Procedures for establishing a company in Binh Duong require compliance with many administrative procedures and providing all relevant documents. You need to prepare registration documents, personal documents, business license, company establishment decision and comply with business regulations. If necessary, learn more about the process or use consulting services to ensure company establishment goes smoothly and according to regulations.

1. Issues to pay attention to when establishing a company in Binh Duong

Before carrying out the procedures to establish a company in Binh Duong, business organizations and individuals need to carry out the following tasks to help prepare documents to establish a company in Binh Duong. quickly and conveniently such as:

• Choose the type of business that suits the needs and business purposes of the business entity;
• Choosing the type of business allows the business entity to name his or her company, because the company name will include the type of company. When naming the company, it also needs to meet certain conditions such as: be identical or confusing with the names of other companies that have operated, do not contain vulgar words, etc.;
• The company needs to choose where to locate its headquarters in Binh Duong in locations suitable for the company’s business field;
• Determine the appropriate type of business. For conditional business lines, the company needs to meet those conditions, that is, it must have sub-licenses in addition to the business registration license.

2. Steps to take to complete procedures for establishing a company in Binh Duong

Step 1: Prepare documents to apply for a Business Registration License

Business organizations and individuals need to prepare documents and submit documents to apply for a business registration license from the Department of Planning and Investment of Binh Duong province when carrying out procedures to establish a company in Binh Duong.

Documents required to carry out procedures to establish a Binh Duong company include the following legal documents:

• Business registration application form of the enterprise according to the form in Circular 01/2022/TT-BKHDT submitted to the Department of Planning and Investment of Binh Duong province includes basic contents such as: name of the business owner, headquarters of the enterprise, industry, business field of the enterprise, number of members, charter capital,….
• The company’s charter includes content such as company name, company headquarters located in Binh Duong and branches (if any); In addition, it also stipulates the amount of charter capital; number of shares and capital contributions of members in the company; rights and obligations of members of the company; how to divide profits among members; determination of salaries and remunerations of business managers,…
• List of members in a limited liability company or list of shareholders of the company for a joint stock company.
• Certified copy of one of the following documents in case of an individual: Valid ID card, citizen identification card,  valid passport.
• Business registration certificate or enterprise registration certificate in case of an organization. In addition, personal identification documents of the legal representative of the organization or authorization decision of the authorized representative of the organization must also be attached. Except in cases where the organization is a Ministry or People’s Committee of a province or city, this registration certificate is not required.
• Decision on capital contribution for members who are organizations.
• Power of attorney for Viet My Law Company when an organization or individual establishing a company requests to proceed with company establishment procedures in Binh Duong.

After receiving all the information provided by the customer to Viet My Law Company, the company will prepare the documents and send them for the customer to sign. After that, the company will act on behalf of the customer to carry out company establishment procedures at the Department of Planning and Investment of Binh Duong province until the customer completes their business registration procedures.

Step 2: Announce business registration information

Enterprises publish business registration information on the electronic information portal of the Department of Planning and Investment of Binh Duong province when carrying out company establishment procedures.

After receiving the Certificate of Company Establishment issued by the Department of Planning and Investment of Binh Duong province, the company must make a public announcement on the national information portal on business registration according to the order and procedures. according to regulations of the Law. At the same time, the company must pay fees according to the provisions of law. The published content includes the contents of the business registration certificate and information about the company’s industry, business lines, and business fields.

Note:

• If you self-publish your business registration information, it must be done within 30 days from the date of issuance of the Business Registration Certificate. In case of failure to comply on time, the company will be subject to administrative sanctions.
• According to Article 26, Decree 122/2021/ND-CP, effective January 1, 2022, provides for administrative penalties in the areas of planning and investment in case an enterprise fails to make its registration public on time, it will be administratively fined VND 10,000,000 – 15,000,000. At the same time, enterprises must also take remedial measures such as: forcing the public disclosure of the contents of enterprise registration on the National Portal for Enterprise Registration that had not been done before.

Step 3: Carve a seal for your company

The next procedure for registering an enterprise is to engrave a seal to its company and submit a notification form of the enterprise’s seal when carrying out the procedures for establishment of the enterprise.

• Within 1 day from the date the company is issued a Certificate of Enterprise Registration by Binh Duong Provincial Department of Planning and Investment, Viet My Law will carry out procedures to engrave a legal seal and notify the business registrar of the company’s seal.

