Is establishing a limited liability company a popular trend today? Are you looking to learn about the procedures for establishing a limited liability company? You are in the process of preparing documents to establish a limited liability company but you still do not fully understand the legal regulations on the process, legal procedures, and finances of the limited liability company type. Don’t worry, in this article, Viet My will provide you with knowledge, information, and extremely important and necessary notes when performing the procedures for establishing a limited liability company. Let’s start learning about the Procedures for establishing a LLC in the article below!
A limited liability company (LLC) is one of the types of enterprises in Vietnam today. The company will be established by an individual or an organization or many individuals/organizations (no more than 50 people) together by contributing capital.
There are two forms of limited liability companies. Single-member LLC, LLC with two or more members.
Conditions for establishing a company are regulations that a company must comply with when establishing a limited liability company. Investors must meet the following prerequisites:
These are the main requirements for establishing a limited liability company. For the establishment of a single-member limited liability company or a limited liability company with two or more members, there will be additional separate conditions for each type of company.
A company establishment document is indispensable when wanting to establish a limited liability company. These are the required documents that must be prepared and must be available if you want to establish a limited liability company in 2023.
Based on the provisions of Article 24 of Decree 01/2021/ND-CP, the documents to establish a single-member limited liability company will include:
Based on the provisions of Article 23 of Decree 01/2021/ND-CP, the dossier for establishing a limited liability company with 2 or more members will include:
The procedures for establishing a LLC are extremely important and must be noted when performing. It will be affected from before starting the procedure until after completing the procedure, there will be many important tasks that must be done.
The procedure for establishing a single-member limited liability company will go through the following stages
Step 1: Prepare information and dossiers to establish a limited liability company with 2 members as shown above.
Step 2: Draft and complete the dossier to establish a limited liability company with 2 members
Step 3: Submit a complete dossier to establish a limited liability company with 2 members as shown above to the business registration office of the local province/city.
Step 4: Receive the business registration certificate according to regulations (if the dossier is complete and accurate).
Step 5: Complete the company seal engraving procedure + Advertise the seal sample on the national registration information portal.
Step 6: Open a bank account + Notify the bank account number to the business registration authority.
Step 7: Register for electronic tax payment with the tax authority and the bank confirms the electronic tax payment registration.
Step 8: Pay the copyright fee online using an electronic digital signature to pay the commercial copyright fee (If you do not have a digital signature, you need to buy a digital signature to perform this step to pay the copyright fee. Please refer to the electronic version of the signature service price list).
Step 9: Go to the local tax authority to do the first tax declaration procedure, submit the first tax declaration, submit the invoice printing order, receive the invoice printing order, order the invoice printing, notify the invoice issuance and finally issue the VAT invoice).
Step 10: Perform monthly, quarterly and annual tax and accounting reports (during this period and later, the company must have at least 01 qualified accountant).
When establishing a company, whether it is a limited liability company or any other type of company or enterprise, a large amount of money will be required, from investment capital to fees according to state regulations. Investors should consider the costs when investing in a business to avoid having to stop halfway because they cannot turn over capital.
a. Business registration fee paid to the Department of Planning and Investment according to current regulations
Article 32 of Decree 01/2021/ND-CP stipulates that the person establishing a company or enterprise must pay business registration fees at the time of submitting the application for registration.
The fee for business registration according to Circular 47/2019/TT-BTC is 200,000 VND.
However, according to Circular 47/2019/TT-BTC replacing Circular 215/2016/TT-BTC, the business registration fee is reduced to VND 100,000.
The person registering to establish a business can pay the fee directly or transfer it to the account of the Business Registration Authority or use the electronic payment service
In addition, businesses registering online are exempt from the business registration fee. Note that if the business does not receive the business registration certificate, this fee will not be refunded to the business.
b. Business registration content announcement fee: The business registration content announcement fee according to Circular 47/2019/TT-BTC is VND 100,000.
c. Business seal engraving fee: depends on the seal engraving service provider and the type of seal requested. The price for a round stamp ranges from 250,000 VND to 350,000 VND. Title stamps for the positions of Director, Chairman, etc. range from 70,000 VND to 150,000 VND.
d. Digital signature (Token) purchase fee: The cost depends on the supplier and the number of years of use. A digital signature used for 03 years of use ranges from 2,000,000 VND to 3,000,000 VND.
e. Business license fee
The business license fee will depend on the registered charter capital when establishing the company that the enterprise must pay at the following levels:
| Charter capital | Annual premium |
| Over 10 billion VND | 3,000,000 VND |
| From 10 billion VND or less | 2,000,000 VND |
f. Issuing electronic invoices and VAT invoices
The costs that businesses have to pay depend on the choice of the business: the business invests in infrastructure for this work or uses an external electronic invoice service.
g. Some other costs of establishing a company
The above costs of establishing a company are normal costs and are in accordance with the provisions of law
In addition to these costs, when using the company establishment service, the founder must also pay costs to the service provider such as costs of designing and printing company signs, service fees for initial tax registration, costs of equipping the company’s facilities; costs of renting business premises – headquarters.
With the development orientation of providing company establishment services in general and LLCs in particular to customers nationwide in the best, fastest and most effective way, please note:
Unlike companies providing similar services that often require customers to come directly to the office to complete paperwork procedures, Viet My’s business establishment service is a complete, complete service. We are the pioneer in Hanoi to provide direct consultation to the address requested by the customer.
In addition, during the work process, our consultants will meet customers directly to deliver documents, deliver results and perform other related tasks. Customers will not have to waste time traveling during the work process, let our experts do it all.
Especially after consulting on the procedures for establishing a LLC, Viet My also provides post-establishment services. All issues related to newly established businesses will be consulted and supported to resolve quickly and effectively.
VIET MY LAW AND ACCOUNTING is committed to providing customers with quality articles on the procedures for establishing a LLC. Currently, many members when cooperating with each other have chosen the form of establishing a limited liability company. Both the current trend and the coming years due to easy management as well as transparent profit sharing. If you need a business establishment consulting package, please contact us for support.
Mr. Nguyen Thanh Phuc has more than 15 years of experience in business administration, consulting, legal support, tax and strategic consulting. Mr. Nguyen Thanh Phuc is a leading expert in the field of Law and Accounting in Vietnam, founder of the Viet My Law and Accounting brand, which has successfully franchised more than 30 branches nationwide. Viet My is the only Vietnamese brand reputable enough to franchise and succeed in the fields of Law and Accounting.
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