Establishing a new business – Some notes
1. Business name:
The business name must be in Vietnamese has a meaning, can be pronounced, does not take place names, history and conforms to Vietnamese fine customs and traditions.
Name of dn in foreign language: must be translated exactly from Vietnamese name.
Abbreviated names: are taken from the proper names or characters from the above 2 parts.
2. Charter capital:
Enterprises self-declared charter capital, no need to prove capital for business lines that do not need legal capital.
3. Business lines:
The enterprise clearly states the lines of business and products being traded.
The group of manufacturing and printing industries as prescribed does not operate in concentrated residential areas (inner city).
Groups of industries that need a practicing certificate: according to the regulations of each group of industries specified in the Laws on specialized management
4. Characteristics of common types of businesses:
A sole proprietorship is an enterprise owned by an individual and is solely responsible for all his/her assets for all activities of the enterprise;
Private enterprises may not issue securities of any kind;
Each individual is only entitled to establish a private enterprise;
The Owner of a Private Business has the right to transfer and lease his Business;
The sole proprietorship has unlimited liability for the business owner’s assets.
There must be at least 02 members who are jointly owned by the Company, called general partners; in addition, there are members contributing capital;
General partners must be individuals and are responsible for all of their assets for the obligations of the Company;
Capital-contributing members are only responsible for their contributed capital at the Company for the obligations of the Company;
One member limited liability company:
Owned by an organization or individual and is responsible for the amount of charter capital at the Company;
One member limited liability companies may not issue securities;
A one-member limited liability company can be converted into a limited liability company with two or more members by receiving more members when the company owner transfers part of his capital or increasing charter capital when receiving more contributed capital. of new members to the Company.
Limited liability company with two or more members:
Members are organizations or individuals, but the number of members does not exceed 50;
Members are only responsible for the capital contributed to the Company;
The member’s capital contribution is only freely transferable when it meets the prescribed conditions;
Joint Stock Company:
Charter capital is divided into equal parts called shares;
Shareholders are organizations or individuals, the minimum number is 03 and the maximum number is not limited;
Shareholders are responsible for their capital contribution to the Company;
Shareholders have the right to freely transfer their shares to others (except for cases of conditional and non-transferable transfer);
Joint-stock companies have the right to issue securities to raise capital;
Please contact a lawyer of Inco Minh Anh law firm for advice