Conditions for implementing securities business companies in Vietnam

Hello, Lawnet would like to answer as follows:

1. Conditions for implementing securities business companies in Vietnam

Currently, securities investment is a field that attracts quite a lot of investors because of the profit that this industry brings. Since then, securities companies have also been established at a significant speed.

The conditions for the establishment of securities business are as follows:

- Securities company, Securities Investment Fund Management Company, was granted and operated by the State Securities Commission before January 1, 2021 to meet the provisions of Clause 1, Article 135 of the Law on Securities 2019.

- Enterprise registration documents are received to enter information in the national information system on enterprise registration when there are all the following conditions:

+ There are sufficient papers as prescribed in Decree 01/2021/ND-CP;

+ Having the contact address of the person who submits the enterprise registration dossier;

+ Paying enough enterprise registration fees as prescribed.

- Business registration dossier via electronic network is approved when there are all the following requirements:

+ There are all papers, and the content of such papers is fully declared as prescribed in the paperwork and is shown in the form of electronic text. The electronic text name must be placed next to the name of the paperwork in the paper. The person competent to sign a written request for business registration, a member, founding shareholders, shareholders who are foreign investors, or other individuals signed in the business registration file can use digital signatures to sign directly on electronic documents or directly sign on paper documents and scan paper documents according to the formats specified in Clause 2, Article 43 of Decree 01/2021/ND-CP;

+ Enterprise registration information shall be declared on the national information portal; enterprise registration must be complete and accurate according to the information in the records with paper copies; There is information about the phone number and email of the applicant;

+ Business registration dossier online electronic information must be verified by digital signatures or business registration accounts of the competent person to sign a written request for business registration or the person who is signed by the competent person to request an authorized enterprise registration to carry out the procedures for enterprise registration. In cases of authorization to carry out business registration procedures, together with the enterprise registration dossier, the papers and documents must be specified in Article 12 of Decree 01/2021/ND-CP.

- Enterprises are not required to stamp the request for enterprise registration in the enterprise registration dossier. The seal for other documents in the enterprise registration dossier complies with the relevant law.

Implementation agency: Business Registration Office - Department of Planning and Investment.

Subjects carrying out procedures: individuals and organizations.

Procedure results: Enterprise registration certificate, branch registration certificate.

2. Composition of application for the establishment of securities business company in Vietnam

- Document establishing securities business:

+ A written request for addition and update of enterprise registration information or written request for addition and update of branch registration information;

+ Copy of establishment and operation license;

+ Copy of tax registration certificate.

- The person competent to sign a written request for business registration may authorize other organizations and individuals to carry out the business registration procedure in accordance with the following provisions:

+ In case of authorization for individual registration procedures attached to the enterprise registration dossier, there must be a written authorization for individuals to carry out procedures related to the enterprise registration and a copy of the authorized legal document. This authorization document is not required to be notarized and authenticated.

+ In case of authorization for the implementation of business registration procedures, attached to the enterprise registration dossier, there must be a copy of the service provider's agreement with the service organization to carry out the procedures related to the business registration, the organization's introduction letter to individuals directly carrying out procedures related to the business registration, and a copy of the legal document of the individual person introduced.

+ In case of authorization for the public postal service provider to carry out the business registration procedure, the postal staff must submit a copy of the form to send the form according to the form provided by the public postal service provider with the signature of the postal staff and the competent person signing a written request for business registration.

+ In case of authorization to the postal service provider, non-public postal post, the business registration procedure is carried out, and the authorization is as authorized as an authorization for the organization.

- Number of documents: 01 set.

- Time limit for settlement: Within 03 (three) working days from the date of receiving a complete and valid dossier.

- Fees and charges:

+ Direct: fee: 50,000 VND.

The person who establishes an enterprise or the authorized person to register a business with the business registration agency in the following method:

++ Enterprise registration directly at the business registration agency;

++ Business registration fee: VND 50,000/time.

