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The business registration law in Vũng Tàu, Vietnam, is controlled by The Law on Enterprise (LOE) which provides guidelines for all types of business entities. The LOE encompasses the legal structures for business entities, company management, and the rights and obligations of each type of business enterprise. To set up a business in Vũng Tàu, business owners must submit an application for business registration to the Business Registration Office under the Department of Planning and Investment of Ba Ria-Vung Tau Province.
Business registration in Vũng Tàu requires a depth of knowledge in Vietnam's intricate legal landscape, local language proficiency, and adherence to company law which can be quite complex. A lawyer would help to understand these requirements, interpret legal statutes, prepare necessary legal documents, and ensure the application aligns with all regulations. In complex situations such as restructuring, merger, or foreign direct investment, legal expertise becomes essential to navigate the legal intricacies.
Primarily, the LOE lays the framework for setting up and managing a business, deciding the different legal forms of business, role and duties of managers, members or shareholders’ rights. Under Article 22 of LOE, the business registration certificate requires details like the business's name, registered office address, business lines, and charter capital. There are specific stipulations for foreign-owned companies, joint-stock companies, and partnerships. The Competition Law also plays a big role in M&A while the Investment Law governs foreign direct investment (FDI).
The business registration process in Vũng Tàu can take from 6 to 15 working days from the day all necessary documents are submitted, though it may vary depending on the type of business and its sector.
No. You can engage a lawyer or legal representative to help you with the process while you can stay oversees.
There is no minimum charter capital for most business lines, except for some conditional business lines such as real estate, banking, or education.
Yes, a foreigner can own 100% of a business in Vietnam, but it is subject to trade agreements between Vietnam and the foreigner’s country.
Foreign investors are prohibited or restricted in some business lines such as inspection and certification services, or services of travel agencies.
The standard corporate income tax rate is 20%. However, certain incentive tax rates and tax reduction are available subject to specific conditions.
Once the business registration certificate is issued, it doesn’t expire unless the company ceases operation or is legally terminated.
All documents submitted for business registration should be in Vietnamese. Translations may be attached, but the official documents should be in Vietnamese.
Yes. You can amend the business lines after you have registered your business. However, you will have to file an amendment with the Business Registration Office.
The name of the company must not be identical or confusingly similar to an already registered name. It is also prohibited to use names of national leaders, national holidays, or prohibited words.
For additional information, individuals can seek assistance from the Department of Planning and Investment of Ba Ria-Vung Tau Province, Vietnamese Ministry of Planning and Investment, or Chamber of Commerce and Industry. These authorities provide extensive resources and clarification on the business registration process and compliance requirements.
Should you seek legal assistance in business registration in Vũng Tàu, planning thoroughly ahead is vital. The first step is to hire a credible lawyer to guide you through the laws and regulations, document preparation and the overall process of business registration. All legal documents must be translated into Vietnamese, adequately filed, and submitted in due time to the Business Registration Office.
