Nowadays, the demand for security services is increasing because whether it is a business, a store, a shopping mall, a small and medium-sized store, an apartment, a house, etc., all need security. Therefore, security services business will bring a lot of profit. This article provides basic information to answer the question of what is needed to establish a security service company? This is very important for entrepreneurs to remember when registering a security service business.

1. Conditions for establishing a security service company in 2024

Procedures for establishing a security service company according to Decree 96/2016/ND-CP include:

• The security service business unit must be an established enterprise
• The person responsible for security and order in the security service company must have a university degree or higher. In addition, this person must not be the person responsible for security and order of the security service company whose Certificate of Permanent Residence has been revoked in the previous 24 months.
• Vietnamese security service companies can enter into joint ventures with foreign companies when they need to invest in machinery and technical equipment for security work. The form of business cooperation is to provide capital to purchase machinery and equipment for security work.

2. Some things to note when security service company establishment

Sufficient capital to form the foundation for a security service business: The first thing everyone knows is capital. Whether it is a business or a startup, capital is necessary. So where does this capital come from?

To open a security service business, you need a certain amount of capital depending on the scale. Whether you borrow or seek investment from others, it is necessary. You cannot do anything without enough capital. Once your small “empire” is established, many things will arise that require capital.

Marketing and advertising strategy: When starting a business, the most important question is the source of employment. Currently, most companies approach sourcing work through many different channels. We cannot ignore the online job search channel advertised through news sites, newspapers, social networks, etc.

Business planning: A specific and detailed business plan will lead you to success. It is necessary to present your idea to potential investors. Your business plan should include an objective statement, a summary of the company, service or product offerings, a description of the target market, financial plans and operating costs. …

To have a suitable and well-developed business strategy, you need to have a sharp vision, the ability to evaluate the market and recognize the potential of the product, from which you can build a development plan for each stage and then draw conclusions. Combine your experience and focus your efforts to achieve higher goals.

Define the target market: Defining the target market and key customers is very important. Who are your customers? What are they doing? What is the demand for the product? … from there, evaluate the market, target potential customers as a basis for development. At the same time, you also need to determine who your competitors are, what is the level of competition in your target market, and then find ways to reduce the competition of your competitors with your business.

Don’t be too afraid of competition: Don’t criticize your competitors, in fact, speaking this way can even “bring” customers to competitors. Remember, the market will only exist when there is competition and your business has a foothold. Use this knowledge as inspiration to do better than your competitors. Need to focus on building a brand in business.

Problems when hiring an accountant to do accounting: For a newly established small business, it is not necessary to hire a hard-working employee to do accounting and tax work. You can hire an accounting service to save on upfront costs. Choosing a law firm can be a reputable alternative to your company’s accountant.

3. Detailed procedures and processes for security service company establishment

A security company can operate in the following areas: services to protect property, people, purposes and legal activities of individuals, agencies and organizations.

The above industries are on the list of industries with conditions to ensure social security according to the provisions of law. Therefore, when wanting to establish a business and operate in the security service industry, the business founder must meet the requirements listed below.

3.1 Procedures for establishing a security service company

Step 1: Prepare documents and submit them to the Department of Planning and Investment to apply for a business registration certificate.

Documents for establishing a business company include:

• Application for business registration
• Company charter
• List of members or shareholders (if it is a limited liability company with two or more members or a joint stock company)
  Valid copies of identification documents of individuals and legal entities:
  • Valid ID card or passport for individuals;
  • Business registration certificate/Business registration certificate for organizations (except in cases where the organization is a Ministry/People’s Committee of a province or city) and accompanied by identification documents and authorization decision of the authorized representative of the organization;
  • Capital contribution decision for members who are organizations

Step 2: Announcement of company registration information

After being granted a Business Registration Certificate, the company must publicly announce the business registration on the national information portal in accordance with the correct procedures and pay the prescribed fees.

Step 3: Seal engraving

Companies decide on their own seal designs and manage their own seal designs.

Note: Businesses must register in the field of “Personal security activities (8010)” to provide security services.

After establishment, businesses are only allowed to operate security services if they have a Certificate of eligibility for security and order to perform security services and are only allowed to use security service personnel who have been trained and granted professional labor safety certificates.

3.2 Procedures after the enterprise is granted a license to provide security services

After establishing a security company, companies should follow the following procedures to ensure a successful start to their business:

Disclosure of company information:

Enterprises must carry out procedures to disclose business registration contents in accordance with regulations to avoid administrative penalties.

Enterprises must disclose business registration contents on the national electronic information portal within a maximum of 30 days from the date of being granted a Business Registration Certificate and pay all fees as prescribed.

The disclosed contents include: Business lines, fields of operation and List of founding shareholders, foreign investor shareholders of the joint stock company.

Security companies must purchase digital signatures:

Enterprises must register to purchase digital signatures online for tax calculation purposes and submit tax declarations online.

Enterprises need to request the bank to activate the tax payment feature for the enterprise’s bank account. The company’s accountant will use the purchased digital signature account to pay taxes online for the company in accordance with regulations.

Register to use accounting services or hire a private accountant: The security company will need to hire a tax accountant when establishing the company to perform tasks related to reporting, submitting tax declarations and paying taxes in accordance with the company’s regulations. However, if the enterprise wants to reduce costs, it can use Viet My’s general accounting service.

Carving the company seal and pasting the seal sample:

Carving the seal after having a tax code is an important task that enterprises cannot ignore. The company designs and carves the seal according to regulations, then carries out the procedure to announce the seal sample on the National Electronic Information Portal.

Contributing capital to a securities company:

• Companies can contribute capital in assets or cash. Assets are valued according to the company’s consensus.
• Members must contribute sufficient capital to the enterprise and the correct type of assets as prescribed when registering to establish the enterprise within 90 days from the date of issuance of the Enterprise Registration Certificate. Members of the company may only contribute capital to the company with assets other than the committed assets when approved by the majority of the remaining members.
• During this period, members have rights and obligations corresponding to the capital contribution ratio committed to provide.

4. Things to consider when setting up a security company

After registering your business, here are some tips to keep in mind:

• Hiring and training employees: Do a basic check on each person you are considering hiring. You should prioritize calm and decent people, as they will help develop your company’s image. It is important to hire people without criminal records. Some of your employees may carry guns, and it is important that your customers feel safe.
• Encourage employees to participate in professional development training: Some training courses will teach security personnel how to use batons, firearms, and professional security tools. Developing a knowledge base in law enforcement and security will help you a lot in the process of starting a business…
• Enhance your credibility when participating in auctions: Most companies require a security company to quote a price on the contract. Bidding is competitive because there are many security service companies like you. You need to prepare a good basis for bidding and enhance your company’s reputation.
• Buy insurance for employees: Buying insurance for employees is something you should do, because protecting customers cannot prevent collisions and injuries. In addition, this is also within the scope of law. And the authorities regularly check this issue.

The above article has provided readers with the most useful information about the experience of establishing a domestic and foreign capital security service company from conditions to procedures. Business owners can do the work themselves or, more simply, use the security service company establishment service of VIET MY LAW AND ACCOUNTING so that our lawyers can carry out all procedures on your behalf quickly and accurately.