Procedures for establishing a limited liability company according to the law

Establishing a limited liability company needs to be done correctly to ensure legal and effective business operations. Choosing the type of LLC, preparing documents, submitting documents and performing post-establishment procedures all play an important role in this process. The article below will provide customers with detailed information about the process of establishing a limited liability company, helping customers clearly understand and comply with regulations.

When to choose a single-member limited liability company or a two-member limited liability company?

Choosing the type of single-member limited liability company or limited liability company with 2 or more members depends on the needs and business goals of customers.

• A single-member LLC is suitable for individuals or organizations who want to manage and operate the business themselves, with limited liability within the amount of capital contributed. This type brings flexibility and initiative in decision making, but also has limitations in raising capital.
• A limited liability company with two or more members is suitable for groups of individuals or organizations that want to cooperate in business, taking advantage of the capital and experience of each member. However, management and decision making can be more complicated due to the participation of many members.

To make the appropriate decision, customers need to carefully consider business scale, capital needs, management ability and desire for business control.

Documents to establish a limited liability company

One-member limited liability company

According to Article 24 of Decree 01/2021/ND-CP, business registration documents for a one-member limited liability company include:

1. Application for business registration;
2. Company charter;
3. Copies of the following documents:

• Legal documents of the individual for the legal representative of the business;
• Legal documents of individuals or organizations for company owners;
• Legal documents of the individual for the authorized representative (if any) and authorization document;
• For company owners who are foreign organizations, copies of the organization’s legal documents must be consular legalized;
• Investment registration certificate (if the enterprise is established by a foreign investor).

LLC with 02 or more members

Also according to Article 23 of Decree 01/2021/ND-CP, business registration documents for limited liability companies with two or more members include:

1. Application for business registration.
2. Company charter.
3. List of members.
4. Copies of the following documents:

• Legal documents of the individual for the legal representative of the enterprise.
• Legal documents of individuals or organizations for company members.
• Legal documents of the individual for the authorized representative of the organizational member and the document appointing the authorized representative (if any).
• Investment registration certificate in case the enterprise is established by a foreign investor (if any).

Order and procedures for establishing a limited liability company

To establish a limited liability company, you need to take the following steps:

Step 1: Submit application

Businesses can submit applications in the following two forms:

• Submit the application directly to the Business Registration Office – Department of Planning & Investment in the province or city where the business is headquartered.
• Submit an online application at: https://dangkykinhdoanh.gov.vn/ through a business registration account or public digital signature.

Step 2: Receive and process documents

• After receiving the business registration application, the Business Registration Office issues a Receipt of receipt of the application to the applicant.
• After issuing the Receipt of receipt of the dossier, the Business Registration Office shall enter complete and accurate information in the business registration dossier, check the validity of the dossier and upload the digitized documents in the business registration dossier into the National Business Registration Information System.
• In case the dossier is not valid, the Business Registration Office must notify in writing the content that needs to be amended or supplemented to the business founder or enterprise within 03 working days from the date of receipt of the dossier.

Step 3: Get results

The Business Registration Office issues the Business Registration Certificate within 03 working days from the date of receipt of valid documents.

>>>See more: Procedures for registering to establish a branch of a LLC.

Tasks to do after establishing a limited liability company

After completing the procedures for establishing a limited liability company and being granted a Business Registration Certificate, customers need to do the following:

• Announcement of business registration contents;
• Engraved seal;
• Submit initial tax return;
• Open a bank account;
• Buy digital signature;
• Hang company signs;
• Carry out invoice issuance procedures;
• Complete the conditions of the conN license (if any);
• Fulfill tax obligations according to the provisions of law.

Consulting and support services for fast and reputable LLC establishment

Long Phan provides consulting and support services for establishing a professional limited liability company, quickly and effectively. Our services include:

• Consulting on choosing the appropriate type of business.
• Consulting on conditions for establishing a limited liability company.
• Draft complete and accurate company establishment documents.
• Instructions on the order and procedures for establishing a limited liability company.
• Representing customers to submit applications and work with state agencies.
• Support in implementing post-establishment procedures.
• Consulting and answering questions during the process of establishing a limited liability company.

Establishing a limited liability company legally is an important first step for all business activities. Hopefully the above article has provided customers with useful information about procedures for establishing a limited liability company. If you have any questions, please contact Long Phan via the hotline: 0906735386 for advice and support.