When establishing a new company, it is necessary to learn a lot of information, below are the most basic information for the establishment of a company.

According to the regulation “State-owned enterprises include enterprises in which the State holds more than 50% of the charter capital and the total number of shares with voting rights”, so in the case of establishment of an enterprise with state capital from 50 % of capital or less, an established enterprise shall follow the procedures prescribed by the enterprise as follows:

1. Company name

Naming the company is very important, changing the name can change the round seal, invoices, forms, internal company documents, assets/accounts in the company’s name… It takes time and money, so it needs to be done carefully.

Currently, it is very common for newly established enterprises to have the same/confusing names with registered units. Khoa Tin can do a preliminary search at the National Office of Intellectual Property of Vietnam, and the website of the Ministry of Planning and Investment to avoid unnecessary problems and disputes.

2. Seal

The enterprise shall decide on the type, quantity, form and content of the seal of the enterprise, its branches, representative offices and other units.

The management and keeping of the seal shall comply with the provisions of the company’s charter or regulations issued by the enterprise, branch, representative office or other unit of the enterprise with the seal.

3. Company invoice

According to Decree 119/2018/ND-CP, you are required to use e-invoices, no need to check the office before using it like paper invoices.

4. Head office address

The company headquarters is very important information in the establishment. If the head office is invalid, the enterprise may have to withdraw the issued invoices, be fined for administrative violations on wrongly issued invoices, move the head office, set up a new sign, amend the document. internal copy, printing, packaging/text… the remedial work costs a lot of time and money.

Besides, the time of moving the headquarters is usually from 17 to 20 working days, the time of moving the head office of the enterprise is not allowed to issue an invoice, which is really difficult for manufacturing and distribution enterprises. , need to issue a daily invoice.

It is required that the company’s head office is a ground-floor house with a certificate of land use right; or Office building with full information on Construction Permit, not allowed to use collective, apartment building as office.

5. Charter capital

Charter capital is basically understood as the total value of assets contributed or committed to contribute by members when establishing the company, representing the liability of the enterprise. The higher the capital, the greater the liability.

High or low capital depends on the industry, as well as the size of assets and customers of each business.

For example: Minimum international postage 5 billion… In case an enterprise has large assets in its name, or regularly signs high-value contracts, it must have a corresponding capital level to facilitate tax accounting later. this.

Charter capital is also one of the criteria to show the level of the company: large, medium, small, super small, etc., serving the bidding/proofing of capacity. Raising capital is easy, but reducing capital is very difficult. Therefore, each company will have an appropriate level of charter capital.

6. Legal representative

The legal representative of the enterprise is the individual who represents the enterprise to exercise the rights and obligations arising from the transaction of the enterprise. The cadres/civil servants/officers are not allowed to act as legal representatives, except in exceptional cases state-owned companies have separate regulations.

7. Capital-contributing members/shareholders

The object of capital contribution can be an individual or/and an organization (except for a partnership, which only allows members to be individuals). Except for special cases, according to the law. Organizations may participate in capital contribution or work as out-of-hours professionals, but not in administration and management.

8. Company industry

Vietnam is applying the profession according to Decision 27/2018/QD-TTg  effective August 20, 2018. Enterprises can choose to register for level 4 trades (industry code with 4 digits) according to this Decision and there is no limit to the maximum number of industries.

Above is Khoa Tin‘s advice on the notes when setting up a company in Vietnam.

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./.