Procedures for Establishing a Two-Member LLC and Important Notes

To get a two-member LLC operational, the first step is to register the company establishment. So, procedures for establishing a two-member LLC what are they? What should be noted after establishing a two-member LLC? The answers will be provided in the share from lawyers as below.

Documents for Registering a Two-Member LLC

Before proceeding with the procedures and steps for company establishment, the registrant or authorized representative must prepare the following documents:

1: Application for registration of two-member LLC

2: Company charter

3: List of company members

4: Copies of personal identification documents of members, including ID/CCCD

5: In case the owner is an organization, it must submit certification documents or documents related to the decision to establish the company. Or valid copies of personal identification documents of the authorized representative.

6: Investment registration certificates for companies established by foreign investment organizations/foreign-invested economic organizations.

7: Power of attorney for organizations or individuals to perform registration procedures

8: For members that are foreign organizations, the following documents are required:

– Certified copies of business registration certificates or equivalent documents legalized by consular legalization.

– Investment registration acceptance letter as per investment law

– List of authorized representatives

Procedures for Establishing a Two-Member LLC

Once all company establishment documents are prepared, the applicant will carry out the following procedures:

• Step 1: Prepare the necessary documents for the company formation procedures
• Step 2: Submit the application for the business registration certificate at the Department of Planning and Investment of the relevant provincial or city authority where the main office of the company is located
• Step 3: Receive the results and the business registration certificate
• Step 4: Announce the company’s registration content through the National Business Registration Information Portal
• Step 5: Engrave the legal seal for the company
• Step 6: Notify the company’s seal registration to the business registration authority at the registration office where the headquarters is located. The enterprise must also upload information to the National Information Portal.

Important Notes on Procedures for Establishing a Two-Member LLC

• Conditions for Establishing a Two-Member LLC

To facilitate the registration process, some conditions must be identified as follows:

1: To establish a two-member LLC, there must be at least two contributing members, and the number of members should not exceed 50.

2: The company’s name must contain at least two components, including the type of company and the distinctive name.

3: The charter capital is not limited in minimum or maximum, but for certain registered industries, the charter capital must not be lower than the legal capital.

4: The company headquarters must have a clear address

5: The business sectors must not fall within the list of prohibited industries as per legal regulations.

• Tasks after completing the establishment procedures for a two-member LLC

After being granted the business establishment certificate and fulfilling all required obligations, the enterprise or authorized representative must proceed to:

1: Hang a signboard at the company headquarters

2: Open a bank account for the company

3: Register for digital signature issuance for tax declaration and electronic payment

4: Register for electronic invoicing and invoice issuance

5: Declare and pay VAT, corporate income tax, and business license tax

6: Submit tax reports monthly or quarterly, labor usage reports every 2 years, annual financial statements

Note: For the business license tax, companies established from 25/2/2020 are exempt from the first year’s license fee. Therefore, you only need to declare and pay this tax starting from the year following their first operational year.

The shared procedures for establishing a two-member LLC will help you prepare the necessary documents and understand the process when registering to establish a company. However, for more detailed information about what you need to know before registering a two-member LLC, you can contact apecdoc.org. “Apecdoc.org with its team of professional consultants will guide and answer all your questions to help you when registering a company.”