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The pawnshop service business opens up attractive investment opportunities in the financial industry. Enterprises participating in this field need to master legal regulations to operate effectively and safely. In this article, Long Phan will analyze in detail the requirements, registration process and obligations of pawnshop businesses, helping you build a solid foundation for your business in this potential field.
Pawnshop service establishments must comply with the responsibilities prescribed in Article 29 of Decree 96/2016/ND-CP. In addition to the general responsibilities specified in Article 25 of this Decree, pawnshop businesses must also perform the following specific tasks:
According to Article 9 of Decree 96/2016/ND-CP (amended and supplemented by Decree 56/2023/ND-CP), pawnshop service establishments must meet general and specific conditions. as follows:
First, General Conditions:
1. Enterprises must be registered, licensed or established by Vietnamese law.
2. Persons responsible for security and order of business establishments do not fall into the following cases:
For Vietnamese people:
For Vietnamese residing abroad holding foreign passports and foreigners, a residence permit has not yet been granted by a competent Vietnamese agency.
3. In addition, businesses must also meet the conditions for fire prevention and fighting safety according to the provisions of the law on fire prevention and fighting.
Second, Special conditions:
During the 05 years immediately preceding the time of business registration, the person responsible for security and order of the pawn shop service establishment has not been sanctioned by the authorities for any of the following administrative violations: Behavior Resisting people on duty, disturbing public order, intentionally causing injury, lending at high interest rates, gambling, organizing gambling or gambling, theft of property, fraudulent appropriation of property, illegally occupying property.
Business establishments must be registered, licensed or established in accordance with Vietnamese law, specifically the Law on Enterprise 2020 and its guiding documents. Pawnshop service business entities can do business in the form of enterprises or business households.
Depending on the size of the pawn shop’s workplace, it must meet certain different fire safety and firefighting conditions. This condition is specifically stipulated in Article 5 of Decree 136/2020/ND-CP and Circular 149/2020/TT-BCA issued by the Ministry of Public Security on December 31, 2020.
According to Article 19 of Decree 96/2016/ND-CP, the application file for a new pawnshop service business license includes:
For Vietnamese people in the country:
For Vietnamese residing abroad holding foreign passports and foreigners:
Note: If a business establishment has many legal representatives, the CV, Criminal Record or Personnel Declaration in the file applies to the person named in the Certificate of Eligibility. about security and order.
The process of applying for a license to operate pawnshop services is detailed in Article 23 of Decree 96/2016/ND-CP (amended and supplemented by Decree 56/2023/ND-CP):
Step 1: Submit application
Enterprises and business households submit 01 set of documents to the Police Department for administrative management of social order of the Police of provinces and centrally run cities. How to apply:
Step 2: Review and issue Certificate
The Vietnamese pawn market is growing rapidly, requiring businesses to master the law and apply effective business strategies. Long Phan, with a team of experienced experts, provides comprehensive consulting solutions to help customers overcome challenges and take advantage of opportunities in this field.
Consulting and support services at Long Phan include:
The Vietnamese pawn market is entering a period of strong development, creating many attractive business opportunities. To grasp trends and ensure legal compliance, businesses need a reliable consulting partner. Let Long Phan accompany you in your pawnshop service business journey. With our professional support, you will build a solid foundation, comply with the law and make the most of the market potential. Contact Long Phan immediately via hotline 0906735386 to receive detailed advice and start your successful journey in the pawnshop industry.
Note: The content of the articles published on the website of Long Phan Investment Consulting Company is for reference only regarding the application of legal policies. Depending on the time, subject, and amendments, supplements, and replacements of legal policies and legal documents, the consulting content may no longer be appropriate for the situation you are facing or need legal advice on. In case you need specific and in-depth advice according to each case or incident, please contact us through the methods below. With our enthusiasm and dedication, we believe that Long Phan will be a reliable solution provider for our clients.
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