PROCEDURE FOR CHANGING TO BUSINESS LICENCE OF FOREIGN INVESTED ENTERPRISE

Foreign-invested enterprises must obtain a business licence to carry out certain business activities in Vietnam. If there are changes in information on a business licences, entrepreneurs must carry out the procedure for changing to a business licence. LawPlus would like to present some main points of law relating to the procedure for changing to a business licence.

I. Cases in which entrepreneurs must modify business licences 

Pursuant to Articles 14 and 11 of Decree 09/2018/ND-CP guidelines for the law on commerce and.the law on foreign trade management regarding sale of goods and other activities directly related to sale of goods and.foreign investors and foreign-invested business entities in.Vietnam, a business licence shall be modified upon the changes to.following information:

a) Name, business identification number, address of headquarters.and legal representative;

b) Controlling owners, capital.contributors, founding shareholders;

c) Goods for distribution;

d) Other related activities;

e) Others.

Note: 

In case of relocating the headquarters from a province to.another province, the enterprise must apply for a reissuance.of business licence.

II. The application for changes to business licence

According to Article 15 of Decree 09/2018/ND-CP, the application for changes to business.licence depends on particular case:

1. The application for changes in case there is a change in name, business identification number, address of headquarters and legal representative;

a) An application form for changes to.business licence (form No. 02 of Appendix enclosed Decree 09/2018/ND-CP)

b) A copy of a modified business registration.certificate that records the change.

2. The application for changes in case there is a change in controlling owners, capital contributors, founding shareholders, goods distribution, other related activities and others.

a) An application form for changes to business licence (form No. 02 of.Appendix enclosed Decree 09/2018/ND-CP)

b) A representation specifying:

– Conditions for issuance of a business.licence as prescribed in Article 9 Decree 09/2018/ND-CP;

– Business plan: business activities and methods of doing business; presentation of business.plan and market development; labour need; evaluation of the implications and socio-economic.effectiveness of the business plan;

– Financial plan: An income statement made on the basis of the last audited financial.statement if the enterprise has existed in Vietnam for at least 1 year; representation of capital, sources of funds and.fund raising plans; enclosed with other financial documents;

– The sale of goods and other related activities and financial situation of the foreign-invested business.entity which is determined until the application for a business licence, in case of circumstance.prescribed in Clause 6 Article 5 Decree 09/2018/ND-CP.

c) A document justifying that the enterprise incurs.no overdue.tax issued by the tax authority

d) Copies of: the business registration certificate; certificate.of registration.for sale of goods and other related activities (if any).

III. Procedures for changing to business licence

According to Article 16 of Decree 09/2018/ND-CP, to change to.your business.licence, you must follow step below:

Step 1:

The applicant must submit an application in person, by post, or via.Internet (if available) to the Department of Industry and Trade.

Within 3 working days from the date of receiving the application, the Department of Industry and.Trade shall verify it and request necessary modifications if it is inadequate or unsatisfactory.

Within 10 working days from the date on which an adequate and.satisfactory application is received, the Department of Industry and.Trade shall verify whether conditions prescribed in Article 9 Decree 09/2018/ND-CP are satisfied:

Note:

If you receive the modified business registration certificate which contains change in.name, business identification number, address of headquarters and legal representative, controlling owners, capital.contributors, founding shareholders, you must submit the.application in 10 working days.

Step 2:

In case where conditions are not satisfied, the Department of Industry and.Trade shall provide explanation in writing;

In cases where conditions are satisfied, the Department of Industry and Trade.shall forward the application and consultation with the Ministry of Industry and Trade and the managing Ministry.

Step 3:

Within 15 days from the date on which the application is received, the Ministry of Industry and Trade and the.managing Ministry shall, according to Article 10 Decree 09/2018/ND-CP, consider approving.the issuance of a business licence; 

If the application is refused, it shall provide an.explanation in writing.

Step 4:

Within 3 working days from the date on which a notification of acceptance issued by.the Ministry of Industry and Trade is received, the Department of Industry and Trade shall issue.a business licence. 

If the application is refused by the Ministry of Industry and Trade or managing.Ministry, the Department of Industry and Trade shall.provide an explanation in writing.

Step 5:

Within 5 working days from the date on which the modified business licence, the foreign-invested.business entity shall return the former business licence to the Department of Industry and Trade.

This is the analytical essay of LawPlus about the procedure for changing to a business licence.of foreign invested enterprise. Law Plus’s professional and experienced lawyers are always ready to.offer you the best legal assistance in  problem solving in operation.management. To receive the most timely, quality, effective and cost-effective advice, please.contact LawPlus.via hotline +84 2862 779 399, +84 3939 30 522 or email info@lawplus.vn.

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