One Person Limited Company, its modern proprietorship firm. One Person Company can be formed by a single person. The One person company is juristic, and liability of members is limited to their shares.
The One Person Limited Company gives a single director to enjoy full control over the business. It can be converted into a private limited company or public limited company at anytime. According to GBS, a company formation services agency, approximate every year, more than 200,000 companies registered in Vietnam.
- Name Reservation
- Investment Registration Certificate (IRC)
- Company Registration Certificate (CRC)
- Company’s Seal and Seal Registration Certificate
- Company’s Tax Code
Advantages of One Person Limited Company Registration
Director of the One Person 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 Director 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 shareholder and even after the death of the shareholder, the One Person 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.
Company’s brand value will get increased because employees feel secure in joining the One Person Limited Company, vendor feels secure in offering credit, investor feels secure in investing, the customer feels trust and confidence in brand in buying company product/services because of a sound corporate structure.
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
- 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’s lawyer via: Email: email@example.com or 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 Company Registration Certificate (CRC): GBS will draft the application form for the Company Registration Certificate and submit to the DPI and collect the certificate 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
For corporate investor:
- Certificate of incorporation (an authentic copy) or certificate of business registration or equivalent documents
- Latest audited financial report (an authentic copy)
- Legalized copies of Passport from Director and Shareholder
For individual investor:
- Latest Bank Statement (an authentic copy)
- Legalized copies of Passport from Director
For Proposed Registered Address (Residential/Commercial): Rent Agreement from Owner/Landlord