Instructions for registering to establish a debt trading service company

Article overview

Registering to establish a debt trading service company is currently carried out like other normal service businesses. This means there is no need to meet conditional business conditions as before. However, to ensure that debt trading activities take place smoothly and legally, customers need to clearly understand the regulations and procedures for registering a company. The article below will provide detailed instructions on this process.

Register to establish a debt trading service company
Register to establish a debt trading service company

Conditions for establishing a debt trading service company

The establishment of a debt trading service company must comply with the general provisions of the Law on Enterprise 2020 regarding the following conditions:

Charter capital:

The Law on Enterprise 2020 does not stipulate a minimum capital level to establish a debt trading service company. The company can freely decide on its charter capital based on its scale and business plan. However, it should be noted that the charter capital must be fully contributed within 90 days from the date of issuance of the Business Registration Certificate.

Conditions for establishment entity:

According to Article 17 of the Law on Enterprise 2020, all organizations and individuals have the right to establish companies, except in the following cases:

  • The organization does not have legal status.
  • People under 18 years old, without full civil act capacity.
  • State agencies and units of the people’s armed forces use state assets for business purposes.
  • Cadres, civil servants, civil servants, officers, professional soldiers,… according to the provisions of law.
  • People who are being prosecuted for criminal liability, are detained, are serving prison sentences, are serving administrative measures at compulsory detoxification facilities, compulsory education establishments or are being banned by the Court holding positions, prohibited from practicing certain professions or doing certain jobs
  • Organizations that are commercial legal entities are prohibited from doing business or operating in certain fields according to regulations.

Conditions for business lines:

The company registered the business line “debt trading services” in accordance with the Vietnamese economic industry code system.

Conditions for business name:

The company name must comply with the provisions of Article 37 of the Law on Enterprise 2020, including:

  • Type of business (Limited Company, Joint Stock Company…).
  • Personal name (not identical or confusing with other business names, not using the names of state agencies, political organizations…).

Conditions for headquarters:

The company headquarters must be located in Vietnamese territory, with a clear address, phone number, fax, email (if any).

Conditions for legal representatives:

  • The legal representative of the enterprise must be an individual, at least 18 years old, have full capacity for civil acts, and must not be prohibited from managing and establishing an enterprise. Must be a capital contributor in the company.
  • The legal representative of the business can be a Vietnamese or a foreigner
  • If the enterprise hires a legal representative, there must be a labor contract and appointment decision.
  • LLCs and joint stock companies may have one or more legal representatives.

Procedures for registering to establish a debt trading service company

Prepare documents

Registration documents to establish a debt trading service company include:

  • Application for business registration;
  • Company charter;
  • List of members/shareholders;
  • Certified copy of CCCD of members/shareholders and legal representatives;
  • Legal documents of the individual who is the authorized representative (if any);
  • Investment registration certificate in case the enterprise is established or participates in the establishment by foreign investors or economic organizations with foreign investment capital.
Registration dossier to establish a debt trading service company
Registration dossier to establish a debt trading service company

Registration process

The process of establishing a debt trading company includes the following steps:

Step 1: Submit application to establish a debt trading company

Applications can be submitted directly to the Business Registration Office under the Department of Planning and Investment where the company is headquartered.

Step 2: Receive, process documents and issue certificates

  • After receiving the business registration application, the Business Registration Office issues a Receipt of receipt of the application to the applicant.
  • After giving the receipt of receipt of the application, the Business Registration Office fully and accurately enters the information in the application, checks the validity of the application and downloads the digitized documents in the registration application. Register your business in the National Information System for Business Registration.
  • In case the dossier is not valid, the Business Registration Office will notify amendments and supplements within 03 working days from the date of receipt of the dossier.
  • The Business Registration Office issues the Business Registration Certificate within 03 working days from the date of receipt of valid documents.

Step 3: Announce business registration information

After receiving the Business Registration Certificate, the company publishes the business registration content on the National Business Registration Portal within 30 days.

Step 4: Engrave the company seal

The company seal must ensure the name and business code. After engraving the seal, the company publishes the seal sample on the National Business Registration Portal.

Step 5: Register a bank account

Registering a bank account helps companies conduct financial transactions conveniently.

Step 6: Make and hang company signs

After being established, a debt trading company needs to order and hang a company sign. The main information of the sign includes the company name, address and contact hotline number. Hang signs at the headquarters or branch offices in accordance with the provisions of law.

Step 7: Declare and pay taxes

The company needs to declare and pay taxes according to regulations, including value added tax, corporate income tax and license tax. However, license tax will be exempted for newly established businesses in the first year.

Step 8: Buy digital signature

Digital signatures are used to perform electronic transactions, such as paying taxes, declaring taxes online, and signing contracts.

Step 9: Complete the capital contribution to establish the company

Members/shareholders need to complete capital contribution within 90 days from the date of issuance of the Business Registration Certificate.

Note when establishing a debt trading service company

When establishing a debt trading service company, you should pay attention to the following issues:

  • Before establishing a company, carefully study the legal regulations on conditions for establishing a company and debt trading activities.
  • Based on the size, number of members, charter capital, customers need to choose the appropriate type of business (Limited Company, Joint Stock Company…).
  • Debt trading activities have many potential risks, so customers need to have a detailed business plan, carefully evaluate the market, competitors, capital sources…
  • After going into operation, the company needs to declare and pay full taxes according to state regulations.

Consulting services and guidance on establishing a debt trading service company

For detailed advice and support in establishing a debt trading service company quickly and effectively, customers can use Long Phan service. Our Services include:

  • Consulting on conditions for establishing a debt trading company;
  • Drafting company registration documents;
  • Instructions on the order and procedures for company registration;
  • Representing customers to quickly carry out company registration procedures;
  • Consulting on taxes, accounting, and corporate governance;
  • Consulting on charter capital and shareholder structure;
  • Support customers in carrying out procedures after establishing a company (seal engraving, information disclosure, tax registration,…);
  • Consulting and answering other issues related to debt trading service business.
Consulting on establishing a debt trading service company
Consulting on establishing a debt trading service company

Above are detailed instructions on conditions, procedures and notes when registering to establish a debt trading service company. Customers need to carefully study the regulations and take all steps to ensure the establishment process goes smoothly. If you need in-depth support, please contact the hotline: 0906735386 for advice.