The Law on Enterprises of 2014 aims to better align with the current realities of enterprises, create a more favorable business environment, and address some difficulties, remaining issues, and limitations in the business status of enterprises.
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Enterprise Law 2014 came into effect on July 1, 2015. Businesses should be well aware of the differences between the old and new laws to take appropriate steps to comply with legal regulations while also taking advantage of allowable legal incentives for application and development.
Here are the key points to note:
Business lines will no longer be on the enterprise's business registration certificate.
However, this issue essentially means that the state wants to reduce the documents concerning enterprise information, including information on the registration of business lines of enterprises. Therefore, when registering an enterprise, business lines still need to be registered in the future (expected), and when there is a change in business lines, procedures for conversion are still required.
Enterprises are required to publish on the National Business Registration Portal
After enterprises are granted business registration certificates or there are changes in business registration, apart from traditional methods of publication such as print and electronic newspapers, enterprises are required to publish on the National Business Registration Portal.
Separation of investment registration certificate and business registration certificate
For foreign enterprises wishing to operate in Vietnam, when establishing an enterprise, the investment certificate will not replace the business registration certificate according to Clause 1, Article 22 of the Investment Law 2014 and Articles 21, 22, and 23 of Enterprise Law 2014).
Source: Luathongduc.com
