Are you looking to start a business and don’t know where to start? Our comprehensive company formation service will help you navigate the steps of establishing a company. From choosing a company type, naming it, determining members and capital, to drafting and filing the registration documents, we are there for you.

1. When to establish a company?

You should establish a company when:

• Meet the requirements for issuing value-added invoices: When establishing a company, you can satisfy the requirements for issuing VAT invoices, ensuring professionalism and compliance with tax regulations in your business activities.
• Legal status: Establishing a company helps you have an independent legal status, creating conditions for signing contracts for purchase, production and service provision with partners. This brings reliability and stability to your business relationships.
• Legalize business activities: Establishing a company helps you legalize your business activities, fully complying with legal regulations. This helps you avoid legal risks and creates favorable conditions for sustainable business development.

2. Advantages and disadvantages of establishing a company

3. Steps of establishing a company

3.1 Step 1: Prepare documents

Before establishing a company, you need to prepare important documents. Here are the necessary steps:

1. Choose the type of business: Decide on the type of company that suits your business purposes, including LLC, JSC, Partnership, or Private Company.
2. Choose the business line: Determine the business line in which your company will operate. This ensures compliance with regulations and licenses related to that industry.
3. Name the company: Choose a unique and suitable name for your company. Make sure that the name is not duplicated with other companies and complies with regulations on naming companies.
4. Determine the company address: Choose the company registration address and headquarters. This address must comply with legal regulations and be suitable for your business activities.
5. Identify members/shareholders: Identify the members or shareholders of the company. For a limited liability company, at least 2 members are required, while for a joint stock company, the number and value of shares owned by each shareholder must be determined.
6. Identify the charter capital: Specify the charter capital that the company needs to meet. This capital level will vary depending on the type of company and legal requirements.
7. Identify the legal representative: Identify the person authorized to act as the legal representative of the company. This person will represent the company in legal transactions and liaise with government agencies.

Preparing the above documents is an important step towards the successful establishment of the company and the start of business operations.

3.2 Step 2: Drafting and preparing documents

The second step in the steps to establish a company is to draft and prepare the necessary documents:

1. Application for company registration: Draft a company registration application including information such as company name, company type, address, business lines and information about the legal representative.
2. Company charter: Draft the company charter, which is a document that stipulates the rights, responsibilities and interests of members/shareholders, organizational structure, powers of company management agencies and other regulations related to company operations.
3. List of members/shareholders contributing capital: Prepare a list of members/shareholders contributing capital to the company, including personal information, contributed capital and ownership ratio in the company.
4. Copy of identification documents: Prepare copies of identification documents of members/shareholders contributing capital such as ID cards, passports, driver’s licenses, to notarize and attach to the company registration dossier.
5. Investment certificate (if necessary): If your company is a foreign invested company, it is necessary to prepare an investment certificate or related documents according to the provisions of investment law.
6. Additional documents: Depending on each specific case, you need to prepare other additional documents such as business license, construction license, certificate of occupational safety and hygiene, etc.
7. Authorization document: If you authorize another person or organization to represent you in the process of establishing a company, you need to have a legal authorization document and prepare documents related to this authorization.

3.3 Step 3: Submit documents and publish the announcement

After preparing the necessary documents, you need to follow these steps to submit documents and publish the announcement of company establishment:

• Determine the affiliated registration agency: Find out and identify the affiliated company registration agency, usually the Department of Planning and Investment or the local Business Registration Management Department.
• Submit documents and pay the announcement fee: Fill in all information and submit the company registration application as required by the registration agency. At the same time, you need to pay a fee to publish the announcement of company establishment.
• Receive a business certificate: After checking and confirming the registration application, the registration agency will issue a business certificate to your company. This is a certificate confirming that the company has been established and is recognized by law.
• Post the announcement: After receiving the business certificate, you need to publish the announcement of the company establishment. The announcement may be made in mass media such as newspapers, the official website of the registration authority or other media as prescribed by law.

3.4 Step 4: Make a legal seal

After completing the previous steps, you need to carry out the work related to making a company’s legal seal. Here are the necessary steps:

• Design a seal sample: You need to prepare a seal sample in accordance with the legal regulations on seals and signatures. The seal sample usually includes the company name, business license number, address and other contact information.
• Engrave the seal: Bring the seal sample to a reputable and authorized seal engraving facility to carry out the seal engraving process. You need to provide the necessary information and wait for the seal engraving process to be completed.
• Receive the seal: After the seal has been engraved, you need to receive the seal and check it carefully to ensure its accuracy and legality. If there are any errors, request immediate correction.

3.5 Step 5: Procedures after company establishment

After the company has completed the establishment process, you need to carry out the following procedures to ensure that the company’s business activities take place legally and smoothly:

Posting a sign: Prepare and post a company sign at the business address to publicize information about the company and create recognition for customers and partners.

Registering a digital signature: Registering a digital signature for use in electronic transactions, signing contracts and other online procedures. Digital signatures help verify the integrity and authenticity of electronic documents.

Registering a bank account: Opening a bank account for the company to manage finances, receive and pay for business transactions.

Registering for online tax declaration: Registering for online tax declaration services for convenience in submitting tax declarations and fulfilling tax obligations according to the law.

Submit tax declarations: Submit tax declarations periodically and on time as prescribed by the tax authority. This ensures compliance with tax laws and avoids risks.

Registering VAT (value added tax) calculation methods: Identify and register VAT calculation methods appropriate to the company’s business lines. This ensures compliance with VAT regulations and avoids violations of the law.

Registering and using electronic invoices: Registering and using electronic invoices for convenience in storing and exchanging invoice information with business partners.

Preparing all business conditions: Ensuring that the company has fully prepared the conditions for human resources, offices, facilities and other factors to carry out business activities effectively and sustainably.

4. Things to consider when establishing a company

4.1 Choose a company type

Determine the type of company that suits your business needs and goals. Common types of companies include LLCs, joint stock companies, partnerships, and sole proprietorships. This will affect the rights, responsibilities, and management of the company.

4.2 Choose a company establishment date

Decide on the official date of establishment of the company. This is the date on which the company will be legally recognized and begin operating. Typically, this date is decided by the company founder or as designated by the regulatory authority.

4.3 Tax declaration after establishment

Immediately after establishing a company, you need to register and declare taxes with the local tax authority. This process includes registering a tax code, registering for an accounting program, and reporting taxes periodically. Tax compliance is important to ensure legal business operations and avoid future legal and financial problems.

5. Full-package company establishment service in Viet My

The full-package company establishment service in Viet My is a comprehensive and convenient solution for you to establish a company in Vietnam quickly and effectively. This service provides all aspects of the company establishment process, from preparing documents, drafting documents, submitting documents and publishing notices to post-establishment procedures.

With the full-package company establishment service, you will be supported and advised by experts with experience in the fields of law and accounting. They will help you choose the appropriate type of company, choose the business line, name the company, determine the company address, determine members/shareholders, determine the charter capital, and determine the legal representative. Contact us for more information.

The full-package company establishment service at VIET MY LAW AND ACCOUNTING supports you in the steps of establishing a company as well as choosing the type of company, naming, determining members and charter capital, drafting documents, submitting documents and publishing notices, making seals, registering digital signatures and bank accounts, registering for tax declarations and electronic invoices. This service helps save time, ensures compliance with legal regulations and receives professional support, creating favorable conditions for a successful business journey.