Vietnam: Enterprises may perform several procedures at the same time from October 10, 2018

11:30, 05/09/2018

In recent years, on business forums, there have been many opinions about simplifying business registration procedures to reduce waste of time and improve efficiency in State management. Decree No. 108/2018/NĐ-CP of Vietnam’s Government was issued as a necessity to meet the above needs.

Decree No. 108/2018/NĐ-CP of Vietnam’s Government allows enterprises to perform several procedures at the same time when converting their business type. Specifically, the enterprise may register conversion of an enterprise and register changes of enterprise registration information or notification of other enterprise registration information, except registration of change of the legal representative.

In addition to the familiar cases of converting business types such as conversion of a single member limited company into a multi-member limited liability company and vice versa; conversion of a private enterprise into a limited liability company; conversion of a limited liability company into a joint-stock company and vice versa, new regulations allow conversion from household businesses to other types of businesses such as private enterprises, limited liability companies, and joint-stock companies.

Decree No. 108/2018/NĐ-CP stipulates that the establishment of an enterprise on the basis of conversion from a business household shall be registered at the Business Registration Office of the area where the enterprise’s headquarters is located.

View more details at Decree No. 108/2018/NĐ-CP of Vietnam’s Government, effective from October 10, 2018.

-Thanh Lam-

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