Writing business lines in Vietnam

According to Article 7 of the Decree No. 01/2021/NĐ-CP of the Government of Vietnam, when applying for establishment of an enterprise, notifying changes of business lines, or applying for the enterprise registration certificate, the enterprise’s founder or the enterprise shall select the level-4 business lines in Vietnam Standard Industrial Classification and write them on the application for enterprise registration, notification of changes to enterprise registration, or application for the enterprise registration certificate. The business registration authority shall provide instructions, compare information, and enter the enterprise’s business lines into the National Enterprise Registration Database.

- Specific level-4 business lines prescribed in Clause 1 of this Article are specified in the Prime Minister’s decision.

- Conditional business lines prescribed in other legislative documents shall be written according to such legislative documents.

- Business lines that are not mentioned in Vietnam Standard Industrial Classification but prescribed in other legislative documents will be written according to such legislative documents.

- Business lines that are mentioned in neither Vietnam Standard Industrial Classification nor other legislative documents, the business registration authority shall consider adding them to the National Enterprise Registration Database if they are not prohibited, and then request the Ministry of Planning and Investment (General Statistics Office of Vietnam) to consider adding them as new business lines.

Note: In case an enterprise wishes to register more detailed business lines than level 4, it shall select a level 4 business line in Vietnam Standard Industrial Classification, then specify the enterprise's business lines right under the level-4 line, provided the detailed lines are appropriate for the selected level-4 line. In such case, the enterprise’s business lines are the detailed lines it specified.

- Specialized agencies are responsible for management of conditional business lines, business lines restricted to foreign investors, and inspection of enterprises’ fulfillment of conditions in accordance with regulations of specialized laws.

More details at the Decree No. 01/2021/NĐ-CP of the Government of Vietnam, effective from January 04, 2021.

Le Vy

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