Recording of business lines of artels, cooperatives and cooperative unions in Vietnam according to Decree 92/2024

Recording of business lines of artels, cooperatives and cooperative unions according to Decree 92/2024 (Image from the Internet)

1. Recording of business lines of artels, cooperatives and cooperative unions in Vietnam according to Decree 92/2024

The recording of business lines of artels, cooperatives and cooperative unions under Article 13 of Decree 92/2024/ND-CP is as follows:

- When registering for establishment or notifying changes in business lines, or when applying for a Certificate of Registration of the cooperation group, Certificate of Registration of the cooperative in accordance with Decree 92/2024/ND-CP, the founder of the cooperation group, cooperative, cooperative union, or the cooperation group, cooperative, cooperative union must choose the fourth-level economic sector in the Vietnam Economic Classification System to record the business lines in the registration dossier.

The district-level business registration authority shall guide, verify, and record the business lines of the cooperation group, cooperative, cooperative union in the Cooperative Registration Database.

- The specific content of the fourth-level economic sector provided 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 Vietnam Economic Classification System.

- For conditional business investment sectors stipulated in other legal documents, the business lines are recorded according to the provisions of those legal documents.

- For business lines not included in the Vietnam Economic Classification System but stipulated in other legal documents, the business lines are recorded according to the provisions of those legal documents.

- For business lines not included in the Vietnam Economic Classification System and not yet stipulated in other legal documents, the district-level business registration authority shall consider recording these business lines in the Cooperative Registration Database if they do not fall under prohibition categories of business investment, and simultaneously notify the Ministry of Planning and Investment to supplement the new business lines.

- If the cooperation group, cooperative, or cooperative union wishes to record more detailed business lines than a fourth-level economic sector, they shall choose a fourth-level economic sector in the Vietnam Economic Classification System, then record the detailed business lines immediately below the fourth-level economic sector, ensuring that the detailed business lines are consistent with the chosen fourth-level economic sector.

In this case, the business lines of the cooperation group, cooperative or cooperative union are the detailed recorded business lines.

- The recording of business lines as provided 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, in which the detailed business lines are recorded according to the provisions in specialized legal documents.

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

2. Regulations on the name of cooperatives, cooperative unions in Vietnam

Regulations on the name of cooperatives, cooperative unions in Vietnam under Article 15 of Decree 92/2024/ND-CP are as follows:

- Cooperatives, cooperative unions are not allowed to register names that are identical or cause confusion with the names of other cooperatives, cooperative unions that have been registered in the Cooperative Registration Database nationwide, except for cooperatives, cooperative unions that have dissolved or have a court decision declaring bankruptcy.

- The district-level business registration authority has the right to approve or reject the proposed names of cooperatives, cooperative unions according to the provisions of the law, and the decision of the district-level business registration authority is final. If dissatisfied with the decision of the district-level business registration authority, cooperatives, cooperative unions can file a lawsuit according to the provisions of the law on administrative litigation.

- Encouragement and facilitation are provided for cooperatives, cooperative unions with identical or confusing names to negotiate and register for name changes themselves.

- The names of cooperatives, cooperative unions must be written or attached at the headquarters, branches, representative offices, business locations of the cooperatives, cooperative unions; they must be printed or written on transaction documents, dossiers, and publications issued by the cooperatives, cooperative unions.

- In the case of having a foreign language name, the foreign language name of the cooperative, cooperative union must be printed or written in smaller letters than the Vietnamese name of the cooperative, cooperative union.

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