What do you need to prepare when establishing a company?

Establishing a company is an important and challenging decision on every entrepreneur’s business path. Establishing a company requires careful preparation in all aspects, from business plans, market research, to legal and financial procedures to ensure the business can operate and achieve success. sustainable development. Let’s learn with Long Phan about the necessary factors to successfully establishing a company.

Factors to prepare when establishing a company

What do you need to prepare to establishing a company?

Select type

The first step after having an idea and a business plan is to choose the type of business. Depending on the business goals, scale of operations, and wishes of the founder, you can choose the appropriate type of business. Currently, according to the Enterprise Law 2020, there are 5 types of businesses that business owners can choose to establish, including:

• LLC with two or more members;
• One member limited liability company
• Joint stock company
• Private enterprise.

Each type has its own characteristics, advantages and disadvantages, affecting the management style, legal responsibilities and rights of company members, so careful consideration is needed when choosing the type of business. be suitable

Choose a name

A business name is an important factor to help distinguish a business in the market, and is also associated with the business’s brand and products. Business owners need to comply with legal regulations on naming businesses. Some notes when naming a business are as follows:

• Vietnamese names include 2 components: type of business and personal name.
• The company name must not be identical or confusing with the name of the registered enterprise
• Do not use the name of a State agency or socio-political organization to name the company.
• Do not use words that violate historical traditions, culture, customs and traditions.

Location of company establishment

Choosing a location to establishing a company needs to be carefully considered based on legal regulations, rental costs and development potential. A suitable location will create favorable conditions for business activities, transactions with customers and partners, as well as attract human and material resources in the development process of the business.

The company’s location needs to be clearly shown in the business registration content, including the address of the head office and the address of the business’s branch and representative office.

Choose charter capital

Charter capital is the amount of capital committed by members and shareholders to contribute within a certain period of time and is recorded in the company’s charter. Charter capital will affect the rights and legal responsibilities of members and shareholders towards the enterprise, and also affect the tax obligations of the enterprise.

Therefore, the choice of charter capital should be consistent with the scale and goals of the business owner as well as the type of business intended to be established to avoid legal risks that may arise later.

Agreement to unify cooperation between companies

Before establishing a company, co-founders need to have an agreement and consensus on the contents of cooperation, including the rights and obligations of each member, profit division, decision-making and resolution mechanisms. dispute. A transparent and detailed agreement will stabilize the internal situation of the business, avoid unnecessary conflicts and ensure long-term and effective cooperation.

Company establishment profile

To register a company, individuals and organizations need to prepare a set of establishment registration documents in accordance with the law. Specifically, company registration documents corresponding to each type of business include:

For private enterprise form:

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

For LLC with two or more members:

• Application for business registration.
• Company rules.
• List of members for limited liability companies with two or more members;
• Copies of personal legal documents for the legal representative of the enterprise;
• Copies of legal documents of individuals and company member organizations
• Personal legal documents for the member’s authorized representative and document appointing the authorized representative.

For members that are foreign organizations, copies of the organization’s legal documents must be consularly 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 Investment Law and guiding documents. implementation guide.

For Joint Stock Company form:

• Application for business registration.
• Company rules.
• List of founding shareholders and list of shareholders who are foreign investors for joint stock companies.
• Copies of personal legal documents for the legal representative of the enterprise;
• Copies of legal documents of founding shareholders, shareholders who are foreign investors who are individuals or organizations;
• Personal legal documents for authorized representatives of founding shareholders, shareholders who are foreign investors and documents appointing authorized representatives.

For shareholders who are foreign organizations, copies of the organization’s legal documents must be consularly 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 Investment Law and guiding documents. implementation guide.

For the form of a single-member limited liability company:

• Application for business registration.
• Company rules.
• Copies of personal legal documents for the legal representative of the enterprise;
• Copies of personal legal documents for company owners who are individuals or organizations (except in cases where the company owner is the State);
• Copies of the individual’s legal documents for the authorized representative and the document appointing the authorized representative.
• For company owners who are foreign organizations, copies of the organization’s legal documents must be consularly legalized;
• Copy of investment registration certificate in case the enterprise is established by a foreign investor or an economic organization with foreign investment capital according to the provisions of the Investment Law and its guiding documents. .

Pursuant to the content specified in Article 21, Article 23, Article 24 of Decree 01/2021/ND-CP dated January 4, 2021 of the Government on business registration

Procedures for registering a company

The order and procedures for registering a company are prescribed as follows:

Step 1: Submit application.

When establishing a company, individuals and organizations need to prepare complete documents according to regulations and submit them in one of the following ways:

• Submit applications directly at the office of the Department of Planning and Investment of the province/city or via postal and telecommunications services.
• If you cannot come in person, you can use the internet submission method, through the online business registration portal.

Step 2: The competent authority checks the documents and returns the registration results

• Within 03 working days from the date of receiving the application, the business registration agency will review and issue a Business Registration Certificate if the application is valid.
• If the dossier is not valid, the business registration agency will send a written notice of amendments and modifications. In case the individual has made amendments and additions as required, the competent authority will issue a notice granting a business registration certificate.
• After being granted the Certificate, the enterprise must carryout procedures to publish the registration content on the National Business Registration Portal.

Based on the content specified in Article 26 of the Enterprise Law 2020

Procedures established companies

Procedures to be carried out after obtaining a business certificate

Procedures that businesses need to carry out after obtaining a business certificate include:

• Submit initial tax declaration
• Open an account and notify the bank account number
• Buy digital signature
• Hang company signs
• Register and issue electronic invoices
• Complete the conditions for sublicenses corresponding to the business lines of the enterprise
• Participate in employee insurance and tax issues

Company establishment consulting services

In order to support you in smoothly registering your company, at Long Phan, we will provide establishing a company consulting services to you including:

• Consulting on choosing the appropriate business form, helping customers prepare documents and prepare necessary documents to register a company;
• Consulting and guiding the legal regulations on the process up to the establishment registration documents, establishment announcement, and post-establishment;
• Customer representatives contact the business registration agency to carry out company registration procedures and support putting the company into operation in accordance with the provisions of law;
• Consulting on location of business headquarters, office, company name,…;
• Support in drafting necessary documents, records and papers;
• Consulting on issues after registering a company such as tax declaration, digital signature registration, electronic invoices, sub-licenses,…;
• Consulting on internal business issues;
• Consulting and supporting other issues according to customer requests.

Consulting on company establishment

The above article has informed customers about the factors that need to be prepared when establishing a company. With our experience and in-depth understanding of the business registration process, we are committed to providing professional and reliable services to you. Customers who have questions or want to consult Long Phan’s establishing a company consulting services, please contact us via Hotline 0906.735.386 for quick support.