Register to establish a partnership company- Details of documents and procedures

Article overview

Registering to establish a partnership company is the process of formalizing the business operations of an enterprise with this type of company. A partnership company brings many benefits to members including general partners and capital contributing members. This article will provide customers with an overview of the process of registering to establish a partnership, including documents, procedures, deadlines, and costs.

Regulations on procedures for registering a partnership company
Regulations on procedures for registering a partnership company

What is a partnership company? Advantages of a partnership compared to other types of businesses

Pursuant to Clause 1, Article 177 of the Law on Enterprises 2020, a partnership is a type of enterprise with at least two partners who are common owners and do business together under a common name.

General partners have unlimited liability for the company’s financial obligations using all of their personal assets. In addition to general partners, a partnership company may have additional capital contributing members, who are individuals or organizations, but they are only responsible to the extent of the capital they have committed to contribute to the company.

Advantages of a partnership include:

  • Combining personal reputation: Partnership members have unlimited liability, helping the company easily build trust from partners and customers.
  • Simple management: The company has a small number of members and members often trust each other, so operating and managing the company is not complicated.
  • High expertise and professional reputation: Partnership members are often individuals with high professional qualifications, helping to build trust and credibility with partners.
  • Easy to borrow capital from banks: Due to the unlimited liability of partnership members, partnerships are often easier for banks to lend and defer debt.
  • Compact organizational structure: Partnership companies have a simple organizational structure, easy to manage, suitable for small and medium enterprises.
  • Legal status: A partnership has legal status, helping the business operate independently and stably in the legal system without being affected by the personal events of its members.
Advantages of a partnership company
Advantages of a partnership company

Application for registration of partnership company and where to submit the application

Pursuant to Article 20 of the Law on Enterprise 2020 and Article 22 of Decree 01/2021/ND-CP, the documents of a partnership company are:

  1. Application for business registration.
  2. Company charter.
  3. List of members.
  4. Copies of the following documents:
  • Personal legal documents for company members who are individuals; Legal documents of the organization for company members that are organizations; Legal documents of the individual for the authorized representative and document appointing the authorized representative.
  • For members that are foreign organizations, copies of the organization’s legal documents must be consular legalized.
  • Investment registration certificate in case the enterprise is established or participates in the establishment by foreign investors or economic organizations with foreign investment capital according to the provisions of the Law on Investment and its implementing documents.

Procedures for registering the establishment of a partnership company

Implementation steps

Pursuant to Decree 01/2021/ND-CP, the procedure for registering to establish a partnership will include the following steps:

Step 1: Submit application

Submit the application at the Business Registration Office where the enterprise is headquartered, or electronically using a public digital signature or business registration account.

Step 2: Receive Receipt

After submitting the application, the applicant will receive a Receipt from the Business Registration Office.

Step 3: Document processing:

  • If the application is valid, the Business Registration Office will issue a Business Registration Certificate within 3 working days.
  • If the dossier is not valid, the Business Registration Office will notify the request for amendments and supplements within 3 working days.

Step 4: Announcement of business registration contents

After submitting the application, the enterprise must announce the business registration content, including information about the Business Registration Certificate and business lines.

Steps to register to establish a partnership company
Steps to register to establish a partnership company

Resolution deadline

Pursuant to Clause 5, Article 26 of the Law on Enterprises 2020, the time limit for reviewing the validity of the business registration dossier to grant business registration is 03 (three) working days from the date of receipt of complete and valid dossiers.

Fees and charges for establishing a partnership

According to Circular No. 47/2019/TT-BTC, fees and charges for establishing a partnership company will include:

  • Business registration fee: 50,000 VND/time.
  • Fee for publishing business registration content: 100,000 VND/time.

In case of electronic registration or establishment registration on the basis of conversion from a business household, the fee is exempted.

Consulting services and support for registering to establish a partnership in Long Phan

Long Phan’s consulting and support services for establishing a partnership company will accompany you from the first steps until the company is granted a Business Registration Certificate. Our services include the following items:

  • Consulting on the advantages and disadvantages of a partnership;
  • Consulting on conditions for registering to establish a partnership;
  • Consulting on the organizational structure of partnerships;
  • Instructions for preparing documents to register a partnership;
  • Consulting on business registration procedures at competent state agencies;
  • Support for procedures after establishing a partnership;
  • Consulting on other issues related to partnerships.

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If you intend to start a business and wish to establish a partnership, understanding the procedures and documents is extremely important to ensure the registration process goes smoothly, quickly and legally. France. With consulting services and support for registering a professional partnership, you will no longer worry about establishment procedures. Contact us immediately via the hotline: 0906735386 for the fastest support!