Some things to note when changing a business name

Changing a business name opens up opportunities to reposition the brand and create a new impression with customers. This process requires careful legal and business strategy. Complying with regulations, preparing complete documents and taking steps after changing the name helps businesses avoid legal risks and take full advantage of the name change. Please read the following article by Long Phan for detailed instructions on the effective process of changing a business name according to regulations.

Some principles to keep in mind when naming a business

When changing a business name, following naming guidelines is an important first step. Ensure the new name is consistent with legal regulations and business strategy.

According to the Law on Enterprise 2020, the Vietnamese name of a business must include two elements: type of business and proper name. The type of enterprise is written in full or abbreviated according to regulations. Personal names are written in Vietnamese letters, the letters F, J, Z, W, numbers and symbols.

Enterprises need to avoid naming the same or causing confusion with the registered business name. Do not use the names of state agencies or socio-political organizations as personal names, unless approved. Avoid using words that violate cultural traditions and ethics.

The business name in a foreign language is a translation of the Vietnamese name, and can retain or translate the name’s meaning. Abbreviated names are abbreviated from Vietnamese names or foreign names.

When choosing a new name, businesses should consider brand recognition factors that are easy to remember and read. The name should reflect the field and business vision. Check carefully to avoid intellectual property conflicts.

Procedures for changing a business name

Profile components

The application for changing a business name needs to have all the required documents as prescribed. Careful preparation helps the approval process go quickly and smoothly.

According to Clause 1, Article 48 of Decree 01/2021/ND-CP, the dossier includes:

• Notice of change in business registration content signed by the legal representative of the enterprise. The form is specified in Appendix II-1, Circular No. 01/2021/TT-BKHDT;
• Resolutions, decisions and copies of meeting minutes of the Board of Members for limited liability companies with two or more members, partnerships, and of the General Meeting of Shareholders for joint stock companies; Resolutions and decisions of the company owner for a one-member limited liability company on changing a business name.

Businesses need to ensure that the information in records is accurate and consistent. The legal representative signs the relevant documents. Prepare copies of the attached documents for comparison when necessary.

Place to submit an application

Choosing the appropriate application submission method helps save time and effort for businesses. Currently, based on Article 48 of Decree 01/2021/ND-CP and Decision 885/QD-BKHDT, there are three application submission methods for businesses to choose from:

• Submit directly to the Business Registration Office – Business Registration Office where the enterprise is headquartered;
• Submit via postal service;
• Submit via an electronic information network.

Implementation steps

Pursuant to Article 48 of Decree 01/2021/ND-CP and Decision 885/QD-BKHDT, the steps to change the enterprise name are as follows:

In case businesses send documents directly or via postal service

Step 1: Enterprises send registration documents to change the business registration content to the Business Registration Office where the enterprise is headquartered.

Step 2: After receiving the business registration dossier, the Business Registration Office issues a Receipt, checks the validity of the dossier and issues a Business Registration Certificate to the business if the business name is registered. The change does not violate regulations on business naming.

In case of electronic registration using public digital signature:

Step 1: The applicant declares information, downloads electronic documents, signs and authenticates the business registration application via the electronic information network and pays business registration fees and charges according to the process on the portal. National news on business registration (https://dangkykinhdoanh.gov.vn).

Step 2: After completing the submission of the business registration application, the applicant will receive a receipt of the business registration application via the electronic information network.

Step 3: In case the application meets the conditions for business registration, the Business Registration Office shall issue business registration and notify the business of the business registration. In case the dossier does not meet the conditions for business registration, the Business Registration Office sends a notice via electronic information network to the enterprise to request amendments and supplements to the dossier.

In case of electronic registration using Business Registration Account:

Step 1: The applicant uses the business registration account to declare information, download electronic documents and authenticate the business registration application via the electronic information network and pay registration fees and charges. Register a business according to the process on the national business registration portal. In case of authorization to carry out business registration procedures via electronic information network using the business registration account, the authorization document must have contact information of the authorizer to authenticate the submission of registration documents to businesses through electronic information networks.

Step 2: After completing the submission of registration documents, the applicant will receive a Receipt of business registration documents via the electronic information network.

Step 3: The Business Registration Office issues business registration to the business in case the application is eligible and notifies the business about the issuance of business registration. In case the dossier does not meet the conditions, the Business Registration Office will send a notice via electronic information network to the enterprise to request amendments and supplements to the dossier.

Resolution time

Within 03 (three) working days from the date of receipt of complete and valid documents.

Important notes after changing a business name

After completing the name change procedure, the business needs to perform a number of important tasks. This ensures business operations run smoothly and comply with legal regulations.

The first thing is to adjust the information on the company charter. This ensures legality and consistency in the business’s internal documents.

Next, the business needs to change its seal to the new name. Although notification is not required, this helps build trust with partners and customers.

Businesses need to update bank account information. This ensures financial transactions go smoothly, avoiding confusion.

Notifying information changes to the social insurance agency is an important step to ensure the rights of employees. Businesses also need to change their company sign to the new name.

Finally, if a trademark is registered, the enterprise needs to carry out procedures to amend the information on the protection certificate. This protects a business’s intellectual property rights.

Consulting and support on changing the most standard business name in accordance with regulations at Long Phan

With extensive experience in the business field, Long Phan will provide comprehensive solutions, helping the process of changing your business name go smoothly and effectively. Long Phan always updates the latest legal regulations to ensure accurate advice is suitable for each business.

Services Long Phan provides related to changing a business names include:

• Consulting on regulations on how to name a business.
• Support in preparing name change documents.
• Instructions on the order and procedures for changing the business name.
• Representing the customer to change the business name.
• Support procedures after name change.

Changing a business name is an important step, requiring careful preparation and compliance with legal regulations. For customers please contact Long Phan immediately via hotline 0906735386 for detailed advice. Long Phan will support customers in successfully implementing the name change process, creating a solid foundation for the new development of the business.