Business in Vietnam: How to register a Limited Liability Company?

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Limited Liability Company, is the best corporate structure to start your own business in Vietnam. It can be registered with minimum one members and maximum fifty members.

The Limited Liability Company is juristic, and the liability of members is limited to their shares. The Limited Liability Company for foreign investor can be registered within 28 working days. Approximate every year, more than 200,000 companies registered in Vietnam. Within this article, we mentioned about a Limited Liability Company registration package, offered by  Global Business Service (GBS) – a business and legal services company in Vietnam.

Package Inclusions

  • Name Reservation
  • Investment Registration Certificate (IRC)
  • Enterprise Registration Certificate (ERC)
  • Publishing the company information in the National Business Registration Portal, securing the seal of the company and publishing the seal sample in the National Business Registration Portal
  • Company’s Tax Code

Advantages of Private Limited Company Registration

Limited Liability
Liability of Members of the private limited company is limited to their shares. It means that if the company suffers from any loss and faces financial distress because of primary business activity, the personal assets of shareholders/Members will not be at risk of being seized by banks, creditors, and government.

Continuity of Existence
The life of a business is not affected by the status of shareholders and even after the death of the shareholder, the private limited company continues to exist.

Scope of Expansion
The Scope of expansion is higher because easy to raise capital from a venture capitalist, angel investor, financial institutions and the advantage of limited liability. The private limited offer more transparency in the company.

Brand Value
Liability of Members and Directors of the private limited company is limited to their shares. It means that if the company suffers from any loss and faces financial distress because of primary business activity, the personal assets of shareholders/Members/Directors will not be at risk of being seized by banks, creditors, and government.

Valuation and Customer
The valuation is an important aspect of the company and high valuation comes from loyal customers. You should work on a business model with a higher lifetime value of a customer; Entrepreneur should focus on higher assessment of the company by offering the unique value proposition to the customer’s life.

Company Registration Process

1. Pre-licensing

  • Meet Department of Planning and Investment (DPI): GBS will help you to arrange a meeting with the DPI to be advised about documents required for the appraisal of the company or you just communicate with GBS’ lawyer via: Email: info@gbs.com.vn of Whatsapp | Viber | Hotline: +84903189033 from anywhere in the world.
  • Obtain certified copies of foreign documents: GBS helps you to prepare a list of required legal documents
  • Obtain consular legalized copies of foreign documents: Required legal documents will be legalized with simple process in your country
  • Obtain certified translation of documents: Required legal documents must be translated into Vietnamese
  • Obtain authenticated copies of passports or Vietnamese ID cards
  • Sign contract on office lease

2. Company incorporation

  • Obtain Investment Registration Certificate (IRC): GBS will draft the application form for the IRC; Charter of the Company; Outline of the Feasibility Study for the establishment of the Company and submit to the DPI, verify the status of the application and collect IRC the on your behalf
  • Obtain authenticated copies
  • Obtain Enterprise Registration Certificate (ERC): GBS will draft the application form for the ERC and submit to the DPI and collect ERC the on your behalf
  • Make seal and notify seal specimen: GBS will support you to make to company seal and obtain notification of seal specimen publishing
  • Obtain certificate of tax registration

3. Post licensing

  • Open bank account
  • Publish in National Business Registration Portal

Documents Required

For corporate investors:

  • Legalized/Certificated copies of Passport from Directors and Shareholders
  • Legalized copy of latest Certificate of Incorporation/License,  Legalized copy of latest Charter/ Memorandum of Articles showing the full information of company (such as: business lines, registered address, director(s), shareholder(s) etc…
  • Latest financial report of two years or bank balance
  • Rent Agreement from Owner/Landlord

For individual investors:

  • Latest Bank Statement
  • Legalized/Certificate copies of Passport from Directors
  • Rent Agreement from Owner/Landlord

Contact

  • Email: info@gbs.com.vn
  • iMessage | SMS | Whatsapp | Viber | Call: +84903189033 or visit the GBS’s website at: https://gbs.com.vn