According to the Ministry of Planning and Investment’s opinions, currently the Law on enterprises and Decree No. 78/2015/ND-CP on business registration (which has been amended at Decree No. 108/2018/ND-CP) do not regulate the business registration of public non-business public units.
The letter of attorney upon authorizing an individual to carry out procedures for enterprise registration is also not required to be notarized or certified (Clause 2 Article 1).
In addition, according to Clause 5 Article 1, an enterprise may register conversion of the enterprise and register changes of enterprise registration information, except registration of change of the legal representative.
With regard to business location, this Decree removes the regulation according to which an enterprise may only establish its business locations within the province in which its headquarters or branches are located (Clause 9 Article 1).
Procedures for notification of seal design of an enterprise may be carried out online without the requirement of additional submission of paper – based dossier to Business Registration Office (Clause 10 Article 1).
Other important procedures such as online enterprise registration; registration of change of charter capital or capital contribution (stake) ratio; change of information about founding shareholders; publishing of enterprise registration information, etc. are also amended.
1. With regard to enterprises and their affiliates that have been granted the Certificates before August 20th, 2018, they are not required to carry out procedures for update of their business lines according to the new business line system.
The update of business lines according to the new business line system is only encouraged and shall be made when enterprises have the demand or when they announce to add, change of business lines or apply for change into the enterprise registration Certificate.
2. With regard to enterprises and their affiliates whose applications for establishment or change of business lines have been received before August 20th, 2018 but the applications have not yet approved on the business registration system, if the already – declared names and business line codes are changed in comparison with those in the new business line system, it is required to modify, supplement to the applications for registration.
3. With regard to applications for establishment of enterprises, announcements of change of business lines which are submitted online and the Announcements of valid applications have been given before August 20th, 2018 but the paper - based applications are submitted after August 20th 2018 and the already – declared names and business codes are changed in comparison with those in the new business line system, it is required to carry out procedures for update, supplement of information.
The announcement of update of business lines according to the new business lines system shall be carried according to the form provided in Annex II-5 issued together with Circular No. 20/2015/TT-BKHDT.
Accordingly, the new standard industrial classification promulgated together with this Decision also comprises of 5 levels similar to the earlier one.
However, the number of classes of level 4 and sub-classes of level 5 are added more. In particular, classes of level 4 are increased from 437 classes to 486; sub-classes of level 5 are increased from 642 sub-classes to 734 sub-classes. The details are provided in Appendix I of this Decision.
In addition, the new standard industrial classification also supplements contents guiding and clearly explaining economic activities arranged into specific sections. The details are provided in Appendix II of this Decision.
This Decision takes effect from August 20th, 2018 and replaces Decision No. 10/2007/QD-TTg dated January 23rd, 2007.
In which, especially, to focus on the comprehensive reform of specialized inspection activities so as to ensure to cut and simplify by 50% of the list of goods, products and specialized inspection procedures, cut and simplify by 50% of business investment conditions.
According to the new regulations provided in Article 3 of this Circular, a branch or an affiliate whose location is different from that of the main business establishment shall submit the application to the supervisory police authority of the main business establishment or to the supervisory police authority of the branch or affiliate.
Regarding the revocation of the security certificate, if the violation that leads to the revocation of the certificate only affects one of the business establishment’s business lines or investment stages, only the certificate that covers the affected business line or investment stage shall be revoked.
Within 60 days from the issuance, replacement and re-issuance of the security certificate to the establishment, the police authority shall carry out post-issuance inspections at the enterprise. If the enterprise is detected that it fails to meet one of the security requirements, it has to suspend the operation in order to overcome within 40 days.
This Circular takes effect from December 6th, 2017 and replaces Circular No. 45/2009/TT-BCA (C11) dated July 14th, 2009 and Circular No. 33/2010/TT-BCA dated October 5th, 2010.
In addition, upon the request for providing information about the certificate of operation of business location, the charge shall be VND 20,000/certificate
In the case of request for providing information about financial statements of business entities, the payable charge is VND 40,000 per statement, regardless type of business entities. Under the earlier provisions, only charge for providing information about financial statements of joint stock companies was collected and it was VND 50,000 per statement.
Charge for providing enterprise’s information according to registered accounts at least 125 documents per month is VND 5000,000 per month
However, charge for providing consolidated report on enterprise is reduced from VND 200,000 per report to VND 150,000 per report
Fee for new issuance of enterprise registration certificate is still VND 20,000 per registration; fee for new issuance, reissuance, amendments to certificate of registration for branches, representative offices, business location of enterprise is VND 100,000 per application and charge for declaration of contents of enterprise registration is still VND 300,000 per declaration.
This Circular takes effect from January 1st, 2017. To replace Circular No. 176/2012/TT-BTC dated October 23rd, 2012 and Circular No. 106/2013/TT-BTC dated August 9th, 2013.
In particular, the fee is still VND 5,000,000/application (for processing of application for issuance or renewal of a certificate of multi-level marketing) and VND 3,000,000/application (for processing of application for replacement or addition to a certificate of multi-level marketing)
However, this Circular no longer regulates level of fees for issuance of certificate of multi-level marketing as regulated in Circular No. 197/2014/TT-BTC
This Circular takes effect from January 1st, 2017 and replaces Circular No. 197/2014/TT-BTC dated December 18th, 2014.
In the case of leasing assets to associated parties, it is required to apply a method to determine leasing price in conformity with market prices according to the guidelines provided in Part B of Circular No. 66/2010/TT-BTC
Regarding land rents, according to Clause 2 Article 4 of Circular No. 45/2013/TT-BTC, in the case of renting land for which the rents are paid one time in advance for many years but the certificate of land use right has not been granted, the expenses of land rents shall be amortized into the business costs by the number of renting years.