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CHANGING BUSINESS LINES - WHAT SHOULD AN ENTERPRISE NOTICE?

Is the company working in a small office space that needs to expand or narrow its business? Read this article to understand how to do it.

What do enterprises in small offices need to notice when changing business lines?

According to current legal regulations, enterprises are free to conduct business lines that are not prohibited by law and are not displayed on the Certificate of Business Registration. However, businesses working at small office leasing places want to conduct operations, still need to clearly identify the industry and have the obligation to notify the Business Registration Authorities for record. Therefore, it is necessary to follow the required procedures at the business registration office if there’s any change in business lines. So how and what should be noted to be able to complete this procedure?

Any change related to the line of business needs to be done properly.

Any change related to the line of business needs to be done properly.

1. Cases in which business lines need to be changed

Add business lines

Enterprises prepare documents to submit when they want to expand their business fields and add industries that have not been included in their previous business registration certificates.

Withdraw business lines

There are many businesses that rent small offices that have registered with multiple business lines, because they think it will be more convenient and easier to attract customers. But if you register a lot, and that industry is not active, this may be checked by state management agencies or even affect the company's operation.

Therefore, at this time, the enterprise must carry out procedures to withdraw the registered business lines on the system.

Modify the line of business

Some business lines are not clearly and specifically stated and often have the word "other" or "not yet classified" during registration. In this case, when the enterprise writes the industry code, it must have details according to the level 5 industry. If it is not clearly displayed, it’s necessary to modify the details of the industry immediately.

2. What are the documents required for the change of the business?

According to Article 56 of Decree 01/2021/ND-CP, an enterprise must include:

  • Notice of changes in business particular (under the form provided in Circular 01/2021/TT-BKHDT);
  • Minutes of the meeting of the Members' Council (for partnerships and limited liability companies with two or more members) or the General Meeting of Shareholders (for joint stock companies) on the matter of change, addition or deletion business;
  • Resolutions and decisions of the company on this issue;
  • Authorization to make the change (if intermediaries are law firms);
  • Certified copy of the applicant's citizenship/ID/personal passport of the applicant, authorized to make the change, and investment registration certificate (if any).

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Enterprises carry out procedures to withdraw registered business lines to focus more on one field.

Enterprises carry out procedures to withdraw registered business lines to focus more on one field.

3. Order of execution

A company with a working location at a small office space that wants to change its business lines needs to follow the order in the following 2 cases:

Direct registration

  • Step 1: Check and review the company's business lines currently stored on the business registration system.
  • Step 2: Pursuant to Decision 27/2018/QD-TTg on guiding the lookup and recording of business line codes as well as determine the names and industry codes of industries that need to be added, modified or removed.
  • Step 3: Prepare a complete and legal dossier for the change, then submit it at the Business Registration Office (where the enterprise's head office is located) and receive a receipt on the receipt file.
  • Step 4: Business Registration Office checks the validity of the application.
  • Step 5: If there are no problems with the application, the Business Registration Office approves it and issues a notice of amendments and supplements.

Online registration

At a small office space, to do it online, businesses need to prepare a full set of documents and scan those documents in PDF file format. After that, you can submit your application through online via National Business Registration Portal’s website at https://dangkytinhdoanh.gov.vn/vn/Pages/Trangchu.aspx

4. Things to keep in mind

Fee

Fee for changing business lines is: 50,000 VND (In case of online registration, it is free)

The fee for disclosure of information about the change is: 100,000 VND

Time

Processing time (if the application is valid): 03 working days.

If the application is not valid, the Business Registration Office shall notify it again and the small office tenant must amend and supplement as required within 03 working days.

In addition, according to the provisions of the Enterprise Law 2014, information must be disclosed when successfully changing or supplementing business lines.

Within 30 days, starting from the date the enterprise receives the certificate of change of business registration information, it is necessary to submit the application for information disclosure to the business registration office.

Place of registration

According to the provisions of Point a, Clause 1, Article 31 of the Law on Enterprises, enterprises must notify and carry out procedures for changing business registration contents at the Department of Planning and Investment (where the head office is registered). Specifically, the Business Registration Office.

Others

  • Businesses need to understand the conditions of changing business lines.
  • Based on the regulations in the system of economic sectors in Vietnam, code the business lines you want to add or change to level 4.
  • For some industries that require legal capital, it’s necessary to adjust to meet the capital requirements.

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Procedures for changing business lines need to be done very carefully and precisely.

Procedures for changing business lines need to be done very carefully and precisely.

Procedures for changing business lines need to be done very carefully and precisely. Therefore, if the business is located in a small office space for rent and needs to change its business lines, it’s important to contact reputable law firms or the Business Registration Office of the Department of Planning and Investment for detailed advice and guidance.

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