Recently, the Government of Vietnam has issued the Decree No. 01/2021/NĐ-CP on enterprise registration, in which, there is specific guidelines on notification of addition/change of business lines in Vietnam.
Article table of contents
Basically, provisions on the notification of addition/change of business lines in Vietnam has not been changed much compared to the Decree No. 78/2015/NĐ-CP amended by the Decree No. 108/2018/NĐ-CP. In particular, according to Article 56 of the Decree No. 01/2021/NĐ-CP of the Government of Vietnam, in case of addition/change of business lines, the enterprise shall send a notification to the Business Registration Office of the province where it is headquartered. The application for enterprise registration shall include the following documents:
(1) A notification of changes to enterprise registration information which is signed by the enterprise’s legal representative;
(2) The resolution or decision and the copy of the minutes of meeting of the Board of Members of the multi-member limited liability company or partnership, or of the General Meeting of Shareholders of the joint-stock company, or the resolution or decision of the owner of the single-member limited liability company on change of business lines.
After receiving the application, the Business Registration Office shall give the confirmation slip to the enterprise, examine the validity of documents and market access conditions applied to foreign investors in accordance with regulations of the Law on investment, and update information about the enterprise’s business lines on the National Enterprise Registration Database. The Business Registration Office shall issue a certificate of changes to enterprise registration information to the enterprise at its request. (supplementing the content of examining the validity of documents and market access conditions applied to foreign investors compared to the old provisions)
Moreover, the Decree No. 01/2021/NĐ-CP no longer stipulates the time for supplementing the dossier and the time limit for notification of changes in business lines. Instead, the notification of addition/change of business lines is in accordance with general provisions of Article 31 of the Law on Enterprises 2020 of Vietnam on notification of changes to enterprise registration information. To be specific:
- The enterprise shall notify a change to enterprise registration information within 10 days from its occurrence;
- Within 03 working days from the receipt of the notification, the business registration authority shall consider its validity and decide whether to accept the change. The business registration authority shall inform the enterprise of necessary supplementation in writing if the application is invalid or inform the applicant and provide explanation if the change is not acceptable.
More details at the Decree No. 01/2021/NĐ-CP of the Government of Vietnam, effective from January 04, 2021.
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Hoa Hong
- Key word:
- Decree No. 01/2021/NĐ-CP
