LEGAL PROCEDURE FOR CHANGING REGISTERED ENTERPRISE'S BUSINESS LINE

Do you want to change your company's business line but don't know how? Let's learn about this procedure with LVI Law Firm

Legal grounds

• Law No. 59/2020/QH14 on Enterprise;

• Government’s Decree No. 01/2021/ND-CP on enterprise registration;

• Circular No. 01/2021/TT-BKHDTguidance on enterprise registration;

• Circular No. 47/2019/TT/BTC on amounts, collection, payment, management and use of fees for providing information about enterprises, charges for business registration.

1. Legal conditions for the business line

The business line must be within the boundary of Level 4 business lines prescribed in Vietnam Standard Industrial Classification.

Conditional business lines prescribed in other legislative documents shall be written accordingly to such legislative documents.

Business lines are not mentioned in Vietnam Standard Industrial Classification but prescribed in other legislative documents will be written as accordingly to such legislative documents.

For business lines are neither mentioned in Vietnam Standard Industrial Classification nor prescribed in other legislative documents, the business registration authority shall consider adding them to the National Enterprise Registration Database if they are not prohibited, and then request the Ministry of Planning and Investment (General Statistics Office of Vietnam) to consider adding them as new business lines.

2. Responsible body of authority

Provincial Business Registration Office where the enterprise is headquartered.

3. Required documents

A notification of changes to enterprise registration information signed by the enterprise legal representative (Appendix II-1 of Circular 01/2021/TT-BKHDT).

Depends on the form of enterprise, these additional documents are also required:

• The resolution or decision and the copy of the minutes of meeting of the Board of Members of the multi-member limited liability company.

• The resolution or decision and the copy of the minutes of meeting of the General Meeting of Shareholders of the joint-stock company.

• The resolution or decision of the owner of the single-member limited liability company on change of business lines.

4. Detailed legal procedure

Step 1: The enterprise prepare the required documents as mentioned above and submitted them either directly to the Business Registration Officein the province where the enterprise is headquartered or through National Enterprise Registration Portal, in maximum of 10 days on which the change occurs.

Step 2: Within 03 working days from the receipt of the application, the business registration authority shall consider the validity of the application and if succeed, Business Registration Office shall issue a certificate of changes to enterprise registration information to the enterprise at its request.

5. Fee

Business registration fee: 50.000 VND/registration;

Declaration of contents of enterprise registration: 100.000 VND/declaration​​​​​​​;

If you have any needs, please contact LVI Law Firm for advice and support.

Best regards.