What to prepare when establishing a company in Ho Chi Minh City? The essential information will be provided by APECDOC through the following article.
Essential information when establishing a company in Ho Chi Minh City
Thanh Hóa is one of the provinces with a rapidly developing economy, ranking among the top in the country. Many businesses have been established and developed here to exploit the full potential of the locality. You are looking to establish a company in Ho Chi Minh City but do not know where to start. Follow the information provided by Nam Sai Gon for guidance.
Preparing the type of business for the company
The first issue to consider is the operating form of the unit. Currently, the government allows the establishment of companies under 4 forms. Each form will have different strengths and weaknesses. Depending on the development orientation of the business, the number of members, and operational conditions, choose to establish a company in Ho Chi Minh City with a suitable type.
Preparing the registered industry for business
The next important issue that customers need to consider is choosing the registered industry for business. It depends on market development characteristics, socio-economic conditions, and consumer habits in each area, which product to choose. The business industry registration should also be based on the strengths of the members and suitability with the capital when establishing a company in Ho Chi Minh City.
The selected industries must comply with legal regulations and be listed in the List of registered business industries. Enterprises are not allowed to trade weapons, military equipment, rare animals and plants, prohibited substances, etc.
For industries that do not require conditions, the company can operate immediately after receiving the license. However, for industries that require conditions, full compliance is necessary before starting production and business. Conditions may include charter capital, professional certificates, warehouse conditions, permits, etc.
Preparing the company address in Ho Chi Minh City
The business unit must have a specific address, including house number, street, hamlet/ward, commune, district, Thanh Hoa province.
The company address cannot be in apartment complexes, collective housing, or buildings that are not commercially functional. Also, it cannot be located in prohibited business areas. To save costs, you can use your residence as the registered business address when establishing a company in Ho Chi Minh City.
Signage and banners must be placed at the head office in Thanh Hoa and at representative offices across provinces and cities (if any).
Preparing the company name according to regulations
The business name must include two elements: the type of business and the unique name. The type of business is one of the four forms mentioned in section 1. The unique name is written using Latin alphabet letters and numbers.
The name must not contain slang, offensive words, be confusing, or violate traditional customs of Vietnam. It also must not duplicate the names of other businesses operating in the same industry or selling similar products to avoid confusion for government agencies and partners.
When establishing a company in Ho Chi Minh City, the name requires an English counterpart, an abbreviation, and will be included in the Business Registration Certificate.
Preparing the legal representative
The legal representative is the person responsible for the company’s activities, risks, and legal obligations. The task is to faithfully perform the assigned rights and obligations correctly to ensure maximum benefits for the enterprise when starting operations.
The representative can be chosen as the chairman, director, etc., and can be changed during operation or if deemed unsuitable with the company’s policies and objectives. When establishing a company in Ho Chi Minh City, it is advisable to select an experienced and qualified person to run the operations effectively.
Preparing the capital
Capital is a crucial and necessary factor when establishing a business. The amount varies depending on financial capacity, business requirements, and industry specifics. The law does not specify a minimum or maximum, but capital is related to future tax obligations, so choosing an appropriate amount is important.
Some regulated industries require minimum capital. When establishing a company in Ho Chi Minh City, this should be noted to facilitate quick, smooth, and cost-effective procedures. For example, real estate businesses must have a minimum capital of 20 billion VND, whereas consumer goods do not have this requirement.
These are the issues to prepare before establishing a company in Ho Chi Minh City. This helps the process of document preparation and procedure execution to be quicker and more efficient. If customers need assistance in completing documents and procedures, please contact APECDOC for advice and support.
