According to Vietnamese law, enterprises are allowed to do business lines which are non-prohibited, and those must be shown on the Enterprise Registration Certificate. However, in the course of operation, enterprises can change business lines, supplement business lines on the Enterprise Registration Certificate in accordance with the development orientation. With many years of experience in advising enterprises, Hong Bang Law Firm would like to give advice on procedures for changing company’s business lines as follows:
Legal basis
- Vietnam’s law on enterprises 2020;
- Decree No. 01/2021/ND-CP on enterprise registration;
- Circular No. 01/2021/TT-BKHDT guidance on enterprise registration;
Cases that need to carry out procedures for changing business lines
- Add new business lines: This is a case where the enterprise wants to do more business lines recorded on the previous business registration certificate.
- Eliminate and decrease business lines: In some cases, if registering many business lines but not proceeding, it may be examined by specialized state management authorities or affect the general operation of the company. In this case, the enterprise procedures for withdrawing the business lines on the system.
- Edit details of business lines: For some business lines that are unclear, there is often the word “different” or “not yet classified” when writing the industry code will have to have details according to the level 5 of business lines. If it is not specified, it will have to add details.
Dossiers and time of implementation
Dossier
- A notification of changes to enterprise registration information which is signed by the enterprise’s legal representative;
- The resolution or decision and the copy of the minutes of meeting of the Board of Members of the multi-member limited liability company or partnership, or of the General Meeting of Shareholders of the joint-stock company, or the resolution or decision of the owner of the single-member limited liability company on change of business lines.
- Authorization letter (in case of authorizing others to carry out procedures for changing professions)
Competent authority: Provincial and municipal business registration offices where the enterprise is headquartered
Time: 3 working days (from the date of submission of valid applications)
Services of Hong Bang Law Firm
- Advise on the appropriate type of business for clients;
- Draft, prepare and check the validity of the dossier;
- Work with state authorities;
- On behalf of the customer to receive the results;
- Hand over the results to the customer.
If you need more detailed advice and answers as well as how to access this service, please contact directly our Lawyer Nhat Nam via hotline: 0912.35.65.75, 0912.35.53.53 or call the toll free legal consultation hotline 1900.6575 or send a service request via email: lienheluathongbang@gmail.com
Wishing you and your family good health, peace and success!
Best regards!
