In the course of business activities, enterprises have the right to change and supplement their business lines to adjust and match their development needs. In the articlebelow, NAVI provides guidance on the sequence and procedures for performing the addition of changes in business lines.
What is the line of business?
According to the 2020 Law on Enterprises of Vietnam, there is no accurate interpretation term in the 2020 Law on Enterprises, the exact concept of business lines has not been clearly defined. However, through the relevant provisions in the law as well as the guiding documents, it can be understood that:
Business lines are economic activities classified based on Decision No. 27/2018/QD-TTg on the system of Vietnamese economic sectors issued by the Prime Minister. This system categorizes each branch into very detailed groups identified by specific codes.
This classification process makes it easier for the state to manage the economy and society. At the same time, it also creates standards for each type of business, thereby reflecting the characteristics of each company in business.
Additional procedures for changing business lines
► Step 1: Prepare business registration change dossiers.
When there is a need to change, supplement or replace the business registration line, the enterprise should send a notice to the Business Registration Office at the head office address as prescribed in Article 56, Decree No. 01/2021/ND-CP. Dossiers of notice of change of business lines include:
Notice of change of enterprise registration content (according to the Form Appendix II-1 attached to Circular No. 01/2021/TT-BKHDT).
Resolutions, decisions and copies of meeting minutes of the Members’ Council for limited liability companies with two or more members of the partnership or of the General Meeting of Shareholders for joint-stock companies. In addition, resolutions and decisions of the company owner for single-member limited liability companies should also be provided on changing business lines.
► Step 2: Submit the change dossier and pay the fee for disclosing business registration information.
Submit the business registration change dossier and the fee for disclosure of business registration information at the Business Registration Office – Department of Planning and Investment of the province/domain where the enterprise is headquartered.
► Step 3: Get the results.
The enterprise will receive a certificate of change of enterprise registration content directly from the business registration agency or through the postal service.
Expense foradditional changes in business lines
- The filing fee for changing and supplementing business lines and issuing a certificate of changing the content of enterprise registration at the Department of Planning and Investment – 200,000 VND.
- The fee for announcing the change of business lines at the National Portal – 300,000 VND.
- Service fee for change and supplementation of business lines at NAVI – 500,000 VND.
The total package cost when implementing change and supplementation dossiers for the company is 1,000,000 VND.
Note: You will have to pay an additional industry coding fee – 200,000 VND in the following 2 cases:
- If the enterprise was established before August 20, 2018 and its industry list has not been coded.
- If the enterprise has never implemented the procedures for changing the content on the business license and the industry does not have its own code.
Timeto change and supplement business lines
The time limit for the dossier processing agency to change business lines after receiving a complete and valid dossier is 03 working days.
Notes on the process of changing and supplementing business lines
In the process of changing and supplementing the business industry, businesses need to pay attention to thefollowing:
- It is necessary to focus on the actual needs of production and business as well as the industries they plan to enter in the near future to register their business.
- Comply with the specific conditions of those occupations including legal capital, sublicenses, certificates and other requirements.
From July 1, 2015, information about business lines will not appear on the Business Registration Certificate. Instead, businesses will receive a Certificate of Change of Registration if they change their business lines. Information about these changes should be published on the National Business Registration Portal within 30 days of the change, which is mandatory and the business may be fined from VND 1,000,000 to VND 2,000,000 if it does not comply.
In the changing business, the addition of business lines is an inevitable part to meet the changing market needs and to develop the business. Through guidance on order and procedures, it is hoped that businesses will be able to implement the necessary measures easily and effectively. If you have any questions, contact NAVI AT: 0968.153.486 for detailed support and advice! NAVI is always happy to help you.
See also:
► Change in charter capital – Only 500,000 VND
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Chi nhánh Phan Thiết
