Establishing an accounting service company – Conditions and procedures

Accounting service company is a form of business that many accountants choose to develop their careers. However, to operate a legal accounting service business, businesses need to fully meet the prescribed conditions and follow the correct business registration procedures. The article below will provide detailed information about the conditions and procedures for establishing an accounting service company, along with related issues that customers need to pay attention to.

Conditions for opening an accounting service company

Pursuant to Article 59 of the Law on Accounting 2015, to open an accounting service company, it is necessary to meet the following conditions:

1. Regarding the type of business: an accounting service company can only be established in the following company form:

• LLC with 02 or more members;
• Partnership company;
• Private enterprise.

2. Have an accounting certificate or auditor certificate. The accountant or auditor meets the following conditions:

• Have civil act capacity;
• Have practical work experience in finance, accounting, and auditing for 36 months or more from the time of graduating from university;
• Fully participate in the knowledge update program as prescribed.

3. An accounting service business enterprise is not allowed to contribute capital to establish another accounting service business enterprise, except in the case of contributing capital with a foreign accounting service business enterprise to establish an accounting service business enterprise in Vietnam.

4. Foreign accounting service businesses conduct accounting service business in Vietnam in the following forms:

• Contributing capital to an accounting service business that has been established and operating in Vietnam to establish an accounting service business;
• Establishment of a branch of a foreign accounting service enterprise;
• Providing cross-border services according to Government regulations.

Conditions for issuance of certificate of eligibility to provide accounting services

According to the provisions of Article 60 of the Law Accounting 2015, to be granted a certificate of accounting service business, the following conditions must be met:

LLC with 02 or more members

For LLCs with two or more members, customers need to meet the following conditions:

• Have a Business Registration Certificate, Investment Registration Certificate or other documents of equivalent value;
• Have at least two capital contributing members who are practicing accountants;
• The legal representative, director or general director of the company must be a practicing accountant;
• Ensuring the capital contribution ratio of practicing accountants in the enterprise and the capital contribution ratio of organizational members according to Government regulations (Decree No. 130/2005/ND-CP).

Partnership company

For a partnership company, customers need to meet the following conditions:

• Have a Business Registration Certificate, Investment Registration Certificate or other documents of equivalent value;
• Have at least two partners who are practicing accountants;
• The legal representative, director or general director of the partnership must be a practicing accountant.

Private enterprise

For private enterprises, customers need to meet the following conditions:

• Have a Business Registration Certificate, Investment Registration Certificate or other documents of equivalent value;
• Have at least two practicing accountants;
• The owner of a private business is a practicing accountant and also the director.

Procedures for establishing an accounting service company

Procedures for establishing an accounting service company are carried out according to the provisions of Decree 01/2021/ND-CP on business registration as follows:

Prepare documents

Registration documents to establish an accounting service company include:

For private enterprises:

• Application for business registration;
• Copies of personal legal documents for private business owners.

For partnerships and limited liability companies with 2 or more members:

• Application for business registration;
• Company charter;
• List of members;
• Copies of legal documents of members of the partnership; Legal documents of the legal representative and member of the 02-member limited liability company;
• Legal documents for authorized representative and document appointing an authorized representative;
• Copy of Investment Registration Certificate in case the company is established by a foreign investor.

Implementation steps

To establish an accounting service company, you need to take the following steps:

Step 1: Submit application

Submit the application to the business registration office where the company is headquartered. Submit application through one of the following methods:

• Direct;
• By post;
• Through electronic information networks.

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.
• Next, the Business Registration Office enters the information in the business registration dossier, checks the validity of the dossier and uploads the digitized documents in the dossier into the National Business Registration Information System.

Step 3: Issue certificate

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

Step 4: Announce the business registration content

After being granted a business registration certificate, an enterprise must make a public announcement on the National Business Registration Portal within 30 days from the date of publication.

Consulting services and guidance on establishing an accounting service company

To ensure complete and valid documents and a quick implementation process, customers can use Long Phan’s business establishment consulting and guidance services.

Our consulting services for establishing an accounting service company include:

• Consulting on choosing the appropriate type of business;
• Consulting on conditions for establishing an accounting service company;
• Drafting business registration documents;
• Instructions on the order and procedures for business registration;
• Consulting on conditions, documents, and procedures for applying for a certificate of eligibility to provide accounting services;
• Representing customers to register business establishment and apply for business licenses;
• Consulting on tasks and procedures that need to be carried out after registering to establish a business;
• Consulting and answering other issues related to establishing an accounting service company.

Establishing an accounting service company requires customers to carefully learn about the conditions, procedures and related regulations. Hopefully the above article has provided useful information for customers. For detailed advice and in-depth support, please contact Long Phan via the hotline: 0906735386.