorney for the applicant (if any)
4. Attached documents

Step 2: Submit your application at the Business Registration Office, the Department of Planning and Investment of the province or city where the business is located or submit it online via dangkytinhdoanh.gov.vn.

Step 3: Within 3 working days, this agency will process the application for the business. If the application is valid, the enterprise shall submit an additional set of hard copy documents (if it was previously submitted online) and receive a certificate of business registration. On the contrary, if the application is not valid, the Department of Planning and Investment will issue a notice guiding the adjustment or modification or supplementation of the business registration dossier. Enterprises add information and resubmit from the beginning.

Step 4: Enterprises return the hard copy application (if previously submitted online) and receive the results at the Department of Planning and Investment.

Above is Khoa Tin‘s advice on conditions and procedures for establishing a one-member limited liability company.

In case customers have unclear issues or need to discuss further, please call us immediately at 0983.533.005 for a free consultation.

Best regards./.