Establishing a business is a comprehensive process that requires entrepreneurs to thoroughly research before taking action. Without the necessary knowledge, future businesses could face unnecessary disadvantages. With nearly 20 years of experience and a team of highly skilled and responsible lawyers, Viet My Law and Accounting Company offers fast and cost-effective business formation services. Obtain your business license within just 5–7 working days. We guarantee compliance with the law and no additional costs.

1. Detailed Documents and Procedures for Business Formation in 2024

1.1. What documents are required for business formation?

The business formation documents are prepared in accordance with the Law on Enterprises 2020, Decree No. 01/2021/ND-CP, and specific document templates based on each type of business, as regulated by Circular No. 01/2021/BKHDT. Investors can prepare the required documents themselves or utilize the company formation services offered by Viet My Accounting, where you only need to provide the following essential documents and information:

• Proposed company name: To check for availability and avoid duplication or confusion with other businesses.
• Business address/phone number
• Desired business activities: Listed in bullet points for registration.
• Certified copy of ID or passport for each contributing member (scanned notarized copy for submission).
• Proposed registered capital: No proof of capital is required for charter capital.
• Legal representative: Must be at least 18 years old and not fall under any restrictions for company establishment.

Once we receive all the necessary information, Viet My experts will prepare the documents within 2 hours for your signature, then submit the application to the Department of Planning and Investment.

1.2. Steps for Business Formation Services at Viet My

Step 1: Receiving and processing customer information
Viet My Accounting will collect the information provided by customers. We will then consult and address any concerns to help you choose the most appropriate and accurate business model for your needs.

Step 2: Advising on affordable business formation solutions and tax optimization
After selecting the suitable business model, Viet My will provide detailed guidance on procedures, workflows, and the best solutions for your specific requirements.
Based on your company formation needs, our tax experts will advise on optimal tax strategies right from the start to ensure the most comprehensive service beyond just legal assistance.

Step 3: Negotiation and contract signing
Once you are satisfied with the consultation, Viet My will proceed to sign the service contract with you.

Step 4: Reliable execution of business formation services
Viet My Accounting will represent you in completing all documents and procedures quickly and accurately. Our team will stay involved throughout the process, providing dedicated support for all related formalities.

Step 5: Contract completion and post-service support

After completing all documentation and formalities, Viet My will hand over all relevant documents, records, and books to you. Moreover, should you encounter any legal issues during your business operations, our team is always ready to assist and resolve your concerns. We are committed to supporting you at every stage of your entrepreneurial journey.

2. What You Receive When Using Viet My Company Formation Services

Within 5–7 working days, you will receive a complete set of company formation documents, including:

• Original Business Registration Certificate
• Company Seal (round seal)
• Title Seal (customized to your order quantity)
• Company Charter and Internal Documents
• Tax Code, which is also your Business Registration Code
• Complimentary E-invoices based on your registered package
• Support or Complimentary Premium Mica Signage based on your package
• Assistance with all initial tax-related documentation and more.

3. Costs of Viet My All-Inclusive Business Formation Services

Currently, Viet My Accounting offers two main company formation packages, covering both service fees and government fees. We guarantee no hidden costs.

Pricing Table for Viet My Services

3.1 💮 Basic Package – Get your Business License and Seal immediately: 1,500,000 VND
Includes:

• Preparation of investment, member, and shareholder documents
• Drafting company charter
• Publishing your company’s announcement on the National Business Information Portal
• Business Registration Certificate (company license)
• Enterprise Tax Code
• Initial tax guidance for first-time customers
• Free bank account opening with the option to choose a “golden” account number
• Support for title seal and standard company signage
• Assistance with registering e-invoice issuance (requires digital signature and e-invoice account)

With the Basic Package, we provide comprehensive support from document preparation to officially launching your company, ensuring a smooth, legal, and expedited process.