The 2020 Enterprise Law has abolished the provision on the publication of stamp samples to enterprises. Accordingly, the enterprise only proceeds with stamp carving activities for its enterprise without performing procedures to post information on its stamp form. Thus, the enterprise will engrave its own seal and be responsible for the implementation of the seal during the operation of the company. This reduces the procedures for establishing a company. Since then, time for enterprises has been shortened and work for the Department of Planning and Investment has been minimized. At the same time, this new regulation poses problems for the self-management of enterprises without supervision by state agencies.

3. The cost of establishing a company in Binh Duong

Fees for company registration in Binh Duong

Article 32 Decree 01/2021/ND-CP stipulates that enterprises and companies must pay fees and registration fees at the time of filing for establishment of the company.

The registration fee for establishing enterprises and companies is 100,000 VND/time (according to Circular 47/2019/TT-BTC).

The applicant for establishment of the company pays the fee directly by electronic payment service.

In addition, a company that performs registration of establishment of an enterprise through an electronic network will be exempted from the registration fee of the enterprise.

Fees for Disclosure of Contents on Enterprise Registration

According to the provisions of the 2020 Enterprise Law stipulated within 30 days, the company must publish the contents of the enterprise registration on the National Enterprise Portal.

The fee for announcing the contents of enterprise registration is 100,000 VND according to Circular 47/2019/TT-BTC.

Cost of engraving the company’s seal

Depending on each unit providing seal engraving services, the price varies.

The cost depends on each unit providing stamp engraving services, the type of seal required by the company. The price for the company’s round stamp can range from VND200,000 to VND300,000. The title mark such as the chairman and director can range from VND 70,000 to VND 150,000.

The cost of making a company sign

Depending on the word sea bream unit, there is a different price range. In the market, the price of the sign varies from 300,000 VND – 1,500,000 VND depending on the material and size of the sign.

Digital Signature Purchase Fee (Token)

Enterprises can contact digital signature providers such as Viettel, Vina, Vinca, etc. to buy a Digital Signature device.

This cost depends on each vendor and the number of years of service use. The digital signature has a period of 3 years of use ranging from 1,500,000 VND – 2,000,000 VND.

Fee for opening a bank account

Enterprises and companies must open bank accounts for transactions and use them to pay taxes in accordance with current obligatory laws. The procedure for opening a bank account will be free of charge, however, enterprises and companies need to ensure that the balance in the account is 1,000,000 VND.

Card fee

The subject fee is based on the charter capital of the company and divided into the following two levels:

• The charter capital of less than 10 billion has a subject fee of 2,000,000 VND/year.
• The charter capital of more than 10 billion has a card fee of 3,000,000 VND/year.

4. Common question

4.1 Is the subject entitled to establish a company?

According to the provisions of individual law, just over 18 years old and not subject to enterprise establishment can establish a company. For civil servants and officials, these entities can only contribute capital to joint stock companies due to transfer and stock investment in the stock market.

4.2 Is the condominium registered as the company headquarters address?

According to Clause 3, Article 3 of the 2014 Housing Law, if an apartment has a purpose to stay, it is not allowed to be a company headquarters, but apartment buildings with a mixed purpose to stay and do business will be allowed on some floors.

4.3 Can the company register multiple legal representatives?

It is not prohibited by law that a person can be a legal representative of two companies but only stipulates that the company can have one or more legal representatives. Therefore, the company owner can act as a legal representative for many companies.

4.4 Can I name my company with the same name as another company?

According to regulations, the company must not overlap or cause confusion with other companies. Words that violate Vietnamese ethical, cultural, and pure customs standards must not be used to name the company.

4.5 What taxes may be payable after the establishment of the company?

After establishment of the company, tax declaration and payment of taxes will be required as stipulated. It can be said that:

• Card fees;
• Enterprise income tax;
• Value added tax;
• Personal income tax;
• Tariffs on exports and imports;
• Resource tax;
• Excise taxes.

Here is some information on the procedures for establishing a company in Binh Duong. Establishment of the company requires proper compliance and completion of administrative procedures, adequate provision of documents and compliance with business sector regulations. To ensure that the company’s establishment process goes smoothly, you can learn more about the process or use consulting services from experts for the best support. In addition, immediately contact Viet American Law and Accounting for completely free advice on services.