What is online enterprise registration in Vietnam? What does online application for enterprise registration in Vietnam comprise?

1. What is online enterprise registration in Vietnam?

In Article 42 of Decree 01/2021/ND-CP stipulating online enterprise registration in Vietnam, according to which:

1. Online enterprise registration means the application for enterprise registration which is submitted by the enterprise or its founder via the National Business Registration Portal. Applicants are entitled to use digital signatures in accordance with regulations of the Law on electronic transactions or business registration accounts to apply for enterprise registration online.

2. The business registration account is defined in Clause 4 Article 26 of the Law on enterprises and used for authentication of an online application for enterprise registration in case the person competent to sign the application form for enterprise registration does not use a digital signature. Business registration accounts are created from the National Enterprise Registration Information System and issued to individuals to apply for enterprise registration online. Individuals shall access the National Business Registration Portal for providing information and creating business registration accounts. Personal information provided by the applicant on the National Business Registration Portal for granting a business registration account must be adequate and accurate as that in his/her legal documents and ensure the authentication of the applicant by the National Enterprise Registration Information System.

3. A business registration account shall be issued to an individual only. The individual issued with the business registration account shall assume legal responsibility for the accuracy and legitimacy of his/her provided information and the use of this business registration account.

4. The Business Registration Office shall enable all entities to search information and apply for enterprise registration online.

2. What does online application for enterprise registration in Vietnam comprise?

According to Article 43 of Decree 01/2021/ND-CP stipulating online application for enterprise registration in Vietnam, as follows:

1. An online application for enterprise registration shall contain the information prescribed in this Decree and shown in the form of an electronic document. An online application for enterprise registration shall have the same legal validity as a physical one.

2. Electronic document is a document in the data form created or digitalized from the paper document, which contains the exact and complete information on the paper document. The electronic document is in the .doc, .docx or .pdf format.

3. An online application for enterprise registration shall be accepted if it meets all of the following requirements:

a) There are sufficient electronic documents with complete contents as paper documents. Names of electronic documents must be relevant to names of paper documents. The person competent to sign the application form for enterprise registration, members, founding shareholders, shareholders that are foreign investors or other individuals that sign documents included in the application for enterprise registration may use digital signatures to sign electronic documents or append their signatures to paper documents which then shall be scanned in the formats prescribed in Clause 2 of this Article;

b) Enterprise registration information provided on the National Business Registration Portal must be adequate and accurate as that in paper documents, and includes information about telephone number and email address of the applicant;

c) An online application for enterprise registration must be authenticated with public digital signature or business registration account of the person competent to sign the application form for enterprise registration or his/her authorized person. In case of authorization to following procedures for enterprise registration, the application for enterprise registration must include the documents specified in Article 12 hereof. <0}

4. The enterprise is required to revise/complete its online application for enterprise registration within 60 days from the date on which the Business Registration Office gives a notification of necessary revisions. Over the abovementioned deadline, if the enterprise fails to complete its online application for enterprise registration as requested, the Business Registration Office shall cancel the received application according to the process on the National Enterprise Registration Information System.

Best Regards!