3.2 💮 Convenient Package – 3,500,000 VND, now discounted to 3,000,000 VND (excludes VAT)

Ideal for startups requiring essential services for a new company, including:

• Original Business Registration Certificate
• Company Seal (round seal)
• Title Seal
• 2-year Digital Signature Certificate
• 300 e-invoices
• Premium bank account with MB Bank processed at home

Processing Time: 5–7 working days to receive your tax code.
Additional Benefits:

• Free Legal Consultation for 3 Months
• After obtaining your golden Business Registration Certificate, we’ll assist with:
  • E-invoice issuance notification
  • Registering an account on the tax portal
  • Filing the 2024 business license tax declaration
  • Designing custom e-invoice templates with logos
• Complimentary Management Handbook

3.3 💮 Comprehensive Package – 3,800,000 VND

Get your business up and running quickly with full essential services:

• Name check to avoid duplication with other companies
• Documentation for capital contribution, members, or shareholders
• Professional drafting of the company charter
• Publishing information on the National Business Information Portal
• Registration of import/export code (for companies engaged in trading activities)
• Company Tax Code and Business Registration Certificate
• Declaration of license fees and initial reports during registration
• Guidance for VAT invoicing and first-time electronic tax filing
• Bonus: 1,500 e-invoices for free

Additional Benefits:

• Customized company seal (round or square)
• Label engraving for office use
• Complimentary premium mica signage
• Free bank account opening with a premium account number at MB Bank
• Support for trademark and brand protection under intellectual property laws
• Assistance in finding a business registration address for clients without a location
• Ongoing legal consultation and support to address business issues effectively.

Payment Options

• Viet My accepts payments via company accounts and issues invoices for all services.

We offer nationwide company formation services, ensuring convenience and reliability for every client.

4. When Should You Establish a Business?

Currently, many investors continue operating production and trading activities without officially establishing a company. Instead, they register as sole proprietorships to manage their business operations. However, sole proprietorships come with certain limitations, such as restrictions on the number of employees, inability to issue value-added tax invoices, lack of legal status, and the fact that foreign investors cannot register as sole proprietorships.

For investors aiming for a more professional, structured, and long-term business strategy, establishing a company is essential.

You should consider forming a business when:

• Your business activities require issuing value-added tax (VAT) invoices.
• You need legal status to sign contracts for sales, production, distribution, or service provision.
• You want to legalize your business operations to comply with the law.

5. What Conditions Must Be Met When Establishing a Business?

According to the Enterprise Law 2020, Investment Law 2020, and the WTO Commitments of the World Trade Organization that Vietnam adheres to, both domestic and foreign investors must meet the following conditions to establish a company in Vietnam:

• Legal Representative and Owner: Must be at least 18 years old, possess a valid ID card, citizen identification card, or passport, and not belong to groups prohibited from establishing businesses.
• Company Address: Must have a specific and verified address that is not located in residential apartment buildings.
• Company Name: Must not duplicate or cause confusion with the names of pre-existing businesses nationwide.
• Charter Capital: Must determine the charter capital to register the business. This is the amount contributed or committed by the owner, members, or shareholders to be fully paid within 90 days from the issuance of the Business Registration Certificate and recorded in the company’s charter.
• Business Activities: The chosen industry must be legally permitted, and the business must meet any specific requirements for that industry (if applicable).
• Company Type: Investors should carefully select the appropriate company type based on criteria such as tax obligations, legal responsibilities, transferability, scalability, and business efficiency.

6. Frequently Asked Questions

6.1. Where to Submit Business Registration Documents?

The documents must be submitted to the Business Registration Office at the Department of Planning and Investment where the company’s head office is registered.

6.2. What Should Be Done After Establishing a Business?

Once the Business Registration Certificate is issued, companies must:

• Create the company seal.
• Open a bank account and register for electronic tax payment.
• File and pay the business license tax declaration.
• Submit initial tax declarations to the Tax Office managing the business.
• Display the company signboard at the registered office.
• Register for e-invoicing (if required).

6.3. How Much Capital Is Needed to Establish a Business?

–  According to the current Enterprise Law, the declaration of capital is at the discretion of the business. Companies are responsible for self-declaring and assuming liability for their registered charter capital.
–  For industries that require statutory capital, businesses must register the capital level in accordance with legal regulations. However, they are not required to prove the source of funds but must ensure accountability for the declared capital and meet the deposit requirements specified for certain industries.

Business Formation Services play a crucial role in helping individuals and organizations embark on their business journey smoothly and professionally. With expert support, the process of setting up a business becomes easier, saves time, and minimizes legal risks. This is the optimal solution to help businesses focus on developing their core operations from the very beginning.

Choosing a reputable and suitable service provider will serve as a solid foundation for sustainable growth and success. Place your trust in VIET MY LAW AND ACCOUNTING, and contact us today to receive the best offers!

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