Instructions for recording business lines of artels, cooperatives and cooperative unions in Vietnam

Instructions for recording business lines of artels, cooperatives and cooperative unions in Vietnam

The recording of business lines for artels, cooperatives and cooperative unions in Vietnam according to Decree 92/2024/ND-CP is as follows:

- When registering for establishment or notifying of changes in business lines or when requesting the issuance of a Certificate of Registration for a artel or the Certificate of Registration for a cooperative in accordance with Decree 92/2024/ND-CP, the founder of the artel, cooperative, or cooperative union, or the artel, cooperative, or cooperative union selects a four-digit economic sector in the Vietnamese Standard Industrial Classification System to record the business lines in the registration dossier.

The district-level business registration authority provides guidance, reviews, and records the business lines of the artel, cooperative, or cooperative union into the Cooperative Registration Database.

- The specific content of the four-digit economic sector specified in Clause 1, Article 13 of Decree 92/2024/ND-CP is implemented according to the Decision of the Prime Minister of the Government of Vietnam promulgating the Vietnamese Standard Industrial Classification System.

- For conditional business sectors defined in other legislative documents, the business lines are recorded according to the sectors specified in those legislative documents.

- For business sectors not included in the Vietnamese Standard Industrial Classification System but are defined in other legislative documents, the business lines are recorded according to the sectors specified in those legislative documents.

- For business sectors not included in the Vietnamese Standard Industrial Classification System and not yet defined in other legislative documents, the district-level business registration authority will consider recording these business lines into the Cooperative Registration Database if they do not fall under prohibited business sectors, and concurrently notify the Ministry of Planning and Investment to supplement the new business lines.

- If a artel, cooperative, or cooperative union wishes to record business lines in more detail than the four-digit economic sector, it may select a four-digit economic sector in the Vietnamese Standard Industrial Classification System and then record the detailed business lines immediately below the selected four-digit economic sector, ensuring that the detailed business lines of the artel, cooperative, or cooperative union align with the selected four-digit economic sector. In this case, the business lines of the artel, cooperative, or cooperative union are the detailed business lines recorded.

- The recording of business lines stipulated in Clauses 3 and 4, Article 13 of Decree 92/2024/ND-CP is implemented according to Clause 6, Article 13 of Decree 92/2024/ND-CP, where detailed business lines are recorded in accordance with the sectors specified in specialized legislative documents.

- The recording of business lines for branches and business locations of cooperatives and cooperative unions is implemented according to Clauses 1, 2, 3, 4, 5, 6, and 7 of Article 13 of Decree 92/2024/ND-CP.

More details can be found in Decree 92/2024/ND-CP which comes into force in Vietnam from July 18, 2024.

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