Starting Up in Technology Field: A Comprehensive Guide
Launching a startup in the technology field presents unique opportunities for innovation and growth. To establish a strong foundation, it is crucial to select the appropriate business structure, understand capital requirements, and complete necessary legal procedures. This guide provides a clear overview for aspiring entrepreneurs aiming to thrive in the technology sector.
Key Steps for Starting Up in Technology Field
1. Select the Right Business Structure
When starting up in the technology field, choosing the right business structure determines flexibility and scalability. Common options include:
- Limited Liability Company (LLC): Ideal for small teams (1–50 members) due to straightforward management and limited liability.
- Joint-Stock Enterprise: The most suitable option for tech startups planning funding rounds. This structure facilitates share valuation and capital expansion.
- Partnership: Designed for ventures where partners play a vital operational role with shared liability.
2. Plan Charter Capital for Technology Startups
Charter capital is a fundamental factor for technology startups:
- No Minimum Requirement: Vietnamese law does not mandate a specific minimum amount.
- Contribution Deadline: Capital must be contributed within 90 days from the issuance of the Business Registration Certificate.
- Flexible Contribution Methods: Founders can contribute via cash, bank transfers, or assets.
3. Complete Legal Procedures for Establishment
Launching a startup in the technology field requires completing these essential steps:
- Provide Information: Submit startup details using LawPlus’s standardized form.
- Prepare Documentation: LawPlus drafts the establishment dossier, which you sign.
- Submit Application: LawPlus liaises with authorities to ensure timely issuance of your Business Registration Certificate.
4. Documents Required for Technology Startups
The establishment dossier varies based on the business type but typically includes:
- Application Form: Formal request for business registration.
- List of Shareholders or Members: Details of founders, their roles, and contributions.
- Enterprise Charter: Operational framework and governance regulations.
- Authentication Documents: Identity verification for all founders.
- Power of Attorney: Authorizing LawPlus to handle registration processes.
5. Post-Establishment Obligations
Once the technology startup is established, the following steps are mandatory:
- Create a Company Seal: Required for legal documentation.
- Tax Registration: Register with tax authorities and fulfill obligations.
- Open a Bank Account: Facilitate financial transactions.
- Obtain an Electronic Signature: Necessary for online tax declarations.
- Purchase Invoices: Meet invoicing compliance requirements.
- Pay License Tax: Ensure your company fulfills license tax obligations.
- Employee Insurance Registration: For companies hiring staff.
Contact LawPlus for Expert Assistance
For tailored support in starting up in technology field, contact LawPlus:
- Website:
- Email:
- Hotline: 0965 052 039 (Vietnamese) | 0966 008 030 (English)
- Address: 86 Xuan Thuy Street, Thao Dien Ward, Thu Duc City, Ho Chi Minh City, Vietnam.
