Reducing Business Conditions for Enterprises Engaged in Sports Activities

Duy Thinh

09:57, 11/07/2024

This is a noteworthy item mentioned in the Law amending and supplementing a number of articles of the Law on Physical Training and Sports 2018, promulgated on June 14, 2018.

This Law abolishes the condition “having financial resources to ensure business operations” when establishing a sports business enterprise. Therefore, an enterprise wishing to operate a sports activity only needs to meet the following two conditions:

- Have a team of staff and personnel with expertise suitable for the content of the activity;- Have facilities and equipment that meet the requirements of sports activities.

Enterprises that meet the above conditions then prepare an application for a Business License to send to the Provincial People's Committee. The application includes:

- The application form for a Certificate of Business Eligibility;- A summary of the preparation of business conditions.

Within 07 days from the date of receipt of a valid application, the Provincial People's Committee shall conduct an inspection and issue a Certificate to the enterprise.

More details can be found in Law amending and supplementing a number of articles of the Law on Physical Training and Sports 2018.

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