Is it possible for replacement of owners of household businesses in Vietnam?

Is it possible for replacement of owners of household businesses in Vietnam?

Pursuant to Clause 3, Article 90 of Decree No. 01/2021/ND-CP, in case of replacement of the owner of the household business, the household business sends the application for changes to household business registration information to the district-level business registration authority where the household business is registered. The application includes the following documents:

a) The notification of replacement of the owner of the household business which bears the signatures of the old owner and the new older, or which bears the signature of the new owner in case of replacement of the owner of the household business due to inheritance;

b) A sale contract or documents proving completion of the sale of the household business; donation contract; copy of the certificate of the inheritor’s lawful right to inheritance in case of replacement of the owner of the household business due to inheritance;

c) The copy of the minutes of meeting of family household members on replacement of the owner of the household business if the household business is established by family household members;

d) The copy of the letter of authorization made by the family household members to authorize a person to act as the owner of the household business in case the household business is established by family household members.

After the sale, donation or inheritance of the household business, the household business shall still be liable to debts and other asset-related liabilities incurred by the household business before the transfer of the household business, unless otherwise agreed upon by the household business, buyer, beneficiary, inheritor and creditors.

Thus, according to the above provisions in Vietnam, you have the right to change the owner of the household business that you are in. Dossier shall comply with the above provisions.

What are procedures for replacement of owners of the household businesses in Vietnam?

Pursuant to Clause 5 of Article 90 of Decree No. 01/2021/ND-CP, there are provisions as follows:

5. When receiving the application, the district-level business registration authority shall give a confirmation slip and issue the certificate of household business registration to the household business within 03 working days from the receipt of the valid application. If the application is not satisfactory, within 03 working days from the receipt of the application, the district-level business registration authority shall inform the household business of necessary revisions.

Within 03 working days from the issuance date of the certificate of business household registration, the business registration authority of the district to which the household business is relocated must send a notification to the business registration authority of the district where the business household was registered.

According to this Article, after submitting the application to change the owner of the household business, your application will be processed in the same order as above in Vietnam.

When replacement the owner of my household business, do I have to return certificate of household business registration in Vietnam? 

Pursuant to Clause 6 of Article 90 of Decree No. 01/2021/ND-CP has the following provisions:

6. When receiving a new certificate of household business registration in case of changes to household business registration information, the old certificate must be returned.

Thus, after completing the change of owners of household businesses in Vietnam, you must return the old certificate of household business registration.

Best Regards!