++ Applicants of enterprises registration fees to pay enterprise registration fees at the time of submission of enterprise registration dossiers. The business registration fee may be submitted directly to the Business Registration office, transferred to the account of the Business Registration Office or used using electronic payment services. The enterprise registration fee is not refunded to enterprises in the event that the enterprise is not granted a business registration.

+ Online: fee: 0 dong.

++ Exemption of fee for cases of registration via electronic network.

++ Applicants of enterprises registration fees to pay enterprise registration fees at the time of submission of enterprise registration dossiers. The business registration fee may be submitted directly to the Business Registration office, transferred to the account of the Business Registration Office or using electronic payment services. The enterprise registration fee is not refunded to enterprises in case the enterprise is not granted a business registration.

+ Postal service: fee: VND 50,000.

  The person who establishes an enterprise or the authorized person to register a business with the business registration agency in the following manner:

++ Enterprise registration directly at the business registration agency;

++ Business registration fee: VND 50,000/time

++ Applicants of enterprises registration fees to pay enterprise registration fees at the time of submission of enterprise registration dossiers. The business registration fee may be submitted directly to the Business Registration Office or transferred to the account of the Business Registration Office or using electronic payment services. The enterprise registration fee is not refunded to enterprises in case the enterprise is not granted a business registration.

(Pursuant to Circular 47/2019/TT-BTC).

- Form name, declaration form:

+ Application for additional and updating enterprise registration information for enterprises operating under the establishment and securities business license.

Download sample: Download 

+ Application for additional and updating operational registration information for branches/representative offices/business locations of the enterprise operating under the establishment license and securities business/branch of foreign securities company/foreign fund management company in Vietnam.

Download sample: Download 

(Pursuant to Circular 01/2021/TT-BKHDT)

3. Order and how to establish a securities business in Vietnam

(1) The order to establish securities trading companies

- In case of direct registration or postal service:

+ Within 2 years from January 1, 2021, for securities companies, the Securities Investment Fund Management Company has been granted and operated by the State Securities Commission before January 1, 2021 that meet the provisions of Clause 1, Article 135 of the Law on Securities 2019 shall carry out business registration and branch operation registration at the business registration office where the company's headquarters is located.

+ When receiving the dossier, the Business Registration Office reviews and issues the business registration certificate.

- In case of registration via electronic network using public digital signatures:

+ Applicants of information declaration, download electronic documents, sign the enterprise registration dossier via electronic information network, and pay fees for enterprise registration according to the process on the national information portal on business registration (https://dangkykinhdoanh.gov.vn).

+ After completing the submission of enterprise registration, the applicant will receive a receipt for the business registration dossier via the website.

+ In case the dossier is eligible for enterprise registration, the Business Registration Office shall issue the enterprise registration and notify the enterprise of the grant of enterprise registration. In the event that the dossier is not eligible for enterprise registration, the business registration office sends a notice via the network to the enterprise to request the amendment and supplementation of the dossier.

- In case of registration via electronic network using business registration accounts:

+ Applicants using business registration accounts to declare information, download electronic documents, and sign the enterprise registration records via the electronic information network and pay for enterprise registration fees and fees according to the process on the national information portal on enterprise registration (https://dangkykinhdoanh.gov.vn). In cases of authorization to carry out business registration procedures online on websites using a business registration account, the authorization document must have the contact information of the authorized person to verify the application for business registration online.

+ After completing the registration dossier, the applicant will receive a certificate of business registration via the electronic information network.

+ Business registration office issues enterprises for enterprises in case the dossier is eligible and notifies the enterprise of the grant of enterprise registration. In case the dossier is not eligible, the Business Registration Office shall send notifications via the website network to the business to request the amendment and supplement of the records.

(2) How to establish a securities business

The person who establishes an enterprise or the authorized person to register a business with the business registration agency in the following method:

- Registering enterprises directly at the Business Registration Office;

- Registering enterprises via postal services;

- Registering business online.

(Pursuant to Decision 885/QD-BKHDT)

Best regards!

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