Queenlaw Vietnam

Pros and cons of starting a business

PROS

Starting a business helps keep you safe with a LIMITED LIABILITY.

Starting a business helps you manage your business professionally. Legal persons have their own accounts.

Starting a business means expanding the business scope and brand positioning nationwide and moving forward.

Starting a business to apply tax policies such as VAT deductions, VAT refunds, VAT invoices also known as ‘red’ invoices, etc.

CONS

DO NOT starting a business when you find that the taxation method applied to a business household is completely beneficial to you.

DO NOT starting a business until you have a specialized tax accounting department as well as a legal apparatus in general to protect your business against regulatory risks in Vietnam.

Business registration form

Congratulations on your decision to consider starting a business. Being an entrepreneur is rewarding and exciting but is also risky and demanding. We are here to help you weigh the decisions involved and get you started if that is what you decide to do. Are you ready?

2. Company name

3. Head office

4. Charter capital

5. The Investor

The Investor 2nd

The Investor 3rd

6. The Legal Representative

7. Business lines

8. Other information

9. Documents

You can upload documents including passports for individuals and certificates for organizations, etc.

UPLOADING FILE:

(Format: PDF, IMG. Maximum file size: 6 MB/file and 20 MB total)

10. CONTACT PERSON (*)

Queenlaw will contact you using the information below. This information is for contact only and is not business registration information.

Note: After pressing the "Confirm" button:
– Please wait for MINUTES in case of attaching LARGE files!
– Queenlaw will contact you in 24 hours, so please pay attention!

Business type. There are five types of businesses in Vietnam, and the three most common are single-member limited liability companies (LLC owned by 1 investor), limited liability companies with two or more members (LLC owned by 2 to 50 investors), and joint stock companies. It seems that now no one chooses a partnership or a private enterprise in Vietnam.

Business name. Every company in Vietnam has a Vietnamese company name. It may also have a name written in another language and an abbreviation.

For example:
CÔNG TY TRÁCH NHIỆM HỮU HẠN GENERAL MOTORS VIỆT NAM (Vietnamese)
GENERAL MOTORS VIETNAM LIMITED LIABILITY COMPANY (English)
GENERAL MOTORS VIETNAM (Abbreviated)

Head office. Every company in Vietnam has a head office address. This address includes house number, alley, street name, names of hamlet or village; commune, ward or township; district, town or provincial city; and province or centrally run city.

For example: No. 99, Hoang Dieu Street, Kim Ma Ward, Ba Dinh District, Hanoi City

Charter capital. Every company in Vietnam must declare its charter capital. There is no regulation on the minimum and maximum of charter capital. Charter capital is usually based on the size and usually declares from 100M VND to 100B VND.

For example: 2,300,000,000 VND, equivalent to 100,000 USD (1 USD = 23,000 VND)

INVESTMENT CAPITAL: Investment capital includes money and other assets used to carry out business investment activities. Investment capital is usually the same as charter capital, but not always. Your visa and TRP depends on this capital.

The Investor. The Investor may be an organization or individual investing capital to conduct business activities through establishment of economic organizations; contribution of capital to, or purchase of shares or capital contributions at, economic organizations; or investment in the form of contract performance or investment project implementation.

The Legal Representative. The legal representative (or the at-law representative) is an individual who represents the enterprise to exercise the rights and perform the obligations arising from transactions of the enterprise, and represents the enterprise in the capacity as plaintiff, respondent or person with related interests and obligations before the arbitration or court, and other rights and obligations as prescribed by law.

Business line. First of all, please click here to find your business lines (CPC code). In case you do not find the business line in the Schedule, or you want to describe it in your own language, feel free to skip this Schedule and tell us in your own words.

Queenlaw tips: This form is just a start for us to better understand the case, so please tell us the very basic information so we can make the best advice.

BUSINESS REGISTRATION PROCEDURE AT QUEENLAW:

Step 1: Please select a type of business and follow the Form to complete the required information.

Step 2: Queenlaw will check the validity and will provide legal advice to you after receiving the information.

Step 3: Please confirm your business registration and go to the payment step.

Step 4: Queenlaw carries out the procedure for granting the ERC to you.

NOTE: You can also create your own business registration dossier as directed here and send to tamnt@queenlaw.com.vn (hotline 1: 0985806066 (Ms Tam